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Gina Sirober
Republic Military School Minmatar Republic
0
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Posted - 2015.05.09 16:06:55 -
[1] - Quote
Hey guys.
I have noticed something with the eve bet website.
Before i explain this id like to inform you i have been real life betting for 10 years since i was legal to do so in the united kingdom, and have worked in a betting shop within england. So i know what im talking about basically is the point there :D
Ill have to explain how normal betting works in order to explain to you how they are effectivley "skimming" their customers.
SO when you have any sporting result in a "money line" or a "head to head" situation, so say for example Giants vs Tigers.
If theese two teams are expected to face off and be completley even in the odds, the odds stack up as 10/11 or 1.91 on each to ensure a fair market.
Giants 1.91 vs Tigers 1.91
If all of a sudden the giants have been getting betted or something changes with the team lineups that favours the giants, Their odds will decrease and the tigers odds will increase, still ensuring that fair chance for both selections to be profitable for both the betting site or the bettor
IE Giants 1.8 vs Tigers 2.0
And so on and so fourth. now we have that out the way, id like to show you some very real examples of whats going on. Theese odds that im about to show you are consistant across multiple huge real money betting sites, but i will be using SKY BET as my main source here.
SO, sky bet has rugby league, Catalan dragons 2.375 vs St helens 1.72 (plus a third option of a draw) Eve bet has rugby league Catalan dragons 2.01 vs St helens 1.59
Sky bet has Basketball, Washington wizards 2.375 vs atlanta hawks 1.615 Eve bet has Basketball Washinton wizards 2.1 vs atlanta hawks 1.56
Sky bet has Ice hockey, Montreal canadiens 1.8 vs Tampa bay lightning 2.00 Eve bet has Ice hockey, Montreal canadiens 1.68 vs Tampa bay lightning 1.93
Sky bet has Baseball , Baltimore orioles 2.00 vs NY yankees 1.87 Eve bet has Baseball , Baltimore orioles 1.92 vs NY yankees 1.68
As you can see i have taken a broad range of sports but i assure you it is the same across the board on all their sports selections. While it is OK to have differing odds, If one selections odds are lower then the other side should directly counter act this and be higher. This is not the case, BOTH SIDES ARE LOWER
That is COMPLETLEY WRONG, you cannot do that and any real life betting website who trys to pull that **** would be shut down instantly. THEY ARE STACKING THE ODDS. Odds are allready in their favor. and even matchup is 1.91 vs 1.91 in ANY bookmaker unless they run some form of promotion, none of which has happened here.
This has not allways been the way, ive used eve bet for a long time, im currently posting from an alt to prevent myself from being banned from their site for exposing this. Eve bet has generally they have been very consitant and fair, but it looks like they have tried to sneek this in against the customers who have aparently bet "288,473,757,650,346" isk and counting.
BS eve bet. i will not be betting on your website untill you make it fair again. |
DaReaper
Net 7
2024
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Posted - 2015.05.09 16:34:23 -
[2] - Quote
1) no real money is involved
2) wrong forum
3) contact the site owner and complain
4) WRONG FORUM
OMG Comet Mining idea!!! Comet Mining!
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Chainsaw Plankton
IDLE GUNS IDLE EMPIRE
1105
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Posted - 2015.05.09 16:48:02 -
[3] - Quote
Sky is going to attract a much larger pool of bets, so overall their pool of bets is going to more accurately reflect the odds. I don't know how many people bet on eve-bet, but I'm guessing it is relatively small, thus the bets placed may not always reflect on the odds. So Eve-bets choices are either skew the payouts depending on what people actually bet, or offer odds that are inline with (but pay less than) Sky or Vegas odds, and make money over a large number of events, or otherwise run out of isk.
@ChainsawPlankto
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Memphis Baas
387
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Posted - 2015.05.09 16:56:18 -
[4] - Quote
Don't know anything about betting, but what you seem to be saying is:
1.91+1.91 = 3.82,
and if one side has an advantage then the betting site should take some of the points and give them to the opponent, so that
1.82 + 2.00 = 3.82 in a 1 vs. 1 competition the odds are still "fair."
From your numbers, EVE Bet seems to be doing that, only their total is 3.6 instead of 3.8 per game.
To me, and again I'm not an expert, that seems to say their cut is bigger by 0.2 compared to what Sky Bet is taking in. I don't know if I should assume 3.82 out of 4.00 or what, so not sure how the two sites actually compare percentage-wise.
