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Author Topic: BitBet rules of betting  (Read 674 times)
bitcad
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January 25, 2013, 12:36:19 PM
 #1

Just wondering why this bet on BitBet did not reward betters who legitimately got their bets in before the price hit 18.35?
This happened at 4:46am 1/24 yet they only took bets from before 1/22. Do they automatically go 2 days before the resolution even if it ends early?

http://bitbet.us/bet/152/btc-usd-at-mtgox-will-stay-below-18-35-and/

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January 25, 2013, 04:03:48 PM
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The event actually happened 24-01-13 04:15. The earliest refunded bet is 24-01-13 04:15. Where do you see a problem?

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January 25, 2013, 04:29:07 PM
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I guess the problem is my graph reading abilities.  What is an easy way to see past transaction raw data.
Bitcoincharts will only give like the last 50 points of raw data (afaik).

Much appreciated, thanks!

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TimJBenham
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February 12, 2013, 09:36:00 AM
 #4

Many of the propositions listed on bitbet are dangerously ambiguous. A few examples follow.

Quote
Djano Unchained at the Oscars

    The Tarantino film will win in one or more category at the 2013 Academy Awards.
http://bitbet.us/bet/6/djano-unchained-at-the-oscars/

What film is that? I have never heard of it. Of course they mean Django Unchained, but such an elementary mistake detracts from the credibility of the site. What does it mean for a film to win a category? Only a few categories such as Best Picture are nominally awarded to a film. What if it wins Best Production Design only? "No" bettors would point out that is awarded to a named production designer for a film, not to a film.

Quote
Bitcoin price in USD on the MtGox exchange will rise above $200 before the end of 2013
http://bitbet.us/bet/215/bitcoin-price-to-rise-above-200/

End of 2013 in which timezone? there is an approximately 24 hour ambiguity in the spec. There is no default timezone mentioned in the FAQ. This defect is common and I will not labor it.

Quote
Before June 2013 one plane from P.R.China (non-military or military) will be shot by one military plane from Japan. Warning shots with no touching on the Chinese plane will not be counted.
http://bitbet.us/bet/148/one-plane-from-p-r-china-will-be-hurt-by/

Does this mean it has to be exactly one plane that is hurt and exactly one plane doing the shooting? Does shooting encompass rockets or only ballistic projectiles? Accounts of any confrontation between Chinese and Japanese planes are certain to be contested.

Quote
Price inflation in the USA (as measured by official CPI-U) will reach 4.2% or more in 2013. To be measured by the "change avg" value here
http://bitbet.us/bet/144/us-inflation-to-double-in-2013/

Sounds all technical and correct, doesn't it? Not really. Actually there is no "change avg" value in the linked BLS page. The poser has misread the column headers. There is a "Percent change" units specification above two columns labelled "Dec-Dec" and "Avg-Avg". Moreover BLS inflation figure are subject to official adjustment.

Bitbet needs someone with gambling experience and research skills tightening up these propositions. It is imperative that the settlement of propositions be as uncontroversial as possible.

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April 30, 2013, 07:19:33 AM
 #5

Many of the propositions listed on bitbet are dangerously ambiguous. A few examples follow.

Quote
Djano Unchained at the Oscars

    The Tarantino film will win in one or more category at the 2013 Academy Awards.
http://bitbet.us/bet/6/djano-unchained-at-the-oscars/

What film is that? I have never heard of it. Of course they mean Django Unchained, but such an elementary mistake detracts from the credibility of the site. What does it mean for a film to win a category? Only a few categories such as Best Picture are nominally awarded to a film. What if it wins Best Production Design only? "No" bettors would point out that is awarded to a named production designer for a film, not to a film.

Quote
Bitcoin price in USD on the MtGox exchange will rise above $200 before the end of 2013
http://bitbet.us/bet/215/bitcoin-price-to-rise-above-200/

End of 2013 in which timezone? there is an approximately 24 hour ambiguity in the spec. There is no default timezone mentioned in the FAQ. This defect is common and I will not labor it.

