okiN's bookmaking

[Leshma]

I have that much, and no deal. Like I said, I already have someone who offered to lend me money for this without even asking for a cut.

You must have some turkish blood in your veins...

Fine, I'll give you my million for free and if you feel like it, you can give me something in return. But don't be an ass and steal it, please. I want so badly to be part of this.

[Dravic]

You must have some turkish blood in your veins...

Fine, I'll give you my million for free and if you feel like it, you can give me something in return. But don't be an ass and steal it, please. I want so badly to be part of this.

Give the money to me, I will make lots of lotteries with really high prizes.

If you like to gamble, you can take giving your million to me as a gamble. ;)



PS

I am serious, lotteries are fun.

[Leshma]

Lottery is for old people.

[okiN]

You must have some turkish blood in your veins...

Fine, I'll give you my million for free and if you feel like it, you can give me something in return. But don't be an ass and steal it, please. I want so badly to be part of this.

Cool, that gives me a bankroll of over two mil. Should be enough to cover a reasonable amount of bets in the tens of thousands, even. Probably better to start smaller, though, to see how it works in practice. I'll call the maximum bet 10k for now.

So okay, I'll give it a shot. You can all feel free to suggest things to bet on, if they sound good to me I'll fix some odds.

Lottery is for old people.

He wants free money with no risk. Me, I consider this an adventure! I have zero past experience as a bookie, so it's entirely possible I'll end up in the red.

First post updated! Let's get this show on the road.

[cmp]

How will you decide odds?

[Leshma]

It's fine. If you somehow manage to lose money as a bookie, I bet people will make fun of you and that is worthy of a lost million

[Leshma]

How will you decide odds?

Statistics, probability. How else. I hope he don't plan making them up, if that's the case we are doomed

[okiN]

Obviously we don't have access to the kinds of stats that real-world bookies have with sports, but I'll do my best to track results any way I can. I won't lie, though, it's always going to at least partly come down to gut feeling, there just isn't enough information for truly reliable predictions. Still, there are ways to control the risk, so we'll see how it goes. Like I said, it's an experiment.

[Apsod]

I am up for a duel with anyone, I am an average player so if I am going up against someone pro like Phyrex or LeoKing they willd probably win.

Oh and my current level is 23, so yeah. Not that high

[Mosquito]

You would probably be well advised to 'pick your fights' here ie decide your own markets well in advance and don't allow ppl to give you a 'good opportunity' for a book, that way you can get some advance interest in the event/market and also lets you get ahead of the crowd doing your homework on the field.

Have you decided the first event you will cover yet Okin?

[okiN]

Not yet, it seems pretty quiet in terms of events right now. That's why I suggested people could tip me off in the first place. Obviously I'd be very selective about what suggestions I'm willing to follow up on.

If nothing interesting turns up soon, I might just try to set up a few exhibition matches between some top duellists, to see what kind of response it would get in terms of betting.

[FRANK_THE_TANK]

I completely forgot to say Okin.

In Australia we have a game called 2 up. Rules are pretty simple. 2 coins get tossed in the air and eveyone bets heads/heads tails/heads tails/tails.

You don't need to front any money as the booky and a lot of the time the game is played with out any offical at all.

What I would suggest is that you take a 2.5% cut, unless it becomes a pain in the arse, jack it up if thats the case. Instead of odds you just have a blanket wager. Bets are 2.5k so all you need to take down is who is in and who its on.

The winners get the divided loot.

Simple, fast, easy.

[okiN]

The fixed odds are the whole point of this for me, running a betting pool would be boring. Dezilagel already does that for his duel thing anyway, and he's nice enough to do it for free. If I only wanted to part fools from their gold I'd be doing something like Dravic's lottery: putting nothing up himself, just making players compete against each other and still having the gall to take a 20% cut of everyone's stake, talk about your easy money -- and that's assuming there's no graft, nobody else has any way to keep track of what he's doing so turning it into a full-on scam would be laughably easy. Still, more power to him if there are people stupid enough to buy into it. Personally, I'd be happy to make some cash off this, but the gamble is part of the fun.

[Dravic]

The fixed odds are the whole point of this for me, running a betting pool would be boring. Dezilagel already does that for his duel thing anyway, and he's nice enough to do it for free. If I only wanted to part fools from their gold I'd be doing something like Dravic's lottery: putting nothing up himself, just making players compete against each other and still having the gall to take a 20% cut of everyone's stake, talk about your easy money -- and that's assuming there's no graft, nobody else has any way to keep track of what he's doing so turning it into a full-on scam would be laughably easy. Still, more power to him if there are people stupid enough to buy into it. Personally, I'd be happy to make some cash off this, but the gamble is part of the fun.

I am sorry to hear, that you think I'm doing my lottery only for profit.

Yes, it was 20% rake at first, but consider this:

Ticket cost was 1000. 20% from 1000 is 200. I was selling different things as tickets - from stones to scythes. That costs too. So let's say that on average the ticket-item itself costed me 50 gold.

Is getting ~~150gold per ticket is so much? Nice joke.

Also, note, that the current edition of the Lottery's ticket's price is 5000 and the rake was effectively reduced to 10%. That gives me 500 gold per ticket.

Boooyah, so much money... 


Also okiN - I don't think, that you read my thread carefully. The money I get from tickets may be used to make some other editions of Lottery one day.

[Dravic]

I remember an ingame betting system used in counter strike via a script. During round a message would say "place your bets" where you were offered to chose amount of money and than team that you think would win. Is that possible?

Possible? Yes. Probably? No.