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Introducing Thread Wagering!

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** Betting is CLOSED - all winnings have been paid out by TalonMan **

 

Which VGChartz feature does TalonMan love most?

Prediction League 1 $0.15 2.94%
 
User Profile Updates 0 $0.00 0.00%
 
VG$ Store 2 $5.14 5.88%
 
Game Database 25 $11,608.50 73.53%
 
Thread Wagering 1 $50.00 2.94%
 
New Badges 1 $100.00 2.94%
 
Thread Subscribing 0 $0.00 0.00%
 
Upgraded Forum Text Editor 3 $826.00 8.82%
 
Site Themes 1 $170.00 2.94%
 
 
Totals: 34 $12,759.79  
Game closed: 05/18/2019

A number of you have asked for it, so here it is: Users may now create bets within their threads, and allow the community to place wagers with their VG$!

**Let's all be very clear from the start here and make sure we get off on the right foot**
I have a fairly high level of confidence in the functionality from a bug standpoint, as well as the checks in place to prevent people from gaming the system - I have very little worries in this regard. I do, however, have my doubts that this will be the final version of how this will ultimately work. I spent several days thinking through various scenarios and how I thought something like this ought to work - but by no means does this mean the community at large won't want something slightly (or significantly) different, than my vision or that I'm closed off to any new ideas. We'll work through it together and if it's something feasible from a technical level and I feel it will improve the overall experience, I'll absolutely consider and work to enhance...   ...in the meantime, welcome to Version 1! 

Adding bets to your thread is almost exactly the same as adding polls (you'll see a new checkbox when creating threads to "Add Bet" or you can also go back and add to a previous thread, if you so desire): Enter the question you're posing, and then up to 10 options for users to select. One additional option is available, and that is for you to select an "End Date" for when you want to stop allowing any further bets. If you select a date, the game will close automatically on that date - if you don't, then the game will remain open indefinitely until somebody manually closes it.

Once the game is up and running, users may select their prediction and then enter a VG$ amount they wish to wager - this is a flat-payout system: When the winning option is selected, you will receive 150% of the VG$ that you wagered (ie. Bet $100, and you will receive $150 for a correct prediction). Users have the ability to change their bets (or cancel entirely) at anytime, up until the game is closed. Users will receive a notification if, for whatever reason, the OP (or a moderator) has changed any of the parameters of the game - allowing users the opportunity to change their bets, if something has been significantly altered.

SiteAdmin and HeadMods are 100% in control of these games, to prevent any cheating or abuse of the system!!!

These admins have the ability to close a game at anytime (whether at the request of the OP for an open-ended game, or if they feel something shady is going on). Furthermore, only these admins have the ability to award the payouts. Once a game has closed, the OP should notify one of these administrators as to what the winning prediction is, and they will go ahead and process the payouts - winners will receive a notification as to how much they've won.

If, at any time, a game is canceled and removed from a thread - all users will receive a refund of their VG$. Obviously, you can't modify or remove a game that has already been paid out.

As I stated at the top - this is Version 1! I fully expect to see suggestions as to what you all like or dislike or requests for enhanced options...    ...and this will be the thread, to make those feelings known! 

Edit: I've started everyone off with what I believe to be, a fairly easy game! If you've read even just a few of my posts over the years, it should be fairly easy to get the right answer here... 

Last edited by TalonMan - on 04 May 2019

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Yup! Should make for a fun little topic!



                                                                                                                                            

The most common use for this that springs to mind is the Metacritic/OpenCritic prediction threads that we often have on the site.

For example:

'Predict Borderlands 3's Metascore one week after launch'.

And then the creator of the thread sets the options like they would a poll, but now people can bet their VG$ on their guess being right.



We were literally just talking about a TalonMan appreciation thread earlier (and on a thread about bringing in more activity to the site, nonetheless), and the guy comes up with this! You're really priceless, dude, I don't know where we'd be without you. This is one of those features no one ever knew they wanted... it'll be a godsend for a number of prediction-heavy threads, such as the ones Machina listed, but also many more.

Great work.



Great idea. I like all the recent updates. They keep the site fresh.



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Machina said:
The most common use for this that springs to mind is the Metacritic/OpenCritic prediction threads that we often have on the site.

For example:

'Predict Borderlands 3's Metascore one week after launch'.

And then the creator of the thread sets the options like they would a poll, but now people can bet their VG$ on their guess being right.

I see another use for it: the bold prediction threads could now come with options for other users. Like will Breath of the Wild sell more than Mario Odyssey. Or a thread asking how much the PS5 will sell in the first full year. The option would cover good intervals for that. We had threads asking this stuff, now can people bet VG$ on their predictions.



3DS-FC: 4511-1768-7903 (Mii-Name: Mnementh), Nintendo-Network-ID: Mnementh, Switch: SW-7706-3819-9381 (Mnementh)

my greatest games: 2017, 2018

Predictions: Switch / Switch vs. XB1 in the US / Three Houses first quarter

This is a great idea!



That's pretty damn neat for predictions, so people can put their (VG)money where their mouth is. =p

May I suggest a feature to compliment this one?
I think it would be cool if in our profiles we could see category breakdowns of where our wins and losses go.
For example:

- Official Sales Prediction Threads: -$46.000
- Official Metascore Prediction Threads: +$3000

That way you and other members can see how good (or bad) people are at predicting things.

Last edited by Hiku - on 05 May 2019

Aswell as an option to see which thread has a bet active?

Edit: yes not as rigged as i assumed good to implement that 1000 max

Last edited by kirby007 - on 05 May 2019

 "I think people should define the word crap" - Kirby007

Join the Prediction League http://www.vgchartz.com/predictions

@TalonMan: Small bug here. If I choose the date, the date picker is displayed below the footer:

I have Firefox 66.0.3 (64-Bit) on Linux and use the Blue theme.



3DS-FC: 4511-1768-7903 (Mii-Name: Mnementh), Nintendo-Network-ID: Mnementh, Switch: SW-7706-3819-9381 (Mnementh)

my greatest games: 2017, 2018

Predictions: Switch / Switch vs. XB1 in the US / Three Houses first quarter