This is tough op. Some people already thought of this idea before, but gave up due to the technicalities involved. The biggest problem is improved odds versus a traditional bookmaker. Majority of the sites these days(Crypto and FIAT) use Pinnacle odds.
They add a little juice here and there making their odds pretty competitive. If you wish to beat such odds, you probably won't make any profit yourself and you could end up losing money which is why I don't think this is a good idea currently.
Topic: Would anyone be interested in this ( Sports betting ) (Read 171 times)
I had an idea of making a sports betting site where you can purchase "player insurance". I wrote about it here: https://bitcointalksearch.org/topic/m.49283652
I have an algorithm that prices the insurance based on a few different factors about the player, conditions, position etc
I just need better liquidity within the market to be able to sell it at a reasonable price.
I have an algorithm that prices the insurance based on a few different factors about the player, conditions, position etc
I just need better liquidity within the market to be able to sell it at a reasonable price.
Hi All,
Im playing around with the idea on creating a website that offers sports betting for crypto, the kicker would be improved odds vs a traditional bookmaker and instant payouts, so rather than deposit onto a site, then bet, then withdraw and wait for it to process, you would make a bet and as soon as the game was over your winnings were paid back into your wallet immediately.
I do this with friends who bet crpyto and everyone seems to like the concept, id like some thoughts on it.
Also, if anyone is into sports betting PM me for my odds for any game!
Im playing around with the idea on creating a website that offers sports betting for crypto, the kicker would be improved odds vs a traditional bookmaker and instant payouts, so rather than deposit onto a site, then bet, then withdraw and wait for it to process, you would make a bet and as soon as the game was over your winnings were paid back into your wallet immediately.
I do this with friends who bet crpyto and everyone seems to like the concept, id like some thoughts on it.
Also, if anyone is into sports betting PM me for my odds for any game!
That is a great Idea at least till now if you are able to convert that Idea to an actual working project then I am sure it will be a hit with the Sports gambling community. But, there are risk that you need to consider first before actually working on the project itself.
I liked the idea and I think in this niche there is hardly any betting site that offers such facility.
Ahh, so its not a totally original idea but im glad to hear that the previous site was well liked, my only concern is would it be popular enough.
I suppose a simple interface with the price per game would work.
I suppose a simple interface with the price per game would work.
Nope, Directbet beats you up with just several years, but it's gone from few. So the niche is empty. And there is a huge demand for.
Few problems to think of:
1. Who will cover the returning TX fees? Then what will be your min.bet & min.odds so every bet to have profit at least to cover those fees?
2. How can you beat up Pinnace odds. One of the best in the industry and they are not banning winners. Fairlay is copying them.
3. Trust
So better gain trust first or gain trust sooner .because we gamblers will always find something good if you can make those rightful
Actually building trust as an on-chain betting is much more easier than an off-chain bookie.
1. People can see after every game every single paid transaction. For bigger transparency and basic trust, there could be a dedicated panel with a transaction list.
2. People can signal in the case of a problem very fast.
Beating odds (offering the best odds) when extracting TX fees and still being on profit is the real problem.
From all mentioned above?number 3 is the most important and the very hard for a gambling site to gain. It will take time before gamblers will trust you
So better gain trust first or gain trust sooner .because we gamblers will always find something good if you can make those rightful
So better gain trust first or gain trust sooner .because we gamblers will always find something good if you can make those rightful
Trust will be earned eventually. There are lots of gambling sites that started from nothing but eventually was trusted by gamblers.
you don't worry trust for this kind of betting site when you already knew how it works. i have no problem with directbet years ago. i have no idea why they shutdown
Directbet is the first sports betting site I used in crypto that is truly anonymous. No accounts, no KYC, no holding of funds. I think he posted the reason he is quitting either on the site or here but I can't remember it exactly.
If OP can copy it, I think it will be an instant hit.
you don't worry trust for this kind of betting site when you already knew how it works. i have no problem with directbet years ago. i have no idea why they shutdown though but i guess what BigBoy89 said about the tx fees is going to add up. i kept using directbet without worrying about it so are they the one who shoulder it? if you are to create one, i guess OP should just calculate to charge the tx fees to bettors.
I think that there is a lack of this kind of sportsbooks in the market, so I think you still have place the industry and can literally make it a successful business. You just need the right graphic designers, devs & of course a good marketing team. The only sportsbook that I know is dbet.io and I prefer it over all the centralized ones out there. It is just easier and more convenable to see your winnings straight to your wallet. However small stakes players might get affected by the transaction fees, but I'm sure you can find ways to cut them down by sending them in batches for example.
Hi All,
Im playing around with the idea on creating a website that offers sports betting for crypto, the kicker would be improved odds vs a traditional bookmaker and instant payouts, so rather than deposit onto a site, then bet, then withdraw and wait for it to process, you would make a bet and as soon as the game was over your winnings were paid back into your wallet immediately.
