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Implemented Betting Exchange for Member vs Member Bets

Bob

Bob

Developer
Staff member
As per title, the ability for Member A to create a "bet" with Member B. This is a ONE on ONE bet.

Member A creates a Bet, sets the stake amount (which is immediately deducted from Member A's on hand cash) and choose the member they want to place the bet against.

Member B can then either accept the bet (which the stake amount is immediately deducted from Member B's on hand cash) and the bet is LOCKED (preventing Member A from changing the bet criteria) OR Member B can reject the bet in which time Member A will either have his stake returned and the bet will be closed OR the bet will open to the public which in case anyone can accept the bet (only 1 person tho).

Bets will consist of a TITLE that gives members an idea of what the bet might be about (eg Raiders vs Broncos), a DESCRIPTION that sets the parameters of the bet (The Raiders will beat the Broncos by 14 pts), Stake amount, which is the amount that BOTH players wager (winner takes all), setting some Dates that control various aspects of the wager and whether its private or public.

Once the event is over, it takes BOTH Member A and Member B to settle the event. The payout options are Push (returns the stakes), Pay Member A or Pay Member B. If the event is not settled by both members after x amount of time (admin configurable), then a Bookie that has permission to Settle Member Bets will be able to handle it.

The Bet Criteria will NOT be editable by ANYONE (that includes Admins, Moderators and Bookies), so there is no way (besides editing the DB) to change the criteria.. ie, if Sheldon bet me that the Lions would beat the Raiders by 33 points, then one of his buddy Mods couldn't change it to 21 points and then settle the wager in Sheldon's favor.

Anyway.... this is in the initial planning stages now, so NOW (not when I am done with it) is the time to make comments and suggestions...
 
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DaniD said:
Edit: I didn't see while scrolling, so I apologize if this has been answered, but will/can there be any trophies associated with winning/placing (maybe even from withdrawing...) from bets?
Click to expand...
Bob said:
Yes, I've expanded the Sportsbook criteria to include BET specific criteria. I'll post about it later today or tomorrow.
Click to expand...

As mentioned, I've added 7 new Sportsbook Betting Exchange criteria. This criteria is available with the Core XenForo "Content and Achievements" criteria for Notices, Promotions and Trophies.
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For those of you that use the Daily Statistics functionality in the Admin CP, I've added the ability to track the amount of created bets.

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For @tajhay (cause he always asks about widget for the [bd] WF...

I've added a Recent Bet Winners Renderer to compliment the Recent Winners Renderer.

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Its looks exactly like the Recent Winners (just an Avy, username and amount.

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When you click on the amount won link, it pops up and overlay with detailed information about the bet.

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NOTE: this same block is available for FORUM HOME when not using the [bd] WF.
 
Last edited:
And I thought I was done.... One of the license holders requested a LAST MINUTE addition (which they graciously paid me for to be included in the initial release).

This new addition effects the ACCEPT bet functionality. When a Challenger accepts a bet, they now can include a MESSAGE (256 character limit) that will display on the Bet page.

A couple quick notes about this. Since this was last minute, I didn't have a lot of time to do things like including an option to post the message PRIVATE (Owner only) or Public, so for now, this message is PUBLIC (meaning that anyone that can view the bet, can see the message). The other thing is that its a one time shot as there is no EDIT functionality (YET). I plan on added that later, however, it will be TIME constrained (like 24 hours) and only while the bet is in an Accepted state (Moderators will have the ability to edit this message field as well as it has no effect on the bet itself).

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poindexter said:
Great addition. Our license expired in March. I'm guessing we'll have to repurchase or pay a license renewal fee to get this?
Click to expand...
License is good for life. You just need to renew support/downloads (which is $30 for a 1 year extension).
 
Just a heads up. I had to revert back to the Original Plan for EDIT Bets functionality (which is limited to just setting a bet private and setting a sportsbook event id). I've also removed the Edit Expired Bet functionality. Expired bets are now completely locked and will be removed from the system 1 week (7 days) after they have expired.
 
Bob said:
Currently, NO and no future plans for it either. I am mostly against this as IMO, there are controls in place that can be used to properly MANAGE your system. MAX Bet amount is one of them. Setting a REALISTIC limit will stop the retarded GaZillion dollar bets that don't happen in real life. That also prevents those GaBallion dollar circumventing bets from happening as well. Permissions. If a user is caught doing something, you should penalize that user (not everyone). Users have INDIVIDUAL permissions. You can revoke that individuals Betting permissions without effecting the group he is in OR you can create a new group with lower betting permissions and stick them in it.

One thing that I AM going to be putting in that will help you with the situation you explained is a REVERSAL function. A Reversal is a post settlement function that a Bookie can perform, that will reverse the settlement ie it will take away the winnings from Member A that were wrongly awarded and Award them to Member B. If you don't catch the winner in time (say he turns around an places bets with that money), then you can still manage that by DELETING those bets he made (which returns all the stakes placed) and THEN perform the reversal. And of course, you can always use the CASH system tools to take away money from that user (or users) when they do build it back up.

btw, I don't really see why users can't give cash to each other. I've been thinking about adding a "give cash to member" functionality for awhile now. Also, most cash/points systems have that (at least they should).
Click to expand...
I as well disagree that this should not be implemented.
You can easily catch users abusing this, set punishment systems, and much, much more.

If you are running an economy intensive gaming community like I do, there are dozens of precautions you can take to ensure this is not a problem.
 
And...just finished reading every word of this thread. So hyped, you have no clue! <3
Now to implement, spend 24 hours testing, and publically launch!

Amazing amazing amazing work @Bob !!!!!
 
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