Topic: ➤ Gamblor.bid ★ 100% private on chain bets ★ Updated: Easier betting (Read 994 times)

Hi, I am unsure what you are saying here. If you would like some free credits to avoid paying fees during our public beta, join us on IRC.

Join us on IRC for free credits, see below.

Like with this service

Bump for 10/16 update. See above for details.

Come play today! Tons of NFL and NBA games to choose from on Sunday.

In the pipeline, coming up soon:

• Hockey
• Soccer
• Women's basketball
• Electrum wallet plugin to help simplify making offers and taking up bets

As always, please let us know how we can improve things here on Bitcointalk, we're open to suggestions. It's our job to make this secure and as easy as possible to use!

You can pay the fee with Bitcoin, it's a choice when making your bets. Three reasons for the credits.

(1) We can sell them cheaper in bulk (see the credits purchase page for amounts, though the details there may change) so the fee goes down if you opt to do it.

(2) It saves on network fees to not transmit us a fee before each offer or bet - since we collect up front instead of after betting (done in this order to avoid offer spam as I mentioned earlier)

(3) We wait for 2 confirmations if you pay the fee with Bitcoin directly. That takes ~20 minutes. The quicker an offer goes up to the site the more chance that a better will see it and take the offer up. for someone making lots of bets I'm sure it's a nice feature to get your bets up instantly (or nearly instant, backend processes it first).

Also a minor one (4) we can give away credits to people that we like so they can play free! You can get some in our IRC channel during the beta.

Edit: oh i kinda misread what maku said. The thing that's awkward is trying to collect a fee and then making multisig addresses to pay in to. So you currently can't just pay fee + pay-in in the same transaction on our site. This is one of the weaker parts of the system and I'm not entirely sure there's a great fix. If I open it up and let everyone post offers I fear very few would actually be serious.


Agreed! I'm even having trouble explaining it here and we're supposed to be the Bitcoin experts around here haha. The more I think about it the more I want to make an Electrum plugin to make this easy.

Nice concept.So basically you can bet on anything listed,possible to create your own listings?
0.0006 is the service fee paid by every better,with house edge as 0%,you are making 0.0012 per bet ? Great margins!
However,the process seems quite complicated..creating multi-sig addresses and stuff

While I find your site's concept technically interesting and new, compared to most standard platform. There is one aspect I don't like: purchasing credits.
Why you use additional supplementary tokens instead of allowing people to  bet directly with bitcoins?

Because multisig. This is how multisig Bitcoin transactions work.

You give Gamblor a public key and make an offer. An interested better also gives Gamblor a public key while saying "I'll take you up on that offer"!

Gamblor now has 2 public keys, one for the offer one for the better. So it creates a third public key. (Technically it creates third and fourth public keys, I'll get to that in a minute).

Now we can create a multisig 2-of-3 payin address (one of those Bitcoin addresses starting with "3"). The better can pay in and the offerer can pay in.

While these funds are here in these multisig addresses, they are safe on the blockchain, and do not exist in any single wallet that could be compromised. In fact, in this state, Gamblor itself has no access to spend your funds. If someone broke into our back-end there would literally be nothing for them there to steal. The worst thing an attacker could do on our back-end is to affect the outcome of games which limits damage somewhat (working on audit software to check this externally and hit a big shuttoff button if triggered),

Gamblor actually creates 2 2-of-3 addresses for each bet. This is just so the pay-in addresses for the offer maker and for the better taking the offer are separate - so we can tell who paid in and who did not. If we just used one address for this pay-in purpose, it would be difficult or impossible to say which team the funds were paying for.

Which brings up an important point about our system: Only ever play from a wallet that can sign raw transactions from your keys! You will need that feature to collect your winnings.

We're thinking having our own version of Electrum where you can play directly from wallet will make this a lot simpler for people. Or possibly even just an Electrum plug-in is enough.

A little light reading to keep under your pillow:

Bitcoin.org's words on multisig: https://en.bitcoin.it/wiki/Multisignature

The example I used when making gamblor.bid: https://gist.github.com/atweiden/7272732

Hot dang.

Congrats on releasing this before we had the chance to for something very similar.  Really interested to see how this pans out.

Why you guys asked for public key rather than simple bitcoin address to send back bitcoin to? I get confused over there when i tried to place bets its asked for my public key of bitcoin so what will happen if i just like to put my bitcoin address on that field, i am being quite nob to your platform confused due to this.

I have done several anonymous betting on directbet and they simply ask for bitcoin address to pay back can't you guys make your platform just like them.

It don't required any login info it's just has this similarity with directbet.eu but has very less sports to place bet there, there is no option for live betting but it future they will add more sports because it is into beta phase, live betting option will be more attractive.

I quite like the design of your website, it looks very simple and I like that you have a bet going for the US presidential election on the front page.
Not too sure about the colors, but that's just my personal opinion.

why not use slack chat, I think it's cool

Isn't 0.0006 similar in size as a Bitcoin network fee? Much lower than that is nearly dust that you can't even send in a Bitcoin transaction. Anyways it's just supposed to be a minimal fee to help us keep things working, pay for server costs.

Imagine for a second that we did not charge any fee and anyone could just put offers onto our site. What would happen? We would get tons of offers from people who are not serious about following through on their offer. Kind of like spam, it would make real offers difficult to tell apart from fake ones. So by requiring this fee, both parties are interested in finishing the bet and are more likely to follow through.

The above is an interesting side effect of us not wanting to use any kind of "hot wallet". To us the idea of a hot wallet is insecure and always seem to be the single point of failure in many Bitcoin security failures of the past. Rather than repeat this we decided to try to do everything directly on the blockchain. In financial terms Gamblor acts as an escrow service between two betters. An escrow service that ensures the winnings go to the correct party.

However, during the Beta test, where we are making sure everything works properly, we'll give you some credits so you do not have to pay this small fee, you can get them in our IRC channel, see above for that. To use them, at the bottom of the "Bet" or "Offer" forms on our website, change the "Bitcoin" payment to "Credit" and you can spend the free credits on there.

We may in future support some altcoins (e.g. Dogecoin). On those coins, since they aren't worth as much, the transactions are cheaper and our fees will also be cheaper. You can help us choose which altcoin to support on here http://gamblor.bid/altcoin-poll

What I saw here, at first that you said it really low fee or may be 0 fee but then you said that your fee is 0.0006 which is really high. So which one is the real one?

Currently it is very similar yes. There's a few points of difference though!

• We can add any kind of event. Suggest it here or on site. If you have a good source URL for a winner decision that would make it easy to add. Feeds are particularly easy to add so if you have an idea for a whole class of events you'd like to see tell us about the feed. (e.g. video games competitions might be cool).
  
• We plan on building desktop and mobile wallets you can play from directly. Which will use...
  
• A programmer's API. Bet and offer pages on our site hit /apiv1/[something] to poll for data. This is the beginnings of a REST API that everyone can use to get bet details. Soon you will also be able to POST new offers and bets to it (+1 to Drupal for that one! the REST services are very nice).
  
• Edit: oh and a bright sunny look to refresh your eyes from all those black sites! We shall endeavour to make the site less confusing and more approachable as per philiveyjr's suggestion.

On first look it is really confusing. Would advice simplifying it and also changing the background to make it more aesthetic.

The no log in requires is similar to direcbet.eu. They are all sportsbook.

Is this similar to bitbet.us or directbet.eu?

True, it's the frontend framework I know best so went for it. No money or event handling is done in Drupal, it's based on Electrum's Python code base and lives on a separate server. Edit: oh heh the favicon is still Drupal's. That will change shortly, waiting on a graphic.

site is drupal