But hope you manage to pull it off as its high time the traditional sportsbooks who make millions and offer bad value to punters were disrupted!
Will you also be regulated to Oracles for event result determination?
Topic: Bookie - Sports Betting Exchange on the Blockchain Wants Your Input - page 3. (Read 957 times)
January 19, 2018, 12:22:36 PM
Not quite sure how you will get away with not being classified as a betting exchange certainly from what I read about UK gaming law.
But hope you manage to pull it off as its high time the traditional sportsbooks who make millions and offer bad value to punters were disrupted!
Will you also be regulated to Oracles for event result determination?
But hope you manage to pull it off as its high time the traditional sportsbooks who make millions and offer bad value to punters were disrupted!
Will you also be regulated to Oracles for event result determination?
January 18, 2018, 12:55:52 AM
Thanks again for the questions! Will jump right in...
Hi Wind_FURY, good questions.
Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps):
The same can be achieved by your centralized counterparts, so there is no added value in using a blockchain there.
With a centralized architecture, there is always a single authority who decides what transactional information is released and when (if ever).
By using the Peerplays blockchain as back-end, Bookie as a matter of fact has full, public, real-time disclosure of all transactions. This is built in to the tech - every bet
By the way, does anyone know of any centralized sportsbooks or exchanges that offer full, public disclosure of every transaction in real-time? We haven't heard of any, but interested to hear others' experience.
OP, do you really need censorship resistance and go through the inefficiencies of the blockchain only to set up a sports betting exchange? What is the value proposition of this idea and what difference does it make if I use a regulated counterpart of your service that accepts Bitcoins and altcoins?
Hi Wind_FURY, good questions.
Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps):
- Provably fair - All source code for Bookie will be available on Github. No secrets.
- Real-time transparency - All Bookie bets published on a public ledger in real-time. No more doubts or arguments about what bet was or was not made, what the stakes were, for how much, etc.
The same can be achieved by your centralized counterparts, so there is no added value in using a blockchain there.
With a centralized architecture, there is always a single authority who decides what transactional information is released and when (if ever).
By using the Peerplays blockchain as back-end, Bookie as a matter of fact has full, public, real-time disclosure of all transactions. This is built in to the tech - every bet
By the way, does anyone know of any centralized sportsbooks or exchanges that offer full, public disclosure of every transaction in real-time? We haven't heard of any, but interested to hear others' experience.
It is not a question of who is first to do it but does it give your service more value. But I am sure an argument can be made for yes it can and no it does not. But if your service is tied with gambling, I believe some things must remain private.
You will also for sure have problems with scaling some time in the future
Thanks to the Dmo09 for bringing up how DPoS & Graphene allows the Peerplays blockchain to scale (up to 10,000 transactions per second and beyond).
More info (including the BitShares stress test) can be found here:
https://www.peerplays.com/resources/#graphene
I will look into this. I know there are some top Bitcoiners who argue that DPOS sacrifices some decentralization, and plain POS is not a very good way to secure blockchains. I will read up on them and come back.
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced.
Hope that answers your questions!
I could see some benefits of censorship resistance in your service. A good example of it would be if you are running an illegal and unlicensed P2P betting exchange. Are you running one?
The Bookie app is being developed by PBSA (that's us!) - check out http://bookie.exchange/ for the back story.
Once released, the Bookie app will be downloaded by end users and connect to the Peerplays blockchain, which takes care of all bet matching and settlement. The Peerplays blockchain is fully decentralized. PBSA has no operational or executive role in its operation. Independent "Witnesses" run the Peerplays blockchain (https://www.peerplays.com/governance/#witnesses).
So... No. PBSA is not running a betting exchange, unlicensed or otherwise.
But this is new tech and it doesn't fit neatly into established, traditional models. We really appreciate people like Wind_FURY taking the time to help us explain the disruptive tech behind Bookie and Peerplays.
You are playing loop the loop with the regulators. Hahaha. But does the service have a token? It reminds me a lot like the DAO, in how everything is set up.
