Sticky [FAQ] [QUESTIONS] Sportsbook / Events Betting

Discussion in 'Sportsbook' started by andrewkm, Mar 26, 2015.

  1. andrewkm

    andrewkm ECC Founder
    Server Owner Founder Premium User Wiki Team Sports Bookie

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    Basic Questions

    Q: How do I add money onto the forum?

    A: The Sportsbook and Bank on our forum operates using in game EcoDollars. In order to get money into your bank you need to have it withdrawn from your in game account and deposited here on our forum. To do this use the automatic "/bank deposit <amount>" and "/bank withdraw <amount>" commands in game. ("/bank balance" is also available).

    Q: Why aren't all the sports events listed from every day and every sport?
    A: The reason for this is how sports betting works. First of all there is no reliable (code/api) source to pull odds, lines, and scores from to add to the core functionality of this addon. Secondly pulling odds, lines, and information from domestic or international bookie websites (real life sports betting) begins to cross into serious legal complications, that's if they would even allow it, which they wouldn't. No bookie will ever offer his full time job of creating these events up for free to be pulled into third party areas. Simply put there is no way to do this, please don't suggest one, we will never approve it.

    Q: How do money line (ML) odds/betting work?
    A: Your very best bet is to google sports betting odds. Specifically "understanding money lines" I will however give a few examples below.

    Current Odds: 9/10 (0.90)
    This translates to [You win this]/[For every this] or [(1 dollar yields you this)]
    This means you win 9 dollars for every 10 dollars you bet.
    Another way to understand it is in the bracket. For every dollar you bet you win 90 cents.

    Example:
    You bet: 1000
    You will win: 900
    Total return: 1900

    Current Odds: 3/2 (1.50)
    This translates to [You win this]/[For every this] or [(1 dollar yields you this)]
    This means you win 3 dollars for every 2 dollars you bet.
    Another way to understand it is in the bracket. For every dollar you bet you win 1 dollar and 50 cents.

    Example:
    You bet: 1000
    You will win: 1500
    Total return: 2500

    Basically:
    If the number in the bracket is below 1.00 you make less than what you bet.
    If the number in the bracket is above 1.00 you make more than what you bet.
    If the number in the bracket is exactly 1.00 you make exactly as much as you bet.

    Q: What does the abbreviation ML mean?
    A: Money Line

    Q: What are Over/Under bets?
    A: Your very best bet is to google sports betting over and under. I will however give an examples below.

    Over Under bets depend on the sport. The most common is basketball. You are betting on the total amount of points in the entire game (overtime included depending on the sport). Hockey as well would be total points, while tennis for example would be total games played. It depends on the sport, if you are confused on a specific sports Over/Under structure please google it.

    Below is an example of an Over/Under bet in basketball.

    Example: Over 140.0 bet
    Outcome: Game had 144 points in total -> You win.
    Outcome: Game had 136 points in total -> You lose.
    Outcome: Game had 140 points in total -> You push, and get your money back.

    Example: Over 140.5 bet
    Outcome: Game had 141 points in total -> You win.
    Outcome: Game had 140 points in total -> You lose.

    If there is a half point listed as in the second example, there is simply no "push" available, you either win or lose.


    Q: What are spread bets?
    A: Your very best bet is to google sports betting spread betting. I will however give an examples below.

    Spread bets depend on the sport. The most common is basketball. You are betting on that team to win with a specific handicap. This is usually done when odds are extremely towards one side thus the team with a major disadvantage gets a handicap added (while the team with the advantage gets points taken away). It also depends on the sport, if you are confused on a specific sports spread bet please google it.

    Below is an example of spread bet in basketball. The game is Bucks @ Warriors.

    Example: Warriors -19 Spread
    Outcome: Warriors 120 - Bucks 115. -> You lose
    * 120 - 19 = 101 therefore the Bucks win as they have 115 points.

    Outcome: Warriors 140 - Bucks 115. -> You win
    * 140 - 19 = 121 therefore the Warriors win as they have 121 points.
    Outcome: Warriors 134 - Bucks 115. -> You push, and get your money back.
    * 134 - 19 = 115 therefore the Warriors and Bucks are tied as they both have 115 points.

    Example: Bucks +19.5 Spread
    Outcome: Warriors 120 - Bucks 115. -> You win
    * 115 + 19.5 = 134.5 therefore the Bucks win as they have 134.5 points.

    Outcome: Warriors 140 - Bucks 115. -> You lose
    * 115 + 19.5 = 134.5 therefore the Warriors win as they have 140 points.

    If there is a half point listed as in the second example, there is simply no "push" available, you either win or lose.


