Topic: eSports Live $10k, Bet on eSports & more with low fees or create your own casino (Read 336 times)

Money from lost bets goes to the winning players for each event rather than to a house.

As the one who issued the stablecoin and holds the $10k which is owed to the coin holders, the only way I make money is that until I sell them, I hold a large number of coins and so make money from the appreciation of those coins as fees reduce the coins in circulation.

But I see your point that having the coin slowly go up in price vs USD prevents it from being perfectly stable and is confusing.  There is a way I could change this so that fees go to the stablecoin operator rather than the coin holders.  This essentially makes the stablecoin operator into a house and so kind of goes against the original concept of creating a betting system with no house.  On the other hand this change gives the "house" a way to make money which helps make this into a sustainable business.  Betting still works without money being sent to a central party so this is still substantially more decentralized than a traditional betting system.

I don't know if that's the first because it's really the first of its kind that I've heard.

Yeah bitcoin's network is secured so that's why there's no problem of using it rather than other coins but you can't create your 'bucks' on its network. But if you really can create that with Litecoin, I'm not technically versed with it so it should be as you've said.

Yes, I agree with you that instead of switching to bitcoin rather than adding or enable more cryptocurrency deposits would do the job smoothly and save some time in working to switch it to bitcoin. Enabling bitcoin deposits and other cryptocurrency is the same as switching to another cryptocurrency to use or pay for the game.

If the house does not receive a but, what does it live off? Lost bets? And I find this concept of a cryptocurrency rather confusing. If it's a stable coin, the whole point of it is to be as stable as fiat while actually being crypto. What I am saying is that it's not supposed to rise or drop in terms of the price. You, on the other hand, say that this stable coin's supply is slowly destroyed, while the USD dollar backup remains. Where does this 'destroyed part' come from? I hope it's not people losing their coins, because of the system, right? And what's the point of making less of a coin that is growing in price (once it does)? I am not sure that the investors will find it appealing. Could you perhaps explain this part? I just never heard of anything like it.

I also don't know of any coins running on Litecoin. Maybe this is a first?

This is a protocol for colored coins.  This particular crypto asset is roughly pegged to the dollar hence the name "bucks" but uses trace amounts of litecoins to represent ownership.  Running on Bitcoin/Litecoin gives all the security and cryptographic functionality of those blockchains.  The colored coin protocol is needed for the decentralized betting functionality which relies on "burn addresses" where bets are placed by burning coins to your own address matching the format associated with the option that you're betting for.


Bitcoin deposits and withdrawals are already enabled.

Buying in, placing bets and withdrawing are pretty simple at the UI level.  If it seems complicated to you, I recommend trying the software.  I'm hoping to refine my presentation on how to explain this so that people can understand it easily.

Why would you really like to complicate things up? Just simply enable bitcoin deposits and let it do the job without boggling your mind.

First time of hearing and seeing that there's this currency that runs on Litecoin. Because most of the tokens that were created on different platforms, if its not made of ethereum, it was made of EOS, TRX or Nano.

Why not just accept Litecoin directly instead of running it on with a name of 'bucks'?

Truly I have found this site very interesting to me. There are lots of arrangements to help provide the best experience of the user. I like the features of this site and the site's graphics design has been of good quality by visiting this site. There are also some interesting offers here which will attract people.

Is the issue that no one wants to hold USD until their bet resolves, or that people are expecting to get ripped off on the conversion or something?

Based on the feedback here so far, I'm considering switching to a BTC pegged in-game currency called mBTC worth 1/1000 of a bitcoin each.  Deposits/withdrawals will no longer depend on the USD/BTC exchange rate so it will be easier to see that there's no deposit/withdrawal fees.  I want to make sure I understand your objection(s) first though.

I think there no one on this forum did able to try the site and making a bet because at first,its never been an appealing thing if you don't really make bets directly with BTC.
You are still required to some conversion and I heavily agree on what said above that bitcoin is already capable on such manner.

