Topic: [ANN][XBet.IO] - The world's first distributed betting application - escrowed (Read 16225 times)

xbet.io is down, does anyone know what is going on with the website?

What is the fee split for somebody using your Oracle program to publish and settle bets?

wow , this is a bet game?

Great service. However I'm a french player and your website say " It appears that you are located in a country in which we are legally unable to provide services.
If you are using Tor Browser from a country in which the use of this website is allowed, please press the green "New Identity" button and this problem will be solved immediately. "

As Bitcoin is not a currency in France, you may accept us

Hi Jpja,

We are happy you had fun betting on XBet.IO, that's what it's all about.

Our short term plans are to add sports types and enhance the user experience.

We have also recently launched a new service allowing BTC holders to bet directly with BTC, by simply sending it to an address dedicated to their bet.

This eliminates the need of buying XCP or opening a Counterwallet account prior to betting and is a major enhancement as it eases the adoption of XCP for first time users.

CFDs and other implementations of the Counterparty protocol are a future task.

I made some bets on the world cup. It worked very well, and I'm amazed by the potential.

What are your future plans? Personally, I'd be happy to see bets on the bitcoin price, gold price, S&P 500, etc. Binomial bets should be easy to implement, but CFDs would be awesome.

Thank you for your feedback.

We are on it.

The Captcha just keeps asking for me to input the code. Also, the tutorial crapped out.

Today's matches:




Place your bets!

xbet.io have made some big additions to their website.

this is their new control panel for users.

really helped me understand what was going on with my bets and it works perfectly with counterwallet.


https://i.imgur.com/5LKllSh.png


and also one for past bets

https://i.imgur.com/xIQ0RJg.png


I am betting on the world cup only with the only truly safe betting application.

We have enhanced our user interface.

It is now possible to view all of your betting information, past and future, dirctly from XBet.IO.

Hi everyone,

We have added a support chat on XBet.IO for your convenience.
If you have any question regarding XBet.IO and how to use it, or just want to talk about the world cup and the NBA finals, we welcome you to the XBet.IO chat.

I provided some market for yesterday's matches and won some XCP... Glad to see that the system works flawlessely !

won some sweet coins for Netherlands match.


What an unbelievable goal by Van Persie!!!!

You could also buy some XCP on the Dex using counterwallet, if you don't want to use a centralized platform like poloniex or bter.

And in fact, anybody running bitcoind and counterpartyd (both open source) on their own PC can place bets using the Counterparty protocol using the XBet.io feeds.  The web interface for the Counterparty wallet (aka Counterwallet) is open-source as well, and it can be placed on any computer and work just like it does at counterwallet.co.

The Counterparty developers have focused on a web interface first.  It is open-source as well.  https://github.com/CounterpartyXCP/counterwallet

Everything discoverable on the XBet.io website is also discoverable using a user-compiled counterparty installation.

The only thing centralized is the Xbet.io feeds to resolve bets.  If Xbet.io turns rogue, it could upset a bunch of bets.  However, since they are taking a cut of every bet, it is in their long-term interest to maintain a good and honest service

Just saw this article.

http://www.bestbitcoincasino.com/xbet-io-enables-sports-bets-using-blockchain-and-counterparty-xcp/

The website is mearly a user friendly interface to display the results of matches and coordinate between users' bets to match.

Bets are settled on the blockchain and are placed through users' private wallets, whether using a federated node of Counterwallet or from bitcoin-qt with open source counterparty software on it.

Funds are held in escrow so you do not have the vulnerabilities of traditional centralization.

If it is decentralized, then why it is running on a website ? Website is centralization. It should work on a P2P model to be decentralized.

You can view the state of the market on XBet.IO by pressing the "market" link, that is available next to each line inside a match page.

In XBet.IO you are required only to fill out your address and the amount you would like to place as wager.

The 10 that is already there is the "odds" field. To determine the counterwager that will fit the odds that you wish to take, XBet.io presents an "odds" field that fits the display standards of the betting industry.

Odds are filled for you to match the most attractive offer corresponding to your bet type, however, you can change Those as well.

For example, if you place a "Back" type bet, with "amount" set to 10 and "odds" set to 4, you are in fact placing 10 XCP as wager, and 30 XCP as counterwager. That means that if another user, or users place a "Lay" type bet, with odds matching yours or better, at the sum of at least 30 XCP ( 15 from one user + 15 from another is fine too), your bet would be fully matched at the odds you chose.

More information about "Back" and "Lay" is featured on XBet.IO by pressing the "i" symbols next to the "back" and "lay" labels.

A well put answer, thank you cityglut.

Important questions were asked about XBet.IO and we will address them here.

https://bitcointalksearch.org/topic/m.7273811


The odds that are displayed on XBet.IO are one of two:
1. User based odds that are open and can be matched by anyone on the network.
2. Odds that are backed by XBet.IO in order to create a market for the first user to place a bet in a new market.

You and you alone choose your own odds, other users can choose to accept them.
If you place a bet where you expect to receive 2 XCP for every XCP that you place as a bet, you will never be matched by a lower offer, only by a better one. The relevant odds for such a bet are those decided by the first user that has placed his bet.

