vBookie Introduction & Instructions

[Jeremy]

Please note that only Moderators may start a betting event but all members can place bets. The below instructions are mostly for the benefit of the moderators at this time.


Introduction

vBookie is a 'bookmakers' or betting extension for CycloneFanatic. It enables authorized members to post Events and Outcomes that forum members can bet on with 'virtual cash'. Each Outcome has its own set of odds, and odds can be modified through the life of an Event (bets that are placed are stored with the prevailing odds, so even if the odds change, the users are paid at the correct rate).


Adding a new vBookie Event

vBookie Events are tied to threads in the forums. This makes it convenient for members to discuss the Event and their bets in the same manner as a poll.

To create a new vBookie Event, simply add a new thread as normal, and select the 'Post a vBookie Event' checkbox on the Post New Thread page (lower portion of Post New Thread page where other posting options are listed). You can add some detailed explanations of the event you're offering and the various outcomes in the thread Message, then press Submit New Thread. This will post the thread and then take you to the vBookie New Event page.

Note that you cannot post a vBookie Event and a Poll on the same thread at the time, but you may later add a poll to an existing vBookie Event thread.


The 'Post a vBookie Event' form has various items that you must complete. These are:

Event Group
Use this field to specify in general terms what area the Event falls in to. You may be as vague about this or as specific as you wish. It's just additional information that can help the forum members understand what they are betting on. For example, if your Event Title is 'World Cup', then the Event Group might be 'Cricket', 'Football', 'Karate' etc. Other examples of more specific groups are 'Soccer World Cup 2007', '2007 Oscars' etc.

Event Title
This is the actual 'thing' that people will bet on. It might be something that covers a set of other events (e.g. '07/08 English Premiership Winners', 'Most Gold Medals at Athens Olympics') or something very specific (e.g. '2007 Iowa State vs. Iowa MBB', 'Colts vs Patriots').

Number of Outcomes & Event Outcomes
This is the number of potential outcomes that you are going to offer for people to bet on. You must provide at least 2 outcomes (on the logic that a single outcome means a certainty, therefore not something that one can bet on). There is no built in limit to the number of outcomes that may be offered. Bear in mind that more than one outcome is allowed to win. While this may seem odd at first glance, it makes sense because it allows you to specify a set of possible outcomes as follows.

Imagine you are setting up a football match-up. You might offer the following outcomes:
Iowa State to win
Opponent to win
Iowa State to win 14-7
Iowa State to score first

As you can see, there are some general outcomes, and some more specific ones. If the match ends with the opponent scoring first and winning, then only 'Opponent to win' would be a winning bet. However, if Iowa State scores first and wins 14-7, then three outcomes would pay out as winning bets; the general 'Iowa State to win', the more specific 'win 14-7', and also the bet on 'Iowa State to score first'. Forum members who have bet on any of those three items would collect winnings.

Odds
You must also specify the Odds for each outcome. Odds are a measure of how much someone will win if they bet on that outcome. Odds of '10 to 1' mean that there's a one in 10 chance that it will be the winning outcome, and for every 1 that someone bets, they will be given 10 back in winnings. Odds of '2 to 5' mean that for every 5 bet, a person will win 2. So if he bets 100 at odds of 2/5, and wins, he will get 140 back (his 100 stake, plus 40 in winnings). If a bet wins, the stake is also returned. If a bet loses, the stake is lost.

Ideally, you should specify realistic odds. You can get an idea of the odds for various events be checking up with online bookmakers.

Accept Bets Until
This is the date and time up until which bets on this Event will be accepted. You will normally set this to a time before the Event actually starts, but for longer running Events it could be a time part-way through the Event. For example, for a single soccer match you might accept bets up until its 3pm kick-off, but for the Soccer World Cup you might accept bets up until the start of the knockout phase.

Bets Paid After
This is the date after which bets should be settled. This will be a time after which the outcome(s) will be known, so the bet administrator can determine which outcomes are winning outcomes. This might be as short as 2 hours after the Accept Bets Until time in the case of a basketball game, or could be weeks after the Accept Bets Until time in the case of the Soccer World Cup. This date should be specified so that a bet that hasn't been settled can be flagged up and either settled or abandoned.

Time Zone
Bets are placed into the database in GMT/UTC form. You should make sure that you specify the correct time zone for where you live when you are setting up a new Event. The Time Zone list should default to the time zone you have specified in your forum settings, and it will take into account any daylight savings time that may be in effect.

Allow multiple bets on this Event
By default people can bet on an Event more than once. They could bet on every Outcome if they like. By clearing this box, users can only bet once.

To Submit
When you have specified all the information above, you can either Submit the event or Preview it. Previewing gives you a chance to double check that everything looks correct before you submit the event. Once you are happy, Submit the event and you will be taken back to the Event's home thread.


Placing a Bet & Controlling an Event

To place a bet on a vBookie Event, you first view the event's thread. You can determine which are betting threads either by the thread icon, or the text 'vBookie:' in front of the thread title in the thread list.

Upon viewing a thread with a vBookie Event attached, you will see the Event panel at the top of the thread.

If the Event's pay out time has been reached there will also be a reminder that the bets should be settled, and there will be checkboxes beside each potentially winning Outcome. This is only shown to the Event's owner or members with permission to edit other persons' Events.


To Settle Bets...

To Settle bets, you simply tick one or more winning options, and then click the Settle Bets! button. If there are no winning outcomes, you should still settle the bets, but must also tick the box to say that you really meant to settle the Event with no winners.

Once settled, an Event will display the 'Event Over' panel'.


Abandoning a vBookie Event

Sometimes it may be necessary to Abandon an Event. This might be because the Event never took place, or something disrupted it, or because there were errors in the set-up of the bet and people have already bet on it. When an Event is abandoned, all stakes are returned to the people that placed the bets.

To abandon an event, click the Abandon vBookie Event link. You will be asked to confirm that you really want to abandon the Event. Click Yes to abandon it, or the Back button of your browser to return to the Event's thread.


The vBookie Main Page

As well as the thread display, vBookie provides a separate page to track all betting-related activities. You can access this by clicking the vBookie link in the forum navigation bar. This acts as an easy way to see any events that are open and available to bet on, and also enables users to check the status of their own bets. There is also a page of statistics information for the whole bookmakers system.

The default page shows all OPEN Events that are accepting bets

The 'Your Bets' page shows status information on your bets