Here are your faithful contributors Final Four picks from a few weeks ago:
J-Red
Oregon
UCLA
Georgetown
OSU
UCLA over Oregon
OSU over Georgetown
OSU over UCLA
Brien
Florida
Kansas
UNC
TAMU
Kansas over Florida
UNC over TAMU
Kansas over UNC
Russell (apparently has a sense of humor...)
Maryland
Kansas
Texas
TAMU
Kansas over Maryland
Texas over TAMU
Texas over Kansas
Jeremy
Florida
Kansas
Georgetown
TAMU
Georgetown over TAMU
Kansas over Florida
Kansas over Georgetown
So clearly, I'm the only one watching this weekend's games with a financial stake in the outcome. Unfortunately I apparently selected both underdogs, UCLA and OSU.
March 30, 2007
Revealing the Brackets
Summer is here and there's never been a better time to try your hand at online sports betting. Place your bets on your favorite horse with horse racing or even try your luck with your favorite football team. Enjoying sport is just a click away!
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12 Responses:
"I'm the only one watching this weekend's games with a financial stake in the outcome"
Not if bodog has anything to say about it...
J-Red... betting on sports??? That doesn't sound like the J-Red I know.
Well, I meant that Calvin Ayre and I might be exchanging funds this weekend, but it could be true of J-Red also.
And go easy on Russell, apparently PhD work has eaten up all of his college basketball watching time (and blogging time, and email time, and letting people know that you're still alive time). So it's not his fault that he has no idea what teams are good this year :)
It's not "betting". It's a parimutuel pool with no government take-out. One of which Jeremy is (technically) a part.
Parimutuel betting can have multiple winners whose take of the pot is proportional to their wager.
Unless your NCAA bracket pool is very exotic, it should just be called a betting pool.
A betting pool is just the simplest form of parimutuel betting. All entrants wager the exact same amount, and the entire pool is distributed amongst the winners. The payout is unknown until the pool is closed and the winner or winners are determined.
Wow... leave it to this group to turn a discussion on sports betting into big-time vocabulary words. You can take the boys out of Gemstone...
If you took all the boys out of the Gemstone, I don't think anyone would be interested in what's left behind.
OK, by that logic, a betting pool is not the simplest form of parimutuel betting. If you and I bet straight up on the outcome of a game, you would consider that parimutuel. We would each contribute a set amount of money which would be distributed to the winner(s).
No, actually that's not right. The key aspect to parimutuel betting is that the odds aren't fixed until the betting is closed. That means by definition there must be more than 2 participants and there must be an open-ended possibility of more participants joining up until a certain point. That's how a typical NCAA pool is parimutuel but a standard bet on a two-outcome (or three-outcome if a tie pushes) event between known participants is not.
Or there must be the possibility of more cash being infused if not more participants. That would not be logical in a two-person parimutuel setting because increasing cash investment on one side of the ledger only dilutes the profit without changing the risk of loss.
I see what you're saying, but I think the open ended odds are a necessary but not a sufficient condition for the wager to be parimutuel. From my reading of the definition, there has to be open ended odds and payouts in proportion to your wager (i.e. participants wager different amounts). You're picking one part of the definition of parimutuel and saying that's a sufficient condition.
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