Implement a Max Bet Option on Sportsbooks

harizen

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Quote from: Ryker1 on April 23, 2020, 10:50:47 AM

Well, that is really a great idea! Having a maximum bet that a player can set will give us control over our bankroll and losses. Most of the gamblers lose control when they are pissed off or when they feel it is their lucky day that in the end turns to ba big loss to them. Indeed, this idea might not be implemented by gambling sites because this might lessen their profit once big bettors will win.

You already mentioned it, gamblers lose control. Therefore, these gamblers will proceed no matter what, with or without that max bet option feature.

And besides, that feature can't be applied to all users as not all users do have the same behavior. So basically, that feature will be an option. And if a gambler came to the point that they want to continue their gambling activity on that particular session, they will just disable it and then that's it.

Again, that kind of behavior can just be addressed with the gambler's itself and not by websites putting lots of bankroll protection feature or something along those lines to their users.

Ryker1

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Well, that is really a great idea! Having a maximum bet that a player can set will give us control over our bankroll and losses. Most of the gamblers lose control when they are pissed off or when they feel it is their lucky day that in the end turns to ba big loss to them. Indeed, this idea might not be implemented by gambling sites because this might lessen their profit once big bettors will win.

imstillthebest

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Quote from: Tipstar on April 23, 2020, 08:24:43 AM

A gambling site would probably never do it a they earn the most from rage bettors. Sports betting is much more analytic and if you stick to rule, you'd make a profit in long term. The only reason why sportsbook exist is because no one sticks to their rules. People are overwhelmed by a few bad choices or when their favorite player/team is in action.

if thats true that sports bettor are careless then why would you think there are people loves or prefer sports betting compare to casino games . they even said that sports are more profitable or easy to profit on it . also some gambling sites have a warning that gambling is risky and not be treated as a profitable activity . they also propose an options to self ban account to prevent users from too much loosing . they care to to thier costumers more than they care of thier profit

Tipstar

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A gambling site would probably never do it a they earn the most from rage bettors. Sports betting is much more analytic and if you stick to rule, you'd make a profit in long term. The only reason why sportsbook exist is because no one sticks to their rules. People are overwhelmed by a few bad choices or when their favorite player/team is in action.

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Quote from: dothebeats on April 23, 2020, 08:15:11 AM

I thought this was more of a MAX bet option similar to what's implemented on most casino-based gambling sites, and seeing that this is only for limiting the amount of bet a gambler can do, I don't think bookies will EVER implement that.

They have pretty disclaimers on their websites that they aren't forcing you to deposit or anything, and if most of you people are actually reading ToS for such sites, you can see that most of them explicitly state that they aren't the ones to blame should you lose your money. They know full well that some gamblers will be tilted to the point that they will bet carelessly once they reached their tilting point, and that is where they make loads amounts of money that keeps their boat afloat.

I agree, well kind of.

They all have Responsible Gaming listed on their site:
https://gyazo.com/e17d25e8461ac5f2be5d10104529d464

They all have self exclusion (to protect gambler)

So this could be advertised as a feature, not as a must...

dothebeats

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I thought this was more of a MAX bet option similar to what's implemented on most casino-based gambling sites, and seeing that this is only for limiting the amount of bet a gambler can do, I don't think bookies will EVER implement that.

They have pretty disclaimers on their websites that they aren't forcing you to deposit or anything, and if most of you people are actually reading ToS for such sites, you can see that most of them explicitly state that they aren't the ones to blame should you lose your money. They know full well that some gamblers will be tilted to the point that they will bet carelessly once they reached their tilting point, and that is where they make loads amounts of money that keeps their boat afloat.

Debonaire217

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Perhaps, this is possible because it provides benefits to the side of the gambler, but overall and in a holistic view between the platform and the gambler, it weighs more if max bet will not be implemented as it restricts the gambler to bet more than what he is intended to bet, and implementing max bet will limit the income of the platform from gamblers that are betting huge amount.

An alternative might be reminders, sportsbook could post reminders showing their concern to the condition of the gambler, this will help them stop chasing losses, avoid frustration and stop when they are losing too much.

