Third Annual BF betleH Tournament

Third Annual BF betleH Tournament (http://www.betleh.com/cgi-bin/b3/YaBB.pl)

Ferengi Guild of Bookies and Oddsmakers >> Thena's Gambling Parlor >> README
(Message started by: K`Hare totlh on Feb 19^th, 2005, 4:03pm)

Title: README
Post by K`Hare totlh on Feb 19^th, 2005, 4:03pm

This is a place for betting on the competition with the Ferengi Thena.

XFY might have its own such facilities but Thena is around the tourney taking bets and is not part of the XFY crew.

Title: Re: README
Post by Thena on Feb 19^th, 2005, 4:15pm

Thena here.

Welcome to my parlor!

I'm the official representative of the FGBO for this event.

Best of luck in your wagering!

Many thanks to Ing for letting me borrow his account until I got mine set up. (Translated: I am also Ing in RL, this is my Ferengi character who is only at Xavier OOC.)

Title: Re: README
Post by Thena on Feb 21^st, 2005, 11:51pm

The Rules:

All bets will be made in slips of latinum (conversion to strips, bars, and bricks will be avoided for ease of computation). Everyone starts with 500 slips.

You can place bets in the appropriate thread for the current round, such threads will be locked when that round ends. You can also place bets by PM'ing me (Thena). For this year, the amounts of all bets placed are public, and posted in the appropriate threads.

10% of any bet placed goes to the house as a betting fee ("the juice").

Bets on a match pay match odds. So if fighters A is favored over fighter B by 3:1 odds, a bet placed on A pays 1 slip for every 3 slips bet, and a bet placed on B pays 3 slips for every slip bet.

So placing 100 slips on A would mean that if A wins, you get 120 slips back. (100 slips - 10 slip fee is 90 slips wagered, 1/3 of 90 is 30, so you get 90 + 30 = 120 slips). Placing 100 slips on B means that if B wins, you get 360 slips back. (100 slips - 10 slip fee = 90 slips, 3*90 = 270, so you get 90 + 270 = 360 slips back).

You can bet on a given match, you can bet on a given fighter to win the entire tournament, or you can bet on a future match.

Any bet placed will be given the odds posted at the time the bet was placed. If odds change, it will be noted and will only affect bets placed after the odds change is posted. Note that odds are only available until the results are sent out for a given round, the odds for tournament champion and future match bets will change as the fighters advance.

Future match betting:
You can bet on matches in future rounds. Note that these bets are placed both on the listed matchup happening, and the given fighter winning - if one of the fighters fails to advance to that round, you lose the bet.

Judges and members of the FGBO may not place bets. Fighters may not bet on their own matches, nor for themselves to win the tournament.

All fractional amounts of latinum slips shall be rounded in favor of the house to the nearest whole slip. So, for example, if you bet 22 slips on a fighter, the fee is 3 slips.

(As a footnote, I didn't make up the "juice" part of it - that's what actual Vegas bookies use, although the amount may differ from the 10% used here.)