The Playoff Races: Betting the Ponies

Simple game, basically I put out wagers with odds and you bet on the ones you think will happen.

OK, it's a casino. Every player gets 1,000 chips. You can bet any amount you want on any bets you want. You must make at least one bet though and you may not spend more than 1,000 chips in bets.

There will be two sessions of betting (1000 chips TOTAL. If you bet 1000 chips in Session 1, you cannot bet in two)
Session 1: 7/4-7/9
Session 2: 7/10-7/14

Each session will have the same bets, but different odds depending on what happens in the major leagues. If there's a bet that says "The Red Sox will win the division", and they expand their lead by 3 games, the odds will get less lucrative, if they lose three games, the odds may more lucrative, if it stays the same, the odds will get slightly worse for time periods.

As soon as the bets are posted and I record them down, they are locked in. No retracting bets. Makes it easier for me.

You may also parlay bets (well, at least combine them), in a bit of a different form. If you make two bets and want to combine them, you can do that. If you win the bet, you get a 50% bonus with your normal winnings. For instance if you combine your bets on A and B (let's call it AB). Your A bet wins but your B bet loses, you get nothing in return. If A and B win, you get your normal return + the return multiplied by .5 for the bonus.

I will give an example

Fishercat (Base 1,000 chips)
Session 1:
Bet A (2:1): 50 chips
Bet B (4:1): 100 chips (Parlay A and B)
Bet C (3:1): 200 chips
Bet D (5:2): 100 chips
Keep 550 chips

Suppose those are my bets. A, B, and D are winners and C is a loser. I win 100 chips from Bet A, 400 chips from Bet B, 250 chips from the Parlay (500/2), 250 chips from Bet D, and I lose 200 chips on Bet C. That means I had 1000 + 100 + 400 + 250 + 250 - 200 = 1800 chips.

That is basically how it would work.