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Allow Bettors to Consolidate Multiple Bets of Differing Amounts
I have 15 bets down on the question, Will the Dow close below 10,000 this year? Half of them are 3rd quarter, the other half are 4th quarter. There are so many they waste space on the screen. I have the same situation with many other bets that I've nibbled my way into over time. I'd like to be able to highlight several of them, then right-click on "consolidate these bets". (Or click a check box on each bet that says "Consolidate?" After two such check boxes had been clicked, those two bets would be consolidated. Then the user could add additional bets to the consolidated pile in the same fashion, if he desired.) I think this would be a popular feature with heavy players here.
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Inappropriate?RogerKni,
While this is a great idea, and one that might be able to be implemented; I see there being issues with the differing odds.
If I put 10,000H$ into a question at 10%
the payout would be different than 10,000H$ at 50%
etc. -
Inappropriate?Oh, sure, but the solution is MTE (Merely a Technical Exercise), as people facetiously say in computerdom. The Hubdub software would calculate what the two bets being consolidated would pay out if they were successively cashed in, then take that amount and place a new bet at current odds. It shouldn't be complex--it would just bundle together three current steps (cash in, cash in, re-invest) in one convenient, click-click operation. -
Inappropriate?This would be great, but only if there was also the ability to cash in partial holdings. At the moment, one way to have a little control over how much you are holding is to predict in smaller amounts repeatedly, so that you can reduce your holdings without removing them all at a later date.
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Inappropriate?IM: I agree that it would be a good companion to my "consolidation" suggestion to allow partial cashing-in of bets, as that would also reduce the clutter of multiple bets on the same outcome. Indeed, I suggested just that, parenthetically, a day before this proposal, in my "Allow Margin-Betting on Long-Term Questions," where I wrote:
"percentage-bet-reduction would be a desirable feature on its own, instead of forcing the bettor to cash in a bet in its entirety and then reenter the bet at a smaller amount, which is a bit annoying and inconvenient."
But I disagree that this additional feature would be a prerequisite to the consolidation feature I've proposed here. My betting pattern, and that of others, I'm sure, is to tiptoe in to a bet in small amounts, gradually committing to it. If I then eventually have six or eight small bets on an outcome, I have more than enough separate bets in place to allow me to tiptoe out of my commitment--three or four would be adequate for that. So it would be worthwhile to be able to consolidate those six or eight down to three or four, even in the absence of a partial cash-in feature. -
Inappropriate?Thanks RogerKni - if we could make the math here work (with price increase over time etc) and the issue of partial voiding (ie if a settlement cutoff date falls between two consolodated positions) it would be a useful power feature to implement down the road.
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Inappropriate?Tom: I don't understand what the complications are. I'm only proposing that bets on identical outcomes be consolidated, not anything fancy. Therefore, it would be a no-brainer to compute the outcome: cash in the two bets (one after the other in either sequence), then take the proceeds and bet that amount on the same outcome. In effect the two bets would be consolidated into one, without the bettor having to make three transactions. The result would be less clutter on the bettor's My Predictions screen.
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