Waaaay2Serious Punters order of betting

Discussion in 'On the punt' started by Bearfly, Sep 22, 2012.

  1. Bearfly

    Bearfly Moderator Staff Member

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    @Owen - no probs mate, congrats & all the best for your big day, hope it's a great day for you and your bride :)
    I can slip you in for a quick punt today or tomorrow if you want to get a shot in before yournuptials mate, just say the word and it's done :D
     
  2. Owen

    Owen Well-Known Member

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    Thanks Bear, but it will have to be when I get back. My time is severely limited, all I seem to be doing is making lists of stuff we need to have done!
     
  3. TheOnion

    TheOnion Member

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    Punt Club site still down for me...I have tried unsuccessfully 3 times this week to get on, so no idea what is happening. Do we have new betting order out yet anyone ?
     
  4. Len

    Len Cockburn Knightrider Staff Member

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    I hate upgrades...... Esp when people take a beta and make it alpha by changing the name, kinda like puntclub site....... I can log in but I get a 500 error and a lame assurance some one will be in trouble for it when I try to post..
    so Here be the post, it wasn't even all that awesome really, such an effort for so little information.
    Tomorrows race fields hold no excitement for me at all and whilst I will be at the races on Saturday dealing with betting assignment swaps and the rest sounds like a chore so I am happy to wait until sunday or Monday thanks mate
     
  5. Bearfly

    Bearfly Moderator Staff Member

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    Lenh191 wrote:
    I hate upgrades...... Esp when people take a beta and make it alpha by changing the name, kinda like puntclub site....... I can log in but I get a 500 error and a lame assurance some one will be in trouble for it when I try to post..
    so Here be the post, it wasn't even all that awesome really, such an effort for so little information.
    Tomorrows race fields hold no excitement for me at all and whilst I will be at the races on Saturday dealing with betting assignment swaps and the rest sounds like a chore so I am happy to wait until sunday or Monday thanks mate Hey Len, I must admit that I have regularly come up against the same error message quite a few times since the site re-opened with the new interface. However, I have found that the error appears to be directly linked to the size of the message you try to post - several times I have just shortened the original post and it works (that's why you'll see me post something, then add the extra bits I couldn't fit in one or more comments following the post)!!!
    As for timing of your 2nd shot, I will slot you in on Sunday mate :)
     
