gaurav92 Posted May 18, 2012 Posted May 18, 2012 ICF INSURANCE MARKET Open for The playoffs. Premium Structure for the Playoffs have been revised Premium charts for favourites [TABLE=head]Betting Amount|Coverage %|Premium % (of betting amount)|Maximum Claims permissible|Average Clause applicable Upto 200 millions|100|15|200 Millions|Yes 200-500 millions|100|15|500 Millions|Yes 500-1 billion|80|12|800 Millions|Yes 1-5 billions|60|8|3 Billions|Yes 5-10 billions|60|7|6 Billions|Yes 10-20 billions|50|6|10 Billions|Yes >20Billions|50|5|50% of betting amount|Yes [/TABLE] Premium charts for non favourites [TABLE=head]Betting Amount|Coverage %|Premium % (of betting amount)|Maximum Claims permissible|Average Clause applicable Upto 200 millions|100|18|200 Millions|Yes 200-500 millions|100|18|500 Millions|Yes 500-1 billion|80|15|800 Millions|Yes 1-5 billions|60|12|3 Billions|Yes 5-10 billions|60|10|6 Billions|Yes 10-20 billions|50|8|10 Billions|Yes >20Billions|50|5|50% of betting amount|Yes [/TABLE] Hope you all like it :icflove: Favourites for the games KKR v/s CSK : KKR Premium chart for non favourites [table=head]Betting Amount|Coverage %|Premium % (of betting amount)|Maximum Claims permissible|Average Clause applicable Upto 200 millions|50|12|100 Millions|Yes 200-500 millions|50|10|250 Millions|Yes 500-1 billion|50|10|500 Millions|Yes 1-5 billions|40|8|2 Billions|Yes 5-10 billions|40|7|4 Billions|Yes 10-20 billions|30|5|6 Billions|Yes >20Billions|30|5|30% of betting amount|Yes [/table] Premium chart for favourites [table=head]Betting Amount|Coverage %|Premium % (of betting amount)|Maximum Claims permissible|Average Clause applicable Upto 200 millions|50|10|100 Millions|Yes 200-500 millions|50|10|250 Millions|Yes 500-1 billion|50|10|500 Millions|Yes 1-5 billions|45|8|2.25 Billions|Yes 5-10 billions|45|7|4.5 Billions|Yes 10-20 billions|40|5|8 Billions|Yes >20Billions|40|5|40% of betting amount|Yes [/table] Favourites for the games PWI v./s KKR : KKR RCB v/s DC : RCB MI v/s RR : MI Rules You have to disclose the amount you are ready to bet, team on which you are ready to bet, and the acceptance of the contract in your post in order to get insured against the side. Also deposit the premium in my account as an acceptance to offer. New Things 1. No full coverage : The cover percentage is maximum 50% which means you will enjoy both getting insured and the thrill of betting and the risk of losing half your money. For higher stakes, the risk cover is only 30% which means the main essence of betting is not lost. 2. Two premium table, one for favourites and other for the non favourites. So if you are betting on favourites (as predicted by me), you will be insured against the non favourites and the table favourites will come into play. Opposite is the case if you bet on the non favourites. 3. Application of average clause. Some punter may change his mind at the last moment and don't bet the full quota. Suppose he got insured for 100 millions on a particular side (with premium of 10 Millions and risk cover of 50 millions), and decided to bet only 50 Millions and loses his bet, he wont get the entire 50 millions he lost. He will get 50% of the 50 millions which he lost - so he will come under average clause and will get 25 millions only. I hope the rules are clear and it will bring in new punters along with the current bunch. The ICF Betting thread just got its first insurance agent :bow: Got a heart attack when placed your bet on Bambis who keep stretching the target till the last ball? Got spikes when Dilli went berserk to chase 187 set by Dhakkans inside 16 overs? Now no more as you sit back, relax and enjoy winning either way :D Firstly, you must be familiar with the rules, here they are : 1) Firstly, you will have to post "I am interested" here on this thread. After this, a premium will be decided which you will have to pay, to get the insurance cover depending on your ICF$ balance and the appetite to bet. The premium will be for only that game and not the whole of IPL. Extra premium will be charged for another game. You can issue a joint policy for the entire IPL, but that would cost you higher premium :D 2) Then, you decide the team on which you gonna stake, The insurance would obviously be if the outcome is opposite. A fixed %age of the stake(money invested by you on the team) will be paid. The percentage is fixed for all the games covered in the policy. 