1. #1
    Optional
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    BetDex - from Fanduel creator

    https://www.betdex.com

    Decentralized betting exchange (hold your own funds at all times) created by one of the founders of FanDuel as well as the original FD programmer.

    https://www.businesswire.com/news/ho...y-a-UK-Startup

    This one sounds like it might be good.



    Beta tester signup: https://www.betdex.com/beta-old
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  2. #2
    craftbrewer
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    Another Betfair competitor? Hopefully they will accept players from many countries unlike other betfair competitors like matchbook and smarkets who have so many restricted territories so they are basically useless.

  3. #3
    bookie
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    Thanks for posting this Optional. And glad to see you're still around posting about offshore matters.

    Maybe this is the one the for which we've all been waiting, though as establishment guys they probably wants to stay onshore and if he stays onshore the cost of regulation is going to make -103 prohibitive and all the old problems of liquidity will re-appear.

    Also I don't see how they can say they've eliminated counter-party risk when it's not a code-is-law situation as it appears they are the ones that will put in the scores that determine the payouts--unless there's been an advance in oracle technology that I don't know about.

    Still...they have an experienced team who've got to be well aware of the problems and it's encouraging to see that something like this may be on the horizon.

  4. #4
    DontTailMe
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    On my way to doctor's appt and don't have time to read. Does this one use a proprietary coin or something that's already widely used?

  5. #5
    Optional
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    Quote Originally Posted by DontTailMe View Post
    On my way to doctor's appt and don't have time to read. Does this one use a proprietary coin or something that's already widely used?
    Not proprietary.
    USDT and SOL to start with
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  6. #6
    randomuser
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    I reccomand you to take a look at this too: https://www.forbes.com/sites/zackjon...h=2f810e5e7481

    This is the official site of the project: www.betswap.gg
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  7. #7
    PD77
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    I tried to sign up for a beta tester but it wouldn’t let me. Opps, something went wrong… I guess they’re full.

  8. #8
    jjgold
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    Another gimmick

    There is no betfair competition


    Never was and never will be

  9. #9
    DontTailMe
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    Quote Originally Posted by Optional View Post
    Not proprietary.
    USDT and SOL to start with
    That's definitely better. But of all the stablecoins, they choose shady Tether. Ugh.

  10. #10
    Optional
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    Quote Originally Posted by DontTailMe View Post

    That's definitely better. But of all the stablecoins, they choose shady Tether. Ugh.
    Was wondering the same thing. There probably is a good reason, given it's not their own coin.
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  11. #11
    bookie
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    I've never understood the tokenomics of stable coins. Is there really a pile of fiat sitting somewhere to back those coins? And how do the people who issue them make money? I always imagined there was a little fee taken out on every send like bitcoin for mining only to incentivize holding the reserve. But I don't know that, just guessing.

    And could someone catch me up on the shadiness of Tether?

  12. #12
    DontTailMe
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    Quote Originally Posted by bookie View Post
    Is there really a pile of fiat sitting somewhere to back those coins?
    There is supposed to be, but crypto is an unregulated market, so buyer beware. Some companies subject themselves to independent 3rd party audits to verify their claims.

    Quote Originally Posted by bookie View Post
    And could someone catch me up on the shadiness of Tether?
    Your first question is the basic foundation of all their shadiness, but it's a pretty deep rabbit hole. Watch this video for funsies:
    https://www.youtube.com/watch?v=-whuXHSL1Pg

    Quote Originally Posted by bookie View Post
    I always imagined there was a little fee taken out on every send like bitcoin for mining only to incentivize holding the reserve. But I don't know that, just guessing.
    I'm not well versed in the answer to this question. In the case of Tether, the answer may be that they invented the coin to make massive profits off of their scam. For a genuine stablecoin, I believe the answer is that the coin is intended to facilitate crypto transactions on the exchanges - it's the "grease" - and exchanges will have trading pairs between that stablecoin and all other coins so you always have a way of trading altcoinABC to altcoinXYZ without having a billion trading pairs on the exchange - you can always go through the stablecoin. So they have a great incentive to invent these stable coins - because it helps make their exchange function, and because they can command a small profit on every stablecoin trade due to the spread. For example, USDC was created by a consortium which was started by Circle and includes Coinbase.
    Last edited by DontTailMe; 11-25-21 at 04:37 PM.

  13. #13
    bookie
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    That's a super helpful video DontTailMe. I'm pro-crypto, but that sure seems like a big crack in the whole eco-system. Actually has me thinking about bailing on some of my holdings.