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Quote from: maxreish on April 22, 2020, 08:42:21 PM

Why not? We can minimize our losses if ever. And we can suggest this to some of the gambling sites which has a sports betting. Though i doubt they will gonna consider this idea since you already have said they wouldn't benefit from it but we can try to suggest. Or maybe, we can do managing our own bank roll by practicing it from now on. I, myself would admit I sometimes can not manage my bank roll well.

Exactly!
I myself try to practice good Bankroll Management but after a couple of losses I chase and my next bets are higher.
With this Method, I would kind of force myself to stay ini check and only bet the max I have set.

Of course I could just go adjust it, but with a set limit I think that would help me and also keep a few others in check.

maxreish

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Why not? We can minimize our losses if ever. And we can suggest this to some of the gambling sites which has a sports betting. Though i doubt they will gonna consider this idea since you already have said they wouldn't benefit from it but we can try to suggest. Or maybe, we can do managing our own bank roll by practicing it from now on. I, myself would admit I sometimes can not manage my bank roll well.

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Quote from: slackovic on April 22, 2020, 05:12:00 AM

Besides, in the long run it's better to have users that continuously gamble small amount of money than to have users that lost a lot of money and then never returns.

Every gambling site needs big rollers, big bettors, or basically a whale.

There will be no encouragement for their players to just play a small amount. That's already a part of their responsible gambling terms.

And we are in gambling, we are the ones that need to work about our behavior and what we can ask for a gambling site instead is to maintain their trustworthiness, smooth deposits and withdrawals, assurance that funds are always safe and good customer support.

Setting a max bet option is good as an additional feature but not to change a gambler's way of betting.

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Quote from: harizen on April 22, 2020, 06:15:49 PM

For numbers 1 and 2, I'm not against the suggestion but I think that kind of adjustment should be deal by the gambler itself.

And for the possible accidental placement of a supposed bet, in most of the sites, there is always a confirmation before it will be placed.

It doesn't mean these sites don't care for their users but as always, once a person puts themselves in gambling, they should know the risk factor associated with it.

Agree, bet confirmation will do to avoid this kind of mistake when betting. I don't think #1 and #2 can be prevented by implementing a max bet. As mentioned by darkdays gambing addicts will find ways to bypass the limit. Gambling platforms aim is to gain profit, the more gambling addict who use their platform the higher their possible profit will be. Just be responsible when gambling to avoid this kind of error when gambling. Do not be driven by emotions when gambling.

Danslip

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Hiring a programmer and asking to write a special software which can place bets or control your bet limits will be the efficient solution. The gambling platforms will not bother to crack a head over this suggestion.

Max bet feature is not big deal for all gamblers, some guys can accept the instant decision during the gameplay. The software may prevent to lose the all balance in the single bet but it is possible to win bigger than average bet too.

harizen

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For numbers 1 and 2, I'm not against the suggestion but I think that kind of adjustment should be deal by the gambler itself.

And for the possible accidental placement of a supposed bet, in most of the sites, there is always a confirmation before it will be placed.

It doesn't mean these sites don't care for their users but as always, once a person puts themselves in gambling, they should know the risk factor associated with it.

DarkDays

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Plenty of sportsbooks that actually care about the health of their players have implemented voluntary withdrawal programs, that essentially lock people out of their own account if they can't get a grip on their gambling addiction.

I actually don't think that implementing a simple max bet size would do much to curtail a true problem gambler, after all, they can simply open successive bets to bypass the limitation. They could also just create an account on a different sportsbook if they're really desperate.

Think about it bro, if you're addicted to something, a simple max bet block is not really going to stop you. If it's easy to bypass, addicted gamblers will bypass it. If it's hard to bypass, they'll find workarounds.

ralle14

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This might sound a good addition on a sportsbook but it could encourage the struggling gambler to have funds on several sportsbook making the feature less useful. I'm not against the suggestion just saying the possibilities if there's a sportsbook lets you set limits.

One good alternative to those problems mentioned is a vault similar to what primedice and stake have but with a timer.

