Want to place a wager on that opinion?

Tombstone · 08-19-2005, 07:05 PM

Hi Everyone,

Here is another addition that some of you may really like. (Especially Valerie with Football Season coming up?!) This is long - but worth reading.

vBookie is a 'bookmakers' or betting extension for ForumGarden. It enables authorized members to post Events and Outcomes that forum members can bet on.

Each Outcome has its own set of odds, and odds can be modified through the life of an Event (bets that are placed are stored with the prevailing odds, so even if the odds change, your users are paid at the correct rate).

Once the results are known, Events can be settled and forums members awarded their winnings.

About Odds

Odds of "5/1" are "amount won per amount placed". This means that I would win 5 for every 1 placed. Of course, if I win, I get my stake back as well. Odds of "1/5" means that I win 1 for every 5 placed. I'd have to place 25 to win just 5.

Decimal Odds

Decimal odds are just another way of displaying the same information. 2.0 is the same as 2/1. 0.2 is the same as 1/5. vBookie only lets you specify odds in terms of x/y, but if you think in terms of decimal you can still work out what odds to provide. Simply think of your decimal odds as "2.0 / 1.0" or "0.5 / 1.0" and then multiply each side through by 10 or 100 until there are only zeros to the right of the decimal point, then just take the whole number part.

2.0 / 1.0 has no decimals, so this is the same as 2/1

0.5 / 1.0 has a 0.5, so multiply both parts by 10 to get 5.0 / 10.0. Then you can specify your odds as 5 / 10. You might also realize that this is the same as 1/2. The technique is a simple way to work out any odds you may need to specify.

Odds of 0.65 -> 0.65 / 1.0 -> 65.0 / 100.0 or 65/100. Then you can divide through by 5 to get to 13 / 20, although this step isn't necessary.

We've also included the "Give to the Poor" option:

Use this to specify whether you want vBookie to make a charitable donation to your poorest members whenever there's a new Event to bet on. This means that whenever a new Event is added, anyone with less than 25 vCash (or uCash) is re-set to 25, so that people always have something to play with. By default this is off, so when the money runs out, that's it!

By default no groups or forums are set to allow the addition of a vBookie event. Since the potential for abuse is high (especially when we upgrade FG further and integrate in some additional fun modules), we have restricted the adding of new events / bets to Administrators and Supporting Members.

All registered members, however, have full betting rights.

You may create an event by going directly to the vBookie link in the Navbar above, or click on the vbookie button when creating a new thread.

We hope you enjoy!

JAB · 08-19-2005, 07:09 PM

Ah, so that's what the vCash: 500 under my post count is!! We were chatting about it in the Pub - now it makes sense.

But I'll have to read these rules again to really understand it...!

JAB · 08-19-2005, 07:10 PM

Quote:

Originally Posted by JAB

vCash: 500 under my post count is!!

Well, it was there at one time...

chonsigirl · 08-19-2005, 07:17 PM

A way to make us use math! As a teacher, I approve!

Tombstone · 08-19-2005, 07:20 PM

Quote:

Originally Posted by chonsigirl

A way to make us use math! As a teacher, I approve!

ForumGarden: Advocates of math teachers across the globe!

chonsigirl · 08-19-2005, 07:24 PM

Will it be up for my favorite season, basketball too?

Tombstone · 08-19-2005, 09:59 PM

Quote:

Originally Posted by chonsigirl

Will it be up for my favorite season, basketball too?

You bet! (Pardon the pun.)

BabyRider · 08-19-2005, 10:06 PM

This sounds FUN, Tombstone!! Any chance it'll be up for the World Series??

Tombstone · 08-19-2005, 10:09 PM

Quote:

Originally Posted by BabyRider

This sounds FUN, Tombstone!! Any chance it'll be up for the World Series??

Unless ForumGarden blows up, this is a permanent fixture!

Tombstone · 08-19-2005, 10:57 PM

Oh! Did I mention that everyone has $500 (funny money) bucks to start with?

