Board 8 > ~Character Battle X Spread Betting~ (Sugesstions/Interest guage)

(+) Yeah! (+)

I'm bringing it back! Unless someone else was already planning to in which case I will back off. Anyway this was one of my favorite games back in the day and I always wanted to run it, and since I haven't seen it the last few contests I decided to take matters into my own hands.

You can signup now or anytime during the contest. Regardless, you will be given $1000 to bet on matches as you see fit. If at any time you fall below $1000, you can bet up to $1000 but beware you can enter the negatives. The user with the most money at the end will be crowned the winner and receive a game of their choice (within reason) courtesy of your host (unless I win, then the prize will go to the runner-up).

Basically this works like sports betting with spreads, if you're familiar with that. Here's an example line:

Dante (-40) vs Cuphead

If you bet on Dante, he would have to beat Cuphead by 40%, meaning he'd have to get at least 70% of the vote (70-30 = 40). If you bet on Cuphead (+40) he needs to score at least 30.01% of the vote (69.99 - 30.01 = 39.98) to keep the difference in percentage, or spread, within 40.

So someone with $1000 bets $500 on Dante

Dante 73.12%
Cuphead 26.88%

Dante covers! The bet is doubled and returned for a profit of $500 and the player is now at $1500

ALTERNATE UNIVERSE

Dante 63.1%
Cuphead 36.9%

Cuphead covers! All Dante bets are lost and said player is now at $500. Even though Dante won, he didn't win by enough.

New for this contest is 4-match days, so I want to introduce a parlay! For those unfamiliar, you can earn more by combining your bets, but if one is wrong you lose the whole thing. So let's say

Dante (-40) vs Cuphead
Chloe (+20) vs Lightning

If you bet $100 on each of these and win, you double both bets for a total of $400 (for a profit of $200) however if you parlay and both win you will get x3.5. So you win $350 minus the original bet of $100 for a profit of $250. However, if either match is wrong you lose the entire bet. 3 and 4 match parlays will give higher payouts, but you risk losing it all if any match in the parlay is wrong.

You can choose any combination of parlays and single bets you want. I'm open to suggestions about this.

I will use all sources available to set the lines (x-stats, oracle, crew analysis, etc.) but if anyone wants to help with that I'd appreciate it!

I think that's about it but if I forgot anything feel free to ask or chime in. Hope we can get a lot of participants!
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I think I got second in this once? not good enough, gotta win.

i'm in
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The interest gauge seems to be rather low!
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i'll probably play until i get impossibly far behind somewhere in round 1 like usual
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Xuxon posted...

i'll probably play until i get impossibly far behind somewhere in round 1 like usual

I think I remember you doing very well one year!
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Expressing interest.
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I would play when i remember to
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Just realized I spelt gauge wrong in the topic title
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I may play
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I would play.
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I'm keen.
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in

I won this once, can't remember which contest it was.

Was a lot of fun so yeah, i'm in.
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I'm in. Good work with the shameless plug.
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Im in.
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I'm in. Spreads are going to be really tricky to set in Round 1 since we haven't had a 1 v 1 contest in 8 years.
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Sure, I'll try to participate when I can remember.
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swirIdude posted...

I'm in. Spreads are going to be really tricky to set in Round 1 since we haven't had a 1 v 1 contest in 8 years.

Yeah, and we have a good amount of newcomers and the whole registered users count double thing. It's going to be wild!
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I'm in it to win it!
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Parlays are a great thing. Definitely in !
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in
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I'm In.

Prize is too great to pass up.
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in

Here's what I have for the parlay, based on a $100 bet

Single Match bet: Even Money - $100 bet wins $100 (Total payout: $200)
2-Match Parlay: 13 to 5 odds (2.6 to 1) - $100 bet wins $260 (Total payout: $360)
3-Match Parlay: 6.5 to 1 odds - $100 bet wins $650 (Total Payout: $750)
4-Match Parlay: 13 to 1 odds - $100 bet win $1300 (Total Payout: $1400)

These are typical odds used in Vegas sports books. If you have any question, comments, or concerns feel free to ask!
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I like those odds
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why put juice on the parlays but not a single match?
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Oh right good call, I didn't actually consider the juice. So without that the odds would be

3 to 1
7 to 1
15 to 1

I think? I actually put 3 to 1 odds in the opening post so I guess I was thinking about it then!
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wait what was wrong with the 1st one?
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MZero11 posted...

Oh right good call, I didn't actually consider the juice. So without that the odds would be

3 to 1
7 to 1
15 to 1

I think? I actually put 3 to 1 odds in the opening post so I guess I was thinking about it then!

so is it..

2 matches - bet 100, win 400 (300+100)
3 matches - bet 100, win 800 (700+100)
4 matches - bet 100, win 1600 (1500+100)
?

Those are the total payouts. You win $300, $700, or $1500. For example if you have $1000 and bet $100 on a 3-match parlay and win, you'll then have $1700. At least that's the way I believe it works.

/interested

i'll play day 1 then forget to get my day 2 picks in and give up

GTM posted...

wait what was wrong with the 1st one?

The first one is based on 'juice', which is when the sportsbook people take some of your money like a fee. It's typically around 10% I think so like if you bet $100 you actually only win like $90 in profit (total payout: $190 instead of $200)

Since I'm not applying juice to the single bets, there's no reason to apply it to the parlays (also I'm not making any money from this so it's pointless overall). That's what Xuxon was asking.

So if you remove juice, the parlay odds are actually like the second set I posted

firefdr posted...

so is it..

2 matches - bet 100, win 400 (300+100)
3 matches - bet 100, win 800 (700+100)
4 matches - bet 100, win 1600 (1500+100)
?

Technically yes. If you start at $1000 and bet $100 you're technically at $900 until the match is over. Your total payout would be $400, putting you at $1300 ($300 profit) for a 2-match parlay
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Parlays are not required and you can do any combination you want, by the way

4 single bets
2 two-match parlays
1 two-match parlay and two single bets
A 3-match parlay and a single bet
A 4-match parlay

Of course, you're also free to abstain from any matches as well
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it would be interesting if we could bet on the money line as well

up

tennisboy213 posted...

it would be interesting if we could bet on the money line as well

I might consider adding that for the legends bracket, when we don't have 4 matches a day anymore and the matches are more debatable.
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Bumpo
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bump2
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maybe just make it available if the match is debatable, using the board odds project to help get an idea of the odds

sorry, don't want to put a larger workload on you but I thought it'd be a fun new idea

definitely in
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up

First topic will go up tomorrow!
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https://gamefaqs.gamespot.com/boards/8-gamefaqs-contests/77106202
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