Bets of Bitcoin Guaranteed Bet

[shamoons]

http://betsofbitco.in/item?id=330

Looks like this one is pretty much a shoo in for anyone that wants to guarantee a victory

[Monkey1]

But the amount you win decreses as more people pile into the winning side.  Also, half the returns are based on when you placed the bet!

[shamoons]

But the amount you win decreses as more people pile into the winning side.  Also, half the returns are based on when you placed the bet!

Agreed, but a guaranteed win is still a win 

[Stephen Gornick]

Agreed, but a guaranteed win is still a win  

This just hasn't been closed properly.  Bets placed after the outcome is known get reversed.

Not sure what date that was for this one.  Anyone have a link, to help coinjedi in determining what the date threshold was?

[Edit: Bets September 12th and later to be canceled likely.
 - http://en.wikipedia.org/wiki/IPhone_5 ]

[Bitznbitz]

Time travel, WHERE ARE YOU?

[Mausini]

how are odds calculated on bets of bitcoin??

[Stephen Gornick]

how are odds calculated on bets of bitcoin??

Winning bets get 90% of losing bets.  So if winners had 8 BTC wagered and losers had 2BTC, there would be 1.8 BTC distributed to those that had bet the 8 BTC.   The amount earned will depend on when the bets were made.  Earlier bets are weighted much more heavily than bets made right before the bell.

More details here:

 - http://betsofbitco.in/help

[Mausini]

how does that work with with weighing bets over time? how much are late bets discounted?

[Stephen Gornick]

how does that work with with weighing bets over time? how much are late bets discounted?

What is a weighted bet?
To promote early bettors on a statement, we distribute 45% of the lost bets such that early bettors get a larger share. Each bet is time weighted and get a share from this portion proportional to the weighted value. Weight of a bet is simply the minutes between the time of the bet and betting deadline. For an example, see the answer of "How are the losing bets distributed?".

What is the best betting strategy?
Betting involves balancing two incentives. Waiting for the deadline may give you extra information about the upcoming event, but early bets earn a higher weight. So bet as soon as you are confident about the result, bet more for higher profits. Also you can always add more bets later on.

 - http://betsofbitco.in/help

[deadweasel]

Oh goody another gambling site!  I think I need help...