Bitcoin Forum

The land of Bitcointalk is highly resourceful but at large, undefended. The masses have been peaceful and respectful of one another, making day to day life a breeze. The times however are changing. The breeze is slowly turning into tempestuous bother. How long can the unconquered land go without a leader? Not long I say,  The land yearns for a ruler that can once and for all claim the land, Guide us towards glory and etch himself in history books as "the Maharaja of Bitcointalk".

Do you have what it takes to earn the title? Are you ready to go on a month long grueling battle against other hopefuls to claim the prestigious title?
 
If the answer is yes! Then register here (https://forms.gle/sJkA6c6rLw9LqjH28). May the Gambling gods be with you.



Instructions:
- Tournament is free to enter. (min Jr. Member account)
- You are allowed to bet with any sportsbook you like and switch them anytime you want. However, your starting stack will remain unchanged for the duration of the tournament.
- Register into the tournament (https://forms.gle/sJkA6c6rLw9LqjH28) and list your bankroll as well as crypto you will be using through the competition.
- Only pre-match bets allowed for the competition.
- Once the bet is made, take screenshot(make sure your bet ID and bet amount is visible, or your bet will be declared invalid) of the bet and post it on Competition's thread (https://bitcointalk.org/index.php?topic=5323922).
- Bets that are posted after commencement of the respective matches, will not be counted.
- Keep in mind that if you run out of your bankroll, you are out of the tournament. So, choose your bankroll wisely. (will work on free re-entry for first week of the competition or add fees to re-enter later)
- The top 3 ROI's by the end of the month, win prizes.
- Looking for min. 20 participants for the prize pool to be $600(in either BTC, ETH or EOS)
   1st Prize - $300
   2nd Prize - $150
   3rd Prize - $50
   Bonus Prize - $100

Rules:

- Minimum 20 bets to qualify for the prize and the title.
- Please make sure the events that you bet have official pages (for results) and start time and odds of the matches are easily verifiable.
- If you choose  Sportbet.one (https://sportbet.one/?utm_source=bitcointalk&utm_medium=maharaja&utm_term=Maharaja&utm_content=Maharaja&utm_campaign=Maharaja) as your betting partner for at least 10 bets, your name will be added to the bonus prize pool.
- For sake of competitive spirit, you are allowed to bet as much of your bankroll you like but,a max cap of 5% of your Starting bankroll will be counted towards your ROI.
   ex, Starting Bankroll 100mBTC, you've bet 10mBTC at 2x odds and won the bet. While calculating the ROI, I will be calculating it as +5%. In case of loss, it would be -10% (bet considered as it is).
- In case a user makes same bet multiple times but with varied odds(or same odds), only the first bet posted will be counted.
   ex, 1st bet - Tottenham Hotspurs to win vs Burnley - 1.6x
        2nd bet - Tottenham Hotspurs to win vs Burnley - 2x
   In this case, only the first bet will be counted.
- Once you've chosen the crypto you will be using, you are not allowed to change.


Additional Notes:

- Strictly one account per user. Any user making multiple entries using their alts will be banned from the competition and any future events hosted by me.
- Rules may be subjected to change. I will notify all participants if there's any.
- Players caught cheating will be disqualified
- In an unlikely circumstance that there is a tie for any of the top 3 spots, at the end of the event. There will be a "sudden death" bet. Where the tied contestants get to make 1 bet on any event they like( within 24hrs). The contestant with the a bet win at the highest odds, wins the tie.  Note that the person betting 2nd, cannot bet on the same event.
- Tournament starts at 0:00 GMT 15th March.
- Ends at 12th April GMT.

Feel free to ask any questions or doubts you have regarding the tournament. I'd be happy to respond to your queries.

- Thread for posting screenshots of your bets (https://bitcointalk.org/index.php?topic=5323922)( only pre match bets that are posted before the match commences)
 
- For discussing strategy and matches for betting. (https://bitcointalk.org/index.php?topic=5321639)

- Contestants stats (https://docs.google.com/spreadsheets/d/1CdsuiZqZZaL-iCwc5M5lfwCVH3kS4eCEKlGIyvdDvaE/edit?usp=sharing)

Why not just say the king of bitcointalk,also a thread in gambling disscusion would be good as well so people can see it

Also when will we be able to see what are the rewards?

Also can our bankroll be in usd?

Thanks for the invitation, I guess I'm interested with this one.

I hope you'll be able to determine the total prizes of this competition as soon as possible so it's easy to decide whether to participate or not, this is not only for me but for those who are really interested and we know that the prize is always the main attraction.  :)

Since it is a tourney for the crypto community, I would appreciate if you could choose a crypto sportsbook.I have tried my best to make the tournament as convenient to the crypto community as possible. Will get to see rewards on the day tournament starts. Register if you are at all interested, The more registrations, the bigger will be the prizepool.  I will post a discussion thread in a bit so people can discuss the games to bet on and strategy how to efficiently bet. I was initially thinking of making it on the day the tournament starts but I suppose the tourney will get better exposure if I post the thread there early. Effectively, Maharaja translates to "the Great King". I personally think it describes greatness better than just King and also, a lot of people get to learn a new word  ;D . You could consider it as "King of bitcointalk if you'd like". I'll try to get a custom made banner for the winner. Will change it to "King of Bitcointalk" if you win.


Please do register whenever you can. I will reveal the prize pool on the day the tournament starts. Hope that's alright. More players joining = bigger prize pool.

I just opened my inbox and I received an invitation, I don't know if I could join here but I will try because I've never joined a sports betting competition in the past AFAIR. Anyway, I appreciate the invitation, I will try to do my best to join. Thanks.

This is going to be awesome. Thanks for the message vennali. Can vouch for the guy as I have dealt with him on the forum before.

I tried using your google form to register, and it gave me an error in the profile link field. It says please enter the correct email.

Thanks for the vouch @ajaxmoor! I was informed about the form giving an error. I've fixed it. Nice to see you back on the forum again. I'm sure your followers will be looking forward to see your picks/predictions again. Good luck with the tournament. :)

Looks like a great contest to me. I have registered for the same. :)

Will be using BTC as my preferred coin. Looking forward to see who's the sponsor. ;)

Competition is starting on March 8th but what is the deadline for application?

I received an invitation in PM but I am more busy this month than usual and I am not 100% sure that I can commit but I will try.

Thanks for the invitation! I'm also interested to see the sponsorship and the prizes. You're saying the price depends on the number of participants, but why not give some estimates? For one, is there a minimum number of participants? And if the minimum is, say, 10 people, you could give estimates on the prize and the ranges in quantity of people. Another important question is whether the prize is purely financial and will be paid out directly to a BTC address or perhaps it will be credited to some casino account with (or without a wagering requirement).
Another question I have is regarding the bankroll: am I right in assuming there's no min bet and no min bankroll since what matters is ROI?

Hello Is this contest opened to all bitcointalk members(as long as they are at least junior member) or only to people who received an invitation? Because I haven't received any.

Late reg will be open for at least a week after the tournament commences. If you do plan to bet during this month, might as well register soon on the safe side and see how it goes. Free reg. anyways. :)


Hey Kryptqnick! Thanks for showing interest. You have a valid point. I will update in the OP about the estimate prizes for min. participants. I was going for mystery, but I suppose it came off the wrong way and seemed more unprepared than what I was going for.  :(
The prize will be financial and will be paid out in crypto to the address the winners provide(Mostly, BTC,ETH or EOS). There is no min bet. It completely depends on your bankroll you provide and how much ROI you can make off of your initial bankroll. I hope that answers all your questions. Fell free to ask any more doubts or queries you have regarding the tournament. Could be helpful for others as well.

