Sometimes Even the House Edge is not Against you Rather the Player You Bet On - page 2.

coin-investor

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Quote from: Alphakilo on December 29, 2024, 01:58:27 AM

You can do all your analysis and make the right bets, yet even now, it's not the house edge working against you, but the player. Those who bet on Magnus Carlsen to win the World Rapid and Blitz Chess Championships in New York must be very upset because the player decided to quit for the most unbelievable reason. No one saw this coming not even me.

The chess world was surprised he should be allowed to participate in that round because he promised to follow the dress code on the next round but they don't allow him, Chess genius are like that; they have their principle that they want to follow, just like the case of Fischer, I hope they will patch things up going to the next rounds because Magnus is not yet banned from the tournament based on the story and he is the top player in this tournament.

uneng

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Quote from: Alphakilo on December 29, 2024, 01:58:27 AM

Did any of bet on Magnus Carlsen to win? And what do you think about the whole situation that happened?

In this particular case, I think it shouldn't be an issue for gamblers, since the player didn't play, so the bets should be just annulled and money returned to each bettors. Anyway, what a stupid rule to not be allowed to wear jeans. I don't criticize the player for not agreeing with a stupid rule like that, because jeans is a clothing for every occasions, casual and formal ones. It would be inappropriate if he was wearing swimwear, outfits you wear to go to the beach or something like that...

But indeed, one of the cons of sports betting is that it doesn't depend only on your predictions and on the casino, but also on a third element, which is the player or team which you are putting all your expectations over.

Dr.Bitcoin_Strange

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I didn't bet on the game but this incident is an example of what I was saying before now on one of my previous post, no matter what strategy a gamblers uses to make a perfect prediction which is supposed to be a successful bet, there are some unexpected factors that can come up and make the bettor to lose their bet, that totally suggest that gambling is based on luck and not how well you can make good prediction.
For the player, he quit for no valid reason, that incident is not any good reason that can just make him quit.

boltz

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Because of their EGO , we the bettors we lose at odds under 1.30 and I personally don't take odds under 3 no matter what. I prefer to play it risky instead of seeing how a tennis guy melds and trow his rocket on the ground because of his big EGO , or an NBA player who don't want to shoot an open 3 and and decides to make a pass and many other examples.

I also think some betting house know details of personal life for some players and that is where the bait actually begins. Grin

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Quote from: Alphakilo on December 29, 2024, 01:58:27 AM

~

Sounds incredibly dumb. Like why should it even happen in the first place? Granted I'd say Magnus just doesn't really give a crap any more with chess tourneys/championships? Prideful yeah, but again, he stayed at the top for years. I reckon it's just inside him to be that prideful (not that it's justified tbf, rules are rules).

Anyway, I think the match is declared void here? Refunds people, refunds. At least that's what I'd consider to be what bookies would do. Magnus didn't really "forfeit" or anything. I reckon anyone who didn't get a refund can argue for it?

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This is the downside on betting with the lunatic and high ego player. They can quit whenever they want since they are already on the top which means they control everything.

I read this news and I find it absurd reason to quit a tournament not to mention that his jeans is so tight that seeing it makes me uncomfortable.

Anyway this scenario is happening frequently too in tennis which has a lot of high ego players. House edge on sports like this is negligible especially when players with unstable thinking is involved like Magnus.

bitbollo

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this is somewhat... questionable at least, and I am really surprised to see this. but this is also a weakness for our hobby.
if you see a crazy event, you can't do just nothing. unless you have a big stake it would be even not economical profitable.
thats why betting has such limit... and thats why also low odds have always an intrinsic risk that is not easy to take in account.

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The bookies will refund the money, so no gamblers are losing here.

It's more make sense like this, you bet on a team to become a champion in Premier League, but in the middle of the league, the key player is injured and out of season. This make the team performance fall really deep and it looks like they will not able to comeback.

You know which team I'm talking about. Wink

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Quote from: Alphakilo on December 29, 2024, 01:58:27 AM

...And what do you think about the whole situation that happened?

Sports betting is different because there is a human factor involved, as was the case with Magnus Carlsen. In this case, the result may be unpredictable if the player you are betting on has any psychological or physical problems.

You can expect anything from Magnus Carlsen antics) He had previously appeared at the tournament in Spain in shorts and a T-shirt, which caused criticism from the organizers.

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Gambling is risky still, either the player you bet on behaves unexpectedly or not.

Some will sustain injury and that will be the sign that the game will probably end very badly, some will just not be in a very good mood on that day, so you betting on them is risky still, they don't care if you place bet or not, they don't even know anyone.

Most gamblers are just gambling without understanding the risks, I have a friend who bet on Super Monaco sports and in the middle of that car race a crash took place and it was so over, these things are meant to happen, manage your money well.

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Magnus Carlsen and the governing body FIDE have not had the best of relationships lately which must have played a part in this issue being as drawn out as it was.

If this counts as a forfeit, the bookie may not return money to those that bet on him to win. He was likely not to win with the run of results he was having leading up to his withdrawal.

- Jay -

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I can only imagine the frustration of those who backed him. I just can't believe he quit a major tournament over wearing jeans. I mean who would have thought that a dress code would be the downfall of such a legendary chess career? I wonder what the reason behind the strict dress code was. And did he really have no other choice but to quit? Do you think he overreacted or was he justified in standing up for his principles?