3) If your team loses, you will be paid a percentage the amount staked by you, provided you claim for it via PM, post on the thread. In case you win, you don't get paid anything :aetsch: 4) If you do not claim during the entire IPL (Only for joint policy), a no-claim bonus will be paid to you which will also be a fixed percentage of your premium. 5) In case you get ambitious and want to revise the stake amount, the premium will vary and extra premium needs to be paid. These are general terms that you should know. However certain conditions and FAQs that you might have. What is a premium? Premium is the price you pay to get insured against a particular outcome in a match. It will be different for different ICFers depending on the capacity to bet. remember the whole ICF$ balance in your account will be considered while deciding premium amount irrespective of your willingness to invest all in bets. Whether premium is a fixed percentage of the ICF$ balance? No, it is decided considering a mix of several factors : Risk taking ability, money in hand, willingness to bet, history in betting etc. It will be decided by me, and then you decide whether to get insured or not. What if I insure for the entire IPL? In that case, the entire Playoff will be covered, and in case there is any loss incurred in bets, a fixed percentage of the loss would be paid. What is the fixed percentage of claim that is paid? The fixed percentage will be pre-decided at the time of entering into insurance agreement. Is it for winner, most 6s, highest opening stand too? No it is only for match winner bets. :D What if I placed my bet on both the outcomes? Then you are royally screwed and no claim will be paid to you :D. Also if you ****ed up by placing the bet on the wrong team, you get nothing :aetsch: The process at a glance : -> Anyone interested will post "I am interested". Whether he wants for individual matches or the entire playoffs should be clarified first. Also tell the team on which you are placing your bet and upto what amount. The insurance will obviously be for the team on which you have not placed your bet (in case they win). -> Premium will be decided by me and posted here. Also the fixed percentage of claim will be posted along with the premium amount. -> Then you decide whether to insure yourself or not and pay the premium if you are interested. -> If you forgot to bet, you are ****ed :hehe:. -> if the bet thread was not available, then you will be refunded the premium. (However, I will make sure the threads are there well in advance :D) -> You will claim the amount you invested in case you lose your bet, and the fixed percentage of it will be paid to you. -> The policy will be different for different games, so make sure you decided it before the play offs. The most important condition : The Claim cannot exceed fixed percentage of the ICF$ balance you had while entering into agreement with me. Also in case of a tie/washout (not games finished in super over), no premium will be paid back to the insured. No bargaining of premium is allowed, on thread or via PM. :nono: So in case you decide to take loans from others, place a bet and ask for claims, you get a :finger: Any queries? Ask it in the thread itself, some time to go for playoffs, I am sure many would like to increase their ICF$ balance by insuring themselves against the unpredictable IPL clashes. Insurance agreement must be entered into on or before 21st May 2012 (8 pm IST, a day before the playoffs) so that there is no confusion later on. SO you will have to post the requests very quickly. Trades [table=head]Sr. No.| Username|Match|Team against|Premium|Claims Payout %|Claims permissible|Status 1.|Tdigi|Rajasthan Royals v/s Deccan Chargers|Deccan Chargers|600,000,000|100%|7,400,000,000|Paid 2.|mishragreat|Rajasthan Royals v/s Deccan Chargers|Deccan Chargers|15,000,000|100%|85,000,000|Paid 3.|DumDumDigaDiga|Rajasthan Royals v/s Deccan Chargers|Rajasthan Royals|3,000,000|100%|10,000,000|- 4.|Lord|Rajasthan Royals v/s Deccan Chargers|Rajasthan Royals|23,000,000|100%|100,000,000|- 5.|DumDumDigaDiga|Pune Warriors India v/s Kolkata Knight Riders|Pune Warriors India|3,000,000|50%|15,000,000| 6.|Lord|Pune Warriors India v/s Kolkata Knight Riders|Kolkata Knight Riders|12,000,000|50%|50,000,000|Paid [/table]
gaurav92 Posted May 18, 2012 Author Posted May 18, 2012 Choir har kisi ko chor hi samajhta hai :cantstop: Sir jee poora padh ke toh dekhiye :--D
Old guy Posted May 18, 2012 Posted May 18, 2012 saale ca :omg: it was kind of my idea :D should be free for me :D
Prakat Posted May 18, 2012 Posted May 18, 2012 Chalo I am interested. :hmmm: But, I want coverage for my entire exposure. Insurance is insurance esp because I am paying a premium.