January 17, 2018, 03:20:23 PM
I'm glad more decentralized sports betting are arriving these days, they will be a really improvement in terms of trust and security in the online betting community. As for your questions, I usually only bet on football, and tennis, so for me those would be enough. Major European leagues would be mandatory in football, as well as Champions o course. As for tennis, I would settle with grand slams and major tournaments. I like seeing a good option of markets, but they are useless if they don't have liquidity, so I'm ok with the basics as well. There is something I really like, that is the ability to lay teams, since it opens a lot of opportunities in sports betting, and normally results in better odds. Are you going to allow bets against and in favor in your markets?
Hi Bolt Brownie,
Thanks for sharing your thoughts, and for your interest in Bookie.
To answer your question: Yes, Bookie will allow users to Back or Lay any selection (team/player).
This feature - allowing users to take either side of a bet - sits at the core of the betting exchange experience. It provides users with a much more flexible way of interacting with betting markets, compared to the traditional sportsbook model.
As you correctly point out, liquidity is a key requirement for any functioning betting exchange. Part of the Bookie development effort is directed at providing well-documented APIs so that market makers can bring liquidity to Bookie, in the same way as occurs with existing exchanges. More news on this in the coming months.
January 17, 2018, 02:21:55 PM
OP, do you really need censorship resistance and go through the inefficiencies of the blockchain only to set up a sports betting exchange? What is the value proposition of this idea and what difference does it make if I use a regulated counterpart of your service that accepts Bitcoins and altcoins?
Hi Wind_FURY, good questions.
Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps):
- Provably fair - All source code for Bookie will be available on Github. No secrets.
- Real-time transparency - All Bookie bets published on a public ledger in real-time. No more doubts or arguments about what bet was or was not made, what the stakes were, for how much, etc.
The same can be achieved by your centralized counterparts, so there is no added value in using a blockchain there. You will also for sure have problems with scaling some time in the future, unless your solution is not to have a large userbase. But how would you attempt to solve that if you do?
Quote
- Decentralization - assuming posters here see the benefits of a decentralized currency
... we think there are similar upsides to bringing decentralization to sports betting. And a betting exchange (P2P) is a great fit for decentralization, as opposed to a sportsbook/house model which is de facto centralized.
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced.
Hope that answers your questions!
I could see some benefits of censorship resistance in your service. A good example of it would be if you are running an illegal and unlicensed P2P betting exchange. Are you running one?
Graphene / DPoS / Peerplays have no problem scaling.
https://hackernoon.com/explain-delegated-proof-of-stake-like-im-5-888b2a74897d
https://bitshares.org/technology/delegated-proof-of-stake-consensus/
As mentioned in a previous reply, thanks again for bringing up the scaling abilities of the Peerplays blockchain!
January 17, 2018, 02:11:46 PM
Thanks again for the questions! Will jump right in...
Hi Wind_FURY, good questions.
Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps):
The same can be achieved by your centralized counterparts, so there is no added value in using a blockchain there.
With a centralized architecture, there is always a single authority who decides what transactional information is released and when (if ever).
By using the Peerplays blockchain as back-end, Bookie as a matter of fact has full, public, real-time disclosure of all transactions. This is built in to the tech - every bet
By the way, does anyone know of any centralized sportsbooks or exchanges that offer full, public disclosure of every transaction in real-time? We haven't heard of any, but interested to hear others' experience.
You will also for sure have problems with scaling some time in the future
Thanks to the Dmo09 for bringing up how DPoS & Graphene allows the Peerplays blockchain to scale (up to 10,000 transactions per second and beyond).
More info (including the BitShares stress test) can be found here:
https://www.peerplays.com/resources/#graphene
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced.
Hope that answers your questions!
I could see some benefits of censorship resistance in your service. A good example of it would be if you are running an illegal and unlicensed P2P betting exchange. Are you running one?
The Bookie app is being developed by PBSA (that's us!) - check out http://bookie.exchange/ for the back story.
Once released, the Bookie app will be downloaded by end users and connect to the Peerplays blockchain, which takes care of all bet matching and settlement. The Peerplays blockchain is fully decentralized. PBSA has no operational or executive role in its operation. Independent "Witnesses" run the Peerplays blockchain (https://www.peerplays.com/governance/#witnesses).