Has anyone tried placing a bet and willing to share their experience?

The advantages are:

• Low fees, and fees go to coin holders rather than a business owner.
• This is an open source P2P app which can you can install on your own computer.
• You can create your own betting currencies.
• By running your own node you can fork any coin where you disagree with consensus on the outcome of a betting event.
• This app has nice wallet and blockchain explorer features which you can use for viewing BTC/LTC data or managing your bitcoins/litecoins (or any other blockchain based on the Bitcoin code).
• This app does a great job of handling all the complexity of the blockchain and makes creating a new P2P betting currency as easy as integrating a data source or uploading a CSV file.

As I sell bucks, I will hold on to those deposits, so would have up to $20k in the business account if a majority of bucks were to be sold.  I am operating with no expenses because the important thing at this point is proving the concept, and I have another source of income.

This is parimutuel betting and all bets are between players.  There is no house holding onto funds.  When you place a bet, you actually destroy coins to one of your own addresses and then the protocol creates new coins to the winning addresses when each event pays out.  The 1% fee is paid to all coin holders via deflation rather than being kept by a house.

Parties holding onto the backing funds are a point of centralization but are not involved in the betting and should not be confused with the house in a traditional sportsbook.


This is a platform which makes it easy to create a currency and betting functionality is built in at the protocol level for these currencies.

In eSports Live $10k, "bucks" run on Litecoin and each bet creates a Litecoin transaction.  We could run on Bitcoin instead but TX fees would be $1-$2 per TX, compared to Litecoin where we can get transactions with 20+ bets confirmed for 0.0001 LTC = 1 penny.


We already have BTC payments & withdrawals built in.

There is some risk since this is a new app with lots of functionality.  But a lot of steps have been taken to make sure nothing goes wrong like holding backing funds in a traditional bank account and keeping only some BTC on public nodes and transferring the remainder to offline wallets.  We also have done comprehensive security reviews and did a bug bounty program for finding vulnerabilities and so are highly confident that the app is secure.

Even though this coin is not tradable on exchanges, you can still buy & sell your coins for BTC by trading with public nodes.

My opinion is that their stable coins may have a future in gambling society and may be more advantages to other online casinos or sportsbook out there. I do agree with you about the cleanliness of their site and also have the same question as you as I am curious about their site and also I played Dota 2 game which they also have it in their site.

What is the advantages of your site to other online casino? I guest this is another normal sport book can you provide us some good feature of your esport site personally I like the cleanliness of your site but I dont understand how its really work.

House fee on sportsbooks and house edge for casinos is similar in some ways because that's where most owners get their profits from. The small difference between them is house edge reduces the chances of winning and the payout while the house fee only reduces the payout.

Normal sportsbook that offers esports always have a high fee ranging from 3% to 6%. Having a 1% fee beats all sportsbook but one problem on polycash is that the supply is limited there's only a couple hundred bucks available for sale.

A house fee is where they cut a portion of your winning in a certain bet it's way far different from a house edge and Esports gambling site doesn't have a house edge.


I have been into Esport and just like a normal sportsbook, I think the odd varies on who are the competitors.

Agree the coin should just be Bitcoin backed. I think people who do crypto gambling just prefer Bitcoin for some reason.

Also,,, 1% house fee is this the same as 1% house edge? What do your odds compare to normal sportsbooks? In sports betting, people just care about the juice,,, if you have the lowest margins and you payout and settle with no issues, that is how you get people to bet with you, no other reason.

Why in the world would I invest in a coin that is not yet tradable in the market op? This is very risky since there is always a chance that your coin could fail which would lead to heavy losses for all the investors.

This is basically another form of gambling itself on top of gambling in your site. I suggest adding BTC as a payment option asap in order to attract more gamblers. If not, this is not the right board for this thread.

Great that you are honest and is willing to tell how much much money the casino has, but what will happen if the users win more money than the $10.000 the betting site is back with, does the site have additional funds to back up the business so it can provide security that everyone will be paid?