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DenverChief
04-22-2008, 05:27 AM
With only four days to go before the draft, just wanted to remind everyone that you can place your bets on who the Chiefs will draft @ #5 in the first round in the Sports Betting area of our very own Chiefsplanet...get in on the action there is over $3500 in bets already placed on various players...oh and I have the daily MLB games and NHL/NBA playoff games up for 04/22/08...Also if you have any suggestions, a game you would like to see put up for betting or a particular wager (i.e. over/under for a particular game) you can post in the ***Sports Betting*** thread or shoot me a PM...GOOD LUCK!

Dartgod
04-22-2008, 06:45 AM
I am also a moderator on the sports betting, so if you need any help running that, let me know.

DenverChief
04-22-2008, 06:48 AM
I am also a moderator on the sports betting, so if you need any help running that, let me know.


Sweet....will do and thanks :) bTW did you put down any of that $2700 ? :p

patteeu
04-22-2008, 06:56 AM
What's the payoff? Are they all even bets?

Dartgod
04-22-2008, 07:03 AM
What's the payoff? Are they all even bets?
The sports pool works as a pool, so all the money bet goes into a pool which is divided amongst the winners. If outcome "A" has 150 bet on it, and outcome "B" has 250 bet on it there is 400 in the pool. If outcome "A" wins, and you had put the entire 150 in, you would win the entire 400. If you had bet 50 of the 150 you would get back 50 / 150 x 400. Or a 3rd of the pot, as you had placed a 3rd of the bet on the winning outcome.

Payout on the event is always 100% of the pot, divided amongst the winners based on the portion they put in, so there are no fixed odds or odds entered. So if no one bets on the loosing outcome, return is exactly what you put in. On the otherside if someone bets 1 on the winning outcome, and others had put a total of 5000 on the losing outcome, betting 1 gives you a 5001 return.

Dartgod
04-22-2008, 07:04 AM
Sweet....will do and thanks :) bTW did you put down any of that $2700 ? :p
Thinking about it. :hmmm:

DenverChief
04-22-2008, 07:06 AM
What's the payoff? Are they all even bets?

payoff is determined by how much is bet...there are rules in the sports betting section that explain it pretty well....it is player v player there is no "house" so the more money that is wagered the bigger the payoffs...no limits....I picked up $447 on the Philadelphia/Detroit game the other night $960 was bet for Detroit to win and $45 for Philly $20 of which was mine so I got almost exactly half of that pot

tmax63
04-22-2008, 07:07 AM
Have you been officially appointed the Planet Bookie yet? If not then let me be the first. And a good bookie would lay off at least 10% just for overhead. And I was under the assumption that you are in law enforcement. Tsk,tsk, tsk....

DenverChief
04-22-2008, 07:11 AM
Have you been officially appointed the Planet Bookie yet? If not then let me be the first. And a good bookie would lay off at least 10% just for overhead. And I was under the assumption that you are in law enforcement. Tsk,tsk, tsk....

LMAO...SHHHH!


oh what you need a cut too now?....:cuss:

DenverChief
04-22-2008, 07:19 AM
The sports pool works as a pool, so all the money bet goes into a pool which is divided amongst the winners. If outcome "A" has 150 bet on it, and outcome "B" has 250 bet on it there is 400 in the pool. If outcome "A" wins, and you had put the entire 150 in, you would win the entire 400. If you had bet 50 of the 150 you would get back 50 / 150 x 400. Or a 3rd of the pot, as you had placed a 3rd of the bet on the winning outcome.

Payout on the event is always 100% of the pot, divided amongst the winners based on the portion they put in, so there are no fixed odds or odds entered. So if no one bets on the loosing outcome, return is exactly what you put in. On the otherside if someone bets 1 on the winning outcome, and others had put a total of 5000 on the losing outcome, betting 1 gives you a 5001 return.

what he said

patteeu
04-22-2008, 09:52 AM
The sports pool works as a pool, so all the money bet goes into a pool which is divided amongst the winners. If outcome "A" has 150 bet on it, and outcome "B" has 250 bet on it there is 400 in the pool. If outcome "A" wins, and you had put the entire 150 in, you would win the entire 400. If you had bet 50 of the 150 you would get back 50 / 150 x 400. Or a 3rd of the pot, as you had placed a 3rd of the bet on the winning outcome.

Payout on the event is always 100% of the pot, divided amongst the winners based on the portion they put in, so there are no fixed odds or odds entered. So if no one bets on the loosing outcome, return is exactly what you put in. On the otherside if someone bets 1 on the winning outcome, and others had put a total of 5000 on the losing outcome, betting 1 gives you a 5001 return.

Great description. Thanks to both you and DenverChief for explaing it. :thumb: