Greetings,
I wanted to post a link here to a project I've been working on that allows for "speculating" on the outcome of sports "contests": ospex.org. I'm hoping some brave souls will feel inclined to give it a try.
Blockchain tech allows for speculating on the outcomes of things without the need for a central authority. Ospex has all the rules around settlement written into the code, so individuals can read through it and decide if they want to participate or not.
The pros, vs. a traditional sportsbook:
The cons:
This isn't a rug pull and I'm not trying to sell any token related to the project; all the code is open sourced. I wrote and deployed this because I hate paying vig plus having to provide my personal info to books, although sadly in the US you end up having the provide the same personal info to crypto on-ramps.
Would greatly appreciate anyone's thoughts or feedback on it though. Thanks.
I wanted to post a link here to a project I've been working on that allows for "speculating" on the outcome of sports "contests": ospex.org. I'm hoping some brave souls will feel inclined to give it a try.
Blockchain tech allows for speculating on the outcomes of things without the need for a central authority. Ospex has all the rules around settlement written into the code, so individuals can read through it and decide if they want to participate or not.
The pros, vs. a traditional sportsbook:
- no vig (you do pay blockchain gas fees but these are pretty low, on Polygon where this is deployed it's around 1-2 cents for most transactions)
- no signup (you only need a crypto wallet)
- no limiting or getting banned (these aren't written into the code - however the per-speculation limit for all users is set to 10 USDC for now, because the project has not yet been audited)
- blockchain code is immutable - once deployed, it's there forever and cannot be altered
The cons:
- uses parimutuel pools so no fixed odds; odds based on how much ends up in the pool
- crypto is required, and this can be both difficult to acquire and cost prohibitive, which kind of negates not having to pay commissions to a book
- if the code is bugged, you could lose all the USDC that you've either approved, or that is associated with the contracts, or both...even post-audit, crypto projects get wrecked, so you're trusting your money to the code and any potential attack vectors that exist in it
- legal grey area
This isn't a rug pull and I'm not trying to sell any token related to the project; all the code is open sourced. I wrote and deployed this because I hate paying vig plus having to provide my personal info to books, although sadly in the US you end up having the provide the same personal info to crypto on-ramps.
Would greatly appreciate anyone's thoughts or feedback on it though. Thanks.
