Hello all,
Can someone help me understand how exactly the "Betting on events" functions work?
The "time weight multiplier" is particularly confusing to me in how it relates to the bet amount and the outcome odds. Is there a formula for estimating how much you're going to win given the bet amount, odds and time weight multiplier?
For example, I bet 50 satoshi recently and the final odds were 1.51; also, when I made the bet the time multiplier was at ~25%. I got paid 72 satoshi but don't understand where that figure came from. Shouldn't it have been at least 75? Does the time multiplier subtract somehow from the (odds * bet amount) total?
About 25% is what you indicated, But odds are you just submitted a little later then your page's time stamps while you where crunching numbers so statistics where off a few % but thats just a guess.Can someone help me understand how exactly the "Betting on events" functions work?
The "time weight multiplier" is particularly confusing to me in how it relates to the bet amount and the outcome odds. Is there a formula for estimating how much you're going to win given the bet amount, odds and time weight multiplier?
For example, I bet 50 satoshi recently and the final odds were 1.51; also, when I made the bet the time multiplier was at ~25%. I got paid 72 satoshi but don't understand where that figure came from. Shouldn't it have been at least 75? Does the time multiplier subtract somehow from the (odds * bet amount) total?
My question is why did you go through so much trouble over 3 Satoshi? (regarding making a new account just to post here)
I think you misunderstood; the 25% was the time multiplier, and the odds were 1.51, so 50 * 1.51 ~= 75. What I don't understand is precisely what role this time multiplier plays in the calculation.
This 50 satoshi bet was just a test to try to understand how it worked, and since I couldn't figure it out I tried to google it and this was almost the only place in which there were mentions to this "betting on events" system, so I created an account and asked... if you know of any other place where you think I'm more likely to find answers let me know!
