RebateWager Exchange: $1,000 Beta Contest for Conference Tournaments

THEGREAT30 · 03-09-11, 04:10 PM

Originally posted by BLACKIE

Clean slate tomorrow for all.

Is what it is but that sucks for people that put in the time in the last 2 days. Oh well, that's life.

mdemps9190 · 03-09-11, 04:11 PM

So you guys are going to reset the contest? Isn't that kind of unfair for those who have won games and bets?

Fishhead · 03-09-11, 04:12 PM

Originally posted by THEGREAT30

Is what it is but that sucks for people that put in the time in the last 2 days. Oh well, that's life.

How is this fair for the current leaders of the contest???

THEGREAT30 · 03-09-11, 04:12 PM

Originally posted by mdemps9190

So you guys are going to reset the contest? Isn't that kind of unfair for those who have won games and bets?

Yes, but what are we going to do other than point out that its unfair?

dikefale · 03-09-11, 04:13 PM

Funny, what about guys at top who spent so much effort gaining this score?

THEGREAT30 · 03-09-11, 04:14 PM

Originally posted by Fishhead

How is this fair for the current leaders of the contest???

It's not. I put all mines on UConn and St Johns. I should be looking at 18,000 instead of 10,000, but it is life Fish. No meaning to life, no meaning or method to the madness that happens in life. Why expect Blackie to do any better than run a ship of chaos?

horja1 · 03-09-11, 04:16 PM

Originally posted by Fishhead

How is this fair for the current leaders of the contest???

Agreed ...

If XME has to reset the acounts they can restore current balance manually for each acount ...

FourLengthsClear · 03-09-11, 04:23 PM

Originally posted by BLACKIE

It will be structured like a real exchange. Members will have the option to buy seats with equity or lease seats month to month. Pricing structure on these options will be out shortly.

Interesting.

Dark Horse · 03-09-11, 04:25 PM

Originally posted by BLACKIE

Clean slate tomorrow for all.

You need to think about the long term consequences of what you're saying. Power outage so everything is reset...

Clearly, such decisions should be made with caution, and only apply to the affected time window; not to a previous trading period.

This may only be beta testing, but your credibility -as a decision maker- is closely monitored just the same.

THEGREAT30 · 03-09-11, 04:27 PM

Originally posted by Dark Horse

You need to think about the long term consequences of what you're saying. Power outage so everything is reset... lol

You see. That has nothing do to with a beta phase.

Smart man you are

Fishhead · 03-09-11, 04:28 PM

This is not good

THEGREAT30 · 03-09-11, 04:32 PM

Stop your whining thats what you get when try to get something for free.

mdemps9190 · 03-09-11, 04:37 PM

Originally posted by Dark Horse

You need to think about the long term consequences of what you're saying. Power outage so everything is reset...

Clearly, such decisions should be made with caution, and only apply to the affected time window; not to a previous trading period.

This may only be beta testing, but your credibility -as a decision maker- is closely monitored just the same.

Sharp Post DarkHorse...Also a little more clarification on the "buying" of seats?

VegasInsider · 03-09-11, 04:57 PM

Originally posted by BLACKIE

Clean slate tomorrow for all.

Serious?? I triple my bankroll thru the afternoon games and you suspend the contest?

What a joke!

Everyone was using the same site...I'll pass next time around. Not going to waste my time trying to offer insight.

xxx · 03-09-11, 05:09 PM

lets give the guys some time to troubleshoot the software, it is a beta afterall. people who are in the prize range should be an issue if they reset bankrolls.

excel · 03-09-11, 05:14 PM

Fuk I was in 4th, how am I gonna pay the electricity this month?

BLACKIE · 03-09-11, 05:15 PM

Anyway I play this someones not going to be happy. Leader board will be updated at the end of the day and the top 3 traders will be given a prorated prize based on the duration of the contest.

We are in the process of moving the exchange to our new offices and I can assure everyone here that we have the infrastructure and backups in place to prevent any further disruptions to the contest.

Anyone that wants to continue on can do so starting tomorrow.