Shrug. |
ISD Ezwal
ISD Community Communications Liaisons
4524
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Posted - 2015.05.09 16:58:24 -
[5] - Quote
This thread has been moved to Out of Pod Experience.
ISD Ezwal
Vice Admiral
Community Communication Liaisons (CCLs)
Interstellar Services Department
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Gina Sirober
Republic Military School Minmatar Republic
0
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Posted - 2015.05.09 17:04:59 -
[6] - Quote
Quote:Sky is going to attract a much larger pool of bets, so overall their pool of bets is going to more accurately reflect the odds. I don't know how many people bet on eve-bet, but I'm guessing it is relatively small, thus the bets placed may not always reflect on the odds. So Eve-bets choices are either skew the payouts depending on what people actually bet, or offer odds that are inline with (but pay less than) Sky or Vegas odds, and make money over a large number of events, or otherwise run out of isk.
Irrelevant and untrue, You are running a betting website, give fair odds. They know exactly what they are doing. . it has not allways been this way they just started when they have become as popular as they ahve ever been Pure greedyness.
Quote:To me, and again I'm not an expert, that seems to say their cut is bigger by 0.2 compared to what Sky Bet is taking in. I don't know if I should assume 3.82 out of 4.00 or what, so not sure how the two sites actually compare percentage-wise.
Which is exactly the problem. Skimming the price when the odds are allready stacked in their favor. Betting websites or shops will always win because the odds are in their favor. No need to screw over the punters via greed |
Pator Aumer
Vast Industries Inc
2
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Posted - 2015.05.09 17:08:21 -
[7] - Quote
So just because eve-bet are not using skybet's odds they are wrong?. And odds are not added together, they are multiplied. |
Gina Sirober
Republic Military School Minmatar Republic
0
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Posted - 2015.05.09 17:16:44 -
[8] - Quote
Quote:So just because eve-bet are not using skybet's odds they are wrong?. And odds are not added together, they are multiplied.
Did you read the whole post? Its not just sky bet, its every single betting site that values not being shut down. Allthough there are no official government rules and regulations with betting with eve isk (lol) , there ARE for all betting sites, which eve bet wants their reputation to be.. a proper betting site. Not a website that takes bets but screws you on the odds.
As i said, ive used eve bet for a while and ive never had a problem with their service, but this **** is not gonna fly with me and probly alot of other people who spend large sums of money on their sites. |
Pator Aumer
Vast Industries Inc
2
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Posted - 2015.05.09 17:20:24 -
[9] - Quote
Yes I read the whole post.
AFAIK evebet is the only sportsbook/betting site out there that wiil take EVE ISK?. I understand what you are saying that the gambling organisations make stupid profit anyways, let alone skimming from the odds.
However unless a competitor arrives I guess they will continue to do so? |
DuQu
Ministry of War Amarr Empire
0
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Posted - 2015.05.09 17:46:16 -
[10] - Quote
Different books have different profit margins - nobody gives "fair odds", else they'd make no profit. Eve-bet's are particularly terrible though, they run about an 11% margin. That's about as crap as it gets, but it's certainly not unique. A number of books in heavily some regulated European countries are abut that level, eg a lot of the French books.
A quick glance suggests they're using an Australian book Sportsbet.com.au as the source for their odds, with an additional 6.5% juice on each side.
Ultimately: don't like em, don't use em. |
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Gina Sirober
Republic Military School Minmatar Republic
0
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Posted - 2015.05.09 18:00:33 -
[11] - Quote
i wonder why they chose to up this recently. Gonna lose customers, hope they do, teach them a lesson. when i say "fair odds" ntw duqu thats taking into consideration that the 1.91 either way is still very much in the bookies favor. not expecting 2.1 either side ofc. |
Mr Epeen
It's All About Me
8503
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Posted - 2015.05.09 18:28:37 -
[12] - Quote
Gina Sirober wrote:
Before i explain this id like to inform you i have been real life betting for 10 years since i was legal to do so in the united kingdom, and have worked in a betting shop within england. So i know what im talking about basically is the point there :D
I have heard that in the U.S. they allow people to breeze through the education system while learning nothing. People who then enter the workforce with no ability to use common grammar, spell correctly, capitalize where necessary and use punctuation appropriately.
What I was unaware of was that the same sorry state exists in the United Kingdom.
