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    Place Your Bets - How it Works


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    Join date : 2012-06-16
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    Location : Dallas, TX

    Place Your Bets - How it Works Empty Place Your Bets - How it Works

    Post  TheChicaneNews on Wed Jun 20, 2012 6:30 pm

    Place Your Bets (commonly abbreviated as "PYB") is a non-profit, all-for-fun way of testing your betting skills and seeing how good you are at picking out the winning car in a race! There are some very simple rules as far as this competition goes.

    The rules are that you, upon betting, must bet either 5% to 100% of your total points. Points are like money in the real world. You have member points, displayed as such under your avatar on every post you make. You must bet points, and points only. However, you cannot bet member points, as of June 21, 2012. You are allowed to start out with 1000 pts. for the PYB competitions. These are completely different from the points talked about earlier; they aren't displayed under your avatar. You are allowed to use points from other PYB series, if over 1000 pts., to wager in other PYB series.

    The series we will be betting on will be these five wonderful ones: FIA Formula 1 World Championship, NASCAR Sprint Cup Series, IZOD IndyCar Series, Dunlop MSA British Touring Car Championship, and the FIA World Endurance Championship. For the FIA WEC, you must bet on a specific car in each class to win the session. You don't have to split your bets evenly, but you must maintain the 5%-100% rule for the accumulated amount of betting points. For example, you can bet 2% on LMP1 winner, bet %1 on LMP2 winner, bet 1% on the GTE-Pro winner, and 1% on the GTE-Am winner. That would be LEGAL.

    Total points for a member entering the multiple PYB series are the points won by betting in races. Points accumulated otherwise do not count, but are allowed to be wagered upon betting.

    Betting styles are similar to those in professional horse racing, except there is only one betting style…

    Win: the simplest and most common bet; betting on who will win a session; the formula: bet x odds = pts.

    Why just “win”? It is just too complicated for an out-of-the-house, private business to factor in the others. Plus, I’m not very good at math! Laughing

    The prize is not in money, as we like to keep some home privacy. However, the winner will be mentioned in the Community section of our e-Magazine, The Chicane, which is launching January 2013. Individual winners will be listed, and the big winner of them all will be on the cover of the January, 2013 magazine! In future years, winners of the PYB competitions will be listed in the January publications of The Chicane each year. Also, in the Critic section of each race series, the current leaders and previous results of the PYB competitions corresponding to the real-life series beside it will be published.

    In short, don't forget to place your bets in the PYB competitions!

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