First decentralized Gambling Platform?

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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.

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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

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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.

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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.

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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.

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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 .

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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.

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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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I think it's another DEX softscam, as it is still centralized. You know the casino needs license and stuff, or they'll get deleted by the regulator, especially if they take bets from US citizens. But that's when the casino gets big enough (just like Binance's case). Well, at least if it uses smart contracts, we can be certain that the winnings will be paid (no withdrawal problem), assumed if it won't get hacked tho Cheesy

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.

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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*

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?

Gambling as a whole and especially online gambling are booming quite a bit since some time now and they got another massive push with the covid pandemic because people simply need something to do. So it is no big surprise, that we see a lot of new casinos coming up that try to get a piece of that big cake.
The claim of being the first decentralized casinos does not sound bad in times where cryptos are also pretty big in the media, but as a User you will not notice if the casino is decentralized or not.

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The whole idea behind "decentralized" platforms is ...

1. Increased security ( A centralized platform is a easy target for DDoS attacks and hacks)
2. Freedom - Governments cannot take it down easily.
3. No Centralized control (A corrupt entity cannot influence decisions)

So is this "decentralized gaming platform" really decentralized if the owners are known and also the location of their operation? Can they be taken down? (yes) ...are they really free? (no) Roll Eyes

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Quote from: Obito on November 18, 2021, 11:45:41 PM

With all these crypto gambling websites in our hands, I think that this isn't a big deal any longer, I mean what new could they offer in this established sector of cryptospace? If it's not that impactful, I think that we're going to see anything new or revolutionary. I might even go on extreme to say that this is just another kind of gambling platform no more, no less.

agreeing here , Gambling sites/flatform coming here and there almost everyday (Specially this end quarter) they are offering the same while others gives different .

What we must understand here is in the end of the day this is still gambling and what they are offering is Losing money more than earning , so dealing with this is very risky no matter what, either centralized or Decentralized .

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With all these crypto gambling websites in our hands, I think that this isn't a big deal any longer, I mean what new could they offer in this established sector of cryptospace? If it's not that impactful, I think that we're going to see anything new or revolutionary. I might even go on extreme to say that this is just another kind of gambling platform no more, no less.

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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.

From the word "First decentralized gambling platform" I am personally amaze how these people had come up the idea of implementing it the earlier next year because I do think that implementing it may take a quite a long while, I didn't know how this might work but I find it interesting and exciting as a gambler. However, what's most eye-catching in the information that was shared was the project is built on top of Solana, this may not be gambling related but I think this will be a big breakthrough for Solana blockchain.

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Interesting, it's something that could definitely pique interest but could also cause a pretty big backlash imo since it is one of the first to do so. I do want to see how they're going to implement a decentralized platform though, and how it's going to generally affect the experience of its users since if it doesn't really make that much change, it'd probably just die down and well, be a normal gambling platform that most know, even with its label containing the word "decentralized". Hope for the best for them though.

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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.

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Quote from: uneng on November 18, 2021, 08:13:35 PM

Well, I see the launchment of BetDex decentralized casino is scheduled for 2022, but there is also XFUN (decentralized) Casino, from the same developers of FreeBitco.in, which is scheduled to be launched by the end of this year, featuring fully decentralized peer to peer sportsbook, casino games, social games and financial trading games.

There is going to be a lot of competition on this field and the most prepared, innovative and generous casino will prevail, for sure. However, if this category of casino is going to overcome the traditional ones that is another story which only time can tell.

They are not just very innovative these days but they also have funds, it's amazing to see they didn't even do an ICO. This is a race to more adoption to the decentralized platforms in many fields in crypto such as gambling and exchanges. If they have funds, they can engage in marketing also to compete with the centralized casinos which will really make all these fun. Maybe we will really see which will be preferred by users.

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Well, I see the launchment of BetDex decentralized casino is scheduled for 2022, but there is also XFUN (decentralized) Casino, from the same developers of FreeBitco.in, which is scheduled to be launched by the end of this year, featuring fully decentralized peer to peer sportsbook, casino games, social games and financial trading games.

There is going to be a lot of competition on this field and the most prepared, innovative and generous casino will prevail, for sure. However, if this category of casino is going to overcome the traditional ones that is another story which only time can tell.

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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?

If we are talking decentralized then you can look at wagerr. The downside is you can only use wagerr as you essentially bet against the chain. If you win the blockchain mints new coins and if you lose those coins are burned. Honestly it's pretty revolutionary yet no one knows about it. Technology works and by nature total supply should continually shrink.

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

how would they be any different from the already existing gambling platforms working with Bitcoins and other cryptocurrencies?

Much of the US gambling market was bought out and consolidated by wall street investors around 2018.

Significant shifts in the gambling industry have occurred as a result. Its much more common now for sportsbooks and casinos to ban gamblers who win.

Winning gamblers are a niche market who are not being catered to. They might succeed in attracting a significant portion of the market who are banned on other platforms for having won a bet or two.

If the decentralized apps their platform supports can be developed around a shared sportsbook codebase with its own api that could be yet another innovation with potential.

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They are not the first decentralized gambling but they are looking forward to being the most popular ‘world’s first decentralized betting platform’, combining sports betting with blockchain technology, with 21 million dollar funding they have to do it and for new players that only play in centralized gambling this is something new.

Quote

“..... 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.”

we'll have to see this first and see if there will be no flaws in the operation.

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So it hasn't been launched and they are looking for funds to launch it? Others over here have stated there are already decentralized gambling platform, so them claiming to be the first is somewhat misleading. Maybe they meant something else, but if they really claiming to be the first one, then no one should trust them. Even decentralized projects can scam people. And I don't think anyone would want to use a decentralized gambling platform and I don't think any government would be happy to see one. All I can think of is how easy things would be for money launderers.

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For now, most decentralised platforms built for a variety of purposes such as trading, lending, etc... have not gotten a level of professionalism as the ones that are actually run by a company or similar entity. It is a sad truth, but when something belongs to everyone, no-one in particular seems to take enough care of it. Let's see how the promises of low fees, decentralisation and innovation materialise, yet I am not expecting a revolution there.

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

This would be based in Scotland.

So from that point we can state that this gambling site will not be decentralized Grin

EU laws very strict to gambling activity in term of license, KYC, promoting ads etc. They will not allow any nonKYC or decentralized solutions on their territory. So I'm sure that such service before allowing you to do a bet on a decentralized site will ask you a KYC procedure Grin

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I think that is a misleading statement. They are not the first.

Seems like another project that has nothing but vaporware but has managed to get a bunch of funding.

I highly doubt that they will be able to disrupt the market. Many have tried, but the casino industry is just as much about the publicity and market as it is with the actual product.

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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?

Cool and congratulations on raising so much funding for the project. However, I don't see anything special. We will see what the final product will be, but in my opinion it will not be too different from other casinos built on the blockchain.

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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.

They are definitely not the first decentralized gambling platform. I am certain, some forum users here already encountered several of these decentralized gambling platforms. But yes, to attract investors, they need to impress them that they are the first but they are not. With their good funding, let us see if they can truly attract gamblers. Because as of right now, centralized casinos are preferred by most players, even if there are several benefits using a decentralized one.

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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.

Weren't the casinos like Satoshidice and a few others in past were decentralized?
Surely they were regulated by any government aside from their server which was located in Europe if I'm not wrong.
And what about those sites that used to allow users to place bets on blockchain block's ending letter.

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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.

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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

hero member

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

hero member

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?

Topic: First decentralized Gambling Platform? (Read 348 times)