IPL has just kicked off and today is the third match day. So I thought of creating a thread for IPL betting as a forum pass-time. Please participate if you enjoy...
This is how I have planned the rules...
1. Players will always bet against a fact, i.e. which team wins.
2. Amount will be distributed among the winners according to their % of share.
3. 5% house edge will be deducted to run the service.
4. Minimum bet = 0.0001 BTC
5. Bet accepted till the opening ball of the match.
Below is an example with first match of KKR vs MI...
A bid against KKR for 1 BTC
B bid against KKR for 3 BTC
C bid against MI for 2 BTC
D bid against MI for 1 BTC
E bid against MI for 3 BTC
F bid against DRAW for 2 BTC
Therefore...
Total bid against KKR = 4 BTC by A & B, i.e. If KKR cant win, A & B will lose a total of 4 BTC
Total bid against MI = 6 BTC by C, D & E, i.e. If MI cant win, C, D & E will lose a total of 6 BTC
Total bid against DRAW = 2 BTC by F, i.e. If the match is not DRAWN, F will lose a total of 2 BTC
Total jackpot = 12 BTC - 5% of 12 BTC = 11.4 BTC
Match Result: KKR won the game
Therefore, 11.4 BTC will be distributed among A & B in 1:3, i.e. their bid ratio.
Bet result: A wins 2.85 BTC and B wins 8.55 BTC.
************************************So the game begins*****************************
June 1, 2014 - 1% house edge for this bet
IPL Final Match : KKR vs KXIP
Deposit address against KKR (You lose this amount if RR does not win) - 1KKRK8AJchhtP6eYR5TcH7Ur4nhDa1fkAu
Deposit address against KXIP (You lose this amount if KXIP does not win) - 1KXiPYjTEqrsSpY6ABfkyCtw74c34JYUC4
Deposit address against DRAW (You lose this amount if match is not drawn) - 1DRAWnfb154dksvyf1pFu2bs2wVmTuf1n1
Note 1: Please send funds from a single address as winning amount will be sent back to this address.
Note 2: Tx fee will be deducted from the jackpot before payment.
Note 3: escrow.ms is holding escrow for this bet.
p.s. Please understand I am running this purely on experimental basis. Please do not bet anything that you can not afford to lose.
