It's behind a paywall, so excuse the screenshot:
https://egr.global/technology/news/bitcoin-first-sports-betting-exchange-launches/
Topic: Exbet is LIVE >> The Bitcoin Betting Exchange [exbet.io] - page 16. (Read 13799 times)
Hey folks, just wanted to share this nice write-up from leading gambling industry publication EGR on Exbet launch.
It's behind a paywall, so excuse the screenshot:
https://egr.global/technology/news/bitcoin-first-sports-betting-exchange-launches/
It's behind a paywall, so excuse the screenshot:
https://egr.global/technology/news/bitcoin-first-sports-betting-exchange-launches/
It understandable that gambling site can not operate outside the rules and regulations in the contract of their Master license holder but I dont understand why you guys have to charged a certain 1% commission fee on users net winning in the market not on the house.
Hi hulla
Charging a commission fee is standard for betting exchanges. That's how the exchange covers its operational costs.
The fee is structured so that users don't pay commission in markets where they do not make profit.
There is no house on a betting exchange - users place bets against each other.
Hope that helps!
Regards
The Exbet Team
Your UI looks very different than Betfair (...)
It does indeed in the overview for a league, which is a bit confusing I agree, but the specific markets have the same layout as other exchanges:
Source: https://exbet.io/market/1.24.3797
I am waiting for the day you come here without advertising your exchange in the Exbet thread, it's so obvious
That is not true. Look at any Degens.com or Betfair.com market.
Exbet is doing it a different way for some reason, which is caushing the confusion.
We appreciate your honest answer. Finally somebody who is fair and admit the KYC must be completed after a decent amount. I did not know it was 2500.
It seems this company wants to do everything according to the rules of the license and respects the rules of the government in Curacao.
This example should be followed by more sites. It is also better that these KYC procedure are clear stated, instead of being surprised when you want to withdraw a big sum.
It seems this company wants to do everything according to the rules of the license and respects the rules of the government in Curacao.
This example should be followed by more sites. It is also better that these KYC procedure are clear stated, instead of being surprised when you want to withdraw a big sum.
Hi Arcas!
Yes, we want to respect the terms of our Curacao license - we take that very seriously.
And we also want to respect our users, by being honest about what our license requires us to do.
We invite questions, and will do our best to answer.
Regards
The Exbet Team
Is KYC necessary in beginning? If it is not, I will sign up and deposit some funds to try.
hey deadley!
KYC is not required at the beginning.
All that is required to sign up and deposit is a functioning email. To enable withdrawals for the account you will need to verify your email address (by clicking on a link that we email to you). If the user wants to withdraw or deposit more than (BTC equivalent of) 2500 USD then a one-time KYC authorization is necessary.
All this is laid out in clause 5 of the Exbet T&Cs - we tried to be as up-front as possible about KYC requirements, but please let us know if there are more Qs.
Thanks!
Good to know especially if you are not that heavy gamblers who can stay below $2500 you can continue enjoying using the platform without the needs of verifying your identity.
Question though, is this applies only to gambler who wanted to withdraw that certain amount or it also applied case to case, I mean the KYC, any chance that it will be applied to anyone?
Most cases with suspicious activities inside the site, I understand that site owners
have the right to investigate to the point of asking for KYC.
Hi Fredomago
Suspicious activities are indeed something that need to be reported by the obligations of our license. There are no hard rules for what counts as "suspicious" - but we need to be able to report in a way that aligns with AML guidelines, which means keeping options open to do KYC at any time. We advise checking out the Exbet T&Cs available at exbet.io for specific details. Clause 5 in particular tries to be as clear as possible about KYC scenarios.
Regards
see above, never have understood the layout.
There is no need for both options in a two way market, betfair do it as well, Jackson Jags option is redundant it is not needed.
There is no need for both options in a two way market, betfair do it as well, Jackson Jags option is redundant it is not needed.
Your UI looks very different than Betfair (...)
It does indeed in the overview for a league, which is a bit confusing I agree, but the specific markets have the same layout as other exchanges:
Source: https://exbet.io/market/1.24.3797
I am waiting for the day you come here without advertising your exchange in the Exbet thread, it's so obvious
Is KYC necessary in beginning? If it is not, I will sign up and deposit some funds to try.
hey deadley!
KYC is not required at the beginning.
All that is required to sign up and deposit is a functioning email. To enable withdrawals for the account you will need to verify your email address (by clicking on a link that we email to you). If the user wants to withdraw or deposit more than (BTC equivalent of) 2500 USD then a one-time KYC authorization is necessary.
All this is laid out in clause 5 of the Exbet T&Cs - we tried to be as up-front as possible about KYC requirements, but please let us know if there are more Qs.
Thanks!
Good to know especially if you are not that heavy gamblers who can stay below $2500 you can continue enjoying using the platform without the needs of verifying your identity.
Question though, is this applies only to gambler who wanted to withdraw that certain amount or it also applied case to case, I mean the KYC, any chance that it will be applied to anyone?
Most cases with suspicious activities inside the site, I understand that site owners
have the right to investigate to the point of asking for KYC.
Congrats on your launch!
Your UI looks very different than Betfair or Degens though, and I can't understand why you would create the UI in a non standard way.
This pic below is how betfair, matchbook and degens all display a market. No other site displays markets like exbet.
Your UI looks very different than Betfair or Degens though, and I can't understand why you would create the UI in a non standard way.
This pic below is how betfair, matchbook and degens all display a market. No other site displays markets like exbet.
Thanks sportbettor!