Hey Saint-loup! It is open for all bitcointalk members. The only requirement is that you should be above jr Member rank. I was inviting people in batches ad I had a lot of office work left to do and was inviting members during my free time. You were genuinely in the next list. Glad you found the competition anyways. Please do join in on the tournament. It will be fun. :)

I'm definately down for this contest, good luck to all of the other participants.  Can I ask is there any max amount of bets you can make in a day.  Meaning can we bet 5% of our stack on a bet (which is in the rules) and make 20 different bets in a day so effectively betting out entire stack in one day?  Basically any max amount of bets we can make or as many as we'd like to try to achieve the highest roi we can?

There is no limits to how many bets you can make in a day. You can bet more than the allotted 5% as well, but for the count, I will consider the bet max at 5% of your current stack. Keep in mind though that only pre match bets, that are posted before the commencement of the match will be counted as valid bets. Meaning, even if you had placed the bet before the match starts but fail to post it on the forum before the match starts, the bet will not be counted your +/- ROI. I can explain why that is, if you'd like to know. Yes, the highest +ROI wins the competition.

My balance is in bitcoin when i deposited,but i cannot change it to look like its in bitcoin.
Instead it looks like its in USD

Also it would be nice if you could change the official name because no body understands the other word while King is on a new level

Thanks for the suggestion. I'll consider it. If you win, I'm willing to get you a custom made sticker with "The king of Bitcointalk" as the title.  :) I'll probably start a poll on what people prefer, before the tournament starts. So, everyone gets an opportunity to express what title they prefer(A true democratic process, haha). Regarding your sportsbook situation. I'll allow it. The idea of the tourney came to mind because, we see a lot of tourneys that are sportsbook specific. I wanted to create one that gives a chance for all our bitcointalk community to take part in the tournament irrespective of what sportsbook you use or how much crypto you can afford to gamble. This competition is for all sports bettors who'd like to keep track of their bets and the ROI they can make in a month while also to showcase their talent in sports picks.Most importantly, to bring the community together and have fun.

For a month, i'll be your accountant haha.. and calculate the ROI you are making, if you keep your bet size to 5%(which is advised by most of the risk management experts as the max one should bet with their bankroll).

PS: @joca97, You have a massive following on bitcointalk, would be great if you can communicate through your channels and let them know about the tourney. More entries the merrier. Would appreciate it.  :)

is it possible to change the sportsbooks provider in the middle of the competition?

Yes, changing sportsbook in the middle of the tournament isn't an issue at all. However, changing crypto isnt allowed. Your starting stack that you've put in, will remain unchanged.

It's been a long while since we had a tipster competition here and I appreciate the invite.

I voted for Maharaja on the poll since it's the initial title but I don't mind king since both of them sounds great.  :D

Thanks for invitation @vennali. Unfortunately these days I am too busy with some projects and do not even get time to make a few necessary posts on the forum. If you know, I am managing few events here like IPL pool, Covid-19 art contest etc, but barely I am having time to manage them.

Anyway, good luck buddy. It's a nice initiative to make a small circle to hang out. Good luck to the participants too.

I have some questions.

Since it's stated that when you ran out of bankroll you cannot participate anymore, I think that is given since you can't bet without a bankroll.  :D

Based on my understanding, we just have to share a screenshot of our bet, if a bet win that's +5%, if it lose that's -5%.. very simple I think.
I would like to ask also what is the minimum odds for a bet to qualify? 

And last but not the least.. can I share my bet as many as possible in a given day?

Did I get it right? if not, please point my mistake.

No Problem mate, if you need any help with those, do let me know. Good luck with your tournaments as well :)

Yes, you have to share screenshot of the bet, before the match starts(important). Regarding not being able to bet if you run out of bankroll, I'm not asking you to bet with everything you've got haha. Create a bankroll for the tournament and try to increase that bankroll by winning bets. The highest increase of bankroll in percentage, wins the tournament.  If you bet over 5% of your current bankroll, I'll consider the bet as 5% of your bankroll. I'll state an example for easier understanding in the following.

Ex:
Your bankroll: 10mBTC
You found a really nice bet in +EV of Lakers to beat Clippers by more than 2 points(LAL -2.5) at 2x. You'd like to bet considerably more than 5% of your bankroll, lets say you bet 2mBTC on it and you won. Your real ROI would be 20% but for the competition, Since the max cap is 5%  of your bankroll. Your ROI would be +0.5%.

The reason why it is designed like this, is because most strategists agree that you should not be with more than 5% of your bankroll for a bet. Good practice is to bet with 1% of your bankroll/per bet. I'd like to bring that culture among the community members so that they get to see a lot more stable and sustainable gambling experience.


Regarding submitting multiple bets on a day. There are no limits. You can post 100 bets a day if you'd like. Just make sure that they are pre-match and have posted the bet on the forum before the match starts.

Thanks for the reply and for the estimates! I think it's a good deal and a potential cool competition since a lot of stuff is left up to participants. I've registered for it today. 20 bets within less than a month is more than I usually do, but I'll try to make them and not forget about those screenshots  ;D
I also have another short question: what's your stance on multi bets? Are they also allowed, or should these only be single pre-match bets? Thanks in advance!

Most of the sportsbooks show in usd sometimes but would be nice if you could allow it because it dosent matter much a bankroll is a bankroll plus its on the cryptosportsbook so shouldnt matter match

I think we had a previous tournament on directbet longtime ago with automatic table from the bets,would be nice if you could get a big sportsbook for sponsorship and get them to make everything

Will see how the tournament numbers go if it goes well i dont mind posting in the thread :)

Yeah, Parlays are allowed. The same rules apply for parlays as well. Just make sure that by the time of posting screenshots, none of the games should have started.

Yes, as long as its a crypto sportsbook, it shouldnt be a problem. About the tournament, Yeah any sportsbook can do this..but it will be a tournament for that sportsbook. You cant have participants using other sportsbooks. I'm trying to do something different and include all participants, irrespective of the sportsbook. Which is hard to coordinate. Hence, I need those screenshots as proof of bets. I wish I could have done this a lot more seamlessly without the hassle of posting screenshots. I don't see any other way though.

I'd really appreciate it if you can post it in your community. I'll do my best to manage the tournament without any hassle. :)

Are cashouts allowed in this tournament? Or do we need to hold the bet till it is either won or lost? I think that when it's all about ROE, Cashout option will be very helpful and can add some extra spiciness to the challenge as only a few people here know about how to effectively use this Cashout thing in their favor. If their odds were 2.1 or more during the game and then, there are just a few minutes remaining, why not just cash it out while also taking a snapshot of the same and send it to you, so you will know the % of.profits that took place in that bet.

What about the odds boost not all bookies have them but can we use them to a certain extent or no?  For example if sportsbook1 offers 1.75 on the favorite to win while sportsbook2 offers 1.7 but with odds boost you'll get 1.75.

Also how's the number of participants looking at the moment, did we reach the minimum ?

That's not an issue. I wont be looking at the games subjectively(. The only things important for me are the odds you get for your bet and the stake you've put(and starting stack). I'll calculate the ROI accordingly. If your sportsbook gives you a bet boost and you want to bet on it. Sure go ahead. It shouldn't be a problem for the competition.

Regarding participation, The numbers are looking okayish. I was expecting bigger turnouts tbh but lets see, still 2 days to go. The tournament will happen whatever be the turnout. The prize pool however, may be effected if the final turnout is too low. So, please do invite anyone who might be interested over the forum. I'd appreciate it. I think competition would be a lot more fun if there are more participants.


All I will be looking at are pre-match bets that are shared via screenshots before the match starts. You can cash out the bet if you are uncertain during the live event. I can't stop you from doing that. You wont be allowed to delete your screenshots though and once posted, the bet will be counted towards your ROI.

I am looking for sponsorship for the pool. I still have not knocked the people I know because of not having much time to spend on the forum. However if you can find a good deal then please let me know.