Quote
Before June 2013 one plane from P.R.China (non-military or military) will be shot by one military plane from Japan. Warning shots with no touching on the Chinese plane will not be counted.
http://bitbet.us/bet/148/one-plane-from-p-r-china-will-be-hurt-by/

Does this mean it has to be exactly one plane that is hurt and exactly one plane doing the shooting? Does shooting encompass rockets or only ballistic projectiles? Accounts of any confrontation between Chinese and Japanese planes are certain to be contested.

Quote
Price inflation in the USA (as measured by official CPI-U) will reach 4.2% or more in 2013. To be measured by the "change avg" value here
http://bitbet.us/bet/144/us-inflation-to-double-in-2013/

Sounds all technical and correct, doesn't it? Not really. Actually there is no "change avg" value in the linked BLS page. The poser has misread the column headers. There is a "Percent change" units specification above two columns labelled "Dec-Dec" and "Avg-Avg". Moreover BLS inflation figure are subject to official adjustment.

Bitbet needs someone with gambling experience and research skills tightening up these propositions. It is imperative that the settlement of propositions be as uncontroversial as possible.

I would not recommend betting on an ambiguous outcome. Try betting on real-life events, such as sportsbooks, or BetOnEurovision.com

Bet on Eurovision with BTC http://BetOnEurovision.com (http://BetOnEurovision.com) - 99% return to player guaranteed!
Atruk
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April 30, 2013, 08:01:48 AM
 #6

Many of the propositions listed on bitbet are dangerously ambiguous. A few examples follow.

Quote
Djano Unchained at the Oscars

    The Tarantino film will win in one or more category at the 2013 Academy Awards.
http://bitbet.us/bet/6/djano-unchained-at-the-oscars/

What film is that? I have never heard of it. Of course they mean Django Unchained, but such an elementary mistake detracts from the credibility of the site. What does it mean for a film to win a category? Only a few categories such as Best Picture are nominally awarded to a film. What if it wins Best Production Design only? "No" bettors would point out that is awarded to a named production designer for a film, not to a film.

Quote
Bitcoin price in USD on the MtGox exchange will rise above $200 before the end of 2013
http://bitbet.us/bet/215/bitcoin-price-to-rise-above-200/

End of 2013 in which timezone? there is an approximately 24 hour ambiguity in the spec. There is no default timezone mentioned in the FAQ. This defect is common and I will not labor it.

Quote
Before June 2013 one plane from P.R.China (non-military or military) will be shot by one military plane from Japan. Warning shots with no touching on the Chinese plane will not be counted.
http://bitbet.us/bet/148/one-plane-from-p-r-china-will-be-hurt-by/

Does this mean it has to be exactly one plane that is hurt and exactly one plane doing the shooting? Does shooting encompass rockets or only ballistic projectiles? Accounts of any confrontation between Chinese and Japanese planes are certain to be contested.

Quote
Price inflation in the USA (as measured by official CPI-U) will reach 4.2% or more in 2013. To be measured by the "change avg" value here
http://bitbet.us/bet/144/us-inflation-to-double-in-2013/

Sounds all technical and correct, doesn't it? Not really. Actually there is no "change avg" value in the linked BLS page. The poser has misread the column headers. There is a "Percent change" units specification above two columns labelled "Dec-Dec" and "Avg-Avg". Moreover BLS inflation figure are subject to official adjustment.

Bitbet needs someone with gambling experience and research skills tightening up these propositions. It is imperative that the settlement of propositions be as uncontroversial as possible.

I would not recommend betting on an ambiguous outcome. Try betting on real-life events, such as sportsbooks, or BetOnEurovision.com

These bets seemed to have been resolved to everyone's satisfaction though.

You seem to be pimping this eurovision site pretty hard, what evidence is there that they might actually be able to pay out bets. I'd rather toss a few mBTC at this bet.

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