🏅 Top traders

Yo @YE2 and @higherLEVELING seems you’re unaware of how it works: the top 5 will get 20% payout each, so any bet above that is a guaranteed money loser. But thanks for the free mana! :)

@deagol yeah. im a newb. i didnt even realize it was top 5 for awhile,
so what's the correct way for this to work? is it bet on 5 options evenly?

@higherLEVELING I think if you hold any that’s above 20% you can sell some until it’s below, before the other bagholders do it first. Then bet your preferences scaled down to 20% representing 100% probability.

@deagol So for example, one might assume the 4th and 5th ranks (40% total) are up for grabs among 3-4 maybe even 6-7 names, so allocate that 40% among those gradually. Unless you have confidence or insider info in one of the dark horses for the final stretch, you might lean more on them, but no higher than the max 20%.

@deagol oh ok i think im starting to understand. is the percentage that is showing, is that what my bet is, or is that including everyone else

@higherLEVELING ah well it’s a bit more complicated than that. The dynamic parimutuel market mechanism is a bit unintuitive as the payout isn’t fixed. But essentially you’re buying a share of the pot of all bets. Also I think the last bettors have an advantage as they have more certain info and can steal away from your bet even if your info was good.

I think the percentage shown is the fraction of the pot of all bets that has gone to each choice, so yes including everyone else. So, if for example you think YE will be top 5 and pay off (currently 9%) that would pay out 20% so that’s a bit over 1:1 odds on the margin, but can’t bet so much that the resulting % goes above 20% after your bet. Hope it helps!

@deagol whats with the bets being in chunks when trying to sell.. instead of being able to use the slider and sell like that. i have to sell the whole lot. when i purchase more, it adds on right? or do i have to sell off and start a new. . a bit more confusing that i thought.

@higherLEVELING you can add them and sell them as you go, I like to keep a clean book so I sell and buy back whenever I want to adjust. But maybe risky as someone could cut in as I do it and steal my odds.

@deagol does this make sense.. add all the previous bets for that option together. find out each total. then just make all balances the same. would that work to make everything evened out for me?

@higherLEVELING don’t think that evens it out as others have made different bets. I think adjusting each chunk might be easier, maybe trying with smaller chunks first? Seems we’re getting there somehow.. oh I see YE just bet again hmm

@deagol ok i see. ok. wait, so i should just add on more to even the overall out.

@higherLEVELING sometimes add, sometimes delete. Again I wouldn’t even it all out as info will change over the next 10 days. The 5th rank is still wide open and even the higher ones could change with a big bet gone bad from any of those users.

One thing, on your book of bets where it says “payout if chosen” you gotta divide that by 5 (or do the 20%). So these bets are not that big a payoff as you may think from looking at the book, just 1 or 3 mana gain but 20 and 40 at risk.

@deagol oh ok now i see why keeping it neat and clean is better. my books are all over the place

@deagol Bro I got no idea on how to do these things the right way, I’m just buying anything I like. I ain’t thinking for more than 10sec if I’m buying sth or not.

@YE2 fine with me bro 👍

@deagol UwU

Less than 2 weeks remaining! @higherLEVELING and @RSWats are in a fierce competition for #1, with @YE2 , @AkaJusten , and @Zegarat on #3-#5, but @xCrimson , @Len , and @Samin are pretty close too!