I've tried out Counterwallet and Xbet. I'm amazed by both 

Wrote a positive review on my blog.
http://jpja.net/2014/06/counterparty-adds-betting-to-bitcoin/

Yes, you will need XCP. It is easy to buy on:

https://poloniex.com/exchange/btc_xcp
or
https://bter.com/trade/xcp_btc

After you have bought some XCP, create a wallet on:
http://counterwallet.co/

Then withdraw your XCP to Counterwallet and then you're good to go.

So you need counterparty coins to bet with?

+1

just used it and it works like a charm.

go brazil!!!!!

XBet.IO mentioned in a Coindesk article:

http://www.coindesk.com/bitcoin-betting-kicks-brazil-world-cup/

Site is looking good.

I came across a helpful introductory guide to using Xbet posted by user knircky over in the counterparty forums

http://knircky.blogspot.com/2014/06/peer-to-peer-sportsbetting-in-5-steps.html

A suggestion : Since the goal (and the fun) is to bet each other, a good idea would be to publish oddsshark.com odds (or another big bookmaker odds) below every match, so you can suggest a realistic odd when there are "not bets yet" Correct me if I'm wrong but it is in your intrest for the bets to be as fair as possible since you only take 1% of the resolved bets.

This is a good idea. added to our "to do" list.

This looks like it's going to be popular.

Plans for betting on the NFL? Especially the Superbowl the largest MoneyPool every year for gambling?

I've given it a try. It was really easy after I watched the 1 minute video.

Are you planning to add a feed which shows the 'live' bets as they are being made as each block rolls by?

This is a good idea, we have added it to our "to do" list.

Thank you. Real professional work here.

In the futures improvements, you might add different odds display styles like fractional or Moneyline (for the americans) This could be chosen in a menu to avoid confusion, so you just display the selected style.

We do provide liquidity on the market, our goal though, is for users to bet amongst themselves.

Placed some bets today, both Xbet & counterwallet worked like a charm... Now we'll see after the results how it turns out !

Do you provide some liquidity on the market or do we have to wait for someone to lay/back our bet ?

OP: awesome

-a link to counterparty.co / counterwallet would be good
-the descriptions when hovering over the various possible bets are rather cryptic: "click this if you think draw will Not be the result of Win"

what's different with just-dice?

Cool.I like the  NBA option.

I'm not a everyday gambler myself but I was waiting for a site like this for ages. I might as well give this a go with some bets for the World cup. I specifically like how we can set odds ourselves.

Great bet platform, the real innovation of bitcoin cycle

Site looks good, will give it a try later today.

Very good news that we can now bet with our BTC. I'm going to follow this very closely, hope to see the site a little more developed like the leading sports betting sites (Sky and Bet365 etc) A bit cheap looking at the moment IMHO. Not fudding it tho its brilliant!

btc   nxt   ltc

interest this coin，I will check it when you launch

This actually is a very great idea! Since it works with Bitcoin protocol, the only currency, that has something to offer, it may very much enrich the network. Thank you for the time you put into this application. It's awesome!

I'll test it today and provide my feedback afterwards.

Brazil to the moon !

changing the world

VERY GOOD

Bitcoin to the mooooooooooooooooooooooooon!!!!!!!!!!!!!!!!!!!!!!


XCP to the mOoooooooooooooooooooooon!!!!!

For the first time it is now possible to perform Bitcoin-based betting in a decentralized fashion, meaning without the need of entrusting your funds in the hands of a third party – all wagers made using our application are held in escrow by a smart contract until the bet is settled.

edit: Betting directly with BTC is now possible on XBet.IO. Making your first bet is now as easy as sending some BTC to a dedicated address.

Live on XBet.IO


Among the benefits:
Secrecy:
Users have complete anonymity when using our services.
 
Security:
Users' funds are kept safe at the protocol level – thanks to the use of Bitcoin 2.0 technologies, the users are not required to transfer their coins into the custody of any application, and there is no centralized party that holds and manages users funds (no Mt.gox etc').
 
Transparency:
Because the application works using the Bitcoin Blockchain, all of its actions are visible to anyone and can be retraced by anyone with great ease.
 
Reliability:
The Counterparty protocol, which is the Bitcoin 2.0 protocol in which XBet.IO is implemented, is based on secured Bitcoin transactions, thus utilizes the Bitcoin network's highly secured and dependable features.
 
General Bitcoin benefits:
The use of Bitcoins holds numerous advantages over fiat currency (such as $, €, etc') - anonymity, independence, no inflation, cryptographic security, instant payments for any amount, and much more. Up until now, Bitcoin did not reach its full potential in existing large scale thriving industries, in which its special attributes gives it a distinctive edge and especially in the field of sport bets. The existence of a distributed and cryptographically secured system in which the operators of a betting application, or anyone else for that matter, have no ability to take / confiscate users funds, but can only decide which one of the participants is the winner of the pot is what distinguishes the XBet.IO application from any and all other sport betting websites, whether Bitcoin-based or Fiat-based. Introducing the sport bets industry into the world of Bitcoin can elevate the Bitcoin economy to great new heights.
 