  6. Bearfly

    Bearfly Moderator Staff Member

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    Hey there fellow W2SP members. [span style='font-size: 14px; line-height: 1.3;]I thought I would post this here as the PC commentary box has a limit to the size of comments you can post there!!!
    Both Weazel and Bucko have put forward proposals/suggestions that are worthy of consideration/discussion.
    #1 - Bucko proposes we raise the bet% from the current 75% up to 100% #2 - Weazel proposes that the rostered punter be able to re-invest any of their winnings during their turn in the hot seat
    Personally, I like the fact that both Bucko & Weazel have been bold enough to put forward these proposals (I reckon we've all had the same thoughts over the first 4 months of our club's operations)!!! However, I thought I should explain first how our daily betting allowance is calculated before mentioning some pro's and con's for both proposals.
    The daily betting allowance is based on the total monthly contributions from club members (contrary to what I & most of us thought when starting this club), and calculated using the following formula - TMMC (Total Monthly Member Contributions) x Bet % (Club Bet % Set) / MBP (Monthly Betting Periods). So with our current settings, this works out to be $650 x 75% / 30 which gives us a daily allowance of $16.25
    The aim of a Punters Club is to build a 'bank' for the club that can eventually be distributed in a variety of ways by having a % of member contributions used for punting purposes and the remainder saved to the club 'kitty' along with any profits from punting activity. With this in mind, our club was formed with the initial settings of 25% saved & 75% bet (being the highest % available except for 100% at the time we started). However, with Punt Club recently rolling out their upgrades the new interface and club captain controls allow us to change the Bet/Save ratio at any time to suit the club's needs/wishes
    Therefore, using the formula above, if we changed the Bet/Save ratio the following alternative betting allowances would be: 80% = $17.33 85% = $18.42 90% = $19.50 95% = $20.58 100% = $21.67
    I must admit I like the ideas put forward by Weazel and Bucko, seeing alot of merit in both - however I do also see some dangers as well. So now onto the pro's and con's of the 2 proposals as I see them.
    Proposal #1 - Raise the bet% from 75% up to the full 100% Pro's - provides each punter with an extra $5.42 every day; - extra betting allowance provides opportunity for increased profit each day; Con's - 100% of contributions being bet = zero% contributions being saved to club kitty for future distribution; - so far, in 4 months, only 36 punting days/turns out of 123 have recorded a profit, resulting in the club currently recording a small loss to date on punting activity, thus meaning if this trend continues the kitty wouldn't grow any further
    Proposal #2 - Each daythe rostered punter be able to re-invest any of their winnings during their turn in the hot seat Pro's - gives each member the chance to showcase their punting prowess even better by capitalising on winning bets to bring in further profit during their day in the punters hot-seat; - greater potential to bring in higher profits Con's - real possibility of wiping out a profitable day by re-investing winnings into losing bets - potential to stymie the growth of the club's kitty
    There you go fellas, 2 pro's and con's for each of the proposals put forward by Bucko and Weazel (I could've listed more but thought that I would start off with just the 2 of each). Now it is time for everyone else to have their say, however I wouldn't mind putting forward an alternative option for consideration but I will save that for another comment to allow everyone to comment on the proposals from Weazel & Bucko.
    So have to it folks, let's get your thoughts :)
     
  7. Len

    Len Cockburn Knightrider Staff Member

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    I was waiting to see what others thought, but here goes.
    Of the two options I prefer the 100% one, we should be above that amount now anyway.
    Here's my problem though, there should be an option to proportion the stake to the account balance, as it is regardless of how how successful we are we will never be able to bet more than the calculated percentage of the deposit amount. That's very limiting and ideally should be raised as an issue.
     
  8. Swalloitdown

    Swalloitdown Member

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    Even if we bet 100% of the monthly input the kitty will grow by the ROI i.e we contributed $650 a month banked $162.50 punted $487.50 @ 87% ROI lost $63.35 thus kept $586.65 each month as average over three months. If we punted it all @ 87% ROI we would have $565.50 in the kitty each month making the assumption that with the increase in daily betting amount we are increasing our winning bets by the same % therefore I am for increasing to 100%.
     
  9. choppers

    choppers Well-Known Member

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    I'm with you, Swallows..........100%
     
  10. Swans2012

    Swans2012 New Member

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    My thoughts exactly swallows! Very little to lose by raising to 100%. As far as reinvestment of winnings on a punters day goes, it concerns me a little but overall it might allow for a more cautious approach to building a profit than having to do it in just one bet, especially with a relatively low stake (21.66). Would be easier if we could just up the daily stake to a set amount ie $50 but I know impossible with the pc sites current update. Anyway that's enough from me, I'm keen for whatever, just need to improve my performance this month so you guys can stop carrying me....
     
  11. Grizzles

    Grizzles Active Member

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    Im easy too. Im only in for a bit of fun and interested to see how everyone bets. Mypreferenceis the 100%.
     
  12. Bearfly

    Bearfly Moderator Staff Member

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    Good feedback fellas, have tried to change settings from last night but continue coming up against a wall when I try to save new settings.
    Have emailed PC admins to find out why the new settings won't save so am awaiting feedback.

