🏆The Maharaja of Bitcointalk🏆 Sports bets Tournament by Sportbet.one

[Russlenat]

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. 

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[nelson4lov]

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.

[vennali]

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.

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.  

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.  

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?

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.

[buwaytress]

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!

[vennali]

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.

[Saint-loup]

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.

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?

[YuginKadoya]

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.

[entebah]

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?

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

[Cratoon]

Maharaja of bitcointalk sounds cool 

[coin.princess]

Maharaja of bitcointalk sounds cool 

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.

[vennali]

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?

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.

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?

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

Explained above.

Maharaja of bitcointalk sounds cool 

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.

Thanks, I think it sounds very cool too.  . 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. 

[BitcoinAccepted]

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.

[3meek]

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?

[vennali]

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.

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! Do register now itself(its free). More contestants the better the competition will be.

[kryptqnick]

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.

[hahay]

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!

[vennali]

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.

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.

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!

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.

[buwaytress]

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?

[Reid]

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.   

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.

[Timelord2067]

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  and my bankroll is BTC 0.00510406 -



It might be a little conservative for the game, but my bets are usually only BTC 0.0001


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)



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



West Ham over Man U.



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