So... No. PBSA is not running a betting exchange, unlicensed or otherwise.
But this is new tech and it doesn't fit neatly into established, traditional models. We really appreciate people like Wind_FURY taking the time to help us explain the disruptive tech behind Bookie and Peerplays.
OP, do you really need censorship resistance and go through the inefficiencies of the blockchain only to set up a sports betting exchange? What is the value proposition of this idea and what difference does it make if I use a regulated counterpart of your service that accepts Bitcoins and altcoins?
Hi Wind_FURY, good questions.
Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps):
- Provably fair - All source code for Bookie will be available on Github. No secrets.
- Real-time transparency - All Bookie bets published on a public ledger in real-time. No more doubts or arguments about what bet was or was not made, what the stakes were, for how much, etc.
The same can be achieved by your centralized counterparts, so there is no added value in using a blockchain there.
With a centralized architecture, there is always a single authority who decides what transactional information is released and when (if ever).
By using the Peerplays blockchain as back-end, Bookie as a matter of fact has full, public, real-time disclosure of all transactions. This is built in to the tech - every bet
By the way, does anyone know of any centralized sportsbooks or exchanges that offer full, public disclosure of every transaction in real-time? We haven't heard of any, but interested to hear others' experience.
You will also for sure have problems with scaling some time in the future
Thanks to the Dmo09 for bringing up how DPoS & Graphene allows the Peerplays blockchain to scale (up to 10,000 transactions per second and beyond).
More info (including the BitShares stress test) can be found here:
https://www.peerplays.com/resources/#graphene
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced.
Hope that answers your questions!
I could see some benefits of censorship resistance in your service. A good example of it would be if you are running an illegal and unlicensed P2P betting exchange. Are you running one?
The Bookie app is being developed by PBSA (that's us!) - check out http://bookie.exchange/ for the back story.
Once released, the Bookie app will be downloaded by end users and connect to the Peerplays blockchain, which takes care of all bet matching and settlement. The Peerplays blockchain is fully decentralized. PBSA has no operational or executive role in its operation. Independent "Witnesses" run the Peerplays blockchain (https://www.peerplays.com/governance/#witnesses).
So... No. PBSA is not running a betting exchange, unlicensed or otherwise.
But this is new tech and it doesn't fit neatly into established, traditional models. We really appreciate people like Wind_FURY taking the time to help us explain the disruptive tech behind Bookie and Peerplays.
January 17, 2018, 11:42:50 AM
I would really like to see options for betting on Oscar winners (Academy Awards)!
Possibly also betting for the Emmy and Grammy show down the road, but Oscars is definitely the biggest!
Possibly also betting for the Emmy and Grammy show down the road, but Oscars is definitely the biggest!
Hi gandalfs,
Very fun idea. Could certainly be something we look into one day. Thanks for the message!
January 17, 2018, 08:40:12 AM
I'm glad more decentralized sports betting are arriving these days, they will be a really improvement in terms of trust and security in the online betting community. As for your questions, I usually only bet on football, and tennis, so for me those would be enough. Major European leagues would be mandatory in football, as well as Champions o course. As for tennis, I would settle with grand slams and major tournaments. I like seeing a good option of markets, but they are useless if they don't have liquidity, so I'm ok with the basics as well. There is something I really like, that is the ability to lay teams, since it opens a lot of opportunities in sports betting, and normally results in better odds. Are you going to allow bets against and in favor in your markets?
January 17, 2018, 12:57:10 AM
OP, do you really need censorship resistance and go through the inefficiencies of the blockchain only to set up a sports betting exchange? What is the value proposition of this idea and what difference does it make if I use a regulated counterpart of your service that accepts Bitcoins and altcoins?
Hi Wind_FURY, good questions.
Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps):
- Provably fair - All source code for Bookie will be available on Github. No secrets.
- Real-time transparency - All Bookie bets published on a public ledger in real-time. No more doubts or arguments about what bet was or was not made, what the stakes were, for how much, etc.