It's off-topic to discuss here. Feel free to make a post on the pool topic: https://bitcointalk.org/index.php?topic=5321161.0

Cheers,

As long as its pre-match bets and posted on the forum it will be counted right? I just hope I can come close to +25% ROI in a month. I'd be happy with that.

LOL nobody understands Maharaja?  ??? In which country do you live? I don't think it's a matter of language but more a matter of general knowledge, because Maharaja is a word famous all over the world.

I have never heard of the word "Maharaja" actually.

You mean, if I place a bet and send you a screenshot of the same with specific odds but cash it out in between and the game ends in a loss (I mean the game doesn't end in my favor after my cashout), you'll not consider my cashout as something won (ROE in general) and will consider it a loss, am I correct?

---

It's an ancient word used for "Kings" who used to rule during their reigns in India.

Yes that is correct. Whatever you've posted before the match starts, stays as a valid bet and will be counted. Whatever you do during the match, is up to you.

You learn something new everyday. For today, its the word Maharaja (And hopefully something more). Well, you've now learned about the contest as well. Do take part. It is free to register. :)


Yes, that is correct. Good luck. :)

Sure, i'll have a look and post if I find something that might interest you. Feel free to reach me on telegram and maybe we can discuss it. My telegram username is "Vennali".

Thanks for invitation! I'm interested to join, but I have questions before it. Is it there minimal amount for bankroll is required. Or it doesn't matter, it can be $10 or $100 in BTC?
Me too. I've never heard this word before and I had to Google it.

The bankroll doesnt matter. The only thing that matters is what you can do with the bankroll. Start with whatever you are comfortable with and try to do your best. There is no odds restriction either. Regarding the name, you can still vote if you'd like the title to be called "the King of Bitcointalk" :)

Hi it's nice to see this kind of competition, we could see here who's really good at giving tips but anyway this kind of post will this should be in games and rounds or let it stay here to see by many kind of gamblers since they stay more in gambling section rather than games and rounds.

OP Thank you for the invite, and I will most certainly participate, probably only using my daily bets anyway since I place them and participating only requires me to add it here.

But a few questions:
1. Are there any limits to bet frequency? I can imagine a guy who has the time to post 20 bets a day might do so only to ensure he ends the day with ROI, could have an advantage over the guy who will put a handful of bets down a day.

2. Parlays ok too?

3. ROI calculation is not clear. You mentioned that a guy could still bet 10% of his bankroll but if he loses he only loses 5% in the calculations... this feels like a sort of loophole. For instance. I can declare my bankroll of 1 mbtc. And bet 10 times 1 mbtc on odds of 1.05. I might lose 2 or 3 of those, but I can end up with 35% ROI because of the max rules, at a possible sacrifice, of course, but still. Shouldn't ROI be counted on total winnings or losings, but cap the wager to 5% of bankroll to prevent martingaling etc? And cap the winnings to 5% on bankroll? Why penalize the guy who wants to do 10/1 parlays though? Or do I not get the rules correctly? =)

4. So a person can declare ANY bankroll and any currency, and max you win or lose 5% of the day's starting bankroll or initial bankroll per bet in 24-hr period GMT/Forum time?

i just want to help to answer it and i get the answer from his post

->
->

i still not understand about this maybe the OP can answer it but maybe OP can see this thread to take a few rules from it because as i know there is a tipster competition that held a few years ago
with all the rules is very clear and easy to understand
here the link for the thread FREE Tipster Competition - 1 BTC in PRIZES - Registration Closed (https://bitcointalk.org/index.php?topic=1155908.0)


 

The competition is nice, but I think I would not enter here as I believe there's a lot of great sports bettors who will participate. I'll just watch the show who will win, this is a one month event right, I think I'll just enjoy myself watching the shared bets, maybe follow it sometimes, whoever is hot in this competition. I'm checking in and out but no intention to participate, but please allow me to say my Good luck to you all.

voted for "The Maharaja of Bitcointalk" anyway, it's unique and I understand it.  :)

A big thank you to @vennali for the invitation. I have read the rules but still need to do some more reviewing which I would do later. I would work on getting my bankroll ready for the competition. I place sports bets for free why not do it for a competition as well?  I just need to cross some Ts and dot some i(s) but I should be good to go long before the competition officially kicks off on March 15th. Feeling excited and lucky.

I also voted for "Maharaja of Bitcointalk" since just using the "king" word sounds too plain and it's a kinda cliché too.

Feel free to post a question here if you have any doubts regarding the rules. Please do join in. The contest was supposed to start on 8th March but I have delayed it since we haven't reached the goal of 20 participants that would be required the prizepool to be as $600. If there are lesser participants, the prizepool would be lower depending the number. I hope 20 participants isnt too much to ask for a free to enter tournament. I will personally invite more potential contestants and see how it goes. Hopefully we hit the magic number in a week's time.
Regarding the name, I feel so too. King felt just alright but calling it Maharaja felt exotic and to me personally a lot more relatable and a sense of power.


Wouldn't you like to know how you have been doing in terms of ROI compared to good tipster? I will try to add some bonus fun events if we do reach the goal of 20 participants, that we are shy of. Please do participate. It's free to participate anwyays.  ;)


Thanks @entebah for quoting the explanation for the questions 1 and 2.

3. I think you have the ROI calculation wrong. Let me explain what his ROI will be if he spams 1.05x all in's. Well, first of all, if you lose all of your bankroll, you are out of the tournament(there might be an option for re-entry or paid entry in the future, the entry fees will be added into the prizepool). Lets just say the person has unlimited entries, His entire bankroll is 1mBTC and he plans to bet that on a bet of 1.05x. He wins the bet.
Now, according to the rules of the tournament, 5% max will be considered as stake for the bet, you for ROI table, your bet will be considered as 0.05mBTC. Now, you've won the bet at the odds of 1.05x. So, You've won 0.0025mBTC.

Now, What was your betting stack before the bet = 1mBTC.
How much have you bet = 1mBTC
How much will be considered as bet for the competition(5% of current balance) =  [(5x1)/100] = 0.05mBTC
Odds that you've bet at =1.05x
Bet status = won
Tournament's bet calculation = 0.05(tournament considered bet) x 1.05x (odds) = 0.0525mBTC
Amount won = Tournament's bet calculation - Considered bet = 0.0525 - 0.05 = 0.0025mBTC
New Balance = Bankroll before the bet + Amount won = 1mBTC+ 0.0025mbtc = 1.0025mBTC
ROI[(balance before bet x new balance)/100] = 0.010025%

Your ROI and Balance will be updated after every bet you make (its a lot of work for me, but I'm happy to do it).
Which means, after every bet you make, I'll calculate all the above and then calculate the ROI for the competition accordingly. The first screenshot will obviously be calculated first.
Hope this answers your question. Let me know if you have any doubts regarding the same.

In the case above, like youve said the person going all in, he will be going all in to make 0.010025% ROI. Which means, He is risking getting out of the tournament to get 0.010025% ROI, which isnt impressive tbh.

Thanks to entebah and OP for the explanations. Yeah, it does seem a bit convoluted to me, but ok, clear enough, so you're actually calculating based on wager indeed (which I thought was more practical, to cap the wager amount to be counted).

I guess you'd need a spreadsheet with formulas to help you (and players) see the standings. It does sound like a lot of work for you!

If I do play, I'll declare a 20mbtc bankroll probably, which is just over $1000 right now. Kind of based on my current base bet which is 0.2mbtc in 2021, adjusted for past and future BTC appreciation ha!

