First decentralized Gambling Platform?

coin-investor

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Quote from: fiulpro on November 18, 2021, 11:46:42 AM

I recently came across this news where BetDEX apparently made a public statement about how they would be launching *world's first decentralized Gambling Platform*

Few things to note:
Integrating sports betting with blockchain technology.
They are going to launch it in early 2022.
This would be based in Scotland.

I hope they can create an announcement here so we can fully review this decentralized gambling platform that they will create, there are already Dapp casinos online https://dappcasino.io/ I don't know what will make them different from existing Dapp casinos and if they are going to be competitive and get the support of the majority of players, we have to see it first, but one thing is for sure the Cryptocurrency gambling is evolving.

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Quote from: YinShuiSiYuan on November 20, 2021, 12:11:34 AM

I'm wondering what exactly is calling a "decentralized" bookmaker. We all think the point is that it's just built on blockchain, but maybe it's something else. Today I found a new gambling site where no registration is required, we only need to connect our wallet:
https://matchtoken.io/
Although I don't know yet exactly how it works and how it differs from other casinos, but maybe that's the case here.

I think that bookmarker is a stand-alone website and can be called a decentralized bookmarker. By the way, the registration does not need but we need to connect our wallet to their system and I think that is included in the registration process but we do not have to give our name or other details to them. So we can gamble privately without anyone knowing because that will only need a wallet to connect through their system.

Bagaji

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Sound good to know that this is will happening soon in the gambling space and I will love to take a look at the feathers in the site any time they are fully operational. How I wish op will update this thread if possible with information anytime time the site is on I would love since am going to eyes on this thread.

alegotardo

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I'm in doubt... will this decentralization be complete?
Like... I connect with my wallet, create the account, make a transfer, wait for confirmation from the network and can I start playing?
No KYC and nothing bureaucratic? If that's right, it will be wonderful.... hopefully it arrives soon and that it expands to more sites.

I'm actually surprised I haven't heard of it before, does it already exist? If it does, it's underreported or it might not be working very well.

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Quote from: fiulpro on November 18, 2021, 11:46:42 AM

What do you think the whole hype is about, how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?

I'm not sure how they become certain on the term Fully Decentralized gambling platform, I really don't think so. Maybe I would believe in using blockchain technology, but not the term decentralized. Or maybe I was wrong and stand to be corrected coz what I think this will have no difference from the other gambling site and operation as still, the management will still have the control of the game. In no way, they will let gamblers take more out from them but they are the ones.

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Quote from: nakamura12 on November 20, 2021, 02:03:30 AM

Quote from: Zilon on November 20, 2021, 01:20:45 AM

It wouldn't just be an empty hype if it's open sourced although there would be no much difference between what BetDEX has in mind compared to the already existing Bitcoin and crypto gambling platforms just the absence of the third party interference. But getting a location been Scotland might call for future regulation it would have been far better if it ended in total anonymousity

It is still anonymous if you only know where they based. It's no different from not telling where they base as long as the team behimd didn't provide the team behind. It won't matter anyway if they gained a lot of trust from people even if centralized platform is much better than decentralized in my opinion.

When it comes to security or assurance then you would definitely be having that kind of no doubting the said platforms and since its been trusted up by many then you do automatically presume that it would
really be that safe on dealing with it compared into those so called fair site but still new and havent able to get some reputation and trust. When it comes on being decentralized or centralized
then it wouldnt matter since you do have your own common sense and will to differentiate and would able to make out decisions basing on what you had observed.

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Quote from: Zilon on November 20, 2021, 01:20:45 AM

It wouldn't just be an empty hype if it's open sourced although there would be no much difference between what BetDEX has in mind compared to the already existing Bitcoin and crypto gambling platforms just the absence of the third party interference. But getting a location been Scotland might call for future regulation it would have been far better if it ended in total anonymousity

It is still anonymous if you only know where they based. It's no different from not telling where they base as long as the team behimd didn't provide the team behind. It won't matter anyway if they gained a lot of trust from people even if centralized platform is much better than decentralized in my opinion.

