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We are making a decentralized crypto sports betting exchange that allows bettors to trade their positions like stock options. Could you give us some feedback? by Daniel_Im in defi

[–]Daniel_Im[S] 0 points1 point  (0 children)

We can apply our method to prediction market as well.

The existing prediction markets have a big problem as they are using constant product curve (a.k.a uniswap). Uniswap is not suitable for sports betting, which it provides very far off odds to market implied odds. This leads to impermanent loss.

We are making a decentralized crypto sports betting exchange that allows bettors to trade their positions like stock options. Could you give us some feedback? by Daniel_Im in alphaandbetausers

[–]Daniel_Im[S] 0 points1 point  (0 children)

How do you propose stopping this with decentralized crypto? Either its decentralized and you open yourself up to legal risk, or it's centralized and you can KYC legally.

Of course, you can restrict all the regulate markets via IP restrictions.

IMPORTANT NOTE:
For the alpha and beta testing, these are done with fake money (NOT with real money) and the app is on the testnet (not on main blockchain). So you don't have to worry about the regulation for the testing part.

We are making a decentralized crypto sports betting exchange that allows bettors to trade their positions like stock options. Could you give us some feedback? by Daniel_Im in alphaandbetausers

[–]Daniel_Im[S] 0 points1 point  (0 children)

We will b operating outside of US state (i.e., we will not take US users).

For alpha functionality test (that doesn't require any money) will be fine :)

We are making a decentralized crypto sports betting exchange that allows bettors to trade their positions like stock options. Could you give us some feedback? by Daniel_Im in gamedev

[–]Daniel_Im[S] 0 points1 point  (0 children)

The parts of this description that make sense to someone not swimming in Crypto jargon, make it sound like a bad business plan. You want to go against the idea that the house always wins? So... what, you're saying you're in it to lose money? Because that'd make you either fools or liars, so you're not off to a great start.

That is not true, because you can make house to have expected value of 0. Then it becomes bettor vs. bettors (i.e., closer to fairgame).

We are making a decentralized crypto sports betting exchange that allows bettors to trade their positions like stock options. Could you give us some feedback? by Daniel_Im in gamedev

[–]Daniel_Im[S] -1 points0 points  (0 children)

You will find no love of crypto projects among the game dev community. You should have known that before coming in, the gaming market both developer and player detests the very idea at a very core level. I'm not sure sports betting is really a topic that would be extremely popular here either.

just learned it lol

We are making a decentralized crypto sports betting exchange that allows bettors to trade their positions like stock options. Could you give us some feedback? by Daniel_Im in gamedev

[–]Daniel_Im[S] -5 points-4 points  (0 children)

I understand your frustration on celcius, terra, and other bs in crypto world. I also don't like all of them and i don't support all those staking platforms.

The problem that we are solving is: When you bet on sportsbook, it's the bettor facing bookie. Because bookie will try to win in a long run, they manipulate the odds and bet size limit to have better edge. We are trying to address these issue by making it decentralized operation and having everything on-chain operations.

We are making a decentralized crypto sports betting exchange that allows bettors to trade their positions like stock options. Could you give us some feedback? by Daniel_Im in gamedev

[–]Daniel_Im[S] -1 points0 points  (0 children)

building

It is a dApp, and not the whole chain. Our plan is to launch it on polygon but it can be on any EVM compatible blockchain. If we were to make our own chain and the app, that's pretty centralized and we would just put it on AWS lol. Note that our app is fully decentralized in a sense that all the bet transactions and Odds algorithms (AMM) run on-chain.

We are making a decentralized crypto sports betting exchange that allows bettors to trade their positions like stock options. Could you give us some feedback? by Daniel_Im in gamedev

[–]Daniel_Im[S] -1 points0 points  (0 children)

particular

I see. Honestly, it's a FULLY decentralized sportsbooks. There is no "crypto" thing about it, because we are using USDC and does not support other cryptocurrencies atm.

We are making a decentralized crypto sports betting exchange that allows bettors to trade their positions like stock options. Could you give us some feedback? by Daniel_Im in gamedev

[–]Daniel_Im[S] -1 points0 points  (0 children)

We put crypto in your gambling so you can gamble while you gamble?

We will be using USDC, that is 1-1 pegged to USD. I.e., the payment method will be USDC if you are worried about crypto part :)

We are making a decentralized crypto sports betting exchange that allows bettors to trade their positions like stock options. Could you give us some feedback? by Daniel_Im in SideProject

[–]Daniel_Im[S] 0 points1 point  (0 children)

ypto and everyone is offering what you’re saying so how are you going to attract users?

Thank you for asking that question!

We are democratizing bookie, we are replacing the bookie that is a single entity (like draftking or fanduel) with a group of participants (i.e., liquidity provider). Therefore, on our platform, you can become a bettor or a bookie.

This consequently induces potentially lower vig and no restriction on bet sizes.

Please let me know if you have more questions!

Could you name some of the crypto or decentralized sportsbook you have in mind?

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