I was going to manually do each calculation but yeah, with the extra week I have, I might devise a formula or commands so that I can just input the data and ROI automatically shows up. Do join in. Its always good to know where we stand compared to the rest. You might win haha. You just never know. :)

Edit: Updated banner. I have both the banners, which will be given to the winners for display along with an avatar. :)

Thank you for these explanations but what is the rule in case of a losing bet, the participant will lose all his stake, not only 5% of his balance right?
Do you plan to update frequently the participant balances in your spreadsheet?
Because participants will have to take those calculation rules into account when they'll place their bets and eventually make the calculations themselves if their balance hasn't been already updated.
Wouldn't it be easier to just not allow for the tournament bets above 5% of the balance? If someone would submit such a bet, the bet would be just not counted for the competition?

Thanks for the invitation Vennali, this surely is an amazing prize pool after searching for your thread I haven't read the first page yet, and the rules about the said competition, will be back here for some questions because I am too busy right now with some work, and I was waiting on someone that I think will be interested in this kind of competition because he is pretty serious when it comes to gambling as well,

I can not promise that I would register for this tournament because I am still fixing on my bankroll and doing some research just to be prepared, but will keep in touch.

i believe this is a good solution for OP and make it 1 of the rules for this competition

Maharaja of bitcointalk sounds cool  ;D

yes, the name of Maharaja calls something mysterious in some way. Only not sure what kind of way. Could also be a perfect name for a new movie.
but seriously, the tipster competition could be a good one, if you have some experiences users.

I had a thought about it, regarding all ins.  For all lost bets, the ROI would be considered depending on the bet amount lost. It wouldn't be capped to 5% bankroll like it would be for profits. I want the contest to be as easy for the forum members as possible. All you have to do is share your bets on the forum, before the matches start. That's basically it. I would not like to impose a set of rules on how to bet etc. Since, I dont think it is very productive. Let the participants decide how much they'd like to bet on a certain event. Its on me to consider it as max 5% of the bankroll and since, its 5% of bankroll for everyone. Thus ensuring that its fair on all participants.

About updating the spreadsheet. I will update it everyday, at the end of the day. Will dedicate 1-2hrs everyday for calculations, maintenance etc. So, you can just go through the sheet and see where you stand on a daily basis.

Explained above.


Thanks, I think it sounds very cool too.  ;D . I mean, I'd like to be called the Maharaja of Bitcointalk haha. We do have experienced users in the competition but the more participants the merrier. Please do join in if you are into sports betting or you know someone who is. The only rule that a participant has to follow is that they have to post their bets on the forum before the match starts. Be it a single bet or a parlay. IT is very simple. Leave the complex stuff as calculating the ROI etc to me.  8)

I also like this idea. Probably I might join it later as well.

if it could add some significant value, that would be great. At the end the ROI is the only way to measure the input.

Free entry is also a good idea, and could attract many players and interested people.

Thanks for the invitation! I will try to take part in the tournament...
I don't fully understand how to post my bets... I'll see the first participants...  ::)

And one more question, is Stake.com a sponsor?

I will create a games and rounds thread before the competition commences, where the screenshots should be posted. Regarding sponsorship, I will announce it a day before the competition starts. Thanks! Do register now itself(its free). More contestants the better the competition will be.

Is the current number of enrolled participants a secret?  ;) I'm just wondering how things are going and whether we're getting anywhere near the goal. There are 5 more days to join, so I hope we'll see more interest. I think this competition is attractive in many ways: no minimum bankroll, free choice of a sportsbook, events as well as of the odds. I think it's a very flexible competition which can be engaging for a variety of people that usually don't meet in other competitions due to being fond of, say, different sports. I hope there will be enough people to start in 5 days.

Wow, a competition with a system like this reminds me of the tournaments that were run on Directbet in the past. Anyway, it's a really interesting tournament but I wonder, is it really going to go without sponsors? considering that we are free to use any sportsbook available and only provide proof of screenshots or Bet ID, it makes me refrain from participating because I think it would be better if participants only use the same sportsbook but yes, I'm just not used to maybe will monitor the progress fore first.
Good luck to all!

There is no goal at the moment. The tourney will start whatever be the no. of participants. I'll share the spreadsheet with everyone when tournament starts. Where you can see the Updated ROI and the no of bets made.  Can't wait for the tournament to start. :)

Yes, to think of it, it has some similarities to the directbet tournament long ago but a major difference here is that, it was a sportsbook specific tournament. Which was for directbet users only. Where as, I'm trying to include any and every sportsbook that a participant prefers. There is a sponsor and there is a bonus available for making min. 15 bets on sponsored sportsbook. I'll update the information and sponsor when the tournament is about to commence. May I know why you prefer a sportsbook specific tournament to the tournament I've created? It's interesting to figure out the pros and cons of each of them.

Thanks for the responses, vennali. I've pinged a couple of people now to see if they might like to join, and it's not like it takes additional betting too, so why not, right? I'd love to be the Maharaja, it would be really cool to also award additional points or something for actualy commentary and rationale behind the betting though;)

I've registered btw, declared a bankroll of 20 mbtc;) I don't expect to win as my style is highly detrimental to short term gains (I go for long odds and parlays, so have even a win rate of < 30 % but rely on big value bets to carry me) but still, who knows?

Thank you for the invite dude.
I voted for Maharaja as it was used before in MMORPG's that I played. That's all the reason I voted for it.  ;D  ::)

Anyway, I will not be participating in the contest.
I just don't like recording what I bet or how much I spent. Maybe someone does that and this is a good opportunity for them.
Good luck to all the participants.

Thank you for your invitation, if I'm reading this right you'd like me to list my bets over the next month.  Do bets already in play (that are drawn after the 15th of March) count, or is it new bets from the 15th onwards only?

I bet on freebitco.in - Ref link is in my signature  ;D and my bankroll is BTC 0.00510406 - https://youmeandbtc.com/bitcoin-converter-php.php?dir=frombtc&val=0.00510406&cur=usd&btctype=btc&exchange=Bitstamp&dec=8&bgc=DDEEFF&txtc=111133 (https://youmeandbtc.com/bitcoin-converter)

https://talkimg.com/images/2023/05/16/blob439a47f8c4047d67.jpeg

It might be a little conservative for the game, but my bets are usually only BTC 0.0001 https://youmeandbtc.com/bitcoin-converter-php.php?dir=frombtc&val=0.0001&cur=usd&btctype=btc&exchange=Bitstamp&dec=8&bgc=DDEEFF&txtc=111133 (https://youmeandbtc.com/bitcoin-converter)

---

---

To kick things off, I have the price of bitcoin at the end of March 2021:  (the rates are high, but they're more spir of the moment wagers)

https://talkimg.com/images/2023/05/16/blob0779e47741615dc6.jpeg

A draw between the Gunners and the Spirs:  (Hard to choose between two favourite teams)

https://talkimg.com/images/2023/05/16/blobd8a3a32b3f390e72.jpeg

West Ham over Man U.

https://talkimg.com/images/2023/05/16/blob8d5b4f76653a5557.jpeg

I can't see the Wolves beating Liverpool, so I'm going to say it's a draw:

https://talkimg.com/images/2023/05/16/blob4cd2018b485979f7.jpeg

Thanks for the invitation but I'll skip this month and I hope I'd available for another one. Too busy at the moment to focus on a contest that would drive me mad, considering how competitive I can possibly be.
I wish best of luck to all those who'll let in and I'll follow the contest to see how it goes.
 ;)

I am in, can't believe I almost missed this one. Good thing buwaytress posted about it in one in of the topics I am following. I am just waiting with official registration since I can't decide on the size of my bank. I sort of like to bet with big amounts and I am considering entering with big bank or smaller bank and basically doubling the amounts of tickets I make.

@vennali
I feel like you have given yourself a lot of work organizing the competition with rules like this one but if you are up to it the rules are perfect for us players. Basically no restrictions at all. Thanks for organizing this.

Wow, I genuinely thought I invited you and hence I didn't try again. I might have to check on how I missed it. Anyways, You'll at least have a weeks time to register after the tournament commences. So, there's plenty of time to figure out your bankroll and join in.

