Topic: "Exploring RITZ Sports Bet: The Future of Decentralized and Centralized Betting (Read 171 times)

Thanks, I visited the site. I think I've found a similar gambling site before like this, if this is only a decentralized betting site, then I think there's still a huge problem since the bets that would came win will only be limited. I mean, if we have 2 teams, and most of the money will bet on 1 team like 80% will go, this will sure result to lower winning, lower than the centralized gambling sites. If my understand is correct, DEX sportsbook doesn't aren't gonna outperform the success of the  centralized sportsbook. ^{(correct me if I'm wrong, I'd love to learn)}

Looks like they shared this thread on Twitter too[1]. I don't think their social media manager knows how marketing in this forum works since he just seems to leave the thread as it is. No explanation of how their platform works, etc. At the very least, they should show their smart contract code so that we don't have to connect a new wallet just to know whether it is a phishing smart contract or not. Their UI doesn't instill any confidence either.

[1] https://twitter.com/ritzsportsbet/status/1746826097948336620

This is the link to the site https://www.sportsbetritz.com/ and Op if you are advertising a casino to people, you have to include the link of the casino for people to click. And in hybrid sports betting system there is probability that you can win at least from one site. And it is possible for the op to add the hybrid sports betting system to his project. And if the project can be decentralized then it will be better because people are complaining of the KYC system.

I'm not sure what is the point of your forum post. Is this the official RITZ sports bet announcement thread?
If the answer is no, why don't you make a proper looking announcement thread? Maybe you could hire someone, who can design the thread for you.
Crypto and blockchains "continue to disrupt multiple industries"? What industries are you talking about? I still haven't seen blockchain technology being actively adopted and actively "disrupting" any industry at all.
The fiat sports betting industry is still way bigger than the crypto sports betting industry. I don't think that this "hybrid sports betting house model" is going to change anything. Centralized fiat bookies will continue dominating the sports betting market.
Anyway, good luck with your project, OP.

OP has not confirmed yet if the mentioned site of a member above, sportsbetritz.com, is the one being referred to, but if it is, I think that's just their landing page.

Here is the link https://ritz.game/ where you can place bets. No registration is required; you just need to connect your wallet. From what I see, they only have football games available on their platform.

They also have a presence on Twitter: https://twitter.com/ritzsportsbet

I guess Decentralized gambling doesn't impress gamblers anymore, it's unsecured since it does not guarantee security of funds.

What I mean about security is if we can go after the site, which of course by the name itself "decentralized", we can't. Gamblers now got used to a centralized gambling already, especially those that have a license since they are regulated and they are fair by their gamblers.

@OP, could you please put a link or the url of the website if that current site already existed?

The thing is.... tokens only work when there are a huge demand for it, so only having 1 or 2 small casinos using the RITZ token, will not be enough to make it succesful.

I can see why hybrid cars can work, but not why hybrid casinos  should exist?  In my view decentralization fits well into a scenario where security might be an issue or where a company might want to prevent "entities" to take them down.

I think Hybrid casino platform will work the way decentralized or centralized platforms are working for the players but with a hybrid model casino could face some hard times if things doesn't go in a good way. I have never heard about a casino that has that hybrid betting model and it seems like something new in the industry, and I believe it has some potential of growth in the market.

I mostly prefer decentralized casinos as they're working fine for me and for everyone else, but hybrid model also seems like a good option that I might try in future. I'm not sure what is going to be the advantage of the hybrid model based casino over the centralized or decentralized casinos but it sounds like a promising thing to me. I'm optimistic about it and I think it has potential to grow huge if investors also find the idea interesting.

Not sure what you mean by hybrid. Sounds more like a marketing slogan, to me.

Either it is decentralized or it is not. There is no 60% decentralized, 40% centralized. If it is in any way centralized, then it is not decentralized. Look at the Binance chain, for example. It is a Proof-Of-Stake chain with 21 validators and 11 of those are responsible for the governance. Obviously those validators will have a strong relationship with Binance. You could also call that chain a "hybrid" but it would still not make it into something it is not.

Is it truly decentralized? Not to me.

Timeline is launching the decentralized betting platform this month while the centralized counterpart if July this year.

We are not some newbie here that you could dazzle with some buzzwords so you better go straight to the point and explain how this hybrid set up is going to work on a basic level. Does it simply mean we have the option to either create an account with email for the centralized betting or just connect our non-custodial wallet like for decentralized? Can a user user really get his winnings without intervention in any situation if he uses his Metamask? Let's say he spins with $100 and won the jackpot like $1M. No review game review whatsoever?

Alot of confusing terms for me but let me border myself less with what hybrid betting mean but let me limit myself to wether or not centralized casinos could co-exist with decentralized casinos, and if one wants to develop anything close to a casino, my advice right now is to go full-blown centralized and making sure to get all the necessary licenses that will keep you securely save from government interference with the running of the casino.


None the less, we may see some unique feature that can help connect decentralized network with centralized networks with the aim to provide unique services and we have seen some of the developments around that same line.

