BitBet "BFL Will Deliver" bet resolving soon, how did you bet?

[mrb]

This is why I think betsofbitco.in is superior to bitbet.us. Early betters make more than late betters, but everybody is guaranteed to receive 100% of their initial bet, because betsofbitco.in takes the fee out of the losing side of the bets, not out of both sides.

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[Frizz23]

This is why I think betsofbitco.in is superior to bitbet.us. Early betters make more than late betters, but everybody is guaranteed to receive 100% of their initial bet, because betsofbitco.in takes the fee out of the losing side of the bets, not out of both sides.

Exactly. You should never lose money on a winning bet. bitbet.us should change their weighting algorithm imho.

[hotdealdave]

Doesn't betsofbitco.in take out 10% from the losing side though? For a relatively even-sided bet like this one that would be 4-5 times as much. And betsofbitco.in took like 5 days after the resolution date to pay off a winning bet I had with them which I was not amused about.

Bitbet has some room for improvement, but I still prefer them.

[bonker]

Doesn't betsofbitco.in take out 10% from the losing side though? For a relatively even-sided bet like this one that would be 4-5 times as much. And betsofbitco.in took like 5 days after the resolution date to pay off a winning bet I had with them which I was not amused about.

Bitbet has some room for improvement, but I still prefer them.

+1 no registration required at bitbet too.. I like that.

 Plus all my winners have been with bitbet and all my losers with betsofbitcoin.in.

[Phinnaeus Gage]

I just noticed that people lost money - even when betting on the right side!
http://bitbet.us/bet/7/bfl-will-deliver-asic-devices-before-march-1st/

Have a look:




E.g. this guy placed 50 BTC on "No" (which was correct):

21-02-13 15:50    No    710    50.00000000    146mo    49.93600046    1FRBb

But instead of receiving something like 100 (50+50) he did not even make his wager back!

Is bitbet.us buggy?

It looks like the bets are really heavily weighted. In other words, the first people to enter their winning bets get a lot more than the last, for the same bet. It does seem rather unfair that the last few winning bets actually lost money. Maybe Milk could tweak the weighting formula in the future to prevent that from happening with relatively even bets like this.

Let me get this straight! If I would have bet 10 BTC and won, all I would have gotten back is my bit if it was in some weighted position? I understand the weight aspect, but getting back less than what's wager after winning is not an ideal outcome.

[ThickAsThieves]

Totally, that guy who bet 50BTC lost like 11 cents! Lemme get my pitchfork.

[Frizz23]

Lemme get my pitchfork.

Maybe that's what he's thinking

It was a relatively balanced bet. So he probably expected to get 100BTC back (his 50 + 50 more). Instead he lost money.

[MPOE-PR]

I guess this thread is going to happen in every single forum section. See here.