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Quote from: Alphakilo on December 29, 2024, 01:58:27 AM

You can do all your analysis and make the right bets, yet even now, it's not the house edge working against you, but the player. Those who bet on Magnus Carlsen to win the World Rapid and Blitz Chess Championships in New York must be very upset because the player decided to quit for the most unbelievable reason. No one saw this coming not even me.

Quote

World chess great Magnus Carlsen has quit a major tournament after being told he could not participate while wearing jeans.

The Norwegian was defending his World Rapid and Blitz Chess Championships in New York on Friday when governing body FIDE made the request.

He said he offered to change his trousers for the following day before being fined and told he needed to change straight away.

Did any of bet on Magnus Carlsen to win? And what do you think about the whole situation that happened?

The news article was published on Daily Mail

I think that nitpicking jeans and disagreements between participants and tournament organizers happen extremely rarely. I would even say that this is an isolated case.

On the other hand, shouldn't the casino (or bookmaker) return the bets placed on Magnus Carlsen to the gamblers? What happened is a kind of force majeure circumstance, to which the gamblers have nothing to do, and therefore should not bear the burden of responsibility in the form of losing the bet.

Yes, Magnus Carlsen will probably not become a winner now, but this did not happen as part of his participation in the tournament, but because of a conflict with the organizers.

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Quote from: Hatchy on December 29, 2024, 02:13:12 AM

I wonder if he has always played that way since in other tournaments. Because if not, he wouldn't have done what he did when he was asked to change his jean. Well, that is more reasons why i don't bet on much games, I prefer soccer as we know they have standards and rules guiding them...

I am sure those who bet on him would be refunded since it was cancelled, but as you said, the most annoying thing is being so rude or do i say arrogant of himself for not abiding to rules and regulation of the game. I believe as an old player who knows about the cheers game should be aware when entering such place he shouldn't have wore something that is against their standard and also not inline with their dressing codes.

Could this competition be fixed again?

Kelward

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I believe that house edge is more practical in casino games than sports bet, in casino you're dealing with machines that have been programmed for gamblers to lose more than wins. In sports bet your wins depends on the performance of the athletes or teams that you're betting on so it's true that house edge is not much pronounced in sports bet. Your team or athlete can underperform or be unlucky and it'll affect your bet, this is because humans are not programmed to always give a particular results. Couple of factors can make athletes to loose focus or be suspended whereby causing gamblers to lose their bets.

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Quote from: Alphakilo on December 29, 2024, 01:58:27 AM

Did any of bet on Magnus Carlsen to win? And what do you think about the whole situation that happened?

The game was not finished. So I expected bookies to return the money of those that bet. You bet on it and the gambling site that you used did not return your money? They ought to return your money.

I prefer sport betting. My experience there is that anything that does not make a match to end will result to the betting site give people back their money.

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Well, such shocking actions are sometimes found among athletes. And in chess, where the best minds are gathered, the whims of champions are common. There was such an undefeated champion Robert Fischer, who was called the king of chess outrage in the media.
In fact, of course, it's unpleasant when, for a completely stupid reason, the competition breaks down, which you waited for, placed a bet, and as a result - nothing. Although, for me personally, it is much more unpleasant to lose a bet, as I recently lost a bet on Tyson Fury.

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Seems if you did make a bet it should be refunded as a no bet IMO. Guy never played in the tourney. I think he should have been aware of the dress code though and not entered if he couldn't or wouldn't comply.

Quote from: Hatchy on December 29, 2024, 02:13:12 AM

That's another thing again.. pride.. I wonder why some players just so full of them selves. This is something that a whole lot of people are coming from far and near to watch you play not just because of the bet, but because they love you. Instead of doing what you know is right, you quite the game for a reason that makes no sense. I wonder if he has always played that way since in other tournaments. Because if not, he wouldn't have done what he did when he was asked to change his jean. Well, that is more reasons why i don't bet on much games, I prefer soccer as we know they have standards and rules guiding them...

Seems like a silly thing to be prideful about.

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Quote from: Alphakilo on December 29, 2024, 01:58:27 AM

You can do all your analysis and make the right bets, yet even now, it's not the house edge working against you, but the player.

Not until I bets on one-on-one challenging match or game directly against other players like having a gaming tournament with friends at the casinos would I believe I and players are betting against each other and not the house. Then I am either to take the wager or the other player does.

But if I am literally betting on no opened challenger as that, then it is believed that I am betting against the casino house which I am either to win or the house wins.

So apparently the difference of betting against the house and other players is quite clear as the bookmakers has already programed the sites with instructions.

Hatchy

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That's another thing again.. pride.. I wonder why some players just so full of them selves. This is something that a whole lot of people are coming from far and near to watch you play not just because of the bet, but because they love you. Instead of doing what you know is right, you quite the game for a reason that makes no sense. I wonder if he has always played that way since in other tournaments. Because if not, he wouldn't have done what he did when he was asked to change his jean. Well, that is more reasons why i don't bet on much games, I prefer soccer as we know they have standards and rules guiding them...

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