Better odds:
For any wager, there is a counter wager, commonly referred to as 'The House wager' or 'Lay'. In old fashioned betting websites and casinos, the user bets against the house in the fixed unattractive odds determined by the 'House', and so the 'House' gains if and when the user looses. The XBet.IO application synchronizes users' bets and allows users to choose their own odds and bet directly between users. There is no middleman, thus all arbitrage revenue is there for the users to profit.
* In order to kickstart the application, counter wagers will be made on behalf of the XBet.IO application for bets that are- a. within the odds presented by the website as a non-organic odds (organic, meaning that a verified bet has been placed by a user); b. in lines where no odds-attractive, organic bets exist. This mechanism was set in place for a double purpose – both to allow users to know the real world odds for their wager and to ensure that the first attractive betters of every line will always have their offers matched for at least a portion of their wager.

 
What wagers can I make?


How many times did you get to see a match and said to yourselves "I don't know who will win, but I know there will not be a tie"? In the XBet.IO application you can choose to wager on the option that you think will happen and also for the opposite option, meaning everything but the specified result. For the aforementioned case, it is possible to place a bet that will award you with the pot in case of a draw (placing this kind of bet is called 'back', meaning that you are 'backing' the possibility of a draw),  or alternatively, you could place a bet that will award you with the pot in all cases except the draw, which means that it does not matter which team wins, as long as the result is not a draw, you will take the pot (placing this kind of bet is called 'lay', meaning that you are 'laying' an opposition to the possibility of a draw).
The XBet.IO application currently receives matches from all the major soccer and basketball leagues, including the 2014 world cup in Brazil. At this time the XBet.IO application analyzes results from over 200 different leagues from dozens of countries.
During the summer, the main event will be the 2014 world cup in Brazil, and the NBA finals.
Incorporating additional lines, sports and countries is already in play.
 
How to make a bet?
Check out this one minute tutorial and you will be good to go:
https://xbet.io/how_to_bet
1.       Browse through the various lines available on the XBet.IO application until you find one that you want your make your bet on.
2.       Insert the details of the bet that you want to make (your betting address, wager amount and your desired odds. All other details are preconfigured to match the bet type which you have selected).
3.       Paste the bet code in your account at Counterwallet.co and hit send.
Done!
Your bet has now been placed and can be matched by other users from the Bitcoin network.
 
Since the XBet.IO application is based on the Bitcoin blockchain, and implemented using the Counterparty protocol, in order to use it, one must acquire some Bitcoins and as many XCP as one would like to place as wagers. All wagers, counter wagers and pots are denominated in the form of XCP, which is the native currency of the Counterparty protocol. It is possible to acquire XCP through a traditional exchange service, such as BTER.COM or, and it could also be purchased using Counterparty's built-in decentralized exchange.
Placing bets, buy/sell orders on the decentralized exchange, and many other options are made easy through a free service called Counterwallet- a user friendly online wallet, built by the Counterparty protocol original developers.
 
Some of our future plans:
1.       Incorporating additional sports, starting with tennis and horse racing.
2.       Incorporating global events.
3.       Expanding the betting possibilities for each single event.
4.       Binary options.
5.       Issuance of the XBet.IO application on top of the Counterparty protocol.


What is new since the PRE ANN?
As you might have noticed, a test version on testnet was publicly available since may under the name CounterSports.com. Since then, we have made the following enhancements:
Improved UI.
Integrated fully with Counterwallet.
Added the NBA finals and other basketball leagues.
Changed domain, logo and branding.
Completed intense testing on the application.

Live on XBet.IO

Affiliates Program
We are proud to announce the XBet.IO affiliate program.

If you too are excited by Bitcoin, Bitcoin 2.0 technology and the promise it entails, come and earn some money of it.
As affiliates in XBet.IO's affiliate program, you will receive 20% of the fees collected by XBet.IO from users referred by you. For life!
For additional details and signup, press here.

A bounty for 100 XCP will be given to the highest rated affiliate at the end of the world cup!
A bounty for 50 XCP will be given to the 2nd highest rated affiliate at the end of the world cup!
A bounty for 10 XCP will be given to the 3rd highest rated affiliate at the end of the world cup!

edit:
Place your bet using Counterwallet - https://counterwallet.co

What does the press has to say?

http://www.bestbitcoincasino.com/xbet-io-enables-sports-bets-using-blockchain-and-counterparty-xcp/


Users' content
http://jpja.net/2014/06/counterparty-adds-betting-to-bitcoin/
http://knircky.blogspot.com/2014/06/peer-to-peer-sportsbetting-in-5-steps.html
Reddit : http://www.reddit.com/r/Bitcoin/comments/27u0u7/peer2peer_betting_with_bitcoincounterparty/
Added chinese language support (credit goes to amy_bit)-
counterparty中国志愿者论坛出品：如何使用xcp参与bet
http://8btc.com/forum.php?mod=viewthread&tid=5750&page=1&extra=#pid16181