Bitcoin Forum

I'm launching a new Bitcoin betting site:

http://Pool-Anything.com (http://Pool-Anything.com)

Players can bet on existing pools or can create new betting pools about pretty much anything.

Players who do not win can still receive Consolation Prizes by upvoting the winning slot.

We currently support betting in BTC, LTC, and DGC.

Click here (http://pool-anything.com?landing=faq) for full rules and details, or read on for a general description:

When a pool ends, any players who participated in the pool can vote to confirm the winning slot. This helps everyone get their prizes faster, and any players who take the time to upvote the winner will be included in the Consolation Prize for that pool.

The basic goal is to have a way for participants to verify and complete their own pools (and to receive a reward for taking the time to do so even if they didn't win).

The winner of a pool gets 80% of the total pot, another 10% becomes the Consolation Prize and is divvied up evenly among all players who upvoted the winning slot. The remaining 10% is the house rake, it covers network transfer fees and server hosting costs (as well as hopefully making me stinking rich in the long run!)

An example of winnings would break down like this: Given a pool with 10 betting slots and a buy-in of 1 BTC, the total jackpot would be 10 BTC if all slots get taken. The winner would receive 8 BTC for his 1 BTC bet, and if all other 9 players take the time to upvote the winner then they each receive 0.111 BTC as their consolation prize.

The prizes are disbursed immediately upon the last vote being submitted, so by voting you help everyone get their prizes faster. The confirmation window lasts for 24 hours after the end of a pool -- players can submit a Winner Confirmation Vote any time in that window. If any players forget to vote, or if people vote for different winners, and the confirmation window comes and goes with no unanimous winner being decided by the players, then an Admin is alerted for adjudication.

The only requirement for a new pool is it must be for something that anyone can judge impartially to determine a winner. Eg, a sports match or a presidential election, even the birth date of a celebrity's baby -- anything  where the results can be proven by any party. To create a new pool you must specify a "Victory Condition" and a "Verification Source" so that if no winner is chosen by voting and an Admin has to adjudicate, the admin can look up the Victory Condition via the Verification Source to determine the winner impartially.

For example, a Victory Condition of "winning team" and a Verification Source of "ESPN.com" would be a good way to determine the winner of any sports match. If betting on a Presidential Election, the Victory Condition could be "New President" and the Verification Source could be "NY Times".