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Rewards for doing WOC


MMATycoon

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Hi guys. Just wanted to get your opinions on what you wanted in return for entering your predictions on WOC.

 

I'd say we're out of the "testing if this works" phase now. It clearly does work as a concept, so I am pushing on and have commissioned an app to be made for just the WOC. That's cost $400 initially, then my plan is to charge people $2 to view predictions ahead of each event. I'm going to use the app to promote the game by having one of those "powered by MMATycoon" type banners at the top of the app.

 

 

 

The system lives and dies on the quality of the predictions, so I wanted to know what you guys would expect in return for taking part?

 

Are you guys actually using the data to bet? I was thinking that people who have a positive contribution to the system on one event would get to view the predictions for the next event free.

We could also give away spin and win credits, free VIP etc?

 

What I don't want is to have people trying to beat the system and inflate their rank or whatever, to try and earn credits etc. Having people put 100% for everything was a real pain in the butt and I presume people were doing that because they wanted to get a higher WOC ranking, to the detriment of the system.... I don't want to encourage that in any way.

 

 

SO yeah, general thoughts on why you participate in the system and what's going to keep you participating. Thanks!

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well if i bet on fights i dont think the woc would influence me any -- but i dont place bets on fights or at least not with a gambling place -- i like to participate though just to see if my predictions are correct -- if its something you think would work out though im all game for it -- i didnt even know there was a ranking system in it -- i just have picked the fights i feel somewhat confident with dont know if it makes a difference or not but i usually set my confidence at what ever my prediction is -- say i put 70 on prediction i put 70 in confidence cause to me they pretty much go hand in hand

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I just like to guess rewards are always welcome though and I never really noticed there was a ranking system in it. But if there is a fighter who I cheer for I will most likely pick him even when I think its a loss. I can't help it.

 

About the 100% confidence.. I have to select it when I see Phil Davis vs Ryan Bader

But adding a feature of the method of victory (ko, submission, decision) seems like fun.

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just looked at rankings page

 

100. http://www.mmatycoon.com/images/myfighter.gifhttp://www.mmatycoon.com/images/myfighter.gifCaptain Spauldinghttp://www.mmatycoon.com/images/myfighter.gifhttp://www.mmatycoon.com/images/myfighter.gif 31-11 (74%) 100 $88.52 $2.11 12 117

 

so let me guess how this works -- its saying if i would of placed a $10 bet on each fight i picked i would have won $88.52 -- maybe i should start betting -- lmao

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yup, that's what it's saying :)

 

but you'd be better off using the WOC to start betting, cos then you'd have won $272 ;)

okay i understand every thing on there little better now -- too bad im a broke ass or might be betting -- do they have a cheapskate betting service for 1 buck bets -- lmao -- i could see this doing something for people that just gamble no matter what they bet on or even know -- another words the common gambler that knows nothing about mma really

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I am not so sure this concept will continue to work if awareness increases to the general public.

 

There is an idea called the Efficient Market Hypothesis when trading stocks that basically states that stock prices reflect all past publicly available information.

If we think of the odds this way(as an efficient market), then as awareness increases the oddsmakers will adapt the line they give to take into account the new information provided by the app, and the predictions it makes will become unprofitable because the line has been changed by the existence of the app making this information public. IMO, you should keep it under wraps for the community at large, and not make a mobile app.

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I am not so sure this concept will continue to work if awareness increases to the general public.

 

There is an idea called the Efficient Market Hypothesis when trading stocks that basically states that stock prices reflect all past publicly available information.

 

If we think of the odds this way(as an efficient market), then as awareness increases the oddsmakers will adapt the line they give to take into account the new information provided by the app, and the predictions it makes will become unprofitable because the line has been changed by the existence of the app making this information public. IMO, you should keep it under wraps for the community at large, and not make a mobile app.

 

The efficient market hypothesis doesnt really apply to bookies only on markets where buying and selling takes place among peers. Odds don't move as freely as stocks do. It is possible, although unlikely that bookmakers would shift the odds after looking as such data but even if that was the case there would be a significant lag before the odds are shift where there would be theoretically no lag in a market.