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Quote from: fiulpro on November 18, 2021, 11:46:42 AM

I recently came across this news where BetDEX apparently
What do you think the whole hype is about, how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?

It wouldn't just be an empty hype if it's open sourced although there would be no much difference between what BetDEX has in mind compared to the already existing Bitcoin and crypto gambling platforms just the absence of the third party interference. But getting a location been Scotland might call for future regulation it would have been far better if it ended in total anonymousity

dothebeats

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I think the idea has been around for quite some time now, although it didn't really caught steam because centralized gambling platforms are still superior in terms of reliability and overall quality of gaming experience on the platform. The key thing that this decentralized gambling platform needs to keep in mind is that people won't be swooned by such buzzwords; they need to introduce new features that will attract the gamblers and retain every good bits from centralized gambling platforms. People won't care about the platform sitting on the blockchain if it isn't even good enough to live up to the current standards of gambling.

YinShuiSiYuan

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I'm wondering what exactly is calling a "decentralized" bookmaker. We all think the point is that it's just built on blockchain, but maybe it's something else. Today I found a new gambling site where no registration is required, we only need to connect our wallet:
https://matchtoken.io/
Although I don't know yet exactly how it works and how it differs from other casinos, but maybe that's the case here.

michellee

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Quote from: blockman on November 19, 2021, 05:52:47 AM

Not the first one, there have been other decentralized gambling platforms before but I guess none or just a few of them took a success.

Quote from: michellee on November 19, 2021, 05:37:01 AM

I wonder what will happen to them if, somehow, they become popular in 2022 and get attention from many people and, of course, the government. That can make the government wants to involve to take taxes from them and once the government interfere with the tax, their decentralized gambling platform name can change to a centralized gambling platform like the other gambling sites.

It's highly unlikely that the government can tax these decentralized gambling platforms. Just as they can't tax the dexes, so they can't also chase these platforms since it's decentralized.

But the government can track where the decentralized gambling platform is. They can use their resources knowing where their server operate and track their headquarters to investigate for more. We can not underestimate what the government can do to track everything they want to know because they can get that information sooner or later. So if they think they can get big taxes from the decentralized gambling platform, they will search for the information using all of their resources and force them to pay the taxes if the casino does not want to be closed by the government.

aioc

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Quote from: tulusikhlas on November 18, 2021, 09:48:49 PM

The decentralized gambling platform on top of the Solana network is indeed quite eye-catching. This innovation may create new breakthroughs but I don't fully understand how they operate the gambling site that they will build early next year. Regardless of the innovation, in the future there will probably be more gambling that will follow the innovation much more optimally. It only takes good achievement and good judgment when gambling built on blockchain can make something different.

We'll have to see it first, test it and compare it to centralize gambling platform, we have seen the adoption of decentralized exchanges, let's see similar scenario will happen, so far centralized gambling platforms are leading the way in Cryptocurrency gambling, it's the one supported and adopted, we'll know if there's a disruption in the gambling industry if these decentralized gamblings roll-up.

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Quote from: smyslov on November 19, 2021, 06:12:46 AM

I've never experienced playing in decentralized gambling they cannot claim to be the first one because according to posts of members here there are already decentralized gambling in the past and existing, they are going to launch it next year, they have a huge fund and they have the capability based on their credentials, let's see next year if this is going to compete with popular centralized gambling sites like FortuneJack, Stake and Betfury, and what the benefits and it's an edge over centralized gambling platform.

I also find it risky but I would love to try especially if they would gain the trust of most users by showing their credibility to build a trusted decentralized gambling platform. The competition is really strong but if they would showcase their capability just like what trusted platforms did, it won't be too hard for them to handle a decentralized gambling site. Most players also want to try something new these days.

smyslov

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I've never experienced playing in decentralized gambling they cannot claim to be the first one because according to posts of members here there are already decentralized gambling in the past and existing, they are going to launch it next year, they have a huge fund and they have the capability based on their credentials, let's see next year if this is going to compete with popular centralized gambling sites like FortuneJack, Stake and Betfury, and what the benefits and it's edge over centralized gambling platform.

