| TalonMan said: I'll have to think on this a bit, and figure out the best way to implement - there's no reason the person creating the game, couldn't be given the choice of either having a "fixed" pay-out, or a "weighted" one. I just need to think a bit, on the logic... |
Hi @TalonMan
Thank you for this and many other features. This feature seems like something that can potentially become really popular. I know it has been around for a while, but i think that with more frequency this could become very popular.
I have bet a fair amount in my life, and this scenario reminds me of betting in horses or Jai Alai. Maybe this is something that has been discussed before, but in case it hasn't I want to share my idea.
In simple terms, everything people bet goes into a pool, then the winning answer gets all the winnings divided by all the people that chose this answer.
This way there is much more reward for making bold predictions.
For example: This is one of the current bets. lets say that 15-17.5M ends up winning. The way to calculate the return is to take the total, divide it by How much was bet on the winning answer (1) and multiply that by how much each person bet on the winning answer. (2)
1)$11,681.02 / $5,931.00 = 1.97
2) My bet(100)*1.97 = $197 VC$
In this case, the person who placed the $5 bet on 5-7.5M could potentially win $11,681.02 if they are right.
Like I mentioned, this could lead to more people trying to make bold predictions and therefore making it a little more interesting. It also opens up the possibility for people to bet lower amounts because their earnings are pretty much dependant on others, For example, in this case I would be discouraged from betting 100,000 (I know the max is 1,000 but this is just an example), because if I win, basically I would have to split the winnings with everyone that placed the same bet that I did and probably would pretty low returns (earn 5%), so It would be risking too much for too little.
Anyways, thanks again for more than a decade of great content and hard work.