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It works somewhat like a stock market. People trade on whether one fighter is going to win his fight. For example one asset would have been "Jon Jones will win against cormier". Those who bought and held this asset would have gotten $100 (or some multiple of 10). If Jones had lost they would have gotten nothing. Buyers and sellers buy and sell the assets based on how sure the market is that the successful outcome will happen. If the market finds in very likely the price will be high e.g. 90$ so there is only a $10 profit possible. If the outcome is very unlikely the price will be very low e.g $10 so there is a lot of upside. The most important thing is that the market is not static and changes over time so you could buy an asset when it is $50 and sell once (if) the price has gone up to $70 in order to capture some secure profit. Another important thing is the price in the market reflects the probability of the outcome ($70 for one asset means the market believes it has a 70% chance of happening).

Does that make sense? It is hard to describe.

 

Heres what wikipedia says:

http://en.wikipedia.org/wiki/Prediction_market

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I just like to guess rewards are always welcome though and I never really noticed there was a ranking system in it. But if there is a fighter who I cheer for I will most likely pick him even when I think its a loss. I can't help it.

 

About the 100% confidence.. I have to select it when I see Phil Davis vs Ryan Bader

But adding a feature of the method of victory (ko, submission, decision) seems like fun.

Havent used it yet....dont really have a clue what it is....ended up here just bored and clicking links.But reading the above I think I need to know more and perhaps use it as well. I assume its about REAL fights?

and the idea I saw about "But adding a feature of the method of victory (ko, submission, decision) seems like fun." seems a good Idea...but the link I clicked was wanting rewards suggestions? Someone said spin and win and I agree with that.

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I enjoy taking part just to .. take part. To see how good I am at predicting. I don't gamble real money on these sort of things.

 

The danger of offering spin and win credits or other in-game incentives to take part is people will just spam to try and get the rewards. If they only get rewarded for positive contributions, well that's still a no lose situation for them - they make loads of predictions and either get rewarded for guessing correctly or lose nothing for guessing incorrectly. People'd rather get spin and win credits than help make the WOC succeed I reckon.

 

Perhaps you could give a prize out to the top 3 participants after a year, or six months? Not that I'll be up there. I've got 7/9 right but am only in 91st place..

 

I will keep predicting just for the fun of it!

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I am not so sure this concept will continue to work if awareness increases to the general public.

 

There is an idea called the Efficient Market Hypothesis when trading stocks that basically states that stock prices reflect all past publicly available information.

 

If we think of the odds this way(as an efficient market), then as awareness increases the oddsmakers will adapt the line they give to take into account the new information provided by the app, and the predictions it makes will become unprofitable because the line has been changed by the existence of the app making this information public. IMO, you should keep it under wraps for the community at large, and not make a mobile app.

 

Not relevant but reminds me of this...

https://en.wikipedia.org/wiki/Observer_effect_%28physics%29

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I think, giving out free VIP for the top 3 performers of the month, ( not the top 3 ranked in the WOC list) as we now have about 3 UFC events per month, and in addition we hav WSOF and Bellator.

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I'd love to get the smaller orgs involved in this. We really got screwed with the WSOF last time though - I put 4 fights up, 1 got cancelled and 1 never had odds. Having just two fights ended up with us getting that nasty looking red number on the event list. If I could guarantee odds to enter, I'd have all the smaller events too.

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I'd love to get the smaller orgs involved in this. We really got screwed with the WSOF last time though - I put 4 fights up, 1 got cancelled and 1 never had odds. Having just two fights ended up with us getting that nasty looking red number on the event list. If I could guarantee odds to enter, I'd have all the smaller events too.

What about invicta?
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reminds me of the movie "two for the money" -- you ever seen it -- might end up with someone hunting you down cause they lost everything -- lol

The thought brings the movie: *lucky number slevin* to my mind,

sorry for buttin' in

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