The same can be achieved by your centralized counterparts, so there is no added value in using a blockchain there. You will also for sure have problems with scaling some time in the future, unless your solution is not to have a large userbase. But how would you attempt to solve that if you do?
Quote
- Decentralization - assuming posters here see the benefits of a decentralized currency ... we think there are similar upsides to bringing decentralization to sports betting. And a betting exchange (P2P) is a great fit for decentralization, as opposed to a sportsbook/house model which is de facto centralized.
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced.
Hope that answers your questions!
I could see some benefits of censorship resistance in your service. A good example of it would be if you are running an illegal and unlicensed P2P betting exchange. Are you running one?
Graphene / DPoS / Peerplays have no problem scaling.
https://hackernoon.com/explain-delegated-proof-of-stake-like-im-5-888b2a74897d
https://bitshares.org/technology/delegated-proof-of-stake-consensus/
January 16, 2018, 11:46:04 PM
OP, do you really need censorship resistance and go through the inefficiencies of the blockchain only to set up a sports betting exchange? What is the value proposition of this idea and what difference does it make if I use a regulated counterpart of your service that accepts Bitcoins and altcoins?
Hi Wind_FURY, good questions.
Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps):
- Provably fair - All source code for Bookie will be available on Github. No secrets.
- Real-time transparency - All Bookie bets published on a public ledger in real-time. No more doubts or arguments about what bet was or was not made, what the stakes were, for how much, etc.
The same can be achieved by your centralized counterparts, so there is no added value in using a blockchain there. You will also for sure have problems with scaling some time in the future, unless your solution is not to have a large userbase. But how would you attempt to solve that if you do?
Quote
- Decentralization - assuming posters here see the benefits of a decentralized currency ... we think there are similar upsides to bringing decentralization to sports betting. And a betting exchange (P2P) is a great fit for decentralization, as opposed to a sportsbook/house model which is de facto centralized.
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced.
Hope that answers your questions!
I could see some benefits of censorship resistance in your service. A good example of it would be if you are running an illegal and unlicensed P2P betting exchange. Are you running one?
January 16, 2018, 10:39:11 PM
I would really like to see options for betting on Oscar winners (Academy Awards)!
Possibly also betting for the Emmy and Grammy show down the road, but Oscars is definitely the biggest!
Possibly also betting for the Emmy and Grammy show down the road, but Oscars is definitely the biggest!
January 16, 2018, 03:16:32 PM
OP, do you really need censorship resistance and go through the inefficiencies of the blockchain only to set up a sports betting exchange? What is the value proposition of this idea and what difference does it make if I use a regulated counterpart of your service that accepts Bitcoins and altcoins?
Hi Wind_FURY, good questions.
Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps):
- Provably fair - All source code for Bookie will be available on Github. No secrets.
- Real-time transparency - All Bookie bets published on a public ledger in real-time. No more doubts or arguments about what bet was or was not made, what the stakes were, for how much, etc.
- Decentralization - assuming posters here see the benefits of a decentralized currency ... we think there are similar upsides to bringing decentralization to sports betting. And a betting exchange (P2P) is a great fit for decentralization, as opposed to a sportsbook/house model which is de facto centralized.
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced.
Hope that answers your questions!
January 16, 2018, 02:52:07 PM
I'm not really a fan but I think MMA is pretty popular...
Based on the responses, you appear to be correct.
Thanks for the answer!
January 16, 2018, 02:40:44 PM
World Cup 2018 would be the best event to kick it off with.
We plan to launch before then, but great idea!
January 16, 2018, 02:32:54 PM
E-sports add would be a really good choice. esports betting has seen unprecedented growth over the past few years with games like League of Legends, Dota 2, Counter Strike and many more competitive games.
You're not the first to suggest eSports. The level of interest is, well, interesting.
January 16, 2018, 02:20:34 PM
This is the second sports book coming to the ethereum blockchain and starting that way with an exchange platform.
This is good for the business and will bring alot more players to your sites who use crypto.
I have not seen very many sites as they are scattered all over the place and have lost interest in most.
