Post by Miege22 on Aug 17, 2021 16:20:53 GMT -5
Hey guys,
I brought this idea up to the Power Rankings committee, and it seemed to have a generally positive reception, so I wanted to bring it to the whole league. How would everyone feel about adding a "championship bet" feature to the league? Basically, title odds would be released prior to the season based on the committee's post-FA rankings. Everyone would be able to place a bet on any one team to win the title. Some other rules:
-Odds released one week prior to start of season.
-Owners will have one week to place bets. Once the season starts, the window closes.
-One bet can be placed for any amount UP TO $250,000
-If a team wins, they will receive only the winnings (typically, payout includes what was put in; since the payout is happening the following year, they've already "received" the bet back... so if someone places a $250,000 bet on a team with 2-1 odds and wins, they would get an additional $500,000 on the salary cap for the following year)
-Teams can do whatever they want with the winnings. It's theirs.
-Teams cannot trade their bets. If someone throws down $250,000 on a team with 15-1 odds, they can't turn around and include that potential payout in a deal.
Teams wouldn't have to bet if they don't want to, but I thought it might add to the playoff drama. Any bet placed would have to use existing cap space (so you can't place a $250,000 bet if you only have $50,000 in cap space). For reference, here's an idea of what odds might have been last year, and the payout on a max bet:
Tampa Bay Bull Sharks - EVEN
Houston Rockets - EVEN
Seattle Supersonics - 3/2
OKC Thunder - 2/1
Portland Trailblazers - 2/1
Memphis Grizzlies - 2/1
Boston Celtics - 5/2
Miami Heat - 5/2
Minnesota Timberwolves - 3/1
Golden State Warriors - 3/1
Chicago Bulls - 4/1
Utah Jazz - 5/1
Atlanta Hawks - 5/1
Washington Wizards - 5/1
Kansas City Kings - 8/1
Orlando Magic - 8/1
Colorado Swannies - 8/1
Toronto Raptors - 10/1
Las Vegas Gamblers - 15/1
Brooklyn Nets - 15/1
EVEN - $250,000
3/2 - $375,0000
2/1 - $500,000
5/2 - $625,000
3/1 - $750,000
4/1 - $1,000,000
5/1 - $1,250,000
8/1 - $2,000,000
10/1 - $2,500,000
15/1 - $3,750,000
If you "win" you would receive the money to use the following season. It's not an exorbitant payout, but if you threw down some money on, say, the Bulls or Kings, you would have been glued to these playoffs lol. And unless something crazy happens this offseason, I'm not sure we'd have two teams next year with EVEN odds.
I'm not putting this up to a vote, I'm more just asking what people think. If no one is interested in doing something like this, we won't bother adding it as an option.
I brought this idea up to the Power Rankings committee, and it seemed to have a generally positive reception, so I wanted to bring it to the whole league. How would everyone feel about adding a "championship bet" feature to the league? Basically, title odds would be released prior to the season based on the committee's post-FA rankings. Everyone would be able to place a bet on any one team to win the title. Some other rules:
-Odds released one week prior to start of season.
-Owners will have one week to place bets. Once the season starts, the window closes.
-One bet can be placed for any amount UP TO $250,000
-If a team wins, they will receive only the winnings (typically, payout includes what was put in; since the payout is happening the following year, they've already "received" the bet back... so if someone places a $250,000 bet on a team with 2-1 odds and wins, they would get an additional $500,000 on the salary cap for the following year)
-Teams can do whatever they want with the winnings. It's theirs.
-Teams cannot trade their bets. If someone throws down $250,000 on a team with 15-1 odds, they can't turn around and include that potential payout in a deal.
Teams wouldn't have to bet if they don't want to, but I thought it might add to the playoff drama. Any bet placed would have to use existing cap space (so you can't place a $250,000 bet if you only have $50,000 in cap space). For reference, here's an idea of what odds might have been last year, and the payout on a max bet:
Tampa Bay Bull Sharks - EVEN
Houston Rockets - EVEN
Seattle Supersonics - 3/2
OKC Thunder - 2/1
Portland Trailblazers - 2/1
Memphis Grizzlies - 2/1
Boston Celtics - 5/2
Miami Heat - 5/2
Minnesota Timberwolves - 3/1
Golden State Warriors - 3/1
Chicago Bulls - 4/1
Utah Jazz - 5/1
Atlanta Hawks - 5/1
Washington Wizards - 5/1
Kansas City Kings - 8/1
Orlando Magic - 8/1
Colorado Swannies - 8/1
Toronto Raptors - 10/1
Las Vegas Gamblers - 15/1
Brooklyn Nets - 15/1
EVEN - $250,000
3/2 - $375,0000
2/1 - $500,000
5/2 - $625,000
3/1 - $750,000
4/1 - $1,000,000
5/1 - $1,250,000
8/1 - $2,000,000
10/1 - $2,500,000
15/1 - $3,750,000
If you "win" you would receive the money to use the following season. It's not an exorbitant payout, but if you threw down some money on, say, the Bulls or Kings, you would have been glued to these playoffs lol. And unless something crazy happens this offseason, I'm not sure we'd have two teams next year with EVEN odds.
I'm not putting this up to a vote, I'm more just asking what people think. If no one is interested in doing something like this, we won't bother adding it as an option.