     
  13. Bucko

    Bucko Active Member

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    I'm all for the 100% obviously :)
    I don't like the idea of allowing people to re-invest winnings on the day for the following reasons: [span style='font-size: 14px; line-height: 1.3;] <ul> <li>[span style='font-size: 14px; line-height: 1.3;]If someone else's bet settles on the same day, they mayinadvertently[span style='font-size: 14px; line-height: 1.3;]use those winnings (as happened not too long ago when we thought the betting limit had changed)</li> <li>[span style='font-size: 14px; line-height: 1.3;]I don't think its in the 'spirit' of a punters club that a punter can keep reinvesting winnings over and over.</li> </ul>
    Instead of the above, I'd really like to move to the default system on the Punt Club site whereby if you have a winning day, you bet the following day. This would also negate the need for Bear to change punters back and forth. The betting order is now clearly on the punt club site, and an email is sent when you are up to bet.
    I really like the system we have at the moment with the top punters going again at the end of the month, but I think the above proposal would be just as fun with top punters racking up streaks of continuous betting days, and it would take away the need for all that admin work Bear does.
     
  14. Len

    Len Cockburn Knightrider Staff Member

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    Agree 100% Bucko.
     
  15. Daveo

    Daveo Member

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    Of the 2 proposals my vote is to up the ante to 100% as a trial over say 3 months and assess after then.
    Another option is keep as same and up ante for top monthly punters to say $50 per go. ( if possible) This will add extra incentive for positive returns and make end of months punting really interesting.
     
  16. weazel

    weazel Member

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    i think i mentioned this when we first started here are a few q's that popped up.where would futures markets fit in this scenario and is everyone happy to wait 30+++ days until they get a bet
     
  17. Bearfly

    Bearfly Moderator Staff Member

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    Hey there fellas, just thought I would let you know what is happening.
    I am trying to increase the daily betting allowance to $32.50 (double what we have been getting) for this month, and then will work out a formula for the future. However, I have been having difficulties getting the new settings to save - every time I try to save the new settings, the system informs me that 'there is an error that needs to be fixed', but it does not provide any clue as to what the 'error' is!!! I have emailed Jason Neave of Punt Club a few times trying to find out what the problem is, his most recent reply was that they done a fix on the 'start date' field for the club settings section last night after having similar problems reported, however it still hasn't allowed me to save changes this arvo (last attempt was half hour ago). Hopefully this problem can be rectified soon so I can get those changes made - then I will have to allow Russkoit to get another $16.25 worth of bets on.
    Conversely, I could just reset Russkoit as punter with another daily amount of $16.25 now, and keep doing this each day until the problem is fixed!!!
     
  18. J_C

    J_C Guest

    [span style='font-size: 14px; line-height: 1.3;] [span style='font-size: 14px; line-height: 1.3;] Instead of the above, I'd really like to move to the default system on the Punt Club site whereby if you have a winning day, you bet the following day.This would also negate the need for Bear to change punters back and forth. The betting order is now clearly on the punt club site, and an email is sent when you are up to bet.
    Totally agree Bucko. Bear has been terrific with all of the work he's put in to get this thing up and running and to keep it moving despite the challenges the site has thrown up at times, so I'm all for anything to reduce his workload. And given we bet daily, the consecutive days would be in line with the punters clubs run at pubs etc where they bet Saturdays and if you win your stake back, you're up again next week. Just that ours is daily, not weekly.
     
  19. Bearfly

    Bearfly Moderator Staff Member

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    Good news fellas, things have been fixed to enable me to make the changes I mentioned. The only thing is I had to make the daily allowance $33 (wouldn't allow cents - just rounded up). I have also set the return to bet again at 200%, meaning any of us would have to double our stake to bet again the next day :) Let me know what you think
     
  20. UnderAchievers

    UnderAchievers Member

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    Good work Bear, glad they are finally actioning some changes pretty quickly. Are you able to set the amount at whatever you like now? Correct me if Im wrong. But was the initial plan to bet 75% of the Clubs kitty each round? At the beginning of this round we are on $2727.57. So therefore our daily betting amount would be 2727.57 / 30 * 0.75 = $68
     

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