Re: ARENA: some points of view

From: carl@gergo.tamu.edu (Carl Perkins)

Date: Sat, 17 Dec 1994 01:04:00 +0000

ldavid@utdallas.edu (Dave Larson) writes...
}I like this idea.  Does anyone else think that the betting is a waste of time?
}I just had two of my gladiators risk over 150 gold each  and only win 1
}gold each on the fight!  My third gladiator bet 9 on the same fight and
}also won 1.  What's the deal?
}From now on I think I'll only bet 1 gold per fight.

Since the betting is parimutual style, youcan't win any money (ither than the
minimum of 1, presumably) unless omeone bets on the other gladiator.  This
is because the amount bet on thge loosing gladiator is split amongst the
bettors who bet on the winning gladiator in proportion to the amount they
bet relative to the total bet on the winner.

This is why when Tazz fights Putz the Unknown (0-0-1) nobody ever wins
any noticable money - everybody bets on Tazz, nobody (or perhaps some
newbie or "last gasp about out of money and ready to retire" gladiator
who's only chance is to make a killing betting) bets on Putz.  At-or-near-0
divided amongst practically everybody is 0 (which may be bumped up to 1 on
the "if you win the bet you should get *something* theory)...

The only way to make money is to a) bet on the underdog in one of the rare
cases when a lowly (2-0-0) actually beats the (9-0-0) guy or b) bet on
fights where the opponents have similar records and hope you pick the right
one.  And it helps if you don't bet on a fight that runs Sat. or Sun. night
too, I expect, since it looks like relatively few people play on the weekends
and so there is relatively little betting going on, and therefore a lower
chance that someone is betting on the other guy to provide you with some money
to win.

--- Carl

References

Re: ARENA: some points of view
ajmor5@giaec.cc.monash.edu.au (Andrew Morrissey)
Sat, 17 Dec 1994 00:58:15 +0000
Re: ARENA: some points of view
ldavid@utdallas.edu (Dave Larson)
Sat, 17 Dec 1994 04:28:23 +0000
ARENA: some points of view
euaahg@eua.ericsson.se (Anders Hallberg)
Fri, 16 Dec 1994 13:06:21 +0000