Topic: Exbet is LIVE >> The Bitcoin Betting Exchange [exbet.io] - page 34. (Read 13726 times)

I think it would be smart to give an indication on the website, when you are about to launch the site and not only state "Launch in 2020", it could be anywhere in 9 months.
Customers want to know a time frame. Not exactly of course, but it would help to be a little bit more specific.

thanks for cleaing it it exbet..


check their faq about gas.. i know volume sucks but odds are good

just checked this out. if runs on ethereum who pays gas when placing bet? no kyc is nice but no legal accountability for grading requires big trust from user. letsbe honest traded vols are filth

That is not the plan 

Thanks!

There is no functionality on Exbet that allows anyone to review and reject orders. We will not be changing that. End of story.

We think it would be counter-productive to allow that kind of behaviour. As arco-yabamba says above - how do you attract liquidity to an exchange that is not fair? We don't think there is a long-term future for that kind of "exchange".

Currently, we have our own bots running on internal testnet to test the API, and experiment with traffic/load. Also so that our UX devs can work with a "full" exchange.

Our mission is to build a world-class betting exchange. For liquidity, our efforts focus on (i) building clean, efficient APIs (ii) attracting professional market makers to the platform. Trading our own markets (seeding) is not part of the plan for launch but we see it as a possible tool in bootstrapping of liquidity, especially for new or more peripheral markets.

No.

#1 if thats the case then forget it. its not an exchange its a scam and dead on arrival. no one will be trading on a platform where "special users" have execution advantage.

but surely that is not the plan exbet???

Interface is really slick.. Few questions if u don't mind

1.Will we have a clear guarantee market makers won't reject successfull bettor's orders or you won't close account of bettors who beat them? (heard it happening a lot non-Betfair fiat exchanges)

2.if there is not enough volume, you will ever trade in your own markets? (since you talked about your market maker bot)

3.Last, are you afraid of degens.com adding BTC and compete with you?  They have Betfair like interface. (Sorry if this question sounds weird, but i'm a regular bettor there )

sorry if they are too early to ask and thanks in advance..

We believe in miracles  

Here's a screenshot of the current home page - we've been working hard since beta, responding to feedback. Site looks even better now... and the UX has gone up a level as well.



We are feeding in events from last autumn (in the absence of live events). Looks like our market maker bot thinks it can get away with lazy pricing, just cos it's Easter weekend 

If Covid-19 delays launch much longer we'll have to do a second beta (a beta beta??)

thanks stomachgrowls, fixed now.

Why this one shows like this?


Chrome Version 80.0.3987.149 (Official Build) (64-bit)

Exactly, the Exbet API will allow integration with off-the-shelf trading tools like Geeks Toy or Bet Angel, or with bespoke private trading tools.


(Sorry for chopping your quote down)

We agree with the last bit, not so much with the first, although there are multiple points there, all of which ring true to some extent.

As you say at the end, for the sharps to take money out, someone needs to be putting the money in.

Thank you for the replying.. I hope you succeed and save us from bookies robbing us with their odds . just wanted to mention the challenges, good to know your aware of them.. I am sad to miss beta, also can't wait

I still think it will fail but let's hope a miracle happens..

I will definitely test things out when launched. The betting world needs some serious competition to Betfair and if it's just to get them off their high horse. Most users have a love-hate relationship with Betfair, so do I, and would be happy with a good and liquid alternative.

As discussed previously, liquidity is the most important cornerstone. What I am dearly missing nowadays though, being forced to use a white label Betfair exchange, is trading software. It's just so weary to do everything manually instead of one-click and all the maths being taken care of too (yes I am not good/fast with maths ). As I understood, you will have a market maker API at launch, so maybe it's not just a pipe dream to have some trading software like Geeks Toy available in the future, if all goes well with your exchange


I will get a bit off-topic here, but what I observed from a punters point of view, is a downward trend in terms of betting activity. And in my mind it's because the betting middle class is thinning out dramatically - just like the middle class is dying out in society. While until some years ago solid punters could make some money or at least break-even, this has now become way harder, because the markets have matured so much. Someone who was able to make some extra bucks in the past, which made it worth his/her time while not being addicted, is now not being able to do so anymore and will lose longterm. And these people are smart (and healthy for that matter) enough to leave the betting space unlike the gambling addicts. 

