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Betting

A lot of people are asking about the mechanics of the betting system, so I will go into a bit more detail here.

Before I start I would like to say that I have done a lot of research on real world betting mechanisms before creating this. The biggest difference between a perfect real world bookie and this system is that the bet odds for viewers change even after they place the bet. This is not fair to the betters but is the only way to perfectly square the bets between all the options. Some key points:

  • The main objective of the betting system in DeepBot is to keep adjusting payout odds based on bets coming in. So the payout will reflect how loaded a certain option is.
  • At no point in time would an option payout more points that entered in the betting pool (i.e. the house does not issue new points).
  • The odds change real time for all bets (future and past).
  • A user can remove his bet by typing !bets 0 <option> for the same option they originally entered for.
  • If a user enters a bet on a different option, it is recorded as a new bet on that option (old bet is still vaild). Yes - this supports multi-betting per user.
  • You can set a Minimum and Max bet.

The reason for allowing multi-betting is that any Bookie/Gambling agency that can very easily square the bets between the options (we can do this perfectly) loves gambling chasers who chase the win with multiple bets. This is because the odds are always fair and with house cuts, the house gets a cut on every bet. Do note this option can now be disabled to only allow single betting.


Commands


User Commands:

  • !bets [x] [y] : When betting pools are open, it enters your bet of [x] points on option [y] (e.g. !bets 100 2).
  • !betting help : Command to show users status of current betting pool.

Mod/Streamer Commands:

  • !betting start <maxbets> <housecut> <betting_on> <option1> <option2> : Starts betting. (e.g. !betting start 100 0 This_is_a_test_bet yes no maybe ) [Use _ for space in text]
  • !betting close : Closes betting.
  • !betting cancel : Cancels betting
  • !betting winoption [x] : Selects the winning option, where [x] is the winning option. (e.g. !betting winoption 2)
betting.txt · Last modified: 2016/05/17 18:22 by repentgamingtv