    Q: One of the event odds/lines you made are not fair in my opinion. I don't like them. Can you change the odds?
    A: Asking for odds/lines to change because you don't like them will never be approved. If you don't like the odds/lines please simply do not bet. This is how sportsbooks work. It is up to you to research, and find the advantage, and make the proper bets according to your outcome theories.

    Q: I can't watch a real life sport I bet on, any place I can get scores?
    A: I absolutely 100% highly recommend www.flashscore.com - If the sport/game is not on that website than the universe will come to an end. =P It should always be there!

    Q: I found free live streams online for one of the sports, can I share it?
    A: We do not allow sharing of any illegal free live stream links on EcoCityCraft. Do not use our services (forums/server/etc) to share these links. This is a banable offence. The only acception is absolutely "legal" free streams. (Such as for League of Legends / E-Sport events)

    Q: What does Handle mean on the event page?
    A: This is the amount that is currently bet on either the entire event / or the specific outcome by the public.

    Q: I have a question that has not been answered here.
    A: Feel free to ask it in this thread. You will either get a reply or both a reply and an addition to this sticky.

    Q: I found a bug with Sportsbook!
    A: As always please report this in our Help/Support forum section. If this is a potential exploit please pm a ServerAdmin or higher.

    Q: The event I bet on is over but I still haven't received my winning money.
    A: The events must be finalized by me. I am not always around. Please allow 24-48 hours for the event to be finalized after its finish. (And in rare scenarios longer).

    Q: The lines / odds with an event changed, what happens to my bet?
    A: If the line / odds change with an event before it begins but after your bet is placed, then you keep your original line / odd that you bet on of course. The new lines / odds will only affect the people who bet on it from that point on.

    Q: Does overtime count in my bets?
    A: This highly depends, overtime usually counts unless specifically stated that it is a regulation bet (or otherwise), or unless there is a draw bet available. Some sports are different however, for example with Soccer, overtime almost never counts for the bet in question. If you don't understand a specific bet be absolutely sure to verify with me before betting to avoid disappointment. Refunds will not be provided in the case of your misunderstanding.

    Q: What are "future bets"?
    A: Here you are getting major odds before the start of a specific season. For example with NFL you are betting who will win the championship (superbowl) that specific season. Betting closes when the season starts and all money is locked in until the season ends which is when the bets are settled.

    Q: I made a bet, but I didn't really understand what I'm betting, can I get a refund.
    A: You bet money on something that you had no idea about and were not 100% clear on? I'm sorry refunds are not provided for stupidity.


    Advanced/Professional Questions

    Q: Why are you using traditional UK fractional odds and not American money line?
    A: I feel your pain! There's nothing like good ol' American money line odds that were all used to. Unfortunately the addon currently only supports traditional UK fractional odds and American money line is not yet possible. You can however use http://oddsconverter.co.uk/ to convert for your own convenience. I have already spoken to the developer about adding American money line odds and he has stated that he will indeed ensure to attempt this in a future update.

    Q: Live betting =D?
    A: Do you truly believe that's possible on a Minecraft server? This requires more status updates than is possibly available to the general public. Unfortunately I am not a multi million dollar corporate owned sportsbook lol.

    Q: Where do you grab your game odds from?
    A: I get game odds / money lines from various sports books and adjust them as I see fit.

    Q: Total bets? Over/Under?
    A: During major events I will do my best to include these options for you guys as well so you have a wider range of betting possibilities. Keep in mind I add all events manually so doing this for every event would be an endless job. I will however do my best to include these bets for major events.

    Q: Parlays?
    A: Very rarely I will add Parlay bets. This means you choose various combinations of many different bets (I choose these combinations, you are not able to choose them yourself due to add-on limitations), and if you end up hitting them all, you win big! Absolutely do not bet on Parlay bets if you don't know what you are doing and what the bet is exactly about. They will rarely be explained and are intended for professional sports bettors only!

    Q: How much do you actually know about sportsbooks/sports betting?
    A: Far too much than any human being should ever know unfortunately. =(
     
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    #1 andrewkm, Mar 26, 2015
    Last edited: Jul 14, 2018 at 12:35 AM
  2. andrewkm

    andrewkm ECC Founder
    Server Owner Founder Premium User Wiki Team Sports Bookie

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    Opened this thread for questions should any arise.
     
  3. andrewkm

    andrewkm ECC Founder
    Server Owner Founder Premium User Wiki Team Sports Bookie

    Joined:
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    Added:

    Q: I made a bet, however I didn't really understand what I'm betting, can I get a refund.
    A: You bet money on something that you had no idea about/were not 100% clear on? I'm sorry, refunds are not provided for stupidity.
     
    #3 andrewkm, Feb 22, 2017
    Last edited: Feb 22, 2017
  4. andrewkm

    andrewkm ECC Founder
    Server Owner Founder Premium User Wiki Team Sports Bookie

    Joined:
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    Still open for questions.
     
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