This causes some imbalance, which is especially bad for betting exchanges. Bookmakers don't care - they are even happy with it - but the betting exchanges need a/the middle class, since addicts are not the ones using an exchange normally (no parlays there ). You need constant influx of money, because the sharks only take money out of the system and don't add to it. This influx is hard to get with a small middle class and addicts normally not too excited about exchanges.

Great post tyKiwanuka.

We remember when BF premium charge was introduced, it was very messy. But, as you point out, liquidity has its own gravitational field - getting significant parts of large liquidity pools to move somewhere else is a huge challenge.

But we firmly believe that there are a number of important trends (both inside and outside the betting industry) which offer an opportunity to disrupt the stranglehold that Betfair has on betting exchange liquidity. Patience and money are useful, yes, but also a clear idea of what Betfair don't or can't do well (conditions, customer support, commission are not really their weak spots in our opinion).

One thing we certainly agree on - it is a fascinating challenge, and we hope you will be around to watch, comment, and maybe have a bet or two once we've launched

hi orcun, thanks for your thoughts. No one said this was going to be easy!

We agree that having good technical product is just the first step in building an exchange. Bootstrapping liquidity is the critical challenge for us. We can't wait to get launched.

Hey beerlover, fair points you make. But to repeat, esports has a huge future in betting but the profile of esports bettors is different from traditional sports bettors. There is crossover for sure, but esports betting is a different demographic, and we intend to focus on the core sports betting users before making a push into esports. Even though the Covid-19 pandemic created excellent conditions for esports to grow, we are not hearing across the industry that growth in revenues is that substantial, even if esports now makes up a much larger proportion of sportsbook offering. Definitely an interesting space though.

Right? I mean esports is definitely not any of us first choice (or maybe SOME of us I don't know) and I know that when regular sports comes back people will move back to that for sure but we all tasted the blood on the air, I think we all will continue to gamble on esports years and just lower the amount we put into it, or maybe some people will stop gambling on esports all together but there will still be some people who liked it and will stay and not move back to regular sports as well.

I think adding esports can't really hurt, you are not removing anything, you are not giving less options to gamble, you are actually adding something and I don't see how that could hurt your business.

It's very hard to drag people away from Betfair. They have a monopoly and whoever tried to challenge them in the past, has failed. I still remember back in the days, when they introduced the premium charge and everyone was raging. In the Betfair forums there was a call to leave Betfair and play/trade at Betdaq instead. The traders agreed on meeting in certain markets and do their business there. This worked a bit, but the liquidity was still way below Betfair. And of course you don't want to trade with/against fellow pros, but you want lots of noobs in the market. And these noobs didn't bother to move to Betdaq, because Betfair was still very liquid and these noobs were not affected by the premium charge. So everyone went back to Betfair and Betdaq remained just another exchange with no volume until today.

This is all fascinating to witness. I guess all other betting exchanges have better conditions, better customer support, aren't that greedy etc., but still everyone stays at Betfair or some white label solution of them. I don't think this will change in the foreseeable future, but one can try With lots of patience.....and money.

Exbet will fail. PERIOD.

Betbtc was a BTC bet exchange for 4,5 YEARS!.. They had everything, Betfair interface, good odds and API.. it had shit liquidity and in the end became (had to become) a sportsbook..

Fairlay the biggest BTC exchange has shit liquidity too. You may say because of its interface but why did Betbtc fail then? Exbet got excited for nothing..

BTC BET EXCHANGE business has no market except for a small number of players which will be banned by market makers, thats what happened in fiat exchanges except maybe Betfair..

Looks like a good idea. Actually, many gamblers included me give the esports a shot. After winning small amounts, it becomes more interesting to go further and check other sections of the esports. The lack of sports betting force the gambling addiction people to test the new sections of the online gambling websites and the gambling sites which have the mentioned features will start the match 1-0 score.