  14. #14
    5ympathy
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    Quote Originally Posted by PD77 View Post
    I tried to sign up for a beta tester but it wouldn’t let me. Opps, something went wrong… I guess they’re full.
    I had the same issue, but it's working fine now

  15. #15
    LLXC
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    Quote Originally Posted by randomuser View Post
    I reccomand you to take a look at this too: https://www.forbes.com/sites/zackjon...h=2f810e5e7481

    This is the official site of the project: www.betswap.gg
    I wonder what the liquidity is like on betswap?
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  16. #16
    roanildinho
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    interesting, will they limit winners??

  17. #17
    Optional
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    Quote Originally Posted by roanildinho View Post
    interesting, will they limit winners??
    They use Pinny's line in their marketing, "Winners Welcome".
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  18. #18
    agon
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    Quote Originally Posted by Optional View Post
    They use Pinny's line in their marketing, "Winners Welcome".
    Do you have any idea Optional when they will start operating? The site is not accessible right now.

  19. #19
    mdkpicks
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    Wow. This one really seems to be interesting using blockchain technology. Betting exchanges seem to me to be the logical way for bypass the bloated transaction fees and costs of the sports book oligopoly. Ultimately, my thought would be that it could do for sports betting what online brokerages have done for stock investors and especially day traders and take the roughly 52.5% breakeven point and make it much closer to 50% making well analyzed sports betting a viable way to make at least make some reasonable money (or not lose nearly so much) for many more people. In the long run, I'll still take the stock market (I'm a relatively small better who really just a finds a game more interesting with even a very small bet on it).

    Optional, thank you for this post. I would imagine someone who wanted to make say even a $1000 bet on a relatively lightly wagered event effectively betting with dozens of unknown others unknown to any of the parties with blockchain technology. Have you beta tested this or any other similar platform? I would be interested in more of your thoughts and experiences.


    Mark
    Last edited by mdkpicks; 11-27-21 at 04:30 AM.

  20. #20
    Optional
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    Quote Originally Posted by agon View Post

    Do you have any idea Optional when they will start operating? The site is not accessible right now.
    They say early 2022.
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  21. #21
    Optional
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    Quote Originally Posted by mdkpicks View Post
    Wow. This one really seems to be interesting using blockchain technology. Betting exchanges seem to me to be the logical way for bypass the bloated transaction fees and costs of the sports book oligopoly. Ultimately, my thought would be that it could do for sports betting what online brokerages have done for stock investors and especially day traders and take the roughly 52.5% breakeven point and make it much closer to 50% making well analyzed sports betting a viable way to make at least make some reasonable money (or not lose nearly so much) for many more people. In the long run, I'll still take the stock market (I'm a relatively small better who really just a finds a game more interesting with even a very small bet on it).

    Optional, thank you for this post. I would imagine someone who wanted to make say even a $1000 bet on a relatively lightly wagered event effectively betting with dozens of unknown others unknown to any of the parties with blockchain technology. Have you beta tested this or any other similar platform? I would be interested in more of your thoughts and experiences.


    Mark
    Beta test has not started yet. Just the signup (if it is still working)

    I have been hoping to see a true P2P betting exchange appear for years. This is still centralized and has an owner, but for the first time I know of we have a solution that does not require investors to be paid back out of the players pocket.

    This group is investing to get licensed and make their profit as capital gain on the business value. So I think this might actually work. Liquidity is the last brick needed to make it happen imho.
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  22. #22
    jjgold
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    Liquidity is the hardest issue

    Rarely works
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  23. #23
    mdkpicks
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    Quote Originally Posted by Optional View Post
    Beta test has not started yet. Just the signup (if it is still working)

    I have been hoping to see a true P2P betting exchange appear for years. This is still centralized and has an owner, but for the first time I know of we have a solution that does not require investors to be paid back out of the players pocket.

    This group is investing to get licensed and make their profit as capital gain on the business value. So I think this might actually work. Liquidity is the last brick needed to make it happen imho.
    Thanks to all for their responses. Some thoughts of my own. While I think blockchain is a great technology and for identification and validation (it will probably continue to add integrity to the sports memorabilia market), I am very leery on crypto or anything else that every country in the world seems to have an incentive to see fail.

    At first I said "Huh" to JJGold's comment about liquidity, but I admittedly don't know much about this industry. Then thinking more about the problems of Robinhood I believe he's spot on.

    Let's hope someone gets this right. Breakeven on minus 110 sports betting is 52.4%. Although sometimes non-commission costs are difficult to see in stock trading, I believe the cost of trading for most people is well under 1% now. I would hope that if successfully done this could bring break-even down to under 51% at least on highly bet games. I'm not sure if betting exchanges will ever become feasible for low volume stuff like small conference college sports, especially if they can't match betters across state lines (I have no idea if that is a restriction). But it's overall potential for sports betting is massive.

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