But yours looks promising and you already have a customer base here from the sounds of it with the previous posters congratulating you for making your "arrival" on bitcoin talk forums, finally.
This is good for the business and will bring alot more players to your sites who use crypto.
I have not seen very many sites as they are scattered all over the place and have lost interest in most.
But yours looks promising and you already have a customer base here from the sounds of it with the previous posters congratulating you for making your "arrival" on bitcoin talk forums, finally.
Hey, thanks for the message and for your interest!
We are actually built on the Peerplays blockchain, which is built on Graphene technology.
And you're right about another thing - we have a great, active community! And we're happy to have you as a potential new member of said community
January 16, 2018, 01:54:54 PM
El Clasico (Real Madrid - Barcelona) is on May 6th. Would be great to test the app with that event. I've read that only in Spain, betting is about $25 millions for that event only.
Good suggestion! That's a fair amount of betting for one event.
January 16, 2018, 01:46:05 PM
I basically only interested in football NFL but super bowl is nearly around so it does not make any sense to add it from the beginning and rather concentrate sport event which occur after the official launch of bookie.
I would like to see
soccer: Champions League and Europe League and of course world championship
Olympic summer games
and events I don´t know any dates:
esports: dota, lol, cs:go
boxing and ufc
I would like to see
soccer: Champions League and Europe League and of course world championship
Olympic summer games
and events I don´t know any dates:
esports: dota, lol, cs:go
boxing and ufc
Super Bowl would have been great for 2018 but we'll just miss it. And good clarification of the soccer leagues that interest you. Thanks!
January 16, 2018, 10:30:57 AM
Something special would be to bet on the next LOL or DOTA 2 championship. A lot of crypto enthusiasts are gamers. The pricepool for the 2017 DOTA2 tournament "The international" was stunning 25 Million USD (source https://www.esportsearnings.com/comparisons/zcdd-dota-2-vs-lol).
sportbetting
e-sportbetting
I'm not sure if there is any possibility to bet on esport yet.
sportbetting
e-sportbetting
I'm not sure if there is any possibility to bet on esport yet.
I second this.
Never in my lifetime would I have thought that "eSports" would become so legit and mainstream. Think about a decade ago even, there were barely anyone in the world making a living only from playing video games professionally and now we have $25,000,000 tournaments?! Incredible.
I think lots of younger folk would be betting on these things.
Yes you should consider E-sports, you totally will have a market worldwide. I do not came across a site that allows us to bet on our favorite team and if you add it you will be first of its kind.
Also you may add boxing and MMA fights i know the competition is tough on those sports but I am pretty sure there will still be bettors if your market is worldwide.
Good luck to your project.
Another person interested in e-sports. Interesting. Boxing and MMA are definitely very popular. Thanks for your suggestions, and thanks for the good luck message
January 16, 2018, 08:11:15 AM
Slightly off topic, but something along these lines:
http://www.espn.com/chalk/story/_/id/21958147/gambling-westgate-supercontest-winner-claims-13-million-prize
http://www.espn.com/chalk/story/_/id/21958147/gambling-westgate-supercontest-winner-claims-13-million-prize
That's interesting for sure. It's not something we can launch with, but definitely something a bit different.
January 16, 2018, 08:04:08 AM
Something special would be to bet on the next LOL or DOTA 2 championship. A lot of crypto enthusiasts are gamers. The pricepool for the 2017 DOTA2 tournament "The international" was stunning 25 Million USD (source https://www.esportsearnings.com/comparisons/zcdd-dota-2-vs-lol).
sportbetting
e-sportbetting
I'm not sure if there is any possibility to bet on esport yet.
sportbetting
e-sportbetting
I'm not sure if there is any possibility to bet on esport yet.
I second this.
Never in my lifetime would I have thought that "eSports" would become so legit and mainstream. Think about a decade ago even, there were barely anyone in the world making a living only from playing video games professionally and now we have $25,000,000 tournaments?! Incredible.
I think lots of younger folk would be betting on these things.
That does sound incredible! I think this is something we'll have to look into on a deeper level. Thanks for the response.
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