Sports Book House Rules

[Shadow]

Mods, please make this a sticky.

These are the house rules of the PMC sports book and pop bet parlour. They are subject to change/addition as necessary, so check in every so often.

• Typographical errors: Typos will NOT be honored. Obvious errors in spreads (such as the +/- lines being reversed or not the same on each side of the bet) will be corrected upon discovery. Bets placed on the OBVIOUS typos will be deemed as being place on the CORRECT spreads.

• The first PMC member to point out publicly, by posting in the affected thread, of an apparent typographical error will receive a 'thank you' stipend from the bookie for pointing out the error.

• Individual bets CANNOT be refunded. All bets are final.

• All bets are locked in at the money lines as posted at the time of the bet. Money lines can change, but changes will not affect bets placed prior to the change. Point spreads will NOT change (since changing point spreads will change previously places bets in vBookie), so money lines will change when instances of changing point spreads becomes apparent.

• Place requests for bets in the request thread only, please. This helps keep the board uncluttered.

• The bookie reserves the right to close ANY bet at ANY time for ANY reason, WITHOUT QUESTION.

• Errors in settlement: Occasionally, the bookie will settle the wrong side of a bet (after all, he is human). In such a case, a moderator will take manual action to correct action by removing the chips from the losing bettor's bank and paying off the winning bettors. vBookie does not allow the bookie to reverse or otherwise alter the outcome of an already-settled bet. Please note, bets placed anonymously cannot be seen by ANYONE and as such, cannot be corrected when an error is made.

• The decision of the bookie is final.

• The bookie will NOT spread any action on events involving PMC users. This includes Mavens, Heads Up Poker Challenges, Chess events or any other events where the users of PMC are contestants.

Spread betting

• Betting done in relation to a line or spread. Such as Pittsburgh -6 or Detroit +3. This means that Pitt must win by more than 6 to win the bet or Detroit can lose by less than 3 and still win the bet. Most lines will have a spread that includes a 1/2 point so that there won't be any pushes.

• Ties with the spread are a push and bets are returned.

• Football and Basketball are generally bet with spread betting

• A line might be expressed like this: Detroit +3 -110. What this means is Detroit is getting 3 points and you bet 110 to win 100 (see money line, below). The 10 difference is the book's vig, or charge, for booking the bet. You get the full amount of the bet back if you win, including the vig.

Money line betting

• In general, this is a "pick the winner, straight up". Lines are usually express such as Cleveland +240 or De La Hoya -330. For + sides, you bet 100 to win the amount in the line, this means that if you bet 100 on Cleveland, if Cleveland wins outright, you win 240, plus your 100 back. For - sides, you bet that amount to win 100, this means if you bet 330 on De La Hoya and he wins, you get your 330 back, plus win 100.

• Sometimes, especially in Baseball and Hockey, there may also be a spread involved with money lines

• Money lines are most common with fights, baseball, hockey, and low-scoring sports.

Other odds

• Prop bets and other wagers may be express as simple odds, such as 2:1 or 9:5. The first number is the amount you win if you bet the second number. As with other bets, the amount you bet is returned, plus the win, if you win the bet.

• These type of odds are common for futures betting, bets with multiple possible outcomes but only one winner, etc.

[Gerdass]

I'll throw some Banker rules in here as well.

Quads has graced me with a small bankers roll for loans.

Here are the terms.

Immediate or quick loans will be limited to $20K per individual.

Due to the size of the funds I have immediate access to, all loans larger than that must be submitted to me in advance (at least 2 days) of the time you would need the loan, and it will have to be reviewed and submitted for additional funding through the Federal Reserve (Quads). Be prepared to submit the purpose of the loans, expected repayment, and possibly a co-signer depending on size and past experiences.

Larger loans are subject to fees and rates that vary (either higher or lower) depending on size and credit risk

All loans will have an immediate 5% fee due.

After one week, an additional 5% will be added. And 5% will be added each week after (at a compounded rate) on all outstanding principal and interest balances.

There will be no established payment plans. They are single pay.

Loans will be sent for collection after 2 weeks time through Syklopz, and will continue to accrue interest. Payment plans could be worked out at that time if necessary.

Any individual sent to collection at any point will lose the ability to receive loans for a minimum of 1 month after the funds are repaid. Other penalties, ridicule, and sentences will apply.

Any questions, PM me.


Sincerely,

Gerdass
PMC Banker

[wyatt880]

Online betting for fake chips is rigged.

[Shadow]

Hey, Gerd, let me know when you need a banking bailout package.

[Gerdass]

Originally Posted by Shadow

Hey, Gerd, let me know when you need a banking bailout package.

Probably around the first time ZZ takes out a loan.

[Quads]

Good foundation to start from.
I've clean up the thread to kill the OT banter and keep the thread on the two "rules" posts.

[Wedge Rock]

Originally Posted by Shadow

Mods, please make this a sticky.

Typographical errors: Typos will NOT be honored. Obvious errors in spreads (such as the +/- lines being reversed or not the same on each side of the bet) will be corrected upon discovery. Bets placed on the incorrect spreads will be deemed as being place on the CORRECT correct spreads.

IMHO, bets placed on incorrect spreads should be canceled, not deemed as being placed on the reverse.

If I see the Lions *giving up* two touchdowns to the Colts this weekend, I am putting everything I have on the Colts plus the points... If you have the line backward and it really should have been the Colts giving up the points... Well, I still probably take the Colts minus the points. But the point is, is it fair for you to assume I'll make the opposite bet?

Originally Posted by Shadow

Individual bets CANNOT be refunded. All bets are final.[/list]

Perhaps this is the reason for the rule quoted above?

[Shadow]

Pretty much. I have to make a choice, list each game/bet individually (as I did at the very beginning), or make a concession when I can't cancel an individual bet. The system doesn't allow me to abandon part of a bet. I'd have to abandon the whole thing and start over. So it was easier just to make the rule as I did. What this means, really, is that if someone has a question about a line, rather than pound the error thinking they'll get a big payday, they should ask if it's wrong. I also put in there that the first person to point out an error will get a payment for doing so. I gave JP 5k points for pointing out the last one, that everyone nailed him to the wall for (LSU/Troy).

Simply put, if it's a typo, it will be corrected. Putting in a line backwards is just that, a mistake/typo. By all means, exploit odds/lines that are exploitable. But typos have to get corrected, not exploited.

[Wedge Rock]

As long as everyone knows the ground rules in advance... Caveat emptor.

[SVTF]

This shit is rigged - Thats all I have to say.