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gjohnson5
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Stolen from:
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Explanation of odds and Moneyline
- Thread starter gjohnson5
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Spartacus
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what are you doing on marijuana.com son?
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Spartacus
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potblut wump said:
yonkers weights
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Lol
blut wump
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Most threads in this forum are Bookie Events. You make a wager using your Karma and, with luck, walk away with a Karma profit.
Some events allow you to bet on multiple outcomes, one or all of which may be possible, but most events are just a simple "which side is better?".
Points Spreads
The Points Spreads maybe be confusing at first. You might see an event such as:
Chicago -3
Atlanta +3
This would indicate that, once the result of the game is in, you either add three points to Atlanta's score or subtract 3 from Chicago's score to get the winner of the bet.
So, say the result of the game was Chicago 20 - 18 Atlanta, then, while Chicago won the game itself, they only won by 2 points and so Atlanta would win the bet.
In the event of a tie, all bets are returned. Taking the above example again, if the game result had been Chicago 20 - Atlanta 17 then adjusting for the spread makes them equal. This is called a "Push" and all bets are returned.
Payouts
Once the event is over, the Bookie who created the bet will close the event and your winnings will automatically be credited to you. You always get your stake back when you win plus the payout. Going back to the above example, you might see:
Chicago -3 .. 95/100
Atlanta +3 .. 85/100 F
The 'F' shows you which side is the favourite and the odds are shown as 95/100 and 85/100. If you bet 100 Karmas on Chicago, and they win by more than the needed three points, as explained above, then you will be paid your 100 back plus winnings of 100 * 0.95 for a total of 195 Karmas. The 195 K payout will be added to your Karmas automatically.
If you bet on the losing side then the Bookie gets to keep your wager. That's his winnings.
Problems
If you have any problems or queries with an event or bet, contact the person who created the event first or post up in the thread, just the same as any other thread. If you have big problems, such as a Bookie refusing to close an event and pay your winnings after a day or so has passed, or an event changing after you've made your bet, then contact a moderator.
Being a Bookie
"I can do that", he says. It's not for the faint-hearted but anyone Plat can be a Bookie and create their own events. Just find something you'd like to host such as the Oscars or whether Elvis will be spotted in Target before the end of the year. Just make sure that it's something that can be verified and away you go.
The things to watch out for when making your own event are:
1) Getting the event right. This includes the details of close time/date and payout time. If you run a long-distance event such as who'll win the SuperBowl, people will realise that you'll not be paying out until February but, otherwise, make things clear. If people get confused then they won't bet.
2) Make sure you can cover the event. It's easy to make an event with a 10,000 limit but not a good idea if you only have 5,000 Karmas. You might get rich quick or you'll get busted and people might shout at you a lot. Keep in mind that you might get a pile-on and you could get wiped out.
3) Private events. Private events are allowed. Again, make things clear or you might find that everyone has piled on and then you'll get annoyed.
4) Settling the Event. When you come to settle the event you'll find a checkbox called "Tick here if there were no winning outcomes". Only tick that if all of the bets available have lost. If your event resulted in a tie and you need to declare a Push and return the bets then you need to contact a moderator to handle it. This is just to prevent any dodgy dealers.
5) Mods Only - Changing odds. You can change odds, start times and other details of your events. Note that anyone who has bet already will keep the odds that you had posted when they made their bet. If you change the odds then only later bets will be affected.
6) Mods Only - Changing the event itself. Never do this without good reason or if someone has already bet lest you get shouted at some more. It's possible to make an event such as the above Chicago -3 against Atlanta +3. When Chicago wins by 20 - 18, you might feel tempted to change the event to Chicago -1. This is cheating and will likely get you permanently banned from the bookie forum and you'll probably lose all of your Karma and there'll be even more shouting. If nobody has placed any bets yet then it's pretty much OK but post up in the thread that you've done it to keep everyone happy.
7) Calling it all off. If you make a bad mistake or want to call your event off for whatever reason, contact a moderator. He'll help you out and make the world a better place.
Some events allow you to bet on multiple outcomes, one or all of which may be possible, but most events are just a simple "which side is better?".
Points Spreads
The Points Spreads maybe be confusing at first. You might see an event such as:
Chicago -3
Atlanta +3
This would indicate that, once the result of the game is in, you either add three points to Atlanta's score or subtract 3 from Chicago's score to get the winner of the bet.
So, say the result of the game was Chicago 20 - 18 Atlanta, then, while Chicago won the game itself, they only won by 2 points and so Atlanta would win the bet.
In the event of a tie, all bets are returned. Taking the above example again, if the game result had been Chicago 20 - Atlanta 17 then adjusting for the spread makes them equal. This is called a "Push" and all bets are returned.
Payouts
Once the event is over, the Bookie who created the bet will close the event and your winnings will automatically be credited to you. You always get your stake back when you win plus the payout. Going back to the above example, you might see:
Chicago -3 .. 95/100
Atlanta +3 .. 85/100 F
The 'F' shows you which side is the favourite and the odds are shown as 95/100 and 85/100. If you bet 100 Karmas on Chicago, and they win by more than the needed three points, as explained above, then you will be paid your 100 back plus winnings of 100 * 0.95 for a total of 195 Karmas. The 195 K payout will be added to your Karmas automatically.
If you bet on the losing side then the Bookie gets to keep your wager. That's his winnings.
Problems
If you have any problems or queries with an event or bet, contact the person who created the event first or post up in the thread, just the same as any other thread. If you have big problems, such as a Bookie refusing to close an event and pay your winnings after a day or so has passed, or an event changing after you've made your bet, then contact a moderator.
Being a Bookie
"I can do that", he says. It's not for the faint-hearted but anyone Plat can be a Bookie and create their own events. Just find something you'd like to host such as the Oscars or whether Elvis will be spotted in Target before the end of the year. Just make sure that it's something that can be verified and away you go.
The things to watch out for when making your own event are:
1) Getting the event right. This includes the details of close time/date and payout time. If you run a long-distance event such as who'll win the SuperBowl, people will realise that you'll not be paying out until February but, otherwise, make things clear. If people get confused then they won't bet.
2) Make sure you can cover the event. It's easy to make an event with a 10,000 limit but not a good idea if you only have 5,000 Karmas. You might get rich quick or you'll get busted and people might shout at you a lot. Keep in mind that you might get a pile-on and you could get wiped out.
3) Private events. Private events are allowed. Again, make things clear or you might find that everyone has piled on and then you'll get annoyed.
4) Settling the Event. When you come to settle the event you'll find a checkbox called "Tick here if there were no winning outcomes". Only tick that if all of the bets available have lost. If your event resulted in a tie and you need to declare a Push and return the bets then you need to contact a moderator to handle it. This is just to prevent any dodgy dealers.
5) Mods Only - Changing odds. You can change odds, start times and other details of your events. Note that anyone who has bet already will keep the odds that you had posted when they made their bet. If you change the odds then only later bets will be affected.
6) Mods Only - Changing the event itself. Never do this without good reason or if someone has already bet lest you get shouted at some more. It's possible to make an event such as the above Chicago -3 against Atlanta +3. When Chicago wins by 20 - 18, you might feel tempted to change the event to Chicago -1. This is cheating and will likely get you permanently banned from the bookie forum and you'll probably lose all of your Karma and there'll be even more shouting. If nobody has placed any bets yet then it's pretty much OK but post up in the thread that you've done it to keep everyone happy.
7) Calling it all off. If you make a bad mistake or want to call your event off for whatever reason, contact a moderator. He'll help you out and make the world a better place.
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