I grieve for humanity and what it's becoming.
Mr Epeen
There are 86,400 seconds in a day. You just saved one of them by typing 'u' instead of 'you'.-á Congratulations, dumbass!
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GankYou
Redshield Holding Company
347
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Posted - 2015.05.09 21:06:00 -
[13] - Quote
The ratios may be different, but they are not dealing in real money, as the other services are not dealing in the ISK currency.
I feel this topic belongs in My Eve sub-forum.
...And They All Crave One Thing - ISK.
Nullsec Ore Changes - Lowend Mineral Price Tracking [2015]
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Bagrat Skalski
Poseidaon
8134
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Posted - 2015.05.09 21:45:07 -
[14] - Quote
I have won billions, and have never lost even one ISK with EVE bet, so I can't complain.
Custom ship skins | Since 2014 | Character creator style "repaint" | Bring back the dream
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Iongduck Dong
I Really Hate You Guys
0
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Posted - 2015.05.09 22:41:46 -
[15] - Quote
Bagrat Skalski wrote:I have won billions, and have never lost even one ISK with EVE bet, so I can't complain.
I have lost billions on Eve-Bet... But i don't complain.
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Khergit Deserters
Crom's Angels
4007
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Posted - 2015.05.09 23:57:59 -
[16] - Quote
Thanks OP, that's good info to know. So basically, Eve-Bet has higher profit margins on both the favorite team and the underdog.
But I don't see it as unethical or unfair, because: this is EVE. Buyer beware, etc. Maybe someday there will be a competitor offering a similar service with lower margins for the house. Until then, caveat emptor, all that. And besides, Eve-Bet donates prizes to so many little events around the EVE community that few people notice, I can't hate them.
You're trying to conquer me
You never will conquer me
-Delroy Wilson
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Daerrol
Quantum Singularities Half Massed
152
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Posted - 2015.05.10 01:51:05 -
[17] - Quote
Wait wait wait... someone in EVE is scamming!? |
Gina Sirober
Republic Military School Minmatar Republic
1
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Posted - 2015.05.10 03:51:45 -
[18] - Quote
Im not asking anybody to hate them. What they are doing is certainly incredibly unfair.
This is a new development, and it obviously did not need to happen as they have been operating smoothly for a long time now.
I just dont want anybody who will be potentially betting with theese people to be uninformed of just how stacked EVE BET has stacked the odds in their favor. its only right that people should know.
As a side effect of this i will not be betting with them untill they fix it. If anyone asked my advice on it i would recommend them not to. Its also your isk and you can do what you want with it. Things like this prey on the naieve and i dont like that . Especially when it comes to betting. |
Bagrat Skalski
Poseidaon
8135
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Posted - 2015.05.10 08:37:09 -
[19] - Quote
Quote:Things like this prey on the naieve We know they take a part, bigger than others, so what, is it unfair that its so big part they take? Its still not really honest way of earning ISK, because it involves hazard.
Custom ship skins | Since 2014 | Character creator style "repaint" | Bring back the dream
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Rain6637
GoonWaffe Goonswarm Federation
31446
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Posted - 2015.05.11 00:20:26 -
[20] - Quote
Whoa, eve bet does sports?
Help, I can't download EVE
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Jenshae Chiroptera
1722
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Posted - 2015.05.11 01:19:50 -
[21] - Quote
[ Smug high horse ] I don't gamble [ / ...
Who am I kidding? It never stops. =P
CCP - Building ant hills and magnifying glasses for fat kids
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High Sec needs a stepping stone to other areas of space, where they can grow
Fozzie is treating a symptom.
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EVE Bet Kryptyk
Eve-Bet EVE-Bet Alliance
5
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Posted - 2015.06.19 11:20:00 -
[22] - Quote
Chainsaw Plankton wrote:Sky is going to attract a much larger pool of bets, so overall their pool of bets is going to more accurately reflect the odds. I don't know how many people bet on eve-bet, but I'm guessing it is relatively small, thus the bets placed may not always reflect on the odds. So Eve-bets choices are either skew the payouts depending on what people actually bet, or offer odds that are inline with (but pay less than) Sky or Vegas odds, and make money over a large number of events, or otherwise run out of isk.
This man is 100% spot on. We have no where near the volume of betting a real place has. Nearly everyone on our site just bets on favorites, whereas in the real world heaps of people take a risk on the juicy underdog odds to balance it out.
