Partially Implemented Bookies bank all stakes from wagers placed on outcomes that do not pay out.

[topcat]

would it be possible to add an option where the bookie banks the punters losses for the event they set.

option would maybe be in usergroup options eg. keeps cash from losing bets

eg. A member sets an event Man utd V Barnsley

everyone bets 100 on Man utd

Barnsley wins. The bookie who set the event pockets and the 100's.

I have a shop on my forum and would like to offer bookie for the day/week as a shop item.

I think the possibility of being able to make money out of being the bookie would encourage more members to add events.

cheers

 

[topcat]

sound good. look forward to it

 

[resonansER]

@Bob B, this is OUTSTANDING options! Cool! Excellent!
And what about my suggestion? You'll be implementing it? Extremely need, please.

 

[Bob]

I won't have an answer until I do some R&D. I don't add everything that everyone suggests (that would be impossible). I haven't even committed to doing THIS yet (and won't until I do some R&D).

 

[d12j28]

This sounds awesome Bob. I actually think our "bookie" would love it.

 

[Bob]

I moved this back into suggestions and marked it as partial implemented so that I can properly track (and discuss) this.

 

[topcat]

would it be possible to make this a usergroup option rather than global.

Then members can can add events in the normal way without the risk of losing money/credits

and others can have a go at being a real bookke for x days etc. either by requesting or using another mod such as brivium shop. here members could buy the ability to be a real bookie and take the risk of winning cash or losing it.

cheers

 

[Bob]

Im not sure about that. Once I get into development, I can take a look into it.

 

[Bob]

I've been discussing this with someone in private and we've come up with a decent solution that I think is doable as far as me implementing it.

When users place wagers on outcomes within an event, those stakes will go into a QUEUE (that the bookie does not have access to).

When the bookie settles the event, the first thing that happens is that PUSHES are processed (which will be deducted from the Stakes Queue).

The next step will be the Pay Outs. These will be processed regardless of what is in the queue or not (just like they are now).

The total payouts amount from the above step will then be deducted from the stakes queue.

1. If the Stakes Queue is MORE than the Total Payout, then the balance will be added to the Bookies on hand cash.
2. If the Stakes Queue is LESS than the the total payout, then the difference will be deducted from the Bookies on hand cash.
   1. If the Bookie doesn't have enough to cover it, their on hand cash will be zero'd out and a "Loan" entry for that bookie will be created to cover the difference (with a admin configurable set % Loan Shark Fee).
   2. The Loan Shark (basically the system) would then collect on the loans (via CRON) by checking the bookies on hand cash balance at set intervals (hourly, daily, weekly, monthly etc).
   3. If the bookie is in debt to the Loan Shark and tries to place a wager on an event, the system will first take care of any loan payments that are due. This prevents the bookie from avoiding paying off debts.

This (To me) is the most realistic way to handle it. Bookies will have to do their jobs just like real bookies do .. ie, no more Patriots 50 to 1 beating the Jaguars lol Bookies that create unrealistic payout odds will soon find themselves knee deep in debt to the loan sharks!

Testing this out right now... its very ROUGH and will be awhile before it becomes reallity, but just wanted to keep those that are interested in this "In the loop".

btw, I added a 3rd bit of functionality involving paying back the loan sharks.

 

[Kintaro]

I've been discussing this with someone in private and we've come up with a decent solution that I think is doable as far as me implementing it.

When users place wagers on outcomes within an event, those stakes will go into a QUEUE (that the bookie does not have access to).

When the bookie settles the event, the first thing that happens is that PUSHES are processed (which will be deducted from the Stakes Queue).

The next step will be the Pay Outs. These will be processed regardless of what is in the queue or not (just like they are now).

The total payouts amount from the above step will then be deducted from the stakes queue.

1. If the Stakes Queue is MORE than the Total Payout, then the balance will be added to the Bookies on hand cash.
2. If the Stakes Queue is LESS than the the total payout, then the difference will be deducted from the Bookies on hand cash.
   1. If the Bookie doesn't have enough to cover it, their on hand cash will be zero'd out and a "Loan" entry for that bookie will be created to cover the difference (with a admin configurable set % Loan Shark Fee).
   2. The Loan Shark (basically the system) would then collect on the loans (via CRON) by checking the bookies on hand cash balance at set intervals (hourly, daily, weekly, monthly etc).
   3. If the bookie is in debt to the Loan Shark and tries to place a wager on an event, the system will first take care of any loan payments that are due. This prevents the bookie from avoiding paying off debts.

This (To me) is the most realistic way to handle it. Bookies will have to do their jobs just like real bookies do .. ie, no more Patriots 50 to 1 beating the Jaguars lol Bookies that create unrealistic payout odds will soon find themselves knee deep in debt to the loan sharks!

is this already implemented?

Marked as partially implemented as I've not yet fully implemented everything that I would like to do with this as well as what others would like to see as well.

There is a new Sportsbook General Option: Pay Bookies stakes from losing wagers. When enabled, bookies will bank all stakes from wagers placed on outcomes that do not pay out during the settlement process. This does not include outcomes that were pushed or wagers placed on any outcomes by the owner of the event (we are NOT going to give the bookie back his own losses as that makes absolutely NO SENSE!)

The Owner of the event (the Bookie) will receive ONE alert during the settlement process letting them know that they received the stakes from losing wagers for event x.

Just want to note that if Bookie A owns the event and bookie B, C and F have added outcomes to that event, Bookie A will receive the stakes on losses regardless of who created the outcomes (not B, C or F). Only the OWNER of the event will receive stakes from losing wagers.

I wanted to keep this initial TRIAL as simply as possible and then go from there (based on feedback).

or actually is this?

 

[Bob]

this is what has been implemented.

Partially Implemented - Bookies bank all stakes from wagers placed on outcomes that do not pay out.

Marked as partially implemented as I've not yet fully implemented everything that I would like to do with this as well as what others would like to see as well.

There is a new Sportsbook General Option: Pay Bookies stakes from losing wagers. When enabled, bookies will bank all stakes from wagers placed on outcomes that do not pay out during the settlement process. This does not include outcomes that were pushed or wagers placed on any outcomes by the owner of the event (we are NOT going to give the bookie back his own losses as that makes absolutely NO SENSE!)

The Owner of the event (the Bookie) will receive ONE alert during the settlement process letting them know that they received the stakes from losing wagers for event x.

Just want to note that if Bookie A owns the event and bookie B, C and F have added outcomes to that event, Bookie A will receive the stakes on losses regardless of who created the outcomes (not B, C or F). Only the OWNER of the event will receive stakes from losing wagers.

I wanted to keep this initial TRIAL as simply as possible and then go from there (based on feedback).