Garvey Speranza: Karma Bookie Issues

[swole]

I am getting sick of people abusing the karma bookie forum. We need the following to take place:

1. If a bookie risks going in red, he shouldn't be allowed to cover the event.
2. If a bookie goes into negative K because of an event, he should have to buy more K from the K store or else he/she is banned from the bookie forum.

Both myself and musclemuscle have purchased K in the past. Detroitbodybuilders has been in the red before and waited until his K gradually went positive instead of purchasing it from the K store. Now he's in the red again. Musclemuscle is putting 10:1 odds with a max bet of 40,000 karma hits. 40,000. I don't think he will purchase $1,000 worth of K hits from the store. Basically he's using GS's K hits instead of putting his own K at risk.

I love the bookie forum and all the fun us bookies provide, but these issues should be taken care of ASAP. Let's uphold the integrity of that room.

 

[pintoca]

I said before and I will repeat: The minute a bookie goes into the red cause of an event, his CC should be charged with the karma required to pay out and balance at 0. In other words, no bookies with no CC.

Hey, in real-life, some thugs would go to your house and give you a colombian necktie

Its all about integrity

 

[chefbone]

Good morning, good bro's
That's some scandalous shit. I know some brothas that'll take care of that.

 

[KillahBee]

Explain this to me a little more swole, as maybe I don't fully understand how the bookie forum is run. Are you saying that some bookies are (or are able to) set up events and take bets without having the K to back it up? Once an event is closed, does the k automatically get taken from the bookie and distributed to the winners?

 

[swole]

Explain this to me a little more swole, as maybe I don't fully understand how the bookie forum is run. Are you saying that some bookies are (or are able to) set up events and take bets without having the K to back it up? Once an event is closed, does the k automatically get taken from the bookie and distributed to the winners?

The bookie sets odds and maximum karma wager on his own. I can set 1000:1 odds with a 40,000 K wager max...even if I have 1 karma point to my name. The bookie has to manually settle the bets. Sometimes Dev (or any other mod) settles the bets after the event is over. When the bookie settles the event, the karma gets distributed to their rightful owner and winner. Not only will the bookie's green go down, but he can go into negative figures (see detroitbodybuildertigers and chase152 before he was banned). This happened to me before because I set up a boxing event and the underdog won. My K was 1000 hits in red and I purchased $40 worth of karma to get it back up. I don't have a K problem now because I've improved the way I handle my events (not to mention my K whoring abilities).

I don't like how musclemuscle set up a 10:1 shot with a 40,000 maximum K wager. He was down to 11,000 karma points before setting up this event. He did this because he got hit HARD last night with a 4:1 shot and thinks this will put him back in good shape. This is NOT how bookies work. The proper thing to do is set less rewarding odds on cheaper K wager events...or purchase K from the karma store. If the 10:1 KC shot wins tonight, he'll be minus about 940,000 karma points. Yea, 940,000 k, all in the RED. That's about $500 worth of K from the store. In essence, he is risking EF's karma (aka George's karma), not his own. He is putting EF at risk, not himself. Think he'll purchase $500 worth of K? LOL.

 

[bran987]

yep, totally not fair to the honest bookies

 

[George Spellwin]

Great posts swole. I think mosts bookies will cover their bets though and buy more K if they need to. If they do not, we will add them to the hall of shame and ban them from doing anything with Karma.