Topic: 🏆The Maharaja of Bitcointalk🏆 Sports bets Tournament by Sportbet.one - page 6. (Read 2218 times)

Thank you for these explanations but what is the rule in case of a losing bet, the participant will lose all his stake, not only 5% of his balance right?
Do you plan to update frequently the participant balances in your spreadsheet?
Because participants will have to take those calculation rules into account when they'll place their bets and eventually make the calculations themselves if their balance hasn't been already updated.
Wouldn't it be easier to just not allow for the tournament bets above 5% of the balance? If someone would submit such a bet, the bet would be just not counted for the competition?

I was going to manually do each calculation but yeah, with the extra week I have, I might devise a formula or commands so that I can just input the data and ROI automatically shows up. Do join in. Its always good to know where we stand compared to the rest. You might win haha. You just never know.

Edit: Updated banner. I have both the banners, which will be given to the winners for display along with an avatar.

Thanks to entebah and OP for the explanations. Yeah, it does seem a bit convoluted to me, but ok, clear enough, so you're actually calculating based on wager indeed (which I thought was more practical, to cap the wager amount to be counted).

I guess you'd need a spreadsheet with formulas to help you (and players) see the standings. It does sound like a lot of work for you!

If I do play, I'll declare a 20mbtc bankroll probably, which is just over $1000 right now. Kind of based on my current base bet which is 0.2mbtc in 2021, adjusted for past and future BTC appreciation ha!

Feel free to post a question here if you have any doubts regarding the rules. Please do join in. The contest was supposed to start on 8th March but I have delayed it since we haven't reached the goal of 20 participants that would be required the prizepool to be as $600. If there are lesser participants, the prizepool would be lower depending the number. I hope 20 participants isnt too much to ask for a free to enter tournament. I will personally invite more potential contestants and see how it goes. Hopefully we hit the magic number in a week's time.
Regarding the name, I feel so too. King felt just alright but calling it Maharaja felt exotic and to me personally a lot more relatable and a sense of power.


Wouldn't you like to know how you have been doing in terms of ROI compared to good tipster? I will try to add some bonus fun events if we do reach the goal of 20 participants, that we are shy of. Please do participate. It's free to participate anwyays.  


Thanks @entebah for quoting the explanation for the questions 1 and 2.

3. I think you have the ROI calculation wrong. Let me explain what his ROI will be if he spams 1.05x all in's. Well, first of all, if you lose all of your bankroll, you are out of the tournament(there might be an option for re-entry or paid entry in the future, the entry fees will be added into the prizepool). Lets just say the person has unlimited entries, His entire bankroll is 1mBTC and he plans to bet that on a bet of 1.05x. He wins the bet.
Now, according to the rules of the tournament, 5% max will be considered as stake for the bet, you for ROI table, your bet will be considered as 0.05mBTC. Now, you've won the bet at the odds of 1.05x. So, You've won 0.0025mBTC.

Now, What was your betting stack before the bet = 1mBTC.
How much have you bet = 1mBTC
How much will be considered as bet for the competition(5% of current balance) =  [(5x1)/100] = 0.05mBTC
Odds that you've bet at =1.05x
Bet status = won
Tournament's bet calculation = 0.05(tournament considered bet) x 1.05x (odds) = 0.0525mBTC
Amount won = Tournament's bet calculation - Considered bet = 0.0525 - 0.05 = 0.0025mBTC
New Balance = Bankroll before the bet + Amount won = 1mBTC+ 0.0025mbtc = 1.0025mBTC
ROI[(balance before bet x new balance)/100] = 0.010025%

Your ROI and Balance will be updated after every bet you make (its a lot of work for me, but I'm happy to do it).
Which means, after every bet you make, I'll calculate all the above and then calculate the ROI for the competition accordingly. The first screenshot will obviously be calculated first.
Hope this answers your question. Let me know if you have any doubts regarding the same.

In the case above, like youve said the person going all in, he will be going all in to make 0.010025% ROI. Which means, He is risking getting out of the tournament to get 0.010025% ROI, which isnt impressive tbh.

A big thank you to @vennali for the invitation. I have read the rules but still need to do some more reviewing which I would do later. I would work on getting my bankroll ready for the competition. I place sports bets for free why not do it for a competition as well?  I just need to cross some Ts and dot some i(s) but I should be good to go long before the competition officially kicks off on March 15th. Feeling excited and lucky.

I also voted for "Maharaja of Bitcointalk" since just using the "king" word sounds too plain and it's a kinda cliché too.

The competition is nice, but I think I would not enter here as I believe there's a lot of great sports bettors who will participate. I'll just watch the show who will win, this is a one month event right, I think I'll just enjoy myself watching the shared bets, maybe follow it sometimes, whoever is hot in this competition. I'm checking in and out but no intention to participate, but please allow me to say my Good luck to you all.

voted for "The Maharaja of Bitcointalk" anyway, it's unique and I understand it. 

i just want to help to answer it and i get the answer from his post

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i still not understand about this maybe the OP can answer it but maybe OP can see this thread to take a few rules from it because as i know there is a tipster competition that held a few years ago
with all the rules is very clear and easy to understand
here the link for the thread FREE Tipster Competition - 1 BTC in PRIZES - Registration Closed


 

OP Thank you for the invite, and I will most certainly participate, probably only using my daily bets anyway since I place them and participating only requires me to add it here.