I do this with friends who bet crpyto and everyone seems to like the concept, id like some thoughts on it.
Also, if anyone is into sports betting PM me for my odds for any game!
Im playing around with the idea on creating a website that offers sports betting for crypto, the kicker would be improved odds vs a traditional bookmaker and instant payouts, so rather than deposit onto a site, then bet, then withdraw and wait for it to process, you would make a bet and as soon as the game was over your winnings were paid back into your wallet immediately.
I do this with friends who bet crpyto and everyone seems to like the concept, id like some thoughts on it.
Also, if anyone is into sports betting PM me for my odds for any game!
The directbet is giving such kind of service what you thought some years ago and now you are planning to build such a platform in crypto again I think it is really interesting to see, I never see that kind of betting platform so it better do some research about that before going build a website.
Ahh, so its not a totally original idea but im glad to hear that the previous site was well liked, my only concern is would it be popular enough.
I suppose a simple interface with the price per game would work.
I suppose a simple interface with the price per game would work.
Nope, Directbet beats you up with just several years, but it's gone from few. So the niche is empty. And there is a huge demand for.
Few problems to think of:
1. Who will cover the returning TX fees? Then what will be your min.bet & min.odds so every bet to have profit at least to cover those fees?
2. How can you beat up Pinnace odds. One of the best in the industry and they are not banning winners. Fairlay is copying them.
3. Trust
So better gain trust first or gain trust sooner .because we gamblers will always find something good if you can make those rightful
Pm me. Would like to have a chat.
Funds are not a problem, i dont have the skill to build a slick website, and to answer the other poster i would cover fees, minimum bet would be around 5 euro / £5 of a reputable coin, and in terms of how do i beat odds set by another sportsbook, the games i would offer markets on i have already Layed for a profit on a betting exchange, so its little risk to me whether your bet loses or wins.
Ahh, so its not a totally original idea but im glad to hear that the previous site was well liked, my only concern is would it be popular enough.
I suppose a simple interface with the price per game would work.
I suppose a simple interface with the price per game would work.
For the success of your idea, it all depends on how you are gonna brand your services and making your idea very simple for any level of people in the crypto space in terms of understanding. But my question is, do you have the needed funds to start this sports betting platform? and how long have you planned this ? Because without proper planning, you can really have a successful business portfolio.
Ahh, so its not a totally original idea but im glad to hear that the previous site was well liked, my only concern is would it be popular enough.
I suppose a simple interface with the price per game would work.
I suppose a simple interface with the price per game would work.
Nope, Directbet beats you up with just several years, but it's gone from few. So the niche is empty. And there is a huge demand for.
Few problems to think of:
1. Who will cover the returning TX fees? Then what will be your min.bet & min.odds so every bet to have profit at least to cover those fees?
2. How can you beat up Pinnace odds. One of the best in the industry and they are not banning winners. Fairlay is copying them.
3. Trust
Ahh, so its not a totally original idea but im glad to hear that the previous site was well liked, my only concern is would it be popular enough.
I suppose a simple interface with the price per game would work.
I suppose a simple interface with the price per game would work.
Like what I have ever found, no account needed, just send bet to site address and put our address for pay back after winning. I don't remember what site it is but the idea is pretty interesting.
Sure if you have other innovations, it would be more interesting.
Sure if you have other innovations, it would be more interesting.
A site did existed some years ago. It was Directbet.eu. It was the most popular sports betting here in bitcointalk during the days. There was no need to create an account. You simply click the line that you want and then deposit on the given address, 1 or 2 confirmations and you are good to go. If your ticket wins, the winnings will be deposited right away to the address to the depositing address. It also accepted BTC, LTC and ETH. I would love to welcome another betting site that is the same with Directbet.
Like what I have ever found, no account needed, just send bet to site address and put our address for pay back after winning. I don't remember what site it is but the idea is pretty interesting.
Sure if you have other innovations, it would be more interesting.
Sure if you have other innovations, it would be more interesting.
Hi All,
Im playing around with the idea on creating a website that offers sports betting for crypto, the kicker would be improved odds vs a traditional bookmaker and instant payouts, so rather than deposit onto a site, then bet, then withdraw and wait for it to process, you would make a bet and as soon as the game was over your winnings were paid back into your wallet immediately.
I do this with friends who bet crpyto and everyone seems to like the concept, id like some thoughts on it.
Also, if anyone is into sports betting PM me for my odds for any game!
Im playing around with the idea on creating a website that offers sports betting for crypto, the kicker would be improved odds vs a traditional bookmaker and instant payouts, so rather than deposit onto a site, then bet, then withdraw and wait for it to process, you would make a bet and as soon as the game was over your winnings were paid back into your wallet immediately.
I do this with friends who bet crpyto and everyone seems to like the concept, id like some thoughts on it.
Also, if anyone is into sports betting PM me for my odds for any game!
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