How do you post Vbookie odds?

[someguy44]

oops... typo. Should be "How do you post Vbookie Odds?"

Hi. I just became a sponsor because I wanted to post odds for games, but I have no idea how. Is there an instruction thread on this or was this sent to my e-mail address?

If it was sent to my e-mail address, I wouldn't have gotten it because it was sent to my old e-mail address and I just updated my e-mail address after the fact that I became a sponsor.

Anyway, if anyone can help, I would really appreciate it. Thanks in advance.

J

[Buffaloed]

Here's a quick "how to":
Start a new thread in one of our two vBookie forums.


Title should be descriptive of the event including date & time. Put something in the body of the post, eg preview, a link to the odds, your pick... there has to be something there.



Scroll down a bit and you'll see "Post a vBookie Event" under Poll options. Check the box for "Yes, post a vBookie Event with this thread" , click the Submit New Thread button you'll be taken to the screen to set up your event.


Complete the fields: (example below)
Event Group: NHL, NFL, NCAA Basketball etc.
Event Title: use the same as your thread title which you can paste in from above
Number of Outcomes: default is 2 which is usually correct
Event Outcomes: fill in the team names, eg
Outcome 1: Pittsburgh
Outcome 2: Toronto

Fill in the odds:
You'll need to find an oddsmaking service for this part. You should do this before you try to post a new event. I use pointspread.com
For the example screenshot the url where the odds were found is
http://www.pointspread.com/liveodds/...1&getyear=2007

You'll see sets of numbers like this:
Toronto +110
Pittsburgh -125

The negative always goes on the bottom of the divisor. Positive numbers always go on top. So the odds would be entered as:

Toronto 110 to 100
Pittsburgh 100 to 125

If both numbers are negative then 100 is divided into each for the odds
eg:
Buffalo -112
Montreal -110

Odds would be entered as:
Buffalo 100 to 112
Montreal 100 to 110

Finally you have to make sure the time and date are correct. The date should be the date of the event, and the time should be the time it starts, so people can't bet when it's in progress :
"Accept Bets Until
This is the date (and optional time) up until which new bets are accepted."

Same as 'Accept Bets Until' date - box should be checked
Time Zone: should be the same as yours
Allow multiple bets on this Event: that's up to you

When done:

[Buffaloed]

Forgot to mention you have to settle the bet. When the "Accept Bets until" time is reached the event is closed. When the game ends tick the box next to the name of the winning team or if there's no winner the box for that just above the "Settle Bets" button. Make sure you get it right as settlements are final/

If you mess up you can click on the Abandon vBookie Event link on the top right to return all stakes. This can only be done before the event is settled.

[someguy44]

Thank you. I have another question.

This is the first thread I made: http://hfboards.com/showthread.php?t=335398

I don't know why there's a "F" after the 250/100. At first, I thought I typed that in by mistake. Then, when I checked it, it wasn't a mistake. Do you know why the "F" is there?

Another thing...

Since we're the house, shouldn't we be able to keep all lost bets? It's just a suggestion, but of course if this happens, the house (people who get to post these events) will always be the richest hf members here.

Anyway, thanks in advance.

[Buffaloed]

Originally Posted by someguy44

I don't know why there's a "F" after the 250/100. At first, I thought I typed that in by mistake. Then, when I checked it, it wasn't a mistake. Do you know why the "F" is there?

The "F" designates the favorite.

Another thing...

Since we're the house, shouldn't we be able to keep all lost bets? It's just a suggestion, but of course if this happens, the house (people who get to post these events) will always be the richest hf members here.

Anyway, thanks in advance.

It can be made to work like that but only in a very primitive way. It's problematic if the bookie doesn't have enough vcash to cover losses. It would need to be coded so that as each bet is made a query is run to reconcile the bookie's balance versus the maximum potential loss. If the potential loss exceeds vcash on hand the bet would be rejected. It would be quite a programming challenge, and even if someone coded it, it would put a lot of stress on the database server.

[The Head Crusher]

Hey guys.

Which the lock out in full swing we have been seen odds posted for many different leagues and that is all well and good, but we have one issue. The issue is that the odds that we are finding come from a system called 1X2, and this system presents the option to bet on if the game will tie (in hockey that means goes to a shoot out). Because of this third option the odds are often increased to represent a greater payout. Since we do not offer the chance to bet on the game going to a shootout we have to convert these skewed odds to the games have a more realistic odds. I am going to show you two ways to do this. First we will use this game as an example:

Team 1	Tie	Team 2
Oklahoma City Barons (2.3)	(4.0)	San Antonio Rampage (2.6)

Solution 1 (Most Realistic):

Use the following formula:

(Team/(TeamA+TeamB)*2-0.02) = Odds

OKC: (2.3/(2.3+2.6)*2-0.02) = 0.92 = 92/100
SA: (2.6/(2.3+2.6)*2-0.02) = 1.04 = 104/100

This is the formula that I use and it gives odds very similar to that which we would find from sites like Bodog and Pinnacle which is mostly used when we make NHL games. This formula makes it so you do not need to remove the 1.00 from the odds for the original bet, and also calculates a house cut of 0.04. The house cut can be edited or removed changing the -0.02 at the end of the formula.

Solution 2 (rough solution): If you are not a math major and just want to find a quick rough odds, you can just divide the too odds by themselves.

OKC: 2.3/2.6 = 88/100 (23/26) = 0.88
SA: 2.6/2.3 = 113/100 (26/23) = 1.13

It is not nearly as accurate to the official bookies, it doesn't calculate house cut and when there is a heavy favorite the odds payed out are unusually small for the favorite and extremely large for the underdog.