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The new CEO is here | LoungeVC

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Hello everyone! Today, we at Lounge Venture Capital would like to announce quite alot of information and news towards the public. So we will rather keep it short and sum it up, so we're going to start with the first one which is going to be the new CEO. As some of you might remember, two weeks ago Lounge VC started searching to hire a new CEO where as everyone could apply for the position. Until now, @Assassin has been in charge of everything such as for Human Resources and the financial part. Thanks to @Bangas and @Assassin and the perfect mentoring sessions I've gotten, I'll be officially in charge as the new Lounge VC CEO.


During the past week, I was able to meet and get to know alot of people inside Lounge and I'm very happy to be able to work together with every single one of them. In 7 years of SAES, I highly regret that I haven't been able to meet that team before! But that's just one out of many news!


Here's a quick overview for all news regarding Lounge VC:



  • Announcement of the new Chief Executive Officer (CEO)

  • Announcement of the new Chief Technology Officer (CTO)

  • A new bet system

  • A new weapon to be used in future Lounge Matches

  • Race Wars

  • Future Vacancies



In addition to the new CEO, we're more than glad to announce @DezZolation as our future Chief Technology Officer (CTO). Already within days he managed to re-innovate our old betting system to a new one completely. Which is going to benefit both, the customers and the companies' side! We're looking forward to a bright future together with DezZo at our side.



A new bet system? But what does that mean exactly?



  • We have decided to shift to a new system of betting for a few reasons:

  • We felt that closing the bets early is unfair to people who are not as active.

  • We felt that we could provide better odds for most matches.

  • We wanted to create a game where players bet against each other, as intended, instead of betting against Lounge.


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This is why we decided to transition our betting system to parimutuel betting. This has two major implications for you:
We wont work with fixed odds anymore, we rather provide approximations. This means that we can provide you with approximate odds at a specific moment in time but they do not necessarily reflect the final odds. The approximations are there for you to judge how other players are currently betting and what you could get out of your bet with that information, they are not binding. Only when we close all bets as a match starts will we publish the final odds.


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You are now able to place unrestricted bets. There is no maximum to the amount of money you are allowed to bet and we will never close betting.


All in all we want to create a friendlier game experience for anyone. It will certainly ask more from us, as we will try to keep the approximations as up-to-date as we can! Lounge will continue striving to bring you the best entertainment experience in SAES as possible. This is our mission!



An example case: If the new bet system was implemented last week, the final odds for HS vs TT wouldve been: 1,71 to 2,27, (calculated amongst all confirmed bets), and the odds for a draw would have been 11,09. That means someone who bet 3 Million on a draw would now receive over 33 Million if the match ended in a draw. On the older bet system, he'd only get 9 Million as the odds were fixed. Because of the approximations, we can't tell you right from the start what the odds are as they completely depend on who is going to bet on who. If you contact any Lounge Executive or Bet Service Employee from Lounge VC we can always name you the exact odds on the exact time you're asking for the odds. But we will also try to keep the odds updated on our topic and visible on our discord!


To sum it up:


No more closing of bets and generally higher payouts. The system is going to be implemented after the matches between TT and HS, so next tuesday



Then, as this wouldn't be enough we'd like to introduce the MP5 as the new useable weapon in future lounge matches. The weapons you can use are now as follows:


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We can't wait to see how you're going to use it ingame and with what tactics! Goodluck everyone!



RaceWars,


is coming to San Andreas! That's right! You'll be able to race for the championship! The event will be hosted in association with raceTECH. RaceWars will be hosted over 4 weeks (4 Saturdays) with 3 races taking place on each day for a total of 12 races for the tournament. Every Gang/Squad who at least reached level 1 will be able to enter the tournament.


There will be 3 racers per team with at least 2 backup racers who will be the substitute if one of the primary racers is unable to race. If the team has the worst case scenario, for example not having 3 racers at the day, you might aswell race with only 2. You can still get those juicy points for your team!


All points gained will be tallied up for drivers individually. The points for the teams will be all of the drivers combined. What does that mean to you? There's two types of championships: The "Driver" - and the "Team" Championship.


Bets can be placed on drivers before the tournament starts only, not during it. Bets can be placed each week on which team will score the most points over the course of the 3 races.


The Tournament winners will be decided on the total points occurred, if points are even, whoever has the most race wins will be the winner. If it occurs to still be a draw, there will be 1 final race to decide the winning team/driver.


To sum it up:


-- Please note that changes can and probably will occur --



  • RaceWars is becoming it's own subforum just as gangwars. Future announcements will be made!

  • Duration: 4 Weeks in total, over 4 Saturdays.

  • Races: There will be 3 races taking place on each day for a total of 12 races for the tournament.

  • Requirement: Your Gang/Squad has to be at least level 1.

  • Teams: Each team has 2 primary, and 2 secondary drivers as substitute.

  • Points: Points gained will be tallied up for drivers individually. The points for the teams will be all of the drivers combined.

  • There's two titles to claim: The drivers championship and the team championship!

  • Bets on drivers can only be placed before the tournament starts only, not during! Bets on the teams can be placed each week on which team will score the most points over the course of the 3 races.

  • Tournament winners will be decided on the total points occurred.


Huge thanks and a big shout out to @Jay (and @zaza) who has been working hard in creating the tracks and the main structure of RaceWars. So, once again, thank you Jay!


As of today, due to the current gang wars going on we do not have an ETA when it's going to start, so please stay tuned!
However: Jay already provided us with an image of how the team standins might look like, which will be the same for the driver standins, so as you can see, we're working hard on getting it as quick as possible started for you!


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Have you ever wondered how to be a part of Lounge VC? Are you interested in joining us? Well, truth be told, as of until now, there was no real option to join or any way to apply. As of today we are going to change our recruitment process. From now on, you can apply for future vacancies. What that means is pretty simple, you're applying for future spots within our company. You fill-in the information required and once we have an open spot in the desired division we may get back to you.


For our recruitment process, please click on this link and visit our other topic.



If you have any questions regarding all of the news above, please let us know! We'll be more than happy to answer any open questions. Join our discord by clicking on the picture below and contact our customer service directly!


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We at Lounge VC wish you happy and safe days!


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