It is a lot of work indeed. I am currently trying to find ways so that I can auto calculate on google sheets by just putting in the numbers. So, that half the job is done by that. If I can sort that out, rest isnt too hard. Slightly time taking process but I'm happy to dedicate a couple of hours everyday to do it.


Thats alright mate. Good luck with your work. Do follow and if possible, join in. Registration will remain open for at least a week after the tournament starts.


That is perfectly alright that you make smaller bets. In fact, It is a lot more durable as well as potentially profitable when you make smaller bets. According to experts in bankroll management(which is neglected by most casual gamblers) the most one should bet with is 5% of your bankroll. Hence, the competition having that said limit in terms of ROI. I'm trying to not just make it a tournament but also (if possible) teach a few things to fellow gamblers.

Regarding your bets, I don't mind it if the bets have already been made but I cannot accept the ones that starts before the tournament does. I will post the link and PM every participants about where to post their bets. Please do so in the respective thread. 2 of the bets you've posted, the event occurs on 14th March, and those wont be counted.



That's alright, feel free to follow the tournament and join in if your opinion changes. :)



Its a month long tournament, not too short. Hopefully it just works out. You probably just need a parlay or two to click(if you go for high odds). GL :)

I cant award bonus points for commentary, but feel free to do some. Someone may follow your bets and would love to know the rationale on why you chose to bet on the event, etc.

This looks like fun. I think I'll enter.


So from what I understand the rules are:

The goal is to have the highest ROI at the end of the contest, and the top 3 win a prize.

Declare a bank amount
example: 1mbtc

Risk 5% or less of your bank per bet*
example: risk 0.05mbtc

Make at least 20 bets

Bets must be pre-match, parlays are allowed, no live bets

Share the official betslips that show Bet ID and risk amount before the match starts

Duration of tournament is March15 12:00am GMT - April12 12:00am GMT

--

*I have two questions about the 5% max cap rule. Does the max 5% cap apply to both risk amount and profit amount, or just risk amount? If I risk 5% of my bank on a huge underdog or parlay that pays out more than 5% of my bankroll, and it hits, does this count? For example if my bank=1mbtc, I risk 5% of bank (0.05mbtc) @5.00 odds, and profit 0.2mbtc. Will this be recorded for the contest as a 20% gain or a 5% gain?

Does the 5% max cap change, does it grow with current bankroll balance, or is it static and based on your initial declared bankroll? (Flat betting 5% on initial bankroll vs recalculating what 5% is of current bankroll.) If I grow my bankroll from 1mbtc to 1.5mbtc, does the risk max 5% change from 0.05mbtc to 0.075mbtc? Or is max 5% risk fixed on starting bank? If you win are you allowed to risk more (5% of current bankroll vs 5% of starting bankroll)?

--

According to your post earlier, I think the 5% max cap applies only to the bet risk amount (and not profit)? And that the 5% max cap risk amount changes dynamically with the current bankroll balance. Is this correct? I think it would make it easier if it was fixed--5% of starting bankroll is your max risk per bet (as opposed to constantly changing and re-calculating 5% of current bankroll after wins and losses).

Just wondering is this your declared bankroll for the competition? If you bets mostly with 0.0001 btc then declare a smaller bankroll. Only 5% max of your bankroll will be counted for the ROI so in your case 0.0001 btc is only like 2% of your bankroll. So in case if you win, you will get full ROI count from your bet


Yep go with the smallest bankroll possible. The point of this competition is to get the highest ROI from your bankroll not to get the highest profit margin from your bankroll so whatever amount doesnt matter at all as long as you keep on winning and increasing your ROI count . Just make sure that it is within your budget though

Hi and thanks for the reply - I'd scrolled through the thread and saw the 8th of March was the start date, then after I posted, went back and read the post in it's entirity and saw the changed start date.  Can you advise which thread we need to post in please?  Do we just update the one post, or, make multiple posts as we place new wagers?



Yes.


Why?  There's a half dozen football competitions each weekend in the UK, there's ~ 20 wagers.  Then there's the upcoming Grammy Awards,  I took screen shots, but had to do some other stuff and can't redo until Monday (Taylor Swift etc to win).


I think you just answered your own question.

Realistically, I could place 100 satoshi wagers on every thing paying over 100:1 and if one or two come up, then I've blitz the competition - no?

---

---

The two wagers pre 15th of March had already been placed before my declared bankroll.

Thanks for your questions. I think these are pretty important questions that has been touched but not with respect to specific circumstances. I'll try my best to give you example so that its easier to understand.
The max cap is only for the consideration of bet amount with respect to your stack. Your profits can still be unlimited/uncapped. Also, you are allowed to make bets larger than 5% of your bankroll but for the competition, I would calculate it with respect to your bankroll and automatically consider it as 5% of it. I have given an example earlier regarding the same(which you've quoted).

1)for 0.05mBTC bet(@5x) with bankroll 1mBTC,  Your gain would be 20% but lets say you have bet your whole bankroll(1mBTC) on that 5x and won. For your ROI, it would be considered as 5% of your current bankroll. Which would be 0.05mBTC.. and your ROI would still be considered the same 20%. ie. Your new bankroll for any future bets would be considered as 1.2mBTC in both cases. Whereas, if You lose your bet. In the 2nd case, since you have lost all your bankroll, you are out of the tournament. In the first case, since you've bet 5% of your bankroll. New bankroll That I'd consider is 0.95mBTC and calculate 5% for max bet accordingly.

2)I understand that it would be easier if it was a fixed 5% of your original bankroll but it would hinder the profitability/ ROI for a successful bettor. Lets just say a competitor has successfully managed to double his ROI but still all he can bet with is the initial 5%. For his new bankroll, that would just be 2.5% of the value. We will be hindering his profitability and even in the opposite case, If someone keeps losing his bets while considering his initial bet cap, he is more likely to lose his bankroll a lot faster(Nobody wants to watch a fellow bettor lose his bankroll).

Hope that makes sense. Feel free to ask more questions or anything you feel I haven't answered clearly enough, regarding the tournament.

To make it easier for the contestants regarding their dynamic bankrolls. I will try my best to keep their new bankroll updated at least once a day and make a column for both new bankroll after a bet(ill mention which bet) and also mention what 5% of the new bankroll will be. I'll work on making a new google sheets today and tomorrow so that I can portray as much information as possible in table form, regarding the competition.


Apologies for the confusion.I had changed the dates earlier because I felt like I didn't give enough time for contestants to enroll(announced on 4th and tournament was set to begin on 8th). So, I had provided additional 1 week for registrations. Since the tournament went unnoticed by large parts of the bitcointalk community and I wanted to make sure that I'd give everyone visiting gambling and gambling discussions regularly get a chance to see and join the tournament. Hence, I extended the registration period and planned to start the tournament a week later. I had announced it and PM'd the contestants enrolled the same day(on 6th/7th March) and had updated the thread the same day. Maybe you saw the starting date on some quoted message. Regarding your questions:

I will create a games and rounds thread(which is a lot more appropriate for posting screenshots) and will PM every contestants about it by tomorrow. You have to make new posts for ever new bet you make. Please do not edit the bets, If I haven't counted them already, I will deem them as invalid(if there's any editing done after the matches in the bets have commenced). You may edit the betslips before the matches in your betslips starts but try to avoid any editing if possible, especially when the match start time is close by.

Vennali you should note that Freebitcoin is a mutual betting sportsbook, that means odds are changing along with the amounts bet on each outcomes by bettors. Bettors only know which (final) odds will be used to pay their winnings after the closure, so I don't know how you will manage that.
Moreover big bettors (whales) can quite easily change the odds and manipulate the market. That's not the same way of betting as with a classical sportsbook where odds are fixed once you've placed your bet.

