Silk Road forums
Discussion => Newbie discussion => Topic started by: lexdysic on August 20, 2013, 01:15 am
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Hello fellow road journeyers. I am new to this wonderful realm and have a few purchases under my belt and want to start by saying this is a great community and wish you all the best :)
Here is my idea that I've been pondering for a while. With the American football season starting and also other sports as well for all of our international friends, I feel that maybe there could be a vendor interested in taking in the action. I surely would sponsor myself but sadly I lack the capital to initiate this idea. But here is what I thought of:
The week before a game starts a vendor would advertise which games they would take bets for including the odds and types of bets (i.e win/loss, high/low, parlays, point spreads, and pretty much anything your creative can think of). Now customers can place bets with how much they wish to spend (limits set at vendors discretion) and their type of bet. Now before the game starts all betters will finalize their bets in order to prevent cheating such as betting during the game for a team with the lead. Once the game is over the vendor will send winnings to bettors account and for the losers, well... maybe next time :) Now I know the FE is a little shaky and there will be some trust issues. Hopefully there will be a method to guarantee everyone is taken care of, both vendor and bettor.
If vendor adjusts the bets with the odds properly and is not the risk taking type, they are guaranteed to to make money regardless of who wins or loses. This is possible by taxing (i.e juice) the bets. The vendor takes 10% of the bets. I will give an easy example just in case my wording isn't clear:
a bettor places a 1BTC bet on a win/loss game with 1:2 odds and hooray they! After the juice their payout comes to 1.9BTC. makes sense, right?
Now I want to see what everyone's opinion is on this matter. I am happy to take any criticism and answer anyone's questions on betting. Also, as I stated earlier with my lack of funds for this type of business venture. If anyone is willing to take forth this opportunity and need a numbers man,I'm for hire :) I'm a big science nerd and will to calculate odds for bets and payoffs, organize the bet book, and any other statistical number crunching needed.
Let me know what everyone thinks and best wishes! Much love to all!
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ttt
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Lol this is crazy great minds think alike ;) i would +1 you again but i have to wait a few days. I offer exactly what she is talking about if any of you are interested.
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LV hows the feedback and what services do you broker through or are you taken bets personally?
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LV hows the feedback and what services do you broker through or are you taken bets personally?
I take them personally utilizing SR's escrow system. I have immaculate feedback with over $1000 in payouts in the first two weeks. I also have video poker and a roulette wheel (a real one) right here on SR.