Skiff Racer

[Ashaman]

 I'm curious about this Racer contest.  When does the race usually take place and how do you calculate winning?  I see it says 20% of pool.  But if I put in $10m cash into the pool, and another guy put in $100m cash in the pool, if I win, do I get 20% of $110m or 20% of $20m?

[Retto]

 The racer gets 20% of the pool.
The other 80% of the pool gets divided among those who bet on the winning racer (of which the winning racer may be one), distributed based on how much they put in for that racer over how much was put in for that racer overall.

so, if you had $100m in the pool, and another person had $100m in the pool against you, you would get $40m for winning, and $160m for your bets. if that other person's $100m was for you, you would get $40m for winning, and $80m for your bets.

[Ashaman]

 So if the pool is $1billion in which you put in $990m, and the other person $10m, if I win, I gets $200m off the pool, while the other person will also gets $200m off the pool even though he only put in $10m??  That's a rotten deal to me.

[Veranor]

 Err....  disregard this, misread your post.

[wolf bite]

So if the pool is $1billion in which you put in $990m, and the other person $10m, if I win, I gets $200m off the pool, while the other person will also gets $200m off the pool even though he only put in $10m??  That's a rotten deal to me.

The Pool is 1 bil, you win, you get 20% of the pool for winning, thus 200 mil.

Then the bets are paid off in the % of what they bet. Since you bet on yourself, and assuming no one else did, you get the other 800 mil. Thus 1 bil.

But your example is a little off. If the race has meny people in it and there is a lot of betting going on, then you may have 10 people each betting 100 mil on them self. The winner would take a bil.

If someone that is not racing bet on you and there are 9 racers, each petting 100 mil, = 1 bil pool. Then you win. you would take the 20% for winning, thus 200 mil. Then the rest of the pool is split with those that bet on you. you and the other guy that bet on you would split the 800 mil. Thus you end up with 600 mil and he got 400 mil.

It all depends on the game. You are right, if there is a race with little action and you are the only one betting big, then your odds of making maney as small.


Wolf Bite

[Ashaman]

 Assuming only 2 people betting:
Person A bet 990 million
Person B bet 10 million
Pool = $1 billion

Lets just talk about winning the pool, not the bet.
If A wins pool, A gets 20% of $1 billion = $200m
If B wins pool, B gets 20% of $1 billion = $200m

In this case, A win a very small amount of money compare to what A puts in.  Probably $2million in profit.
B on the other hand, wins a large amount that he put in.  B wins $198m in profit to what he put in the pool.

This kinda gambling doesn't seem to be fair is it?  It should be calculated as in a poker game.  You have side pot and main pot.  If you put $2 mil into the pool, then your winning should be only $2 mil * number of players in the pool that have at least $2m in the pool.

With this current code, no one would bet a large sum of money only to have another guy comes in and bet $1m and make 190+ times investment.

[wolf bite]

 

It all depends on the game. You are right, if there is a race with little action and you are the only one betting big, then your odds of making maney as small.

Retto and I have talked about other ways of working the races when in bata testing.  As for now this is how it works. If you have other ideas, then you are welcome to post them for concideration.

As it is now, if a lot of people play, then it is fun.


Wolf Bite

[Retto]

 For illustration, as it seems your confused:

Player A enters into the skiff races against Players B and C
none of them bet.

Player D bets $200m on player A.
Player E bets $100m on player B
Player F bets $10 on player A.

The pool of bets is $310m.
if Player A wins, player a gets 20% of the pool - $62m. Player D gets 200/210 (his bet over the total bets for who he betted for) *(80% of 310) - 236m. Player F gets 10/210 * (80% of 310), or $12m.

if player B wins, he gets 20% of the pool - $62m, and player E gets  $248m.

If player C wins, he gets 20% of the pool - $62m, and the rest of the pool is disappeared.

[Veranor]

 

For illustration, as it seems your confused:

Player A enters into the skiff races against Players B and C
none of them bet.

Player D bets $200m on player A.
Player E bets $100m on player B
Player F bets $10 on player A.

The pool of bets is $310m.
if Player A wins, player a gets 20% of the pool - $62m. Player D gets 200/210 (his bet over the total bets for who he betted for) *(80% of 310) - 236m. Player F gets 10/210 * (80% of 310), or $12m.

if player B wins, he gets 20% of the pool - $62m, and player E gets  $248m.

If player C wins, he gets 20% of the pool - $62m, and the rest of the pool is disappeared.

Yes but:

Player A enters skiff races against players B and C.
Player D bets $200m on player A

Player D logs off and waits for other people to bet, but no one does.

Player A wins:

Player A gets 20% of pool ($40m)
Player D gets 200/200 * 80% of 200.

See? Player D loses money simply because no one else bet.

Or

Same scenario except Player E bets on A as well ($10m)

Player A wins:
Player A gets 20% of pool: $42m
Player D gets 200/210 of 80% of total pool: 159.9 (He has just lost money)
Player E gets 10/210 of 80% of total pool: 7.9m (He also loses money)

So if your bet is greater than 80% of the pool or everyone bets on the same racers, you lose.


Proposal:

House pays for the 20% to the skiff racer so, people who bet on winner get their bet/total bet on that racer * total pool.

Nevermind, that's exploitable. Clan sets up a racer and everyone bets on skiff racer. No loss and they get 20% extra.


Or if everyone bets on the same player, everyone gets a refund and the skiff racer gets their troops back, or you wait at least till there is betting on another racer of 20% or greater.  

[Ashaman]

For illustration, as it seems your confused:

Player A enters into the skiff races against Players B and C
none of them bet.

Player D bets $200m on player A.
Player E bets $100m on player B
Player F bets $10 on player A.

The pool of bets is $310m.
if Player A wins, player a gets 20% of the pool - $62m. Player D gets 200/210 (his bet over the total bets for who he betted for) *(80% of 310) - 236m. Player F gets 10/210 * (80% of 310), or $12m.

if player B wins, he gets 20% of the pool - $62m, and player E gets  $248m.

If player C wins, he gets 20% of the pool - $62m, and the rest of the pool is disappeared.

So in your illustration, I see Player A entered the race, but not betting.  Yet, if he wins the race, he gets 20% of the pool even though he didn't bet a dime?  That's pretty good profit for just entering the race without betting.

[Arguia Zsah]

 15.8 hours ago You won $1,958,247 off of your bets on the Skiffs races.
15.8 hours ago You won $2,005,726 off of your bets on the Skiffs races.



yay!!!! first time I bet as well...

[Veranor]

For illustration, as it seems your confused:

Player A enters into the skiff races against Players B and C
none of them bet.

Player D bets $200m on player A.
Player E bets $100m on player B
Player F bets $10 on player A.

The pool of bets is $310m.
if Player A wins, player a gets 20% of the pool - $62m. Player D gets 200/210 (his bet over the total bets for who he betted for) *(80% of 310) - 236m. Player F gets 10/210 * (80% of 310), or $12m.

if player B wins, he gets 20% of the pool - $62m, and player E gets  $248m.

If player C wins, he gets 20% of the pool - $62m, and the rest of the pool is disappeared.

So in your illustration, I see Player A entered the race, but not betting.  Yet, if he wins the race, he gets 20% of the pool even though he didn't bet a dime?  That's pretty good profit for just entering the race without betting.

It's iffy. If everyone bets a lot then you make a killing, otherwise the stuff needed to enter could outweight it, correct?