Good point. I'm looking into it right now. At the moment, I think the solution is to consider the estimated odds being displayed at the time of betting. Since, that is the odds that made the bettor place a bet on that event. I will talk to everyone who's betting on freebitco.in and see what they think of it.

Be careful to OP about the invitation by PM, some users might dislike it.

Sounds like the Indian word kingdom of Mahabharata.

Maybe you have to especially in this case to put his bet around the contest because isn't his fault

On freebitco.in when you place a bet, the expected payout is show under the box you enter the bet into.

Similarly, when a wager is won, there is a dialogue box showing how much your winnings are.

I'm away this weekend until Wednesday so I'll have to sort out the other screen shots when I get home.

P.S. to the OP, posts in games and rounds section aren't counted in some signature campaigns, so you may not draw as many competitors.

So yeah, you could screenshot the whole info. Including the odds etc. I will only count the bets that are posted on games and rounds thread. So, Timelord2067, You'd have to comply with the same. The bets posted in this thread prior to the start of the tournament, wouldn't be counted. The Screenshots in any case wouldnt meet the criteria for a meaningful post, be it in games and rounds or any other section. So, I don't think that's a major issue. When it comes to participation. Maybe keep the bets ready on imgur and just post the text lines with BB code on monday?. That would be great. 

Estimated odds on freebitcoin are based on the current amounts placed on the outcomes by the bettors and not on the likeliness of the outcomes to occur as for classical bookies. That means you can get estimated odds at 2.5 while on all other sportsbooks the odds for the same outcomes will be 1.5 for example. So it would be very easy for freebitcoin players to choose the overvalued "estimated odds".

It will ultimately even out, if you get the estimated odds at 2.5 while it is 1.5 on classical bookie, You deserve to be rewarded. generally speaking, such huge disparities are rare and any advantageous spot for a gambler is evened out by bettors(unless some huge bet is made on an underdog). I have registered on freebitco.in, just to see how it works. From what I have found up until now, for popular soccer matches, I have actually found worse odds on Freebitco.in for at least 2 out of 3 outcomes(if not all 3). So, I do not mind the screenshot posted with whatever odds one gets at the time of betting. It cant be too far off than the actual odds provided from other sportsbooks.

Don't care either way, but I believe only 100% fair solution to all parties would be to make all participants that are using betting sites like this to post second screen shot with actual winnings. More extra work I know and as you said it will probably even out in the end so maybe there is no need for it.

Quite sure you missed me, but no matter I am here now :) I will register tomorrow just waiting for some multi tickets to finish so I can better choose the bank. I am betting in both ETH and BTC so have to see how much of either will there be left on site and pick one.

If your declared bankroll is 0.005 btc , 100 satoshi wager is only 0.02% of your bankroll and even if you managed to hit 100x with 100 satoshi wager that would be + 2% ROI for you.

Someone could have easily blitz through you with 5% of their bankroll bet at 2x betslip. Its much easier to hit a betslip with the odds range of 1.5-2.5x rather than 100x odds isnt it

I think this post post from Venalli pretty much sums it up. This ROI contest is pretty similar to Directbet's tipster championship if you are familiar with that contest

Thank you Vennali. In this case could you explain me how will be applied this rule on sportsbooks precisely please?

Are we allowed to change our sportsbook for each bet? For example can I place 1 bet on Stake.com, then 1 bet on Freebitcoin, then 2 bets on Stake, then 1 bet on Freebitcoin and so on... ?
Do we need to do something before changing our sportsbook?

i think you can because i already ask the same question. Here the answer from Vennali

Where do we post the bets?
I am interested.

There are only two days left, I hope there'll be enough interested participants for the competitive part to be strong. I also have a question about the competition thread for predictions: do we have it already or not yet? And also another thing: is 15th of March the day we start making predictions or the day the games should start? Since these are pre-match bets, can bets for 15th be placed in advance tomorrow or something like this? I'm okay with waiting till 15th, it's just a technical question about our options.

Sounds interesting, we will be posting our bets here? I assume we will be adding screenshots and am curious how will we be handling live bets?

Are they even allowed? I feel they can be manipulated but I hope we won't have to deal with people trying to cheat their way to the top.

There will be another thread in games and rounds section later for everyone to post their bets


Only pre live bets will be allowed. Im not really sure why, personally I dont see anything wrong with live bets. Its pretty risky to bet on live bets sometimes and the odds might not be decent enough to risk high amount


On another thread in games and rounds section later on after the competition start


As long as it starts on 15th March and latter that should be fine according to this quoted post. For references of this reply, please refer to @Timelord's post https://bitcointalk.org/index.php?topic=5321499.msg56543855#msg56543855

Sorry VennaliEntebah ::) but that doesn't reply precisely to my question...  I 'm not talking about changing one time my sportsbook in the middle of the competition, I'm basically talking about playing with 2 sportsbooks at the same time. Is it allowed?

I really didn't think my start very well. I'm away until Wednesday and may not be able to get the necessary screenshots before the comps have occurred. Nevertheless, I'm in hook-or-crook.

I believe you can.
Obviously you want the best odds possible for your selection so I don't see a problem if you place bets on more than one bookie.

Excited for this to start tomorrow. How many people do we have so far signed up?

No issue at all. You can change your sportsbook whenever you want.


Its okay mate! It is a month long tournament. You do not have to bet everyday. Long way to go. :)

At the moment, We have 17 participants. On top of it, there are at least 5-7 people who are interested in the tournament but are waiting to see how it starts, so that they can decide in a few days. Registrations are still Open. I will share the spreadsheet in a few hours(making a new one for easier understanding). 

TYVM Vennali I hope we will be enough to allow you to launch the contest. It will start tomorrow if all is OK, right? Do you already know at what time we will be able to place valid bets for the contest?

---

Edit :
By midnight you mean 0:00 or 24:00 ? 

0:00 GMT, 15th March.

Contestants stats sheet linked in the OP (https://docs.google.com/spreadsheets/d/1CdsuiZqZZaL-iCwc5M5lfwCVH3kS4eCEKlGIyvdDvaE/edit?usp=sharing). I will add participants to the stats page as they start posting their bets on games and rounds thread (https://bitcointalk.org/index.php?topic=5323922.0).

are these the only accepted coins, and what of the bookies that convert crypto to fiat equivalence how do you calculate that

is Sportbet.one the sponsor of this competition or there is an entry fee?

---

This reminds me of the directbet days, the good times  :'(

Updated the Sponsor banner. Do check them out. Some of the advantages of Sportbet.one (https://sportbet.one/?utm_source=bitcointalk&utm_medium=maharaja&utm_term=Maharaja&utm_content=Maharaja&utm_campaign=Maharaja) are as follows:

- Decentralized Sportsbook(auto payouts, Owners have no control over your funds)
- Truly No KYC
- You can bet directly from your EOS wallet
- 1 click Registration with your google
- No Geo restrictions. Players from USA are welcomed
- Live Stream for most popular sports

No, that was just for prizepool info and in which crypto it could be paid out in.

Yes, Sportbet.one (https://sportbet.one/?utm_source=bitcointalk&utm_medium=maharaja&utm_term=Maharaja&utm_content=Maharaja&utm_campaign=Maharaja) are sponsoring the tournament. It is free to enter and you can use any sportsbook you like. However, to enter the bonus prizepool($100). You will need to make at least 10 bets on sportbet.one (https://sportbet.one/?utm_source=bitcointalk&utm_medium=maharaja&utm_term=Maharaja&utm_content=Maharaja&utm_campaign=Maharaja).