Why didn't you just give the link so we could see what a hybrid sports betting platform is?

Found the site and it looks like nothing on it yet but the information about its token. I would assume it is like decentralized sports betting where we could connect our metamask wallets as if it were a web3 app being hyped these days.  If we can swap tokens inside, I'd probably like it.

After checking the Ritz menu and their road map I can't say I see anything interesting here: https://www.sportsbetritz.com/menu

I haven't seen anything about the hybrid site, centralized and decentralized betting, and how they plan to make it happen, the focus is on the Ritz token and the plans for the token. I am not sure that this thread belongs here in the Gambling section, it's just a gambling project in the beginning stage.

I guess OP can give us more info about their plans and ideas... what is "a hybrid sports betting house model? How do they plan to combine trust and transparency with ease of use? It's not the question of what "unique opportunities and challenges" we foresee, the question what unique can Ritz offer to attract us players and to make us change our favorite sports books?

i won't say betfury is failing as they are still existing today, and they have other payment methods to choose from. it is not only bfg token what they have inside their platform. but i can agree that a decentralised betting platform may have hard time sustaining the interest of the players. most casinos that are on top of the ladder are centralised ones.

but talking about the available payment options, sure, offering different networks will give you a wide ranging options that a gambler may like. as they want to pay small tx fees as much as possible, they will find a suitable route for themselves. but the payment route is only one facet in the gambling business. do remember, credibility is more important than the available payment method.

checking the site, i would say, betfury was more than prepared as compared to them when they launched their platform. also, as far as i remember, they only marketed their token when their platform was already launched. so don't know if the ritz team will launch their site even if they will not collect their target amounts from selling their tokens? because if they are relying on such sell off, would be hard to launch a competitive sportsbetting platform without compromising the necessary features of a bookie.

Upon digging this is the website (sportsbetritz.com) whose token is RITZ. I don't see how the hybrid works though but there are several decentralized betting platforms already in the past. None of them made it like they are often used by the bettors.

BetFury also has the token but I can see they are failing to make it. I couldn't see a decentralized betting platform succeeding unless they gain trust and haave some budget to compete in the marketing of the top casinos in crypto.

You did not post the link to this RITZ Sports Betting so we can check if it's possible to have some of the features of centralized and decentralized exchanges, if it is something innovative and will help the gambling community to evolve I don't know if we already have a platform that combined al these elements and features, the community is open and welcome if there is a platform that will pioneer this.
Right now the centralized platforms rule the gambling industry, all the top casinos in the industry are centralized based there were attempts to decentralize exchange to have a piece of the share of the industry, but these platforms failed to generate support from the gambling community maybe one platform will come to change the scenario.

With the tightening of governments on the issue of KYC and licensing for gambling sites, they created space so that it is not possible for decentralized casinos to survive, so people started to become aware that it is dangerous to use casinos without licenses. Now when you talk about hybrid casino, as I have never seen any hybrid casino, I get the idea that what you are talking about is having a casino that has a license, requires KYC (centralized) but in terms of deposits, withdrawals and at the time of betting is all decentralized. in other words, it would be something like, for example, a person would create an account at Z hybrid Casino and go through KYC

but when that person was going to place a bet, he would put money into the game he was betting on and if he won the money would be automatically sent to his wallet, but if he lost the money would be automatically sent to the casino account. This way it would be a centralized and decentralized case and with perfection. I believe that if there was a case where they did what I said, then it would be a very reliable casino and very sought after by many people. because the casino wouldn't take people's money. I don't know if this is your idea of a hybrid casino, so I would like to ask you what exactly is your idea of a hybrid casino?

We've got like these decentralized casinos and bookies in the past but they're like few to none of them became famous and stable. I haven't seen a hybrid platform but I think that most bettors stay where they're used to gamble.

Like the centralized ones, it has become the norm these days for most bettors to just stay on them whether you are for the casino games or sports betting, you stay where you're more familiar and comfortable to gamble with.

So, the centralized ones are likely to stay and last longer than any of these new types.

Not sure about the potential of hybrid platforms, for me it's either you go full blown centralized platforms, built from ground up and then slowly gain reputation just like the rest of the platforms that we have right now.

I remember that during the pandemic, there are a lot of sites that born out of necessities and it's all centralized platform, and in short amount of time, they are now established. So again, this is just my opinion. Just put a casinos with decentralized or centralized systems and not in between as it might back fire on you.

Centralized gambling sites are the ones that are common. You can go through the casinos that have official threads on the gambling board on this forum like livecasino.io, stake.com sportbets and many others, they are all centralized. Decentralized gambling sites are not just common, people prefer to use the centralized ones most.

For hybrids, anything that makes it in a way that people will not have full control, that means it is also not decentralized but centralized.

If you want to own a gambling site, I will advise you to go for centralized one like livecasino.io. I have not seen what you called a hybrid gambling before. Or you can mention the ones that you know.