Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread
by
shadypepe
on 12/06/2014, 16:10:44 UTC
i have a question about xbet, the xbet thread doesn't seem too active which is why i'm asking here: are the odds for an individual bet set in stone when you make the bet or do they change when other people bet? in the latter case, that would mean it'd make sense for everyone to wait up until the last second before the betting closes (which is when btw for the worldcup?), in the former case that would mean nobody would make the first bet because it would always give him 0 xcp, right?

When two bets are matched, the odds are always determined by the bet in the pair that was first placed.

ok now i'm confused, what do the numbers on there actually mean? i assumed those are the odds, so if it would be for away back/lay 10/10, that would mean 50:50 odds?

Those are the odds that you've selected; they aren't the only odds you are willing to take, they are, rather, the worst odds you will take.

If someone made a bet that with a wager of 8 and and a counterwager of 10, his bet wouldn't match yours, since those are worse odds than you specified in your order. If, however, someone made a wager of 12 and a counterwager of 10, he would match your order. And if your bet was made first, the actual odds of the bet would be 1:1, whereas if the counterparty made his bet first, the odds would be 5:6 (for you, and 6:5) for him.

The logic for matching bets is exactly the same as the logic for matching orders.

ok thanks, but i'm only putting in one number right? if i put in 10 what exactly does that mean? and what does the 10 mean that's already there (say for example for lay away)