betting odds mechanics.

[hornedturtle]

the betting system seems to be broken to a degree. the prize you receive for winning the bet is not based on how much you bet, but rather how much someone else bets. you will notice this at the start when you place a bet, you may be at +100, but as soon as someone places a 2.5k bet it may jump to +1-2k. take for example my last race. I bet $100. someone else bets 2.5k. I profit $1980, where as in a similar circumstances where I have bet 2.5k, I would only gain less than $100...on occasions even loose money.

I haven't done any controlled testing, but if I'm right your worse off placing a higher bet than you are a higher bet.

 

can anyone confirm this?

[dingodile_r89]

the betting system seems to be broken to a degree. the prize you receive for winning the bet is not based on how much you bet, but rather how much someone else bets. you will notice this at the start when you place a bet, you may be at +100, but as soon as someone places a 2.5k bet it may jump to +1-2k. take for example my last race. I bet $100. someone else bets 2.5k. I profit $1980, where as in a similar circumstances where I have bet 2.5k, I would only gain less than $100...on occasions even loose money.

I haven't done any controlled testing, but if I'm right your worse off placing a higher bet than you are a higher bet.

 

can anyone confirm this?

My odds always drop to 2/5 whenever I bet $2500, regardless of what others bet.

 

Except this 1 time, where I actually got 20/1 odds for a $2000 bet back in November for a 16 player Route 68 GTA type race with sports classics.

 

Good winnings, those

[hornedturtle]

so having a higher investment seems to always end up in you winning less money on most occasions? I'm not sure if they've changed the betting system since launch.

[CappyRoman]

I don't understand why its based on other people's bets. just give me the odds of me winning against the other race participants, and I'll bet on myself based on those odds or not.

[MrYoungGun]

It is a stupid system, there's little incentive to bet more than a hundred since your winnings are totally based on what others bet. If someone else bets 2500 youre going to win just below that regardless if you bet 100 or 2500.

As much as i defend Rockstar for the cash cards and high prices this system is clearly set up to take advantage of dumb players.

[vipprimo]

so having a higher investment seems to always end up in you winning less money on most occasions? I'm not sure if they've changed the betting system since launch.

 

Wow, that's nuts! So effectively the more money you put on a single person the weirder the numbers get and you could actually lose money! Why does this not shock me?

 

Does anybody know how it works in real life gambling places?

 

I think it would be cool if we could spectate and bet on races from other players, seeing which cars they picked and their win/loss. We could watch the race and hoot about who would win and get inside info, etc. It would be awesome.

[redpoint]

And we wonder why these guys struggle to add a casino DLC....

[MrYoungGun]

In real life like horse racing its based on the total amount being bet on each horse. The favorite always has the most bets placed on them therefore they have the lowest odds and you might have to bet 50 just to win 20 if the odds are 2/5. Longshots have the worst odds because nobody expects them to win and they're often 99/1 since nobody puts money on them. This is how it should be in gtao, the player with the best record should be the favorite and thereby have the worst odds. A level 10 in a custom super car race with a record of 1 win and 10 losses should be the long shot at 99/1. But of course we all know players would purposely exploit this system and use it to make easy money so it can't be that way.

[Kid SixXx]

It is a dumb system. Most crews farm money by letting the longshot win the race after they bet the empire on him.

 

People familiar with pro wrestling terminology should be familar with the concepts of jobbing out and putting over

Edited July 11, 2014 by Kid SixXx

[MrYoungGun]

And we wonder why these guys struggle to add a casino DLC....

Youre correct sir

[Wildfire_08]

the betting system seems to be broken to a degree. the prize you receive for winning the bet is not based on how much you bet, but rather how much someone else bets. you will notice this at the start when you place a bet, you may be at +100, but as soon as someone places a 2.5k bet it may jump to +1-2k. take for example my last race. I bet $100. someone else bets 2.5k. I profit $1980, where as in a similar circumstances where I have bet 2.5k, I would only gain less than $100...on occasions even loose money.

I haven't done any controlled testing, but if I'm right your worse off placing a higher bet than you are a higher bet.

 

can anyone confirm this?

 

I assume it makes sense to them on their side, but from a player standpoint I also bet max money on myself, & the odds are always in my favour like 4/5 on. So If I put $2500 down on myself, I get $2000 for winning (Maybe assuming others bet over the $2500 mark). But I always seem to win only $1000.

 

Maybe its because others do not bet the amount required for the payout of my bet? So instead of betting the $2000 it would take for my bet to fully payout, they are only betting $1000?

 

Personally it should give you the following options imo:

 

- Choose bet amount

- Max Bet

- Pink Slip

 

& If you bet money, it should ALL get pooled & the winner should either win all of it OR a % of it along with 2nd and 3rd place?

 

So for instance if the total pooled bet money = $10,000

 

1st place gets says 60%, 2nd place gets 30% & 3rd place gets 10% of the overall winnings

 

So itd be:

 

1st = $6,000

2nd = $3,000

3rd = $1,000

 

I am talking only about bet winnings, not the race winnings. But essentially it would work in a similar way to the race winnings but the difference being that the total pooled bet amount will always be different dependent on the amount players put in.

 

So a race with 10 people all placing bets of $2,500 could be very lucrative if you're in the top 3.