gaurav92 Posted May 18, 2012 Author Posted May 18, 2012 Chalo I am interested. :hmmm: But, I want coverage for my entire exposure. Insurance is insurance esp because I am paying a premium. It will cover the entire ICF$ balance you have while placing the bet (on which the premium will be decided). So it covers you in every aspect, what else do you want?
gaurav92 Posted May 18, 2012 Author Posted May 18, 2012 saale ca :omg: it was kind of my idea :D should be free for me :D Idea is nothing without a devised plan on paper :D Sirf insurance ka idea dena aasaan hai, but usko apply karke implement karna for ICF is tough which I did, so no freebies for you :beee:
ganeshran Posted May 18, 2012 Posted May 18, 2012 Abe saale if you give risk cover on a 50% probable event, your premium would have to be ridiculously high to make money out of it. Insurance works when your risk is spread out and the probability of it happening is low enough to pay the few claimants out of premium paid by everyone and still make a profit.
Old guy Posted May 18, 2012 Posted May 18, 2012 Idea is nothing without a devised plan on paper :D Sirf insurance ka idea dena aasaan hai, but usko apply karke implement karna for ICF is tough which I did, so no freebies for you :beee: its my idea! :mad: pay me royalties :beee: or i will call the mods :((
gaurav92 Posted May 18, 2012 Author Posted May 18, 2012 Abe saale if you give risk cover on a 50% probable event, your premium would have to be ridiculously high to make money out of it. Insurance works when your risk is spread out and the probability of it happening is low enough to pay the few claimants out of premium paid by everyone and still make a profit. Yes, that is why it involves huge risk from my side. I cannot keep the premium very high as punters may not be interested then.
gaurav92 Posted May 18, 2012 Author Posted May 18, 2012 its my idea! :mad: pay me royalties :beee: or i will call the mods :(( I izz a mod :D And what royalties huh? First mere millions daba ke baitha hai, and then claiming to own my idea :mad:
gaurav92 Posted May 18, 2012 Author Posted May 18, 2012 Chalo those interested can play a dummy(not real) for better understanding. Place the name of the team and amount you want to bet for today;'s game.
bulbul Posted May 18, 2012 Posted May 18, 2012 Whos Ponzi ? :dontknow: the guy who operated SBL during the SA series when Sachin got 200 :giggle:
Old guy Posted May 18, 2012 Posted May 18, 2012 I izz a mod :D And what royalties huh? First mere millions daba ke baitha hai, and then claiming to own my idea :mad: bhai u have 32 billions :(( this is not fair this idea could ve made me billionaire here but no u stole it mods lock this thread this is illegal scam :mad: my idea and im not even any compensation ...infact he is power abusing with his mod status :shout: tidigi said its corruption free icf now but now this this is one sad day for icf
Magneto Posted May 18, 2012 Posted May 18, 2012 I want coverage for today :hitler: :hitler: I've bet all my money already :((
Nova Posted May 18, 2012 Posted May 18, 2012 I am interested and would like to bet my entire balance (8 billions +) on the next match here. What is the premium for me and how much money will I get back in case I lose? Please provide figures for both teams.. i.e RR and DC. Good initiative. :nice:
Magneto Posted May 18, 2012 Posted May 18, 2012 bhai u have 32 billions :(( this is not fair this idea could ve made me billionaire here but no u stole it mods lock this thread this is illegal scam :mad: my idea and im not even any compensation ...infact he is power abusing with his mod status :shout: tidigi said its corruption free icf now but now this this is one sad day for icf Go on a hunger strike/protest. I'll support you. Just provide me with some evidence that you're speaking the truth.
Recommended Posts