---

Yep, I guess the major difference is in that tournament, you could only bet on directbet where as, in this tourney, you have the luxury to bet anywhere you like. :)

Just to clarify ... what if the starting bankroll is in dollars? And second, are multi bets quoted?  Let's say a multi bet on three matches, will such a bet be counted as one or as three? (an example is posted below).

https://i.imgur.com/wXw35k4.png

can i use that website and join the tournament again?
because i already join the tournament but the coin i choose is Tron but the sponsor website don't accept Tron coin

As long as its a crypto accepting sportsbook, I'll accept it. Yes, parlays are allowed in the contest and it will be considered as 1 bet. If any of the games in your parlay loses, you lose your be.

On Sportbet.one you can play with Bitcoin, EOS, SBet and USDT. You can deposit via Wire transfer, Credit card and other payment methods via 3rd party. See if you plan to bet with any of the following, if not. Just stick with your website for now.

Because I guess, if it was a sportsbook tournament then the challenges would probably be more equal or something like that.

By the way, after I found out that this tournament had sponsors, I immediately created an account there and then registered for this tournament.
Glad to be part of this tournament, will soon make the first bet.

Good luck all!

Can I still join? I never played in such tournament before, so I wanted to see how it works and later I completely forgot about it.

How does one change their betting sponsor in the middle of the competition? I just found out about the tournament being sponsored by sportbet.one so i'll change mine later.

Do I need to submit another form to confirm the change? or maybe send a pm ?

Glad to see you join in. Good luck and have fun. :)

Yes, sure! It is still open. Register by filling in the google forms (https://forms.gle/sJkA6c6rLw9LqjH28) and the post your bets on games and rounds (https://bitcointalk.org/index.php?topic=5323922) thread. You are good to go! Its been just 2 days since the tourney started. A total of 60 bets have already been placed by all of contestants but since it is a month long tournament, long long way to go.

Since you haven't placed a bet as of yet, just fill the form again. I'll delete your previous entry. PM not necessary unless you want to share any additional info. Apologies for any inconvenience caused.

Thank you also for the invite, I also got another notification about it last week sorry for lateness. Rules are not very very clear, but I will give it a go anyway and have also registered and will start late by posting some bets today;)

I see a lot of posters already but I will try anyway!

I know it takes a lot of time to update all the bets.
Do you have an estimate on how often will you update ROI?

Thanks for running this.

This is what I considered at the beginning, this is the reason I am more interested in joining if there is a sponsor because everything is done in the same place because I think only then the work will be easier and faster to complete. But yes, this may be an adjustment regarding the title and therefore bets can be made in the sportsbook that the participants prefer, but about manual counting which takes a long time I think will be a problem here. I'm afraid there will be some mistakes later but even so, I can still trust @vennali to work well and therefore, I still signed up even though it was a little late due to waiting for sponsorship information.

I have updated the spreadsheet with regards to bets made and ROI. Will try to update it daily from now on. If not, at least once in 2 days. I have adjusted the main page in a Leader board view. Keep in mind that the "Effective bet" that you see on your personal page is the max cap for your bet. If you exceed the limit, I will auto consider your bet as the max cap. However, in terms of lost bet, I have taken your bet on face value and not capped it.

I was initially considering a dynamic max cap of 5% depending on your current stack size but I have dropped that idea because, in case a player starts badly, it becomes much harder to recover. So, the cap is static and it is 5% of your starting stack. If you have any doubts regarding calculations or you think I may have calculated your ROI wrong. Please feel free to PM me here or Telegram (@vennali). I will happily recalculate it and help you understand how to calculate.

I've basically given myself a 2nd job. Looking at the amount of work I have to put in for updates etc. So far so good though. I have happy to be conducting a tournament like this.
Regarding mistakes, yes that is a possibility and If you find anything suspicious or something that doesnt add up. Please feel free to contact me. I will recalculate everything from the beginning.

I knew this would take a shitload of your time from personal experience when I run a contest here on forum. Those bets have a way to multiply fast if you skip just one day and then you feel like you are constantly behind. Would give you much more merit for efforts but I never have enough to spread it around as much as I would have liked.

Maybe for multi bets it is enough that you write total odds and stake, you don't have to write each leg. Add them to the spreadsheet after they are finished to avoid cross referencing and possible push bets. That way you will at least save some time.
Or make a public sheet were we have to enter our bets and then you just c/p them after checking with actual bet slips.

I like the site! Easy to use for people who are used to traditional sportsbooks. Any plans to expand market coverage on esports? Especially LoL?

I am just conducting a tournament that is sponsored by sportbet.one. Maybe ask them on their bitcointalk thread (https://bitcointalk.org/index.php?topic=5177893.0)? As far as I can see, they do have LoL markets for pre-match. You might catch a few events live too but I'm not 100% sure on that.

No problem. I appreciate you for doing this.
It takes a lot of fucking time.

BTW, you made an error on my 4th bet. It was won, but you counted it as a loss in the stack.

Keep up the good work.

Oh wow, sorry about that. Updated it straight away. Looking strong in the tournament. Good luck. :)

I am genuinely impressed how well a lot of contestants are doing. Anything in + is great. If you are in -ve, thats okay too.A lot of them missed big wins by 1 game. Ton of time to make a comeback. One day can flip the whole table.

Ahh awesome, thanks mate!

Yeah, it would be better if I didn't lost those 3 stupid games. Especially French handball which was such a stupid loss.

Well, its gambling. Sometimes the results don't fall in your favor. Still looking good. Best to keep your cool and carry on making the right bets. Still over 25 days to go. Everyone has a chance to improve their score and win.  Good luck.

A few contestants might still not be aware that I will only consider 5% of your starting stack if you exceed the limit where as consider the whole amount in case of a loss. I might have to PM them to check the rules once again.

Hello Vennali. Did you change your requirements for contestants using Freebitcoin? Because Timelord2067 has posted some freebitcoin bets but I don't see any odds on his screenshots. You will finally only take the "final odds" or it's just a mistake from him?

Freebitco.in is not a sports betting site.

I have a few ideas to improve the competition but I'll save them for some other time.

Keep up the good work.

I have PM'ed him about it. waiting for his reply.
They do have sporting events and a sportsbook. So, I'll allow it but there needs to be some changes from freebitco.in's users to be able to comply with the tournament rules. Do let me know if you have any improvements that could be made on the tournament. Would be appreciated. Thanks.

... and they would be what exactly?  Your PM asked me to post the results once the games have been played - I've given an example with the Grammy results - is this not enough?

---

---

This is all I see when placing a bet:

https://talkimg.com/images/2023/05/16/blob7660734a37e8edc5.jpeg

and further down:

https://talkimg.com/images/2023/05/16/blob98da164a198530ad.jpeg

There's no outside links no other confirmations.  It's a little klunky and I'm only placing a few bets at a time, but, if that's what you want, then that's what you'll get.

I think yield should be the right indicator instead of ROI.

I am betting as I usually would. Only change I made is betting on those small odds which I think are just a bankroll boost.
I saw a lot of players doing that, not sure if it's their regular betting style or just for the competition.

Problem with freebitco.in is that you know the odds only when it wins. It's pool betting AFAIK and is completely different than regular betting or betting on an exchange.

I just came back after a while to discover that I've fallen down below the pecking order. Fell ill for the last couple of days and managed to place some bets but wasn't able to register them as entries. Anyway, there's still more time enough time to go before the contest ends so I just need to get back to winning ways and get my ROI up.

Also, I wanted to say kudos to @vennali once again for the opportunity to participate.

^ About Freebitcoin, it's really really difficult to verify BUT all you need to do is post your bets as above, and when you win, you can see after it's settled the amount you won. You have to manually calculate the odds though as this is perimutual you don't actually win odds, you win from the pool of losers, equal to the proportion of winning pool you put in, plus the weighted multiplier.

Do you need some help with the sheet?

One win:

https://talkimg.com/images/2023/05/17/blobc42761b716757c73.jpeg

... and one loss:

https://talkimg.com/images/2023/05/17/blobcdb482eb560629f0.jpeg

effectively, one cancels out the other.  (There's just the end of March bets on Freebitco.in - all are unlikely to win)

---

---

Will update other with wagers as they occur.

