Board :Community Events
Author :Splurge
Subject :Silla Clan Holding Bets @ 2v2 PK Tournament
Date :1/16
                       
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                         '--'      
                                             
~~~~~~~Silla Clan Holding Bets @ the 2v2 PK Event~~~~~~~~

<b>How to play:
Each bettor can place their bet, ranging from minimum of 100k coins to unlimited amount, on the team that they are rooting for. If the team that you chose wins the tournament, you will be paid out proportionately from the total pot (based on your betting amount).


When: Saturday, January 17, 2025 at 7pm - 8pm EST!
Where: The Hammer and Nail (follow path from S Kug)

Prizes: Prizes will be varied based on the specific amount of bet you are placing money on the winning team. Late bets will be accepted but will be penalized based on elimination of teams.

See you there!



All bets go into one shared pot. At the end of the event, the pot is split only among those who backed the winning team. The split is based on how much each bettor's shares are worth compared to everyone else on that team.
Example: If Team A wins and your shares are 20% of all the winning team's shares, you get 20% of the total pot.


The house does not set fixed odds; the odds are created by the pool and the size of each team's support.


The Penalty Rule
To keep things fair, betting late comes with a penalty. The later you join, the fewer shares you receive for your coins.
At the start (before the first round): Every coin you bet counts as a full share (100%).


Once the first round has begun and bets are closed/reopened: Your bet is penalized based on how many teams are still alive compared to the total at the start.


The formula is simple:
Shares = Your bet : (Remaining teams ? Total teams at start)
Example (6 Teams Event)
Before Round 1 starts (all 6 alive): Betting 100k = 100k shares.


After Round 1 has begun (6 still alive, but you bet late): Betting 100k = 100k X (5/6) = 83k shares.

After 1 team is eliminated (5 remain): Betting 100k = 100k ? (5/6) = 83k shares.


After 2 teams eliminated (4 remain): Betting 100k = 100k ? (4/6) = 67k shares.


After 4 teams eliminated (2 remain): Betting 100k = 100k ? (2/6) = 33k shares.


So the further the event goes, the smaller your share for the same bet.