| id | Title | Status | Author | Description | Discussions to | Created |
|---|---|---|---|---|---|---|
| TIP-229 | systembets | Draft | @holmberg | Implementation of system bets | discordlink | 2024-10-08 |
This TIP suggests implementation of system bets
System bets allow users to place multiple combinations in a single wager. System bets are popular in web2 bookmakers. System bets give users chance lower risk of losing everything on single bet and increasing volume. I see this feature increasing parlay volume significantly since these big parlays without systems are not rewarding for user and not so popular.
System bets allow bettors to bet combinations like "3 out of 4" or "2 out of 3" outcomes. This allow players to spread their risk across different bets and still win even if not all outcomes are correct. System bets add new type of betting that could attract more users to place parlays with a higher chance of success, thereby increasing betting volume.
Offer a feature familiar to traditional bettors, making the protocol more user-friendly. Encourage more bets by reducing the risk of total loss in parlays. Attract players who enjoy betting strategies but want lower-risk options in their wagering. Provide more betting structures to users, increasing the protocol's competitiveness with Web2 bookmakers.
Implement system bets functionality to backend (new smart contract) and frontend to show and place system bets correctly. These system bets are handled as single ticket with single buy-in and single pay-out. Using old contract would cause gas issue since 10 leg system bet can be split to 256 5-leg combinations.
The max number of combinations will be limited by a contract variable maxAllowdSystemBetCombinations initially set to 500, with pDAO being at liberty to change it ad hoc.
Calculation of possible outcomes and payouts for a 3-way and a 4-way system bet using the following odds:
Game A: 2.20 Game B: 1.80 Game C: 3.00 Game D: 3.50 Game E: 1.50
4-Way System Bet (4 out of 5) 4-way system bet will generate 5 sub-parlays.
A, B, C, D -> 2.20 * 1.80 * 3.00 * 3.50 = 41.58
A, B, C, E -> 2.20 * 1.80 * 3.00 * 1.50 = 20.79
A, B, D, E -> 2.20 * 1.80 * 3.50 * 1.50 = 23.76
A, C, D, E -> 2.20 * 3.00 * 3.50 * 1.50 = 34.65
B, C, D, E -> 1.80 * 3.00 * 3.50 * 1.50 = 28.35
Results If A C D E bets are correct and B is wrong payout is based of correct subparlays under systembet. 4-way winning parlays ACDE
System bets works easily with bigger parlays also. 10 leg parlay allow user bet different combinations like 7-way, 8-way, or even 9-way bets.
10 leg parlay 7-way system bet (choose 7 out of 10): Total combinations = 120 (sub parlays) 8-way system bet (choose 8 out of 10): Total combinations = 45 (sub parlays) 9-way system bet (choose 9 out of 10): Total combinations = 10 (sub parlays)
https://github.com/thales-markets/contracts-v2/pulls
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