08-19-2005, 07:05 PM	#1 (permalink)
Tombstone Little did I know... Supporting Member Join Date: Aug 2004 Location: Idaho Panhandle Posts: 3,496	Want to place a wager on that opinion? Hi Everyone, Here is another addition that some of you may really like. (Especially Valerie with Football Season coming up?!) This is long - but worth reading. vBookie is a 'bookmakers' or betting extension for ForumGarden. It enables authorized members to post Events and Outcomes that forum members can bet on. Each Outcome has its own set of odds, and odds can be modified through the life of an Event (bets that are placed are stored with the prevailing odds, so even if the odds change, your users are paid at the correct rate). Once the results are known, Events can be settled and forums members awarded their winnings. About Odds Odds of "5/1" are "amount won per amount placed". This means that I would win 5 for every 1 placed. Of course, if I win, I get my stake back as well. Odds of "1/5" means that I win 1 for every 5 placed. I'd have to place 25 to win just 5. Decimal Odds Decimal odds are just another way of displaying the same information. 2.0 is the same as 2/1. 0.2 is the same as 1/5. vBookie only lets you specify odds in terms of x/y, but if you think in terms of decimal you can still work out what odds to provide. Simply think of your decimal odds as "2.0 / 1.0" or "0.5 / 1.0" and then multiply each side through by 10 or 100 until there are only zeros to the right of the decimal point, then just take the whole number part. 2.0 / 1.0 has no decimals, so this is the same as 2/1 0.5 / 1.0 has a 0.5, so multiply both parts by 10 to get 5.0 / 10.0. Then you can specify your odds as 5 / 10. You might also realize that this is the same as 1/2. The technique is a simple way to work out any odds you may need to specify. Odds of 0.65 -> 0.65 / 1.0 -> 65.0 / 100.0 or 65/100. Then you can divide through by 5 to get to 13 / 20, although this step isn't necessary. We've also included the "Give to the Poor" option: Use this to specify whether you want vBookie to make a charitable donation to your poorest members whenever there's a new Event to bet on. This means that whenever a new Event is added, anyone with less than 25 vCash (or uCash) is re-set to 25, so that people always have something to play with. By default this is off, so when the money runs out, that's it! By default no groups or forums are set to allow the addition of a vBookie event. Since the potential for abuse is high (especially when we upgrade FG further and integrate in some additional fun modules), we have restricted the adding of new events / bets to Administrators and Supporting Members. All registered members, however, have full betting rights. You may create an event by going directly to the vBookie link in the Navbar above, or click on the vbookie button when creating a new thread. We hope you enjoy! __________________ where are we going? why am i in this handbasket?
Local Time: 01:29 AM Local Date: 11-21-2008

08-19-2005, 07:09 PM	#2 (permalink)
JAB Just me! Supporting Member Join Date: Feb 2005 Location: Right here Posts: 5,068	Re: Want to place a wager on that opinion? Ah, so that's what the vCash: 500 under my post count is!! We were chatting about it in the Pub - now it makes sense. But I'll have to read these rules again to really understand it...! __________________ Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind. ~Dr. Seuss
Local Time: 04:29 AM Local Date: 11-21-2008

08-19-2005, 07:17 PM	#4 (permalink)
chonsigirl I think, therefore I post Supporting Member Join Date: Mar 2005 Location: Nirvana Posts: 28,502	Re: Want to place a wager on that opinion? A way to make us use math! As a teacher, I approve!
Local Time: 04:29 AM Local Date: 11-21-2008

08-19-2005, 07:24 PM	#6 (permalink)
chonsigirl I think, therefore I post Supporting Member Join Date: Mar 2005 Location: Nirvana Posts: 28,502	Re: Want to place a wager on that opinion? Will it be up for my favorite season, basketball too?
Local Time: 04:29 AM Local Date: 11-21-2008

08-19-2005, 10:06 PM	#8 (permalink)
BabyRider Missin and LOVIN Bullet Join Date: Jan 2005 Location: My own private Hell Posts: 10,069	Re: Want to place a wager on that opinion? This sounds FUN, Tombstone!! Any chance it'll be up for the World Series?? __________________ I hope you cherish this sweet way of life, and I hope you know that it comes with a price. ~Darrel Worley~ Bullet's trial was a farce. Can I get an AMEN????? We won't be punished for our sins, but BY them.
Local Time: 04:29 AM Local Date: 11-21-2008

08-19-2005, 10:57 PM	#10 (permalink)
Tombstone Little did I know... Supporting Member Join Date: Aug 2004 Location: Idaho Panhandle Posts: 3,496	Re: Want to place a wager on that opinion? Oh! Did I mention that everyone has $500 (funny money) bucks to start with? __________________ where are we going? why am i in this handbasket?
Local Time: 01:29 AM Local Date: 11-21-2008

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