Topic: [Concept Idea] Gamblevest - A new way to gamble and invest at the same time. (Read 119 times)

I was thinking of introducing a capped pot.

The capped gambling amount (the maximum funds that can be put into a pot -also voted by the community) should be below the "not worth it" factor for developers who are thinking about sabotaging their current project to unfairly win huge riches.

So lets say 50k USD cap was voted by the community because the developers have invested 500k into the project already. They will not sabotage their 500k project to win the 50k pot. It won't be worth it. And instead, it would be worth it to bet on their success because they would win money to further finance their project.

I think you'd need to make something that could handle the developers too in betting for or against themselves (especially because they stand to make the most profit based on their bet imo).

I don't know how useful this is as an idea but I thought you were going to suggest offering games where a certain amount (say the jackpot or the house edge) was invested in a company the user picked (and split between you and them, or just held by you with them making a fraction back if it does well). This could still be manipulated (unless you had something like a 2% house edge where 1%is invested or something but it might be an interesting concept as the wagered amount can get quite high from a single deposit and 1% of that could be fairly big for a "risky" investment).

I am thinking about setting up a new type game for decentralized and non-custodial crypto gambling. One which combines investing in new (blockchain or non blockchain) start-ups. Eventually we will partner with start ups who will offer winning bonuses to the winners (and perhaps even the losers), in exchange the partnered start-up will be gaining marketing exposure and public audit data from the community.

You can join a bet AGAINST or FOR the success of start-up companies.

But before I start offering this idea of mine in the gambling section, I would very much like to hear feedback and I appreciate any tips or advice you  guys can give me.

Explaination:

Basically you profit twice, if you win:

- 1x from winning the bet and receiving the loser bet funds.
- 1x from the optional bonuses offered by partnered start-ups (for example: winners receive free extra BTC and the privilege of investing into company shares at discounted rates - Rules and Guidelines TBA.)

How the game works:

Obviously there are two groups for betting: either "Vest" or "No Vest". It will be based on a pot system with "No Vest" or "Vest" betting sides. "No Vest" pot is for betting that a certain startup-project's roadmap goal will not be reached in a fixed amount of time, (to be pre-bet specified by the start-up's officially given deadline). The "Vest" betting group will gamble on the roadmap's goals being met in time by putting their bets in their fund pot. The winning group will receive the other group's funds.

This goals of the roadmap must be defined within specified boundaries by the community and agreed upon by the start-up.

The distribution of winnings will follow a simple formula:

If your group loses the bet, the money you betted will be forfeited to the adversary group but you may receive bonuses for gambling, based on how much you bet.
If your group wins the bet, then you will receive: P*b/B of adversary pot's funds with P = all adversary pot funds, b = (your) individual bet amount and B = total fund amount in your group's pot.

Example:

You bet 100 USD in the "Vest group" of "Start-Up X" because you believe that the start-up can achieve their first working MVP withing 3 months. The entire "Vest Group Pot" is $1000 USD. The adversary group, "No Vest" loses their 3000 USD pot because the start up reached its goal of completing a working MVP with all the demanded specifications. So the winners are the "Vest Group" and you receive  1/10th of that 3000 USD. So 300 USD winnings. Yay.

In order to automate the process, I will need to learn the process and future requirements for developing an automated platform with voting mechanisms which regulate the process. I will escrow the Pot Funds until then, in the beginning of alpha phase.

The funds will be Bitcoin and at a later time, other altcoin options will be implemented, as well as a house coin/token (TBA) consolidated by underlying Bitcoin assets

Basically this new gambling will be based on helping new start-ups gain exposure and give the investors a community based audit system provided by the gambling community and gambling community. Thereby greatly outsourcing project research efforts and project audits to the community.


Business plan:

Winnings will be deducted by escrow service fee of 0.9% + transaction cost and sent to your specified Bech-32 Bitcoin address.  

Of course before I start this gambling service I will inform myself of the regulatory requirements. Although once it goes decentralized and non custodial, I am sure we will see the easing of government regulations.

I will be using this thread to keep everyone updated.