Maybe he's busy or something like away from the computer that he hasn't had exact time to update the sheets, considering yesterday was the weekend and maybe still on a break.
But yes, it looks like the number of participants has increased and may have exceeded the minimum number of participants that you are looking for, this is of course interesting to look forward to updating the sheet. :)

Okay, guys! Who knows what happened to vennali? Maybe someone else can handle the standings? Maybe we need to start keeping new stats?

It's just that he hasn't written new posts or filled out a table in a while...

I'm here..Will update the stats today. Been a bit busy but I promise to keep the stats up to date in the next 12 hrs. :)
Edit: Took me over 5 hours to just update the spreadsheet. Hopefully can finish the rest soon.

I can also share my spreadsheet so it'll be easier for you to update my stats and you could just focus on the others.

https://docs.google.com/spreadsheets/d/1ARqz4qmqOy2emOLRz9lg88TpXFx9xPxftaeDYRANvrw/edit?usp=sharing

I'm willing to help and update as well if you need someone.  ;)

Hello Vennali could you tell us if the contest is already over or if it will end tonight. You said in the announcement it will end the 12th April but you didn't give the time. So some people think it's already ended since 0:00 and other think it will end at 24:00 GMT.  :-\

I will count 12th April for the contest(until midnight GMT). I'll start the count in a few hours and will carry on to try and get to the result. Calculation will be done in the next 24hrs. :) Sorry for the delay in response.

I've just seen this post, can you please advise whether or not bets placed for the next few days or even weeks away will count towards this competition?  If so, I have bets as far away as the Oscars on the 25^th of April  (and I'm certain I'm not the only one who has bets that play-out after today)

Good question. I will consider it since they are placed within the time limit. This will only delay the price distribution but I suppose that is okay. Sorry about the delay. I have landed in a tough situation in the past week as my father hasnt been feeling well and we suspect it could be covid(He has taken 1 vaccine shot as of now, 4 weeks ago). Going to get tested just now. I will start updating spreadsheets right after I reach back home.

It seems like it's been more than a week but there hasn't been any updates about this tournament, what are the obstacles for this delay?
I hope everything can be resolved soon, even though I realize I am not the champion but at least solving this faster is something that is good and will be a plus. :)

Hmm, the post above yours perhaps?  I placed bets on events that are taking place this week-end (The Oscars) so perhaps they are being included as they were placed prior to the cut-off date??

Hope your father is resting well and makes a full recovery @vennali - take your time, Real Life is more important.

Real life comes first.

That's why I stopped posting bets.
It's hard to manage all the stuff and update every users bets.

Which post, if you are questioning about the tournament ending time at least you can find it in the OP.

I don't know anything about that, if there are still questions then it would be better to wait for further information from @vennali, because I am also curious about the continuation of this tournament. :)

Perhaps instead of riding the OP, you actually read their posts and then you will see they have some real life issues that take precedence over your need to in the running for a monetary prize.  No one else is being so impatient.  This is meant to be a friendly competition, please keep that in mind next time you want to click "reply"

I have started the count again. I should get it done by 27th night and the results will be announced right after. Good luck everyone.  :)

Sorry about the delay. I'll address all the questions here if there's any. Will also look into previous queries in a bit. Thanks for your patience.  COVID has been very harsh on my family and I have been going through a tough time at the moment. Things are better and I'm back to work.

Why did i Missed this event lol, I'm too lazy checking the thread from the beginning because of not familiarity in the word Maharaja  ;D

Anyway Since this was ended last april Mid , so congratulations to all the winners.

Glad to hear about that vennali. I did see myself also the sheets were taking so long to get updated it was hard for me to follow the standings, which is part of the reason I stopped posting bets myself. Other than the fact I was for sure going to lose of course;) I wish good luck to all participants and good counting to OP!

Let me wrap this up as soon as possible and there are more similar events in the pipeline. Could be a sportsbook specific instead of open to all sportsbook though. Let me know if you'd like to see more Open to all tournaments or a specific sportsbook ones (which would be easier to manage, since we can tweak the software for the bets to directly be entered into the contest). I should have updated the sheets on daily basis so its easier to follow the standings. Hopefully next time.  :)

Yeah, once you skip a day it's hard to get back.
I'd advise it to be highest yield ,and not ROI.
No need to set minimum odds or minimum amount of picks.
Only prematch picks count.

If it's a specific sportsbook it's hard because some users are limited at some bookies, not all bookies have the same offer, and so on.

Minimum amount of picks is not very important but it is put in just as a fail safe so that a contestant's skill is averaged out to an extant over a course of time. Also, to keep the spirit of the tournament going. I'll give you an example. Lets say a player bets 20x as their first bet and wins. He might just stop betting altogether after that and react based on the competitors. The other way works as well, if you lose 1 bet, the min limit give you hope to carry on betting as there are 19 more bets to go and you'll surely win a fair few from them.

Also, can you explain what do you mean by yield? I had chosen ROI instead of +profits because from my testing, every other potential gauge can be exploitable. Lets say, we just calculate the difference of the stack from start to end. A person with 1 BTC will have a major advantage over a person with 0.001 BTC with respect to how much profit they've made. Please let me know. Once I'm done with the first installment. I am very much looking forward to host another contest which would me bigger and better. Could surely help the cause if you have any feedbacks on how to improve the current format.

Welcome back vennali. Sorry about the covid-19 situation with you and your people and its nice that you didn't let it weigh you down. I have been hoping you would get back and give us an update about the contest since it ended at the beginning of the month. Good luck to other participants especially those who had the highest number of bets like @Saint-loup and others. I didn't participate actively due to other engagements I have in life and also because I wasn't seeing my progress as the competition progressed. Good luck to everyone and once again, welcome back. I'd be looking forward to the update to the spreadsheet and announcement of the winners.

I couldn't agree more - AFAIK all of my wagers have been run -  not sure if anyone else has outstanding bets (it'd be funny if we were waiting on something like the NFL or Wimbeldon results with a 100:1 wager) ;)

Anyways, I don't think I'll claim the title as most of my wins were ~ 2:1 (not enough of a win)

Yeah, would be looking forward to that. I did join as I said but stopped because it was too hard to follow the leaders anymore but I would suggest a specific sportsbook, easier to share bet IDs instead of screenshots (so the sportsbook can verify for you). And yeah easier to follow daily updates would be really cool to motivate people to keep posting:)

Good luck next time:)

Yield:
(aw - ab) / ab x 100%  

where:
aw - Amount of winnings (how much money a player won)
ab - Amount of bets (how much money a player invested)

When you calculate ROI, the player that had a lot of bets on smaller odds will have advantage compared to the one that had the similar amount of bets on bigger odds.
You are only taking into the account the starting balance and end balance which is wrong because a player might not actually use the whole starting capital to obtain that profit.

It is general consensus among sports bettors that Yield is the way to go when calculating someones profitability.

So, how is the continuation of this tournament, is it going to make a new one with some changes or something?
But anyway, I am very curious about the results in this first round who will get the title "The Maharaja of Bitcointalk" or "The King of Bitcointalk"?
Interesting to look forward to! 8)

vennali, I'm sorry to hear about the COVID-19 situation. Of course, these days it's unpredictable and nobody can be consistently productive because there's always room for unexpected consequences. I was lucky enough to get my first shot of the vaccine this week, but it also depends on the country and circumstances.
Counting all the bets is a lot of work, so it'll probably take more time. I can see that my stats weren't updated yet.
Just let us know once it's done and whether we can help.
Good luck!

There's probably no continuation but vennali did said in his last post that there's more similar events in the works so it's likely we get to see another sportsbook contest in the near future. Maybe we'll see something along the lines of a pool prediction contest or survivor pool.