But a few questions:
1. Are there any limits to bet frequency? I can imagine a guy who has the time to post 20 bets a day might do so only to ensure he ends the day with ROI, could have an advantage over the guy who will put a handful of bets down a day.

2. Parlays ok too?

3. ROI calculation is not clear. You mentioned that a guy could still bet 10% of his bankroll but if he loses he only loses 5% in the calculations... this feels like a sort of loophole. For instance. I can declare my bankroll of 1 mbtc. And bet 10 times 1 mbtc on odds of 1.05. I might lose 2 or 3 of those, but I can end up with 35% ROI because of the max rules, at a possible sacrifice, of course, but still. Shouldn't ROI be counted on total winnings or losings, but cap the wager to 5% of bankroll to prevent martingaling etc? And cap the winnings to 5% on bankroll? Why penalize the guy who wants to do 10/1 parlays though? Or do I not get the rules correctly? =)

4. So a person can declare ANY bankroll and any currency, and max you win or lose 5% of the day's starting bankroll or initial bankroll per bet in 24-hr period GMT/Forum time?

Hi it's nice to see this kind of competition, we could see here who's really good at giving tips but anyway this kind of post will this should be in games and rounds or let it stay here to see by many kind of gamblers since they stay more in gambling section rather than games and rounds.

The bankroll doesnt matter. The only thing that matters is what you can do with the bankroll. Start with whatever you are comfortable with and try to do your best. There is no odds restriction either. Regarding the name, you can still vote if you'd like the title to be called "the King of Bitcointalk"

Thanks for invitation! I'm interested to join, but I have questions before it. Is it there minimal amount for bankroll is required. Or it doesn't matter, it can be $10 or $100 in BTC?
Me too. I've never heard this word before and I had to Google it.

Yes that is correct. Whatever you've posted before the match starts, stays as a valid bet and will be counted. Whatever you do during the match, is up to you.

You learn something new everyday. For today, its the word Maharaja (And hopefully something more). Well, you've now learned about the contest as well. Do take part. It is free to register.


Yes, that is correct. Good luck.

Sure, i'll have a look and post if I find something that might interest you. Feel free to reach me on telegram and maybe we can discuss it. My telegram username is "Vennali".

You mean, if I place a bet and send you a screenshot of the same with specific odds but cash it out in between and the game ends in a loss (I mean the game doesn't end in my favor after my cashout), you'll not consider my cashout as something won (ROE in general) and will consider it a loss, am I correct?

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It's an ancient word used for "Kings" who used to rule during their reigns in India.

I have never heard of the word "Maharaja" actually.

LOL nobody understands Maharaja?   In which country do you live? I don't think it's a matter of language but more a matter of general knowledge, because Maharaja is a word famous all over the world.

As long as its pre-match bets and posted on the forum it will be counted right? I just hope I can come close to +25% ROI in a month. I'd be happy with that.

I am looking for sponsorship for the pool. I still have not knocked the people I know because of not having much time to spend on the forum. However if you can find a good deal then please let me know.

It's off-topic to discuss here. Feel free to make a post on the pool topic: https://bitcointalksearch.org/topic/ipl-2021-entry-free-discussion-end-joining-open-5321161

Cheers,

That's not an issue. I wont be looking at the games subjectively(. The only things important for me are the odds you get for your bet and the stake you've put(and starting stack). I'll calculate the ROI accordingly. If your sportsbook gives you a bet boost and you want to bet on it. Sure go ahead. It shouldn't be a problem for the competition.

Regarding participation, The numbers are looking okayish. I was expecting bigger turnouts tbh but lets see, still 2 days to go. The tournament will happen whatever be the turnout. The prize pool however, may be effected if the final turnout is too low. So, please do invite anyone who might be interested over the forum. I'd appreciate it. I think competition would be a lot more fun if there are more participants.


All I will be looking at are pre-match bets that are shared via screenshots before the match starts. You can cash out the bet if you are uncertain during the live event. I can't stop you from doing that. You wont be allowed to delete your screenshots though and once posted, the bet will be counted towards your ROI.

What about the odds boost not all bookies have them but can we use them to a certain extent or no?  For example if sportsbook1 offers 1.75 on the favorite to win while sportsbook2 offers 1.7 but with odds boost you'll get 1.75.

Also how's the number of participants looking at the moment, did we reach the minimum ?

Are cashouts allowed in this tournament? Or do we need to hold the bet till it is either won or lost? I think that when it's all about ROE, Cashout option will be very helpful and can add some extra spiciness to the challenge as only a few people here know about how to effectively use this Cashout thing in their favor. If their odds were 2.1 or more during the game and then, there are just a few minutes remaining, why not just cash it out while also taking a snapshot of the same and send it to you, so you will know the % of.profits that took place in that bet.