Dark Horse · 03-09-11, 05:16 PM

Originally posted by VegasInsider

Serious?? I triple my bankroll thru the afternoon games and you suspend the contest?

What a joke!

Everyone was using the same site...I'll pass next time around. Not going to waste my time trying to offer insight.

It's good that this comes out now. There is a credibility gap between Ganch and Blackie. How could there not be? Blackie is smart to hire someone like that, but he also flies by the seat of his pants and shoots from the hip. The initiative to start a project like this is very positive, but the risk is that if he doesn't get out of his own way he'll undermine the trust factor; which may be directly translated to liquidity. The power outage problem is nothing new in the world of exchanges, and in this case was handled incorrectly (a previous day of trading was eliminated) My own decision, based on this brief but telling experience, is to stay away until at least the start of football 2012.

dikefale · 03-09-11, 05:20 PM

Originally posted by BLACKIE

Anyway I play this someones not going to be happy. Leader board will be updated at the end of the day and the top 3 traders will be given a prorated prize based on the duration of the contest.

We are in the process of moving the exchange to our new offices and I can assure everyone here that we have the infrastructure and backups in place to prevent any further disruptions to the contest.

Anyone that wants to continue on can do so starting tomorrow.

Fair enaugh.

mdemps9190 · 03-09-11, 05:31 PM

I think that is a good system Blackie. I'm very interested in this software, and I know you understand the volatile emotions of SBR. Just keep in mind to be very transparent with your process as it progresses through the beta, and I think that people will be able to sympathize and help make this a great product.

I still would like you to embellish on this "true" exchange? I understand what you mean buy buying seats, like in NYSE or something, but I don't understand how/why you would do that for an exchange of sports betting. Maybe I am mis interpreting but in a short question, will this be the same as matchbook in terms of how we place bets or completely different? Are you going to try and make money off of people just buy having them pay in essence a membership fee or what?

VegasInsider · 03-09-11, 05:35 PM

Originally posted by BLACKIE

Anyway I play this someones not going to be happy. Leader board will be updated at the end of the day and the top 3 traders will be given a prorated prize based on the duration of the contest.

We are in the process of moving the exchange to our new offices and I can assure everyone here that we have the infrastructure and backups in place to prevent any further disruptions to the contest.

Anyone that wants to continue on can do so starting tomorrow.

I'm probably not in the Top 3, but that is a fair thing to do and much appreciated.

kmarinouofm · 03-09-11, 05:57 PM

Originally posted by VegasInsider

I'm probably not in the Top 3, but that is a fair thing to do and much appreciated.

ThaddeusB · 03-09-11, 06:00 PM

Originally posted by BLACKIE

Clean slate tomorrow for all.

What a joke. I spent hours making markets and now all my efforts will be wiped out? Most of the games wouldn't even have had a market had I not put orders in.

This decision will eliminate any chance I had of winning since it will clearly go to someone who allined twice and won both games if we only have 3 days to trade.

I have ten years of experience making markets on exchanges and wanted to provide you guys with a lot of valuable feedback. Now I'm not so sure.

Oh, and the excuse that someone will be pissed no matter what is BS. People might be pissed that the server crashed, but no one would complain about previous results still counting.

jwbama23 · 03-09-11, 06:42 PM

I was wondering why I couldnt log on all day

Fishhead · 03-09-11, 07:11 PM

Originally posted by BLACKIE

Anyway I play this someones not going to be happy. Leader board will be updated at the end of the day and the top 3 traders will be given a prorated prize based on the duration of the contest.

We are in the process of moving the exchange to our new offices and I can assure everyone here that we have the infrastructure and backups in place to prevent any further disruptions to the contest.

Anyone that wants to continue on can do so starting tomorrow.

So I double up and may get nothing????

You need to pay more than just the top three..........EVERYONE with a balance over 10,000 should be compensated with freeplays, they were all WINNERS.

Fishhead · 03-09-11, 07:33 PM

Thanks for the post nomination EXCEL............the right thing to do is pay everyone that has a POSITIVE balance.

Ganchrow · 03-09-11, 07:37 PM

Hey guys ... we actually lost power (not to mention water) at the development offices for a period of over 7 hours today.

