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6 People Bet $10,000 (500 teams x $20 each) on the British Open Contest

Quadhole

By Quadhole,
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Quadhole Well Established Member

Quadhole

Hard to imagine that someone would spend $10,000 on gambling in one weekend and take the time to pick out 500 teams. Seem that on a comment in chat section to the right. Lists how many total, etc... Guessing that is 6 people that gamble for a living, and have already won a load of money on the site.

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iacas Hall of Fame Member

iacas

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I don't know how that makes sense from a math perspective.

You know that the payout isn't 100%, so let's assume the site (DK?) is taking only 20%. That's 80% of the money that's available. So if your teams are evenly distributed, you'll win on some and lose on some, but the best you can do with an evenly scattered distribution would be to win 80% of your entry. (Now, that assumes the prizes are linear, but with 500 entries even if they're not linear it's going to be pretty much 80% anyway.)

It seems like you'd have more success trying to create fewer teams and have a higher percentage land in the top earnings.

Then again, nothing says the teams had to be different. Maybe they have five teams, and 100 "copies" of them.

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Elrey Desol Well Established Member

Elrey Desol

Hard to imagine that someone would spend $10,000 on gambling in one weekend and take the time to pick out 500 teams. Seem that on a comment in chat section to the right. Lists how many total, etc... Guessing that is 6 people that gamble for a living, and have already won a load of money on the site.

yeah.  the sharps will have [many] Multiple Entries in all kinds of contests. even with the vig DK/FD/VT are taking, these guys can make a decent profit just in sheer volume.

the key is looking at "soft" pricing in contests....PGA is good for this, especially in Majors where Average Joe Square is wants to put a little cash on TW/FIGJAM.

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Note: This thread is 3202 days old. We appreciate that you found this thread instead of starting a new one, but if you plan to post here please make sure it's still relevant. If not, please start a new topic. Thank you!

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