Topic: PrediMarket.net - Temporary shut down announcement - page 4. (Read 2741 times)

What you are telling is the bet for prematch or we can bet on LIVE match in Inplay also the same odd will favour, because what you are telling is that you will fix the prematch odd for all matches , and after that who ever bets will change the odds,

What you are giving details is just like trading bets. But it is too complicated and the outcome will be facing too many problems.

Best of luck for your new project

I understand, it is quite unique in that respect indeed. I'll try depositing some and see how it goes.

No it is not an exchange. An exchange is a market place gathering "bidders" and "sellers" or "backers" and "layers" in terms of betting exchange. This kind of mechanism is generally bad because of the lack of liquidity: a bet can only be concluded if a backer and a layer agree on a certain odds which prevents many people to actually make their bet because they fail to come to an agreement with the other party.

At PrediMarket, you bet against the gambling house, hence there is no liquidity problems. Depending on the amount you wish to bet, PrediMarket will offer you different odds.
For example:
- if you want to bet 1 BTC, you get a decimal odds of 3.0
- if you want to bet 0.5 BTC, you get a decimal odds of 3.5
- if you want to bet 0.1 BTC, you get a decimal odds of 4.0
...


You are right in the sense that this is how every single bookmaker works macroscopically (in the long-run if you prefer). But none of them does that live while you are completing your betslip. At a regular bookmaker, you are offered a unique odds (say 3.0) for a specific outcome no matter how much you bet. The odds might change only for future gamblers.
PrediMarket offers you much more flexibility: that is why it is truly innovative.

Consider a game with 2 outcomes which are equally likely to happen. Both (decimal) odds for that outcome are set to 3.0 at the beginning (before any bet is placed).
I picked the following wages just for the sake of simplicity, you can bet any amount you wish.
First player puts 1 BTC on the first outcome at odds 3.0 (he gets 3.0 BTC if he wins).
-> This bet makes the odds for the first outcome decrease and the odds for the other outcome increase: they are now respectively 2.9 and 3.1
Second player comes in and puts 1 BTC on the first outcome at odds 2.9.
-> This bet makes the odds for the first outcome decrease again at 2.8 while the other goes up.
And so on and so forth...
Of course, if the first player bets 2 BTC at the beginning, he will get odds around 2.95 (half way between 3.0 and 2.9).
If some money is placed on the second outcome then the second odds will start going down while the first one will go up: this is the same mechanism.

It works exactly the law of demand in economics: the more people put money on an outcome, the more the odds for that outcome will decrease.


You are right, this is exactly like trading  . When you make a bet, you make a contract with PrediMarket to pay you, for example 2 BTC, if your prediction is correct, in exchange of engaging 1 BTC. The value of this contract is 1 BTC, in other words, the amount you chose to bet. Then, if other players bet more money afterwards, the value of your bet (contract) will fluctuate:
the more people put money on the outcome you chose, the more the value of your contract will increase. The opposite happens if people tend to favor the other outcome.
This is because the bet has an intrinsic value that you can sell it at any time.


Well, this is just an expression to try to convey the idea that PrediMarket offers fixed-odds (fixed amount paid for a wage) but depending on the amount you want to bet (your demand), you will get different odds as explained above.

Is this an exchange? You use terminology that isn't clear at all.

"Why is PrediMarket innovative?": "odds you get for an outcome depend on the total wages already placed by other gamblers on that outcome and the amount you want to bet" is literally how every single bookmaker works at the end of the day, this isn't innovative at all.

Just use standard Betfair-style terminology, no sports better uses "shares" when trading bets.

OP, I'm quite not knowledgeable about how "fixed-odds on-demand" works. Does it mean that when there are many of the same bets, the wages decreases? Please do enlighten me.
I like how you can actually sell your bet. This basically qualifies as trading as you have invested in a bet and risked either if the bet's value will go up or down.

Hello everyone,

We have been online for a few months now, always trying to bring something new to the betting industry.

As some of you may know, we have been using a peculiar pricing system which has proven to be very hard to calibrate over the past months.
We have tried many different settings but it is intrinsically difficult to find the correct balance between competitive odds and risk management precisely because of our pricing system.

As a consequence, we announce that we will shut down the website for a temporary period. You are kindly asked to not deposit or place more bets past this Friday. All bets placed from Saturday will be refunded.
You are invited to withdraw your belongings before the end of the week as the website should go offline during Sunday.

E-mails containing this message will be delivered to each of our customer.

We will use this break to rework our system and hopefully bring some new features as well.

Thanks for betting with us and we hope to be back soon.

Best regards,
The PrediMarket Team

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

A new version of PrediMarket has just been released!

What's new?

• You now have access to lay betting, making PrediMarket effectively a betting exchange. Your betting counterpart is always PrediMarket, ready to back or lay any outcome at any time, thus ensuring the liquidity of bets!
• Betting limits have been substantially increased!
• Increased range of soccer competitions

Tell us what you think!

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

PrediMarket, a genuinely innovative Bitcoin Sportsbook for both desktop and mobile.

Why is PrediMarket innovative?

PrediMarket is a Sportsbook Betting Exchange offering a continuous range of fixed-odds.
The back/lay odds you get for an outcome depend on the total wages already placed by other gamblers on that outcome and the amount you want to bet, like other sportsbooks, but the odds balancing is done in real time here!
Thus, you can ask for the odds you like best by adjusting your wage!

Is it like parimutuel then?

NO, IT'S NOT! Parimutuel only gives you variable odds, hence your are not guaranteed to win a fixed amount if you bet correctly.
On the contrary, potential winnings with PrediMarket are guaranteed like regular fixed-odds betting exchange.

Additional features:

• Instant, 1 confirmation deposit (3 confirmations for large deposits)
• Instant withdrawals at all times: the deposited bitcoins remain yours until you place them in a bet
• Minimum deposit: 0.0002 BTC
• Fixed margin as low as 2% on odds and fixed winnings commission of 2% for back and lay bets meaning very high odds

PrediMarket will be in beta stage until further notice. This means:

• Fixtures are limited to football (soccer) games for now
• LIVE betting is disabled for now

In case you have any questions, feel free to post them below or file a request to our Helpdesk.
The last thing we want is customers getting stuck on any aspect of PrediMarket!

Join us now!