Any player, defined as anyone who bothers to post, will start with
1000 Coins. 1000 is also the maximum wager allowed without special permission. You may go into debt, to a maximum of 5000, again unless you get special permission. Exceptions are generally granted only for particularly dramatic gambles, not every time you really want 2000 on this fight or have dug yourself too deep a hole.
You may place wagers at any time, but they must be based on observable, objective facts, such as who will win or with how many HP. Any ratio is allowed, such as betting 10:1 a character will win without taking damage or 1:3 a given character won't make it to the third tier.
To avoid confusion:
Update is a GM posting more fights. Generally not relevant for gambling purposes.
Round is each opposed dice roll of a fight.
Fight is a complete battle between two characters.
Tier is each layer of pairings- the number of fights a character who's still around has won is equal to the number of tiers they've fought in.
Sealing a wager with another player requires three posts, ideally in a quote pyramid: Offer, Accept, and Confirm.
The Offer is self-explanatory: "Anyone willing to bet this" or "Hey you, how about this?"
The Accept is also self-explanatory: "Sure" or "FOOL YOU HAVE SEALED YOUR DOOM"
The Confirm is just the original offerer making an official quote pyramid of the relevant agreement. It's used as an official step and to avoid, for instance, three people agreeing to your bet when you just wanted one.
Hey anyone want to bet this?
Sure!
Confirmed
Any amount of negotiation is allowed, the three pieces listed above are simply necessary components for the wager to officially be recorded and count.
The confirm step must be bolded. DO NOT MAKE VAGUE WAGERS. Unless otherwise stated, it can be assumed that the amount put up is an equal double-or-nothing offer, but when things start to get complicated, it pays to explain everything, such as which side of 2:1 or 500 for 700 each person is on.
Once bets are in, they are in unless both parties agree to take them off. Retracting a wager is the original, confirmed wager with an added layer of one player requesting it be removed and the other with a bolded
Retracted statement.
You may wager against the House. However, the House is not a fool and has little confidence in its own mathematical abilities, and as such will only accept wagers that are perfectly even or based on obvious mathematical principles. For instance, if there are 32 characters, each one initially has a 1 in 32 chance to win, and a 1:32 ratio for a given character winning everything is acceptable (that is, you wager 1,000 and receive 32,000 should the character win the tournament.
Ending with the most money is the closest a player can come to "winning," aside from seeing a character they like win or a character they hate torn limb from limb in a gruesome manner. When the tournament is over, a list of players arranged by wealth will be created.