Topic: FAIRLAY - SPORTS BETTING for experts - highest liquidity, provably best odds - page 7. (Read 135667 times)

Liquidity is trivial to acquire if pulling accurate real-time odds is possible. On the Degens Betting Exchange, most users use this automated market making code which makes it easy to provide liquidity as an real time odds source is included - https://github.com/degensprotocol/degens-mm

So for no cost, and no access to 3rd party real time odds data, you can be a market maker on Degens if you run the above code.

There is an oracle that grades most events through an API and then that result is confirmed by a multisig of real people at Degens.

It is non custodial as your funds are never in the custody of Degens, funds are escrowed in a publicly auditable smart contract. This compares to Fairlay where you deposit funds into their custody.

That said if Fairlay's commission structure is as cheap as you say, 0.1%, then for the vast majority of users using Fairlay is the logical choice as the risk of them exit scamming is tiny since they are the OG in this space.

pulling odds data is not liquid

who settles degens markets?

if degens settles their markets how is it non custodial?

Both Betfair.com and Degens.com have APIs. Degens.com pulls odds data in real time from Betfair and has numerous bots which seed it.

I believe Fairlay does the same with Pinnacle though I'm not sure.

I don't believe Fairlay or Exbet are competitors for Degens as they use bitcoin. Bitcoin can't support smart contracts, so Fairlay and Betfair are by defitition custodial whereas Degens.com is non custodial.

That said, if Fairlay has only 0.1% fees, that's amazing as Degens.com thought we had the lowest fees on the planet of 0.5%!

please go to the KYC Authorization tab in My Account and follow the instructions there. You will be required to submit KYC documentation and successfully complete the KYC authorization process


US members not allowed and all others will be required to submit KYC AML

I think exbet is a dead stick for now

I am going back to fairlay, thanks for the idea though LOL

well exbet is out they do KYC AML and they have jurisdiction rules

I guess that bubble is a burst

what do you mean you pull the liquidity from betfair?

It should be trivial for them to get liquidity. Exbet can just use the API for Fairlay.

That's what Degens.com does, we pull the liquidity from Betfair.

Even Fairlay charged higher commission initially which dropped later on based on your VIP status. I know that Fairlay charges very low commission now, but Exbet will probably do the same after they become more popular.

In comparison, FIAT exchanges like Betfair etc charge way higher commission though their liquidity is far higher. Soft launch was conducted early this month and liquidity was below average, but it was open to just about couple of punters.

I dont even see them in the same category

1% fee is huge, I cant believe you think that is reasonable, that is 10 times the fairlay fee I pay as a level 4 or whatever I am

they need liquid, if they don't have liquid, I just don't see the user using it

when they did soft launch how did that work the liquidity?

Even though their approaches are different, both Fairlay and Exbet are regarded as competitors since they both serve the same purpose which is offering Betfair style betting exchanges with crypto as the primary payment method.

Also, I feel that the 1% commission that Exbet charges is pretty low and not a big deal to be honest. I participated in their soft launch and I observed that it has a ton of potential.

Several features like In-play betting etc were missing, but they will probably add them over time.

here is the link to the fairlay web app
https://jgexchange.com/bet.html/


exbet does not have a liquid provider, initially it seems it will all be user based, we know how that ends up and that 1% house fee will make it even tougher.

Exbet and fairlay are not competitors because they do two completely different things.

I don't understand honestly why someone would use exbet, the big exchanges accept BTC too

Exbet is still in its initial stages due to which they aren't providing user created markets just yet, but that might all change in the future once the liquidity on their site improves which seems to be their primary focus currently.

Never heard of such an app. Will definitely check it out. What is its name on playstore?

I am excited about the launch of exbet as well, I hope it goes great. the huge difference with exbet though is they have very strict rules and do not allow any user created markets, they will only have popular markets and no user input on markets.

also Haunebu have you tried the app I built for fairlay, its a ton easier to use?

The annoying UI and complicated learning curve has always been an issue with Fairlay, but they have taken us for granted even though many gamblers have reported these issues since they have no competition currently in the crypto betting exchange market.

This could change soon with the launch of Exbet which has a better design and easier learning curve overall. Fairlay needs to seriously reconsider improving their UI.

hello! could someone guide me how to create markets on sport events correctly? As i cant understand it at all

you forgot to add the settlement source of the results

I created a market on non-major ("third") party vote. If anyone is interested in bets on this feel free to PM me =)  I could add liquidity if desired.

https://fairlay.com/market/what-percentage-of-the-presidential-vote-will-not-be-for-the-two-major-parties-1/?referral=011cd9eb-20b0-4de0-a519-ecf70a6a8cc0

I think I've posted it twice (maybe three times at the most?). I would greatly appreciate hearing from anyone else that has had this issue.  

Of my current approximately 40 matched orders, 8 of them have had this issue. So I think it is very serious. I've also seen some other issues which make me question whether Fairlay is investing the resources that they should be to fixing their software.  Besides the 17 mbtc that I've bet going the wrong way, it is also very annoying that I have to break up my bets into small test bets to make sure this problem doesn't happen.

As someone considering betting several bitcoin on this website, and as someone who has been in this crypto space since June 2011, I try my best to evaluate the trustworthiness and security of any project where I am placing my funds.  I place more trust in projects that respond in a positive manner to issues and do their best to fix them.

I am surprised that the Fairlay UI (which is how old?) still has bugs in it.  Either the users aren't bothering to report them, there isn't a significant user base, or the company is not interested enough to fix them.  There is a pattern of bugs that I've found (see my post history). So far none of them are serious except for this one where my orders have been switched.

I think Fairlay has the opportunity to be a GREAT website!!!  For instance, there are possibly thousands of traders from PredictIt who are missing the markets that PredictIt cancelled (tweet markets, debate mentions, and others) and who would be interested in expanding into other predictions beyond those carried on PredictIt.  If Fairlay was to be proactive they should be the destination of choice for these traders.  I'd love to see more markets on international elections, world events, US politics, economics, covid, global warming, and more!

If Fairlay isn't proactive then projects like Augur and Polymarket (and others) will takeover the space.  Currently they have all sorts of lack of userfriendliness. They are overly complex and reliant upon liquidity pools, decentralizations, strange tokens, and more.  Also they have limited number of markets, low liquidity, and highly variable fees that discourage new bettors by making it impractical to just bet $20.  However, they are also backed by potentially large software development budgets (I think).

why do you keep posting this over and over?

"A possible very serious bug. I placed four bets for Biden on this market (at 50%) and they were accepted as bets AGAINST Biden.
https://fairlay.com/market/us-president-election-winner-2020/"

This happenned to be twice today for smaller bets.  There is a SERIOUS BUG.