HOW TO: We now have virtual betting between members

[Deleted member 1]

Currently the link is here:
Betting Exchange | TMMAC - The MMA Community Forum

To be clear, I am rolling this out on my day off for speed without as much testing as I'd like. There is a chance I might have to change things around. That means I might decide to reset everyone's cash to start over or something like that. If I need to do that, it will be this month. But just know that right now.


Cash:

• You get $10,000 virtual dollars.
• You can bet anywhere between $5-$2000 per bet.
• This is a straight up 1:1 bet system for now. You set an outcome and how much you want to bet.
• You can accept a bet, then change your mind if you want to withdraw before the bet is closed. If you withdraw from a bet after accepting, you will be penalized 25% of the bet and that money will go to the other person
• We will probably run something like a yearly season, so don't spend it all in one place!
• If you lose all your money, you will get an automatic $500 to play with. You can only get this every 15 days. So if you keep going broke, you will miss MMA events to bet on

Betting:

• Bet by clicking the CREATE BET button in the top right when looking at the Betting Exchange page
• You can create a bet on ANYTHING (Fedor will KO Mitrione before round three, Trump will be president in 2023, etc.)
• You can select a user to challenge or you can leave it open for anyone to accept
• When creating the bet, you can set when the betting will close. You should make this BEFORE the event.
• Once the event takes place, both users must agree on the outcome for the bet to be settled. If you both agree, the bet is paid out. If you disagree, we the admins can play bookie and settle the bet after reviewing. If you both select PUSH, you have both agreed to just disregard the bet due to a tie or something like that, and you get your money back.

Some Examples:

Here is the list of some test bets we made. As you can see, the entire exchange will show all of the bets. There are tabs help you see upcoming and recent bets. You can also see a status of the various bets.

When you click on a bet, you will see the details with one user on the left and the challenger on the right. You will see more details on when the bet will close.

You can also comment on the bet and talk shit to each other about how bad the bet is.

When you win, lose, draw, or get challenged, you will get an alert letting you know.

Something like this:

So there you have it. Try it out, let's see how it goes and I will tweak things as we need to.

 

[Zeph]

playing bookie as admins is will take a lot of work if takes off. better to limit it to sports events and automate a check for the results from a reputable source, like sherdog fight finder for mma.

 

[Deleted member 1]

playing bookie as admins is will take a lot of work if takes off. better to limit it to sports events and automate a check for the results from a reputable source, like sherdog fight finder for mma.

This is actually what is stopping me from creating an entire MMA Virtual Football type system. I could get way more complex here, but the overhead is insane.


In this case we have set up, its member vs member. If the two agree, the system is automatic.

If we see a constant arguing of outcomes from members we'll adjust as needed. If certain members abuse the process for their own virtual cash gain (always say they won when obvious they didn't) I will simply remove their ability to play

 

[Priziesthorse]

Let me bet all 10k. Don't tread on me brah.

 

[Deleted member 1]

Let me bet all 10k. Don't tread on me brah.

lol
If this is what people want, I'm happy to adjust those numbers.
The goal was to help create a season so there is action all year.

 

[Lukewarm Carl]

lol
If this is what people want, I'm happy to adjust those numbers.
The goal was to help create a season so there is action all year.

How about make it to where if you spend all your loot then you can buy back in before the year is over with a small donation to the site or even a donation to a charity?

 

[Deleted member 1]

How about make it to where if you spend all your loot then you can buy back end before the year is over with a small donation to the site or even a donation to a charity?

I can make it where if you hit zero, it will give you a small amount automatically.


Maybe they hit zero and get 500 bucks to play with?

 

[Deleted member 1]

Actually, I kind of like that

Alright I've set it so that if you hit zero, you get $500 to play with. You can only do that once every 15 days. So you will miss events most likely if that happens to often. Don't go to zero! Win!

 

[Report]

playing bookie as admins is will take a lot of work if takes off. better to limit it to sports events and automate a check for the results from a reputable source, like sherdog fight finder for mma.

if people are responsible...mods wont have to do anything. am i being too optimistic

and btw Split...this is genius. well done. lets test this out and then attract the hordes! regulatooooooors. MOUNT UP!

 

[Ghost Bro]

I don't understand.

Do we basically just make anything up then?

 

[Priziesthorse]

lol
If this is what people want, I'm happy to adjust those numbers.
The goal was to help create a season so there is action all year.

You gotta let me leave the nest and allow me the freedom to make terrible mistakes with virtual money.

 

[Deleted member 1]

Let me bet all 10k. Don't tread on me brah.

Just increased max to 2000 bucks.

 

[Report]

I can make it where if you hit zero, it will give you a small amount automatically.


Maybe they hit zero and get 500 bucks to play with?

i think thats fine. i also like wills idea of it being free. but if u want to buy back in another 10k, u donate to the site

 

[Deleted member 1]

I don't understand.

Do we basically just make anything up then?

XXXX will beat YYYY

$500 bucks

Can then choose a member to challenge or just leave it open for any other member to accept the bet

 

[Priziesthorse]

Let's replicate the human condition. When you go virtual cash broke, ya gotta start sucking virtual dick.

 

[Deleted member 1]

i think thats fine. i also like wills idea of it being free. but if u want to buy back in another 10k, u donate to the site

I think that is a cool idea, but if the system is not abused, I also think giving out prizes to the highest winners is cool too.
So I need to sleep on the idea that someone could actually purchase a win in some manner.

 

[Lukewarm Carl]

XXXX will beat YYYY

$500 bucks

Can then choose a member to challenge of just leave it open for any other member to accept the bet

Can you set a limit to how many people can accept your bet? Maybe I want to bet that GSP will beat Bisping for the 185 title and am willing to bet 4 people at $500 a pop... Would I have to create individual bets or can I just leave it open for a max of 4 participants?

 

[Ghost Bro]

XXXX will beat YYYY

$500 bucks

Can then choose a member to challenge of just leave it open for any other member to accept the bet

But can it be specific like "KO" or "submit"? or...i dunno "Hendricks is gonna gas on second round" etc etc?

Could be fun

 

[Hauler]

This sounds awesome...

 

[Zeph]

if people are responsible...mods wont have to do anything. am i being too optimistic

and btw Split...this is genius. well done. lets test this out and then attract the hordes! regulatooooooors. MOUNT UP!

In my mind if something can be abused, it will be eventually. It's also about scale, involving humans doesn't scale as efficiently.

 

[Deleted member 1]

Can you set a limit to how many people can accept your bet? Maybe I want to bet that GSP will beat Bisping for the 185 title and am willing to bet 4 people at $500 a pop... Would I have to create individual bets or can I just leave it open for a max of 4 participants?

Currently have to create 4 bets, sorry!

 

[Lukewarm Carl]

I think that is a cool idea, but if the system is not abused, I also think giving out prizes to the highest winners is cool too.
So I need to sleep on the idea that someone could actually purchase a win in some manner.

You could do the prizes based on win/loss record as the season champ and maybe a secondary prize for most winnings.

 

[Deleted member 1]

But can it be specific like "KO" or "submit"? or...i dunno "Hendricks is gonna gas on second round" etc etc?

Could be fun

Yes, go see the betting exchange right now. We have those types

 

[Lukewarm Carl]

But can it be specific like "KO" or "submit"? or...i dunno "Hendricks is gonna gas on second round" etc etc?

Could be fun

Big Rigg gassing is a bit subjective so that could be tricky to enforce but it seems like it's open to anything that two people can agree upon.

 

[Priziesthorse]

So I need to sleep on the idea that someone could actually purchase a win in some manner.

When I win, I'd like you to write me a prescription for mdma.