Elaboration on UBET point system
Hello, UBettors!
Thanks to all UBettors for their continued support of our tournaments! We posted during the last tournament explaining how the points system on the UBET Leaderboard is determined and we want to further elaborate on the subject.
First of all, here is the full ranking for the current round of betting tournaments:
*Note that ranking in the leaderboard is based on the dates at the top left corners. For example, the above example considers dates between Jan 13th — Feb 2nd (00:00:00 GMT for both) in the current leaderboard.
To recall, the ranking is sorted based on Points. The point factors take into account your return on investments (ROI) and confidence score, we will break down the two factors below separately.
Return of Investment
In short, the point system measures total winning bets and losing bets. The profit/ loss relative to the betting amount (ROI) is taken into account, e.g one who bets 1 UBCKS to earn 2.5 UBCKS earns the exact same number of points vs one who bets 10 UBCKS to earn 25 UBCKS. In this case, the number of UBCKS on hand does not affect the points at all to ensure fairness. It may be hard to wrap your head around this as with real money, one definitely wins bigger if he/ she places a larger bet. To recall the return on investment (ROI) is calculated:
For example, if one bet 1 UBCKS and the winning odd is 2.3, the ROI will be (2.3–1)/1 which is 2.3, meanwhile, one places 5 UBCKS on the same bet and the ROI will be 5 (11.5–5), which is 2.3 as well.
The same rationality applies to losses, one who bets 1 UBCKS or 10 UBCKS and loses gets deducted the exact same number of points. The relative losses are the same for both parties, i.e. both get -1 ROI. Again, this does not feel the same in real life, i.e. when you bet larger, the pain of losing is bigger.
Some wins yield more points than others, more points will be accumulated if one wins a bet with higher odds, i.e. both bet 1 UBCKS, but one earns 2 UBCKS but another one earns 3 UBCKS, and the one who earns 3 UBCKS receives more points to reward the additional risk taken.
Confidence
In order to encourage more betting activities, we reward the participants who replace bets more frequently up to a certain point, which is reflected in the equation factor “confidence”.
The reward for additional bets diminishes so it is not necessary to bet on every single game to win, e.g. if one only follows football, he does not need to bet on basketball games to win the tournament. In this case, if he randomly bets on basketball games, he may end up getting points deducted on ROI with a slight increase in confidence points. We want to encourage bettors to bet on the games they truly have knowledge/conviction.
The goal is to give a bettor who consistently wins a better ranking compared to another bettor who only bets once in a while. A small number of wins can be attributed to coincidence/ luck but regular wins prove strong betting skills. In a nutshell, placing bets on most games for one sport (can be basketball or football) already yields a confidence number close to the max number, in real life, very few people bet on every single game as well.
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Disclaimer: The above content is intended for information purposes only and is not intended to be gambling, trading, nor investment advice. Please perform your own analysis before making any betting, trading, or investments based on your own personal circumstances or seek a duly licensed professional for gambling and trading advice. Accordingly, neither UBET nor its partners, directors, shareholders or employees are liable for any damage, expense, or other loss that you may incur out of reliance on the above information.