Even with only four of us, this is going to be complicated to organise. So, with a strict squad rotation system, each player will be in charge of the kitty for a week.
However, with this power comes responsibility. When in charge of the pot, each player must bet one fifth of the total pot.
When in charge, the player must...
1. Ensure total value for all bets made must be exactly and no more than 20% of total kitty
2. Bet at least 5% of kitty value on each bet.
3. Make no more than 3 bets.
4. Have listed bets by 01.00 on Saturday morning of their betweek, or forfeit their turn.
5. Bet on something on Betfair, but it can be anything the player wishes,. As long as it is a market that will be settled before the end of the next gameweek. (Ideally, I reckon all bets should be ones that will be settled within the player's own gameweek, but it may be that this isnt always feasible (cup replays, two-legged games, Test matches etc) so I am willing to be a little flexible about this if it makes sense to.
When it is a player's betting week, they can bet on anything from 10.00am on the Saturday of their week, until the end of their week, as long as it is listed by the deadline. A Player week commences at midday on Friday and ends at midday the following Thursday. Its probably worth insisting that all bets are at least £5 in value also. So initially, with a £20 stake (fifth of £100) 2 x £5 and 1 x £10 is OK, but if we find ourselves with £50 in the pot, we dont want to see 1 x £4 and 2 x £3 or whatever, because that isnt betting that's timewasting.
All bets must be posted on the website by the deadline and/or emailed to the other three players to be valid.
The eagle-eyed may have noticed that there are no rules about collecting winnings. Well, what I propose is that we keep track of all bets won and lost, and come up with a table based on tipping success. Then, on the last day of the Premiership football season, we can split the pot fourways, with an emphasis on success.1st place - 30% pot
2nd place - 27% pot
3rd place - 23% pot
4th place - 20% pot
Sorry if the rules are a bit gay, advise as necessary.
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