Bitcoin Forum

This thread has been started to announce that Sports Trading Exchange is now accepting Bitcoin. Below are a few key points about our operation:

Commission-free trading
Strong Market-Making  Liquidity
Financial Binary Options
Major US Sports

Our Bitcoin system is manual to ensure security

Check us out at www.sportstradingexchange.com

Ill be posting updates on our progress in this thread

Bill Casher
Director of Communications
finance@sportstradingexchange.com

Hi Bill,
Welcome to the community; at first glance, I like the site. Need to know, where are you based?

If I had a nickel for every Matchbook clone that pops up, I'd be rich.. oh wait. :)

Good luck with it. People like Bitcoin because transfers are fast and essentially free. You charge 2% for withdrawals and only allow them twice a month? That will be a hard sell. Especially when most markets seem to be -105 (or empty). Plus currency exchange hit.

Pretty disingenuous to call it no trading fees, but best of luck to you.

I understand you view me as a competitor, so Ill say thanks for the comment. We've been accepting the other currencies listed for quite some time, so its not a hard sell. We are giving bitcoin a try now. When you have four currencies to move around , planned withdrawals work best Bets of luck to you as well.

BTW, we have tons of trades settling at ev or better everyday, but our market makers guarantee liquidity at -15 to -103

You may want to lay off some action with us in the future:). Regards

Bill

College Hoops Over / Unders for wins through conf season are up for trading. Follow this link:

http://www.sportstradingexchange.com/props.php?leagueid=11

I can see calling it no fees. If I understand correctly, I can offer -200 on something and someone can take it and we pay nothing to the site, is that right? As opposed to say, Gox, where there is a spread plus a Gox fee.

But, damn, up to 2 weeks for bitcoin withdrawals?

You are correct freemoney. I understand your view on withdrawals, but we dont want to sink massive funds into customer service for withdrawals. Our target market is the active/large trader , a little different than most bitcoin accepting sites. My feeling is we will find our niche. You can get -105 to
 -110 on a sportsbook or get +-100 to +107 with us. Also our Binary Options pay out WAY better than the traditional binary option sites.

Lastly, you can get large bets down, contrary to the other bitcoin sports betting sites.

Enjoy,

Bill

I do wish you well, but I don't expect a lot of Bitcoiners will accept payouts that infrequently.

Is once a day too much to do manually? Are you doing cashouts completely manually? Like copy/paste, enter amount, doublecheck? I know you can have a much better system than that for a few hundred bucks, maybe even free. I totally get not letting it fly automatically, but it should be: see tx, click ok, see tx, click ok, see tx etc

Am I understanding that all wagers are denominated in dollars? But you can bet on bitcoin price?

All bets are in dollars. I guess time will tell on bitcoiners, but the users of the other digital currencies have adapted to it. Again , we are going after serious sports bettors who happen to use bitcoin. Its not really worth it to cater to $5 bettors for us. Our average player has over $1,000 on deposit. We are looking to build a large exchange that is viewed as more than a betting site.

I will listen to all feedback and adjust if there is a need, however. Maybe Im being myopic, but I dont think the 1st and 15th is unreasonable if you are a serious trader/bettor.

I truly appreciate the feedback.

Prosperous Day To You

Bill

 Check out how to make offers on the exchange video at:

http://www.youtube.com/watch?v=Ebb6K9L4Ipc&feature=channel_video_title

Someone gave you bad information... there's no such animal :D. Not yet, anyway. We share your vision of "players who happen to use Bitcoin," and we'd like to make it a reality. But we're all in a position of having to create that market before we can tap into it.

Sapphire also settles daily for withdrawals over $50 because players are cashed in for USD. It's understandable to consolidate your transactions when you're trading large sums between currencies.

Lets keep each other in the loop. Seems like we have the same goals in mind. I like your site by the way. Hope biz is going well.

Bill

Okay, I'll be interested to see.

To further elucidate my situation, which I think is typical of a reasonable subset of Bitcoiners, I'm willing to try new Bitcoin sites out because I can deposit in less than and hour, try it and get my money back in either minutes or hours. Now I'm more familiar with the service, more likely to recommend it even if I don't want to use it on a large scale, more likely to think of it when the urge strikes, etc. I have no intention of being a high volume trader. If that happens it'll be by accident after I've been having fun with small amounts that I can transfer back to my poker account on a whim.

You are sacrificing one of the advantages of Bitcoin that I think is major. I don't think large traders like having money tied up any more than small traders.

It occurs to me now that you are going to have to go to the market for coins so your situation is a bit more complicated than I was thinking.

I'm starting to realize that my preferences are probably less common than I thought. I'm not even interested in betting dollars on stuff or holding an account denominated in dollars. Especially not waiting and paying a 2% fee for the conversion, which I realize you need to charge.

I think it will take awhile for my concept to sink in here. However, there is a sportsbook charging a 4.55% vig that takes bitcoin exclusively. They are offering -117 on the Ravens in NFL tonight... A -Minus 8.5% .. On the exchange tonight there were trades worth $4,500 at Ravens +104 A plus 2% vig. If youre a serious trader/bettor, its a no brainer to go with the exchange. If a small action bettor with no concern for the math of investing/betting, maybe you stick with that sportsbook. Being a poker guy, I think you get it.

The world is made up of different viewpoints:)

Peace
Bill

Without even using your site I'm pretty sure you're the best option right now.

It's not your job to be my fantasy site. Just saying what I would ideally want.

College Hoops Started out with a bang! Lots of offers on the Monday Games . Of course you can put up even better offers and meet another trader in the middle.

Bill

We traded $77,542 in college hoops markets last night. Bring your A game!:)

STE
Bill

Check out the International Index Markets

http://www.sportstradingexchange.com/props.php?leagueid=8

Happy Trading

I think this is great for Bitcoin, if the offshore gambling industry sets its eyes on bitcoin (or its succesors), it will be a... great success.

No MMA lines, bro?