The How To Box Betting Club: Rules for Involvement

The How To Box Betting Club

Welcome to the exclusive How to Box betting club.  Actually, it isn't all that exclusive, anyone can join, and because you're reading this, you already have.  Below are the rules and regulations for participation.

I bet you have some questions.

1.  What is the betting club?

I, for one, do not have a ton of money to go betting on the fights.  Even if I did, I would probably get it wrong most of the time.  That said, I think it would be exciting to bet on the fights, so this club is to combine brains so we have a better chance of winning.

2.  How does it work - the Theory?

Well, I had a couple of stipulations for the club:

• I wanted everyone to be able to participate
• I wanted no one to have to contribute any of their own money
• I wanted to use the collective boxing knowledge of the site to pick who to put the money on.

I think I came up with a solution.  How to Box opened a sportsbook account with Intertops.com so I can now place bets.  I created this special club which everyone is capable of joining if they so desire, and most importantly, I found a couple of advertisers willing to give us money to bet.

3.  Exactly, how does it work?

If you want in on the betting action, it is very simple. 

1. Go to the post entitled "Getting your Betting Money".  If you are from the U.S., click on the banner for the U.S. and fill out the offer which comes up.  If you are from Canada, click on the Canadian banner and fill out the offer that comes up.  These offers will not require a credit card or any other form of payment.  You can click on each offer only once.
2. After you complete the offer, return and vote for the fighter you believe will win.  If you want to leave a comment regarding the proposed fight, please do.  Remember, we are trying to base our betting decision on the wisdom of all members of the club.

Every morning (unless I'm unable to get to a computer), I'll update the post entitled "Our Current Betting Pool" with the amount of money in our betting pool.  Every member of the club, by filling out an offer, will put about $1.50 in the pot.  It depends on the advertiser.

Note:  I am not keeping any of this money for myself.  100% of it goes in the pot.

Once the deadline for betting has been reached, I will place a bet on behalf of the members based on the results of the poll.  If we win, half the winnings will be distributed.  The other half will be paid out to you via Paypal.  If you do not have a Paypal merchant account, get one now or I cannot distribute the money (the account is free).  You will have to email me your account details (email address you used) so I can make the payments.  Be sure to include your How to Box username.

The cycle will then repeat.  I have no way of ensuring everyone in the club fills out an offer, however, if they don't the betting pool will not be as big as it could be and we won't win as much.  So, it behooves everyone to fill out the offer for every bet.   Eventually, the club, if  lucky or skilled enough, should have a sizeable amount in its betting pool.

4.  What kind of potential is there?

Here are some fictitious numbers:

Assume 100 people join the club:
Assume $1.50 is paid per offer completed
That equals $150.00
We place a bet - assume odds on our boxer is 1.5.
Our boxer wins - so we are paid $225.00
Divide it in half (save some for a rainy day) - $112.50
Pot now has $112.50 in it, and the cycle starts again.
So, another $150.00 is raised through offers.
We combine it with half our previous winnings and place our bet - $262.50
Assuming same odds, we win again, payout is $393.75
Half goes into the account, other half is bet again....and so on and so on.

Obviously the more people we have in the club, the more money the club can make.

5.  I've had enough, I want my money and want out...

You can leave the club at any time, but the betting pool is club money and stays.  All you get is your portion of the account, which is paid out after every bet.  So, obviously, it is a good idea for you to stay in.

What keeps you from staying in the club and freeloading?  That is, not filling out any offers and collecting the winnings?  Unfortunately, nothing.  I have no way of tracking this.  The winnings are simply divided by the number of people in the club.  However, I would hope that the honour system is good enough here.  If I do find out you are doing this, I will ban you not only from the club, but also from the site.  If I find this is becoming a problem, I will implement further measures to verify you have filled out an offer.  Please do not make me complicate things. 

You are free to sign up under multiple accounts if you wish, but every account has to fill out an offer to add money to the pool.

6.  Am I going to get rich doing this?

Honestly?  I doubt it.  Maybe after a fairly lengthy amount of time (any math majors out there), there will be a sizeable amount in the betting pool (depending on our luck, and I make no promises) which will make our winnings quite large.  You will get the thrill of betting on the fights, and you will have nothing to lose.  Seems like a win win situation to me.  Plus, it could stimulate some lively debates in trying to decide who to wager on...

7.  How many people can join the club?

There is no limit, and actually, the more the better as the betting pool will be bigger.

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