Quote from: shoreno on April 22, 2020, 02:34:47 AM

btw i thought your going to suggest a max bet button and i feel confused because max bet button is already been there and also many people are suggesting to remove it .

It is a max bet button but a custom one since OP prefer sportsbook to have a lower limit so gamblers won't be forced to lose that quick.

amrulshare

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there is a possibility they pay attention to the user if the mental psychology is in bad condition then the user does not have to risk all the funds. Cheesy

slackovic

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That would be good way to introduce new users to Sportsbooks. It would sound like they take care for their users and don't want them to gamble all of their money. Besides, in the long run it's better to have users that continuously gamble small amount of money than to have users that lost a lot of money and then never returns.

Ucy

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I have thought about this too (not sure if that's what you are talking about though). Is it more like automating your bet to bet for you for maybe 1 month while you are not in the casino? I guess similar thing is already in place for, probably some luck-based bettings.
Things like that will really help in the area of addiction or spending alot of time playing luck-based games especially

Darker45

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This sounds great. I haven't stumbled upon a gambling site with this feature but I am very much for this. To those gamblers who don't want to be boxed within particular betting limits, there won't be any problem at all as they could easily choose to set their max bet at an amount much higher than they usually spend. But for those who are trying to put a limit at their gambling expenses, this could really be a very helpful tool.

xxjumperxx

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I assume Sportsbook dont want this implemented.

They want users to rage bet, they want users to not have a Bankroll Management.

xSkylarx

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This also happens not only in sports betting but also in other online casino games. I experienced adding a little more digit on my bet accidentally or rage betting whenever I lose several bets. However, I doubt if some platforms would implement such limit because they also earn depending on the amount of bet.

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I don’t know many sport betting websites with such option.I don’t remember correctly but I think bet365 used to have such option before and I don’t know if it is still alive.This can be good for casual gamblers as I think every day gamblers will not care much for such option because they are used to gamble with high amounts and they don’t like limitations.

xxjumperxx

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Well I probably know there are plenty of gamblers out there that don't practice Bankroll Management.
They just bet what they feel like betting.
If they win they get more confident and bet bigger, now if they lose they bet bigger because they chase or they are mad and bet higher.

Now if there was an option (of course you could remove it and still bet as high as youd want, but it can prevent) to limit max bet to say a % or a set amount that would decrease rage bets.

Hippocrypto

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Quote from: Ziskinberg on April 22, 2020, 02:04:53 AM

This is not yet available in sportsbook at least based on my observation.. What I see is they only limit a certain amount per account, that's how simple their limit are design.. the rest would really depend on how the gamblers manage their bankroll.

Limiting your certain betting amount is somewhat strategic compared with maximum capital as you push it. Every gamblers need to justify their first priority and analyzing what would be the outcome of their selected sports bets. If they failed to protect their bankroll, there's a probability of losing huge amount of crypto.

shoreno

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this is a good idea and the reasons were already describe above. for me , i always experience to rage bet everytime i win but most especially when im loosing due to being pissed off . i also experience an accident where i max my bet and loose it all . all of those are only experienced on a casino and not on sports game so it would be better if this idea will be provided on both kind of games . btw i thought your going to suggest a max bet button and i feel confused because max bet button is already been there and also many people are suggesting to remove it .

Ziskinberg

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This is not yet available in sportsbook at least based on my observation.. What I see is they only limit a certain amount per account, that's how simple their limit are design.. the rest would really depend on how the gamblers manage their bankroll.

xxjumperxx

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Hi,

So I have a thought.
I don't know if this has been posted before (probably has, but couldn't find anything).

My idea is on the crypto books to enable a setting that allows someone to define a max bet size.
Either it should be dynamic, so for example max bet 5%-10% of your Bankroll or a set amount, that can be adjusted or locked for x days.

This will benefit the gambler to stop him from:

a) Chassing losses
b) Rage Betting
c) No accidental high bets (betting 0.01 BTC instead of 0.001BTC)

Of course the Sportsbook will not benefit from it, because chassing loses is money for the book.

What do you guys think?

Topic: Implement a Max Bet Option on Sportsbooks (Read 260 times)