We were reluctant to reduce them recently but it could not be sustained long term. Sports betting isn't guaranteed profit like the other EVE lottery sites who take a guaranteed cut of all their games. We win and lose as well and set the odds at a rate they gives us a slight edge to sustain the site.
Sorry we cannot offer odds as high as the RL betting sites like the OP wants. Maybe in the future we can raise them again. |
DaReaper
Net 7
2225
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Posted - 2015.06.19 19:48:45 -
[23] - Quote
To the OP:
This is EVE, if you do not like how someone is running their gambling site, then by all means, make your own, set your own odds, and see what happens.
Complaining about a service someone runs for the fun of eve players is dumb.
This is like going the Power company and complaining about there rates. You either pay the rates and get power, or don;t and get none. You also have the option to raise your own capital and start your own power company.
So again, either: Use the fake money betting site. Don;t use the fake money betting site. or.. Start your own fake money betting site.
OMG Comet Mining idea!!! Comet Mining!
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leonerdo
State War Academy Caldari State
0
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Posted - 2015.07.25 07:34:08 -
[24] - Quote
just spotted the same ****, someone linked me here accusing me of being you because theres no way two people could ever know that much about sports betting and make threads about it months apart from eachother without ebing the same person right? :D
Thankyou for explaining all this and i feel even worse about it now that according to you they havent always offered theese terrible odds but decided to get greedy and cut off the top.
Its a genuine risk for anybody who has a gambling problem. it makes their odds of getting hurt alot higher |
leonerdo
State War Academy Caldari State
0
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Posted - 2015.07.25 07:39:59 -
[25] - Quote
EVE Bet Kryptyk wrote:Chainsaw Plankton wrote:Sky is going to attract a much larger pool of bets, so overall their pool of bets is going to more accurately reflect the odds. I don't know how many people bet on eve-bet, but I'm guessing it is relatively small, thus the bets placed may not always reflect on the odds. So Eve-bets choices are either skew the payouts depending on what people actually bet, or offer odds that are inline with (but pay less than) Sky or Vegas odds, and make money over a large number of events, or otherwise run out of isk. This man is 100% spot on. We have no where near the volume of betting a real place has. Nearly everyone on our site just bets on favorites, whereas in the real world heaps of people take a risk on the juicy underdog odds to balance it out. We were reluctant to reduce them recently but it could not be sustained long term. Sports betting isn't guaranteed profit like the other EVE lottery sites who take a guaranteed cut of all their games. We win and lose as well and set the odds at a rate they gives us a slight edge to sustain the site. Sorry we cannot offer odds as high as the RL betting sites like the OP wants. Maybe in the future we can raise them again.
Im sorry but that is complete crap mr krptyk. the odds are stacked in your favor from the outset, i fully udnerstand the notion of not having a larger pool of bets so you are more apt to losing a chunk of capital in one swing, but you chose the scummy and greedy way of counteracting that instead of the RIGHT and FAIR way.
That ofc is lowering the amount somebody can bet in a single to better match your capital. Its not the bettors fault that you have a low capital, you cant just skimm the odds like that. its unethical and completley unfair.
I emplore ANYBODY who knows ANYTHING about making websites like this to make one and offer CORRECT ODDS. you will take their market share very very quickly and have a profitable business.
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Webvan
All Kill No Skill
11472
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Posted - 2015.07.25 07:47:00 -
[26] - Quote
leonerdo wrote:just spotted the same **** drugs are bad m'kay?
Ctrl+Alt+Shift+F12
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Jonah Gravenstein
Machiavellian Space Bastards
24478
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Posted - 2015.07.28 19:10:39 -
[27] - Quote
Mr Epeen wrote:I have heard that in the U.S. they allow people to breeze through the education system while learning nothing. People who then enter the workforce with no ability to use common grammar, spell correctly, capitalize where necessary and use punctuation appropriately. What I was unaware of was that the same sorry state exists in the United Kingdom. I grieve for humanity and what it's becoming. Mr Epeen Our universities in the UK often feel the need to run remedial classes in English and Math for some UK students that have "gained" grades good enough for entry, and have done so for at least a decade. Employers often find themselves doing the same for some school leavers who have attained grades deemed to be a pass.
Civilized behaviour is knowing that violence is barbaric, but paying other people to do it is business.
Nil mortifi sine lucre.
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