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Quote from: mu_enrico on November 19, 2021, 02:26:15 AM

At the end, it depends on the promotion, bonus, etc., since why would we want to play there if there are already many freebies in our regular casinos.

and THIS>>>

if we had already trusted and favorite gambling sites then why need to find another even if this offers decentralization ?
it is just another gambling site for me in the end of everything so I may stay in those sites that i normally played in which never taste any issue from Day 1.

Anyway everyone is welcome to create their platform in this field , but what makes it different? for me its none .

blockman

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Not the first one, there have been other decentralized gambling platforms before but I guess none or just a few of them took a success.

Quote from: michellee on November 19, 2021, 05:37:01 AM

I wonder what will happen to them if, somehow, they become popular in 2022 and get attention from many people and, of course, the government. That can make the government wants to involve to take taxes from them and once the government interfere with the tax, their decentralized gambling platform name can change to a centralized gambling platform like the other gambling sites.

It's highly unlikely that the government can tax these decentralized gambling platforms. Just as they can't tax the dexes, so they can't also chase these platforms since it's decentralized.

michellee

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I wonder what will happen to them if, somehow, they become popular in 2022 and get attention from many people and, of course, the government. That can make the government wants to involve to take taxes from them and once the government interfere with the tax, their decentralized gambling platform name can change to a centralized gambling platform like the other gambling sites.

They can become a new trend in the gambling industry, especially if their project can succeed in the next year as there will be a change in the trend of the gambling industry. So maybe we can wait for the next update from them and see what will happen to their project and hopefully, the government will not interfere too deep in the sites.

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Quote from: fiulpro on November 18, 2021, 11:46:42 AM

I recently came across this news where BetDEX apparently made a public statement about how they would be launching *world's first decentralized Gambling Platform*

Few things to note:
Integrating sports betting with blockchain technology.
They are going to launch it in early 2022.
This would be based in Scotland.

A quote from the article:

Quote

The trio will offer a fully decentralised protocol built on the public blockchain, Solana, providing customers with fast and low-cost trades. It will allow third parties to build their own innovations and applications on top of the platform

-They are even allowing third parties to build innovations and applications on the top of the platform.

**It's largest ever seeded investment by any uk startup**

Source: https://www.gamblinginsider.com/news/13914/betdex-raise-21m-to-launch-first-decentralised-betting-platform

What do you think the whole hype is about, how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?

Sports betting is much popular than the crypto gambling sites that we know. A decentralized sports betting would be revolutionary and a lot of people would instantly adopt it especially those cryptocurrency enthusiast. Betting in such platform with the latest blockchain technology surely assures the player for its anonymity (of course if they'll require KYC verification then they are the only ones who'll know you) but if the concern is a certain player will know your information, I think that's almost impossible.

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Quote from: rhomelmabini on November 18, 2021, 03:48:07 PM

They got a good backing there by FTX and Paradigm and they get a good amount of funding and I wonder how they would be built differently this time around. Been quite on some decentralized gambling especially on the Tron blockchain and it's pretty cool seeing such platform and the low fees but it isn't really the same as other centralized platform, one issue is the lack of players/gamblers sometimes and the low of liquidity.

FTX is now becoming leading crypto exchange sponsor in most of the areas and i think SBF and team are working on the progress of the company and to promote it as marketing technique as they have also partnered with some teams and channels as sponsor which is good move on their part and soon we could see they coming up with more of such plans.

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I guess with this kind of idea decentralized is with the security because it becomes more transparent, just wondering this is the first time i saw a decentralized platform so who will the one responsible for managing the problem of the users and different updates of the platform?. Do they hire customer support or just an automatically transaction and fix that problem by the users?.

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