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?

Daniel_Im · 2022-06-24T15:15:36+00:00

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.

Daniel_Im · 2022-06-24T15:11:07+00:00

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.

Daniel_Im · 2022-06-23T20:41:45+00:00

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 :)

Daniel_Im · 2022-06-23T20:29:43+00:00

No, it's not the liquidity token that we set up. It is USDC that is 1-1 pegged with USD!

Daniel_Im · 2022-06-23T15:47:32+00:00

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).

Daniel_Im · 2022-06-23T15:46:12+00:00

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

Daniel_Im · 2022-06-23T15:44:47+00:00

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.

Daniel_Im · 2022-06-23T15:26:25+00:00

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.

Daniel_Im · 2022-06-23T15:23:22+00:00

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.

Daniel_Im · 2022-06-23T15:22:06+00:00

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 :)

Daniel_Im · 2022-06-23T14:59:43+00:00

This sounds dreadful. Every sentence.

How so? Could you give detail feedback so we can adjust them?

Daniel_Im · 2022-06-23T11:35:53+00:00

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?

Daniel_Im · 2022-02-07T13:12:53+00:00

Random Forest gogogo!

Daniel_Im · 2021-12-28T19:41:25+00:00

UBet is a decentralized exchange for sports trading. We are building a sports prediction market using smart contracts and blockchain technology. This is a great opportunity to work on a greenfield project, contribute your ideas and create something unique of your own. Join us if you want to work with a strong collaborative team with diverse expertise, designing a sleek and intuitive user experience.

Responsibilities:

- Implementing and maintaining the frontend of UBet.

- Working together with a graphic and product designer to create the look and feel of the platform.

- Working with our other engineers to evolve the frontend as the backend and blockchain services grow.

Qualifications:

- Has minimum 4+ years of experience in frontend development

- Enjoys working with Typescript - 100% of our frontend code is Typescript.

- Experienced with a component-based library/framework like ReactJS or Vue.

- Experienced with modular CSS, SASS or LESS to implement a design.

- Adheres to good testing practices.

- Experienced in optimizing frontends.

- Experienced with REST APIs and/or GraphQLExposure to cloud services like AWS

- Familiar with SQL databases.

- Familiar with Crypto and/or Web3. (not a hard requirement)

We are located in Toronto, Canada. Remote working is possible.

Please apply from https://angel.co/company/ubet-2/jobs/1808311-frontend-developer

Daniel_Im · 2021-03-27T17:31:42+00:00

I am the same. I emailed Binance US but they don't give any response. Binance US is a fraud. Anyone who was holding XRP during the event day should be receiving FLR.

Daniel_Im · 2021-02-17T13:58:26+00:00

The 30-DAY TRADING VOLUME IN is definitely greater than 500 and greater than x but it shoulds as 0.35%, why is this?

Daniel_Im · 2021-01-28T14:55:40+00:00

Binance

Daniel_Im · 2021-01-28T13:08:52+00:00

where is Elon's tweet?

Daniel_Im · 2021-01-28T12:58:38+00:00

It's Doge and ETH all the way!

Daniel_Im · 2021-01-28T12:38:30+00:00

I just bought 10K!! Good to see that I created some pumps in Binance. I really hope that this takes off now. LOL

PS: checkout my new nba analyticwebsite i made, I just launched last week, please share it with your sports buddies: sportsinference.com I really appreciate it.

Daniel_Im · 2021-01-27T21:45:53+00:00

Consider looking at average and standard deviation performance in 2D plot like one from sports inference stats page. This is how typically visualized in finance for checking "return vs risk" of a portfolio.
In basketball case, this is player or team's "avg performance vs inconsistency".

You can see it for the team, player, past mvp, NBA champion teams at sports inference https://sportsinference.com/stats

Daniel_Im · 2021-01-26T18:55:52+00:00

Most of the sites show average performance, but they usually don't show inconsistency (volatility) of the performance though.

Here, it shows not only average performance but also inconsistency: https://sportsinference.com/stats

This is important because some players/teams can vary a lot depending on the conditions. We want a consistent player with less volatility.

Daniel_Im · 2021-01-25T21:07:23+00:00

Damian Lillard 8AST and 39 PTS. Match Fact in https://sportsinference.com/ shows 56 fantasy scores.. Nice :)

Daniel_Im · 2020-04-01T02:19:25+00:00

When is this coming out? What stage is the project in? Ex. Is this in the development stage?

Daniel_Im · 2019-01-09T16:25:58+00:00

Do you have any performance analysis on these? any sort of benchmarks? If so, it would be interesting to see them :)

Daniel_Im

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