We're in the process of migrating our infrastructure over to the RW office and will be and up and running there very, very soon.

That's part of what running a beta contest is about .. shit can and does frequently go wrong.

Anyway, for his all bluster this isn't Blackie's fault. It's Costa Rica -- we lost power and started scrambling. Utility company kept promising we'd be up shortly but we weren't.

RW's offices have backup generators and redunndent Internet connections. That was the prooduction enviormnemt to which we had always intended to move for the coming Big Dance contest so now we;re just getting a head start.

So here's what we're going to do. The current contest leaders will receive their prorated shares for the first two days of the contest, at which point after which I'll reset all balances to $10K and everyone can all start again from there. Fair?

But honestly ... shit just happens ... this is a Beta contest run out of a development environment that's physically located in an area of Costa Rica that probably experiences 2 or more major blackouts a year. That's why most sportsbook production setup typically sport doub;e or triple or even quadruple redundancies ... and by tomorrow so to will XM Exchange.

pokernut9999 · 03-09-11, 07:45 PM

The crybabies on this forum just continue to amaze me

A contest to test something that is free

All you poor souls that put so many hours into this that you will never get back .........

Get a ................. LIFE !!!!!

Gio21 · 03-09-11, 07:46 PM

Originally posted by Fishhead

So I double up and may get nothing????

You need to pay more than just the top three..........EVERYONE with a balance over 10,000 should be compensated with freeplays, they were all WINNERS.

ITS A

FREE CONTEST

GET OVER IT

playr101 · 03-09-11, 07:50 PM

Originally posted by Ganchrow

Hey guys ... we actually lost power (not to mention water) at the development offices for a period of over 7 hours today. We're in the process of migrating our infrastructure over to the RW office and will be and up and running there very, very soon. That's part of what running a beta contest is about .. shit can and does frequently go wrong. Anyway, for his all bluster this isn't Blackie's fault. It's Costa Rica -- we lost power and started scrambling. Utility company kept promising we'd be up shortly but we weren't. RW's offices have backup generators and redunndent Internet connections. That was the prooduction enviormnemt to which we had always intended to move for the coming Big Dance contest so now we;re just getting a head start. So here's what we're going to do. The current contest leaders will receive their prorated shares for the first two days of the contest, at which point after which I'll reset all balances to $10K and everyone can all start again from there. Fair? But honestly ... shit just happens ... this is a Beta contest run out of a development environment that's physically located in an area of Costa Rica that probably experiences 2 or more major blackouts a year. That's why most sportsbook production setup typically sport doub;e or triple or even quadruple redundancies ... and by tomorrow so to will XM Exchange.

Fair enough for me..

thx for the contest

-playr101

RudyRuetigger · 03-09-11, 07:54 PM

Ganch and Blackie

People need to stop bitching and complaining. This is a free contest and listed as BETA

Fishhead · 03-09-11, 07:57 PM

Whether the contest was free, had a $1,999 entry fee, or they paid the particapants $100 each to particapate is irrelavant.............

GANCH has proposed the PRECISE HONORABLE thing to do, and that is to PRORATE all those with a positive balance.

pokernut9999 · 03-09-11, 07:59 PM

Originally posted by Fishhead

Whether the contest was free, had a $1,999 entry fee, or they paid the particapants $100 each to particapate is irrelavant.............

GANCH has proposed the PRECISE HONORABLE thing to do, and that is to PRORATE all those with a positive balance.

It was only suppose to pay the top 3

Why should it pay everyone with a plus balance ?

mdemps9190 · 03-09-11, 08:00 PM

Thanks Ganch...Appreciate the update. As I said before, transparency is key here and I think its very fair what you guys are doing. Fish, relax..

Fishhead · 03-09-11, 08:01 PM

Originally posted by pokernut9999

The crybabies on this forum just continue to amaze me

A contest to test something that is free

All you poor souls that put so many hours into this that you will never get back .........

Get a ................. LIFE !!!!!

Try this argument in Vegas and run it through Gaming Control Boards hands and see how you make out as a casino owner/manager.