You can read the detailed Review of Exbet.io here: http://100bookies.com/exbet-io-review/
We appreciate your honest answer. Finally somebody who is fair and admit the KYC must be completed after a decent amount. I did not know it was 2500.
It seems this company wants to do everything according to the rules of the license and respects the rules of the government in Curacao.
This example should be followed by more sites. It is also better that these KYC procedure are clear stated, instead of being surprised when you want to withdraw a big sum.
It seems this company wants to do everything according to the rules of the license and respects the rules of the government in Curacao.
This example should be followed by more sites. It is also better that these KYC procedure are clear stated, instead of being surprised when you want to withdraw a big sum.
Hi Arcas!
Yes, we want to respect the terms of our Curacao license - we take that very seriously.
And we also want to respect our users, by being honest about what our license requires us to do.
We invite questions, and will do our best to answer.
Regards
The Exbet Team
We appreciate your honest answer. Finally somebody who is fair and admit the KYC must be completed after a decent amount. I did not know it was 2500.
It seems this company wants to do everything according to the rules of the license and respects the rules of the government in Curacao.
This example should be followed by more sites. It is also better that these KYC procedure are clear stated, instead of being surprised when you want to withdraw a big sum.
It seems this company wants to do everything according to the rules of the license and respects the rules of the government in Curacao.
This example should be followed by more sites. It is also better that these KYC procedure are clear stated, instead of being surprised when you want to withdraw a big sum.
hiccups?
We suggest drinking water backwards. Or holding breath
Should be another few hours... hold on to your hats.
We all waiting for launch to know, how it is and how much liquidity there, in Exchange without liquidity and low spread is waste of time.
Great to have you here waiting, deadley. As we all know, liquidity takes time to build.. but we hope the liquidity is strong enough an Day 1 to support first users.
Is KYC necessary in beginning? If it is not, I will sign up and deposit some funds to try.
hey deadley!
KYC is not required at the beginning.
All that is required to sign up and deposit is a functioning email. To enable withdrawals for the account you will need to verify your email address (by clicking on a link that we email to you). If the user wants to withdraw or deposit more than (BTC equivalent of) 2500 USD then a one-time KYC authorzation is necessary.
All this is laid out in clause 5 of the Exbet T&Cs - we tried to be as up-front as possible about KYC requirements, but please let us know if there are more Qs.
Thanks!
hiccups?
We suggest drinking water backwards. Or holding breath
Should be another few hours... hold on to your hats.
We all waiting for launch to know, how it is and how much liquidity there, in Exchange without liquidity and low spread is waste of time.
Great to have you here waiting, deadley. As we all know, liquidity takes time to build.. but we hope the liquidity is strong enough an Day 1 to support first users.
Is KYC necessary in beginning? If it is not, I will sign up and deposit some funds to try.
i see what you are saying, but have you thought of this scenario?
A punter pre match has a backof 1 @ odds of 4, this is his total account balnce so his balance now is 0
with 5 mins to go his team is winning and he wants to trade his bet so he wins whatever the result.
On what you are saying he will not be able too. when the equaliser arrives you will have a disgruntled punter.
Not knocking your site, think you have done a great job, but this is serious flaw.
For sure, we see your point. We are not sure how often that will occur, but the devs could have underestimated this issue. We will definitely raise it with them - again, really appreciate you taking the time
[/quote]
hi Intrepidity, the issue you encountered is an edge case - it only occurs where a new bet's stake/liability exceeds the funds left in the user's account. We do not believe this feature will significantly affect liquidity in any way (although we do not underestimate the general challenge of building liquidity on Exbet). But we appreciate you bringing this up and will take it back to our dev team for review. Thanks!
[/quote]
i see what you are saying, but have you thought of this scenario?
A punter pre match has a backof 1 @ odds of 4, this is his total account balnce so his balance now is 0
with 5 mins to go his team is winning and he wants to trade his bet so he wins whatever the result.
On what you are saying he will not be able too. when the equaliser arrives you will have a disgruntled punter.
Not knocking your site, think you have done a great job, but this is serious flaw.
I can see no reason why someone would intentionally programme this way.
All It will result in is 10x less liquidity.
Without liquidity the exchange has no chance of success.
All It will result in is 10x less liquidity.
Without liquidity the exchange has no chance of success.
hi Intrepidity, the issue you encountered is an edge case - it only occurs where a new bet's stake/liability exceeds the funds left in the user's account. We do not believe this feature will significantly affect liquidity in any way (although we do not underestimate the general challenge of building liquidity on Exbet). But we appreciate you bringing this up and will take it back to our dev team for review. Thanks!
Congrats on the launch Exbet!! Site looks very well put together ... with any exchange liquidity is the key ... so fingers crossed for high volumes .... being Canadian its great to have an option to exchange bet again .... all other "bigger" exchanges are a no go for us ... good luck!!
Thanks BitellerRewards, really appreciate the kind words
We are well aware of the lack of exchange options for you folks in Canada, and hope to be able to fill that gap. Liquidity is the alpha and omega, like you say. We're working on this hard behind the scenes.
Regards
Congrats on the launch Exbet!! Site looks very well put together ... with any exchange liquidity is the key ... so fingers crossed for high volumes .... being Canadian its great to have an option to exchange bet again .... all other "bigger" exchanges are a no go for us ... good luck!!
I can see no reason why someone would intentionally programme this way.
All It will result in is 10x less liquidity.
Without liquidity the exchange has no chance of success.
All It will result in is 10x less liquidity.
Without liquidity the exchange has no chance of success.
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