First decentralized Gambling Platform? - page 3.

Lanatsa

hero member

Activity: 2968

Merit: 687

Quote from: sikke on November 18, 2021, 03:41:33 PM

Quote from: timerland on November 18, 2021, 03:25:13 PM

I'm pretty sure that there has been quite a few decentralized crypto casinos already, including prediction markets.

Augur is probably the best example of this.

While this is certainly a noble cause, what matters is if they can actually attract revenue to the blockchain. I doubt this will happen just because of the fact that people prefer the convenience of centralized alternatives right now.

Exactly, EOSBet, etc. have also come into existence in the past.

Very dishonest for them to claim that they are the first mover when they clearly are not.

But hey, you gotta do what you need to do in order to secure that $20m+ funding right? Who is even investing in this stuff, lol.

I do remember that EOSbet back in the past, im not just aware about those claims to be the first but well it isn't surprising because if you do look at on the common line which been used on gambling world then you would also see those common lines like;

"most provably fair casino"
"most popular"
etc.

So it isn't surprising that these kind of lines would be make in use once again.

rhomelmabini

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Activity: 2030

Merit: 578

No God or Kings, only BITCOIN.

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.

sikke

sr. member

Activity: 504

Merit: 250

Quote from: timerland on November 18, 2021, 03:25:13 PM

I'm pretty sure that there has been quite a few decentralized crypto casinos already, including prediction markets.

Augur is probably the best example of this.

While this is certainly a noble cause, what matters is if they can actually attract revenue to the blockchain. I doubt this will happen just because of the fact that people prefer the convenience of centralized alternatives right now.

Exactly, EOSBet, etc. have also come into existence in the past.

Very dishonest for them to claim that they are the first mover when they clearly are not.

But hey, you gotta do what you need to do in order to secure that $20m+ funding right? Who is even investing in this stuff, lol.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: timerland on November 18, 2021, 03:25:13 PM

I'm pretty sure that there has been quite a few decentralized crypto casinos already, including prediction markets.

Augur is probably the best example of this.

While this is certainly a noble cause, what matters is if they can actually attract revenue to the blockchain. I doubt this will happen just because of the fact that people prefer the convenience of centralized alternatives right now.

Yes there are already not only Augur.

https://www.linkedin.com/pulse/crypto-stake-decentralised-gambling-platform-military-army-guns
https://www.gemini.com/cryptopedia/smart-contract-betting-online-gambling
Moonbet
DefiXBet

On a decentralized market then expect that there would be things that would really be impart
on this kind of industry.

magneto

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Activity: 1666

Merit: 753

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

Why would anyone use this?

For small amounts, the hassle of setting this system up is going to too great for players.

For big amounts, I doubt that decentralized marketplaces at this point have enough liquidity to even facilitate big bets. So whales wouldn't have any impetus to use this either.

Don't see this going anywhere.

timerland

hero member

Activity: 1526

Merit: 596

I'm pretty sure that there has been quite a few decentralized crypto casinos already, including prediction markets.

Augur is probably the best example of this.

While this is certainly a noble cause, what matters is if they can actually attract revenue to the blockchain. I doubt this will happen just because of the fact that people prefer the convenience of centralized alternatives right now.

iv4n

legendary

Activity: 3248

Merit: 1179

Quote

“The sports betting industry charges high prices for poor products and limits trades by its most successful users.
BetDEX is diametrically opposed to this approach, we will successfully compete against incumbents with a markedly superior product and low fees, which is now possible with the advent of the blockchain technology. Winners will always be welcome on our protocol.”

Well, they have a plan... that's for sure! But will it work, and how will it work, we will see I guess! They raised $28 million already, but again, will they deliver what they promised, we will see!

Checked their site, "The global decentralized sports betting protocol built on Solana", looks interesting... I think the idea is good, definitely sounds good... but as with all decentralized services, they simply can't draw enough attention! Centralized ones are beating them with promotions, marketing... volume speaks for itself, as always!

romero121

legendary

Activity: 3234

Merit: 1214

Vave.com - Crypto Casino

This will be same as the gambling sites we've got for usage. Right now the centralized platforms have the support team to solve issues. With decentralized gambling platform the support issues will be integrated with the blockchain. Apart from that the verification of the fair play functioning will happen same as that we have with the centralized platforms. Allowing third parties to develop applications over the platform is good. I find the fee as the positive thing with this innovative plan of open sourced gambling platform.

fiulpro

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Activity: 1890

Merit: 831

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?

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