Originally Posted by kartveteran
I think this is a very cool idea. I allways wondered if I'd have a chance to beat the odds at the William Hill bookmaker for tennis, if I'd pick my matches very selectively. I'd never try that though, since I just don't want to spend money on gambling.
But now I can try it in this forum. Will you make the odds statistically balanced or will you make the odds lower so the odds-maker will usually win money? For example: if two players have 50% to win a match, will the odds be 1/1 and 1/1? Or will you make them 4/5 and 4/5?
I think you should make sure people can only earn cash by winning bets. So, that the cash score reflects how well someone has done in betting. If you can earn money by other ways such as making posts or by getting rep-points, that will spoil the competition. In the end you won't know anymore which scores were earned by good tennis knowledge, and which scores were just earned by making posts.
What about allowing negative cash scores? If someone loses all his money, he's still allowed to bet, but only by 1$ each bet. That way if he's lucky he can work his way up again until he has enough money for bigger bets again, and if he's unlucky, his cash score will just become more negative. But he'll still have the option to keep on betting.
I'm glad you the like the concept.
Odds are compiled based on real market offerings so there will be those evil over-rounds. For example: an even money shot (2.00) will be competing with a favourite priced at around 9/10 (1.90). It makes the game more realistic though - you'll have an idea how you might be doing in the real world losing real money.
We wont be offering bonus vCash for reputation points as that system is being openly abused.
We are planning on offering vCash rewards though if you introduce/invite a friend to MensTennisForums.com/vBetting. This happens in the real world too, so it's not completely unrealistic and it's a rewarding way to invite you friends to join the game.
When an account falls to zero, it will be topped back up to $10 the next time we add a market. So if you see anyone with a vCash balance of $10, you know they're doing as badly as is humanly possibly.
I hope that answers all your questions.