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Degens is the first non custodial betting exchange to be built on the blockchain utilizing audited smart contracts. No KYC, no bookies, no censoring. This is betting turned upside down.

Degens is a P2P sports betting exchange using the stablecoin DAI and operating on the ethereum blockchain. Degens has been on the mainnet since 2017 with over $20,000,000 DAI exchanged.




Do you think Donald Trump is going to crush Biden in the debates? Similar to the stock market, Degens offers the ability to buy/sell their position to realize a profit as the odds change. So you don't need to accurately predict who will win the election to profit, just predict the direction on polls/odds will move.

This ability to trade also means that if your favorite team is winning at half time, you can sell your position to realize profits.



All bets are recorded on the blockchain in a transparent manner. This allows the player to piggy back onto the bets that the most successful bettors are making.



Degens is proud to offer the industry's lowest fees. We are able to offer such low fees because Degens leverages the Ethereum blockchain and cryptocurrency, which eliminates many costs that affect legacy sports exchanges.

We charge 0.25% on the claimed amount. The claimed amount is the sum of your stake plus your winnings. So, at even odds (+100), our 0.25% fee will be 0.5% of your winnings. Trades at different odds will have fees that are a different percentage of the winnings:




Degens utilizes a smart contract which means your funds are always in your control. One of the leading smart contract auditing firms Quantstamp (https://certificate.quantstamp.com/full/degens) performed our audit and the smart contract is verified on Etherscan (https://etherscan.io/address/0x8888888883585b9a8202db34d8b09d7252bfc61c).

Leveraging the power of building on the blockchain, no personal information is ever required. You bet directly from MetaMask with the smart contract distributing funds auotmatically to the bettor on the winning side of an event.


Degens supports betting using the stablecoin DAI which MakerDAO released. We also support WETH, which is a wrapped version of ETH.



Degens is a proud portfolio company of Draper Goren Holm (https://drapergorenholm.com/blog/draper-goren-holm-backs-legacy-sports-betting-exchange-degens-in-equity-deal) which is one of the leading blockchain VC funds backed by billionaire investor Tim Draper (https://en.wikipedia.org/wiki/Tim_Draper). Degens also has received financial backing from the MakerDAO Community Development Fund. (https://community-development.makerdao.com/)

https://i.imgur.com/W5ABL6P.jpg

Sorry, we have the worst phenomenon we have ever experienced in 'exchanging on other sites, while betting gambling here .

We trust the gambling platform that provides direct exchanges.

There are many cases that afflict members here at the time of asset exchange.

example:

Topic: The Rock Trading Scam www.therocktrading.com Exchange Review fraud opinion (https://bitcointalk.org/index.php?topic=4975753.0)

Topic: Scam exchange: ovextrade.com (https://bitcointalk.org/index.php?topic=5194846.0)

Topic: Report Scams and Frauds Exchangers by Edgar (https://bitcointalk.org/index.php?topic=5163819.0)

It's not that I don't trust or doubt about your exchange, but we trust direct exchanges with the gambling sites that we play.

I'm not understanding, it's peer to peer sports betting and all bets are conducted using a public viewable smart contract that has been audited by Quantstamp. So when you bet, you are betting against someone else and never against the house.

Over $15,000,000 of bets have been placed so far since 2017.

I like the name.

Also, the non-custodial deposits/withdrawals are really nice given the fact that a lot of people recently are having issues with sportsbooks holding withdrawals without any reason. This gives the peace of mind back to the punters who can know for sure that they're going to get fairly paid out.

My main concern is that how you're going to guarantee liquidity in markets for all events, and how the selection of what markets are open will be made. Liquidity is the main concern of most decentralized exchanges, sportsbook or otherwise.

Why the name "degenerates"if I may ask? Probably casino thing? https://www.urbandictionary.com/define.php?term=Degen 
I would not use or visit a site with that name to be honest. Guess casinos that use the name are not interested in how their customers will feel when they know what the word means. Interesting features, but bad name unfortunately.

You are misunderstanding the meaning of degens here. Op provided the definition of degen in the title with reference to sports betting and its meaning is different when compared to its original definition.

The name could be a problem and it is a risky move since many people would misunderstood its meaning for something else which is why I do agree that its name needs to be changed asap to something more customer friendly.

I am not getting what is the wrong on the name of this platform. Since every domain is unique then they can't duplicate others, also did you found any other casino by Degens name? The link your referring it's a dictionary and showing meaning of 'Degen'. For more transparent their platform name is Degens. They had their own thoughts during select name. I don't think this is any major issue.

Why didn't you explain it from the start, that the Degens.com site is a Football bet, which can be exchanged for the ETH provided on your site's platform.

Your topic title with topic content is too convoluted, people understand it is an exchange site, not a football bet.

You're right, defining misleading understanding.

OP, change the title and contents of the topic, direct your goals, so people don't misunderstand him about your Degens.com site.

Well if you have issue regarding to that then maybe it's your own perspective but actually there's no issue regarding on that since there are some vital aspect that we need to look on it and the most important thing here is the transparency of the platform with a clear information about them but overall it's up to them on what name they select but if you don't want to play/bet then it's your decision.

I've checked out the website (degens). It's quite impressive but I'd to make a suggestion. Please add more markets, options and support more leagues. I believe that one area that your platform is lacking. Since I'm talking about support, I'd like you to add more payment options for other cryptocurrencies – BTC, LTC etc as opposed to using only ETH and DAI stablecoin.

I don't know if it's just me or anyone else but I had problem finding your mobile menu just because you used a gorilla picture on it. Looks odd. You might want to use the good ol hamburger icon.

Great comments but note that Degens is never in custody of anyone's funds, as we utilize ethereum smart contracts. Because is imperative to us to never have custody of a customer's funds, we cannot accept BTC, LTC or anything that doesn't run on the ethereum platform.

If you want to use BTC and give custody of your funds to someone random, check Nitrogensports.eu as they have a pretty legit reputation

Yes, it is a fun use of the word 'degenerate'

Also our slogan is, 'Where losers win'

Are these good branding decisions? I don't know, we will find out.

I have explored the platform, it is a good website for football betting, however I would like to know if they have plans to be Exchange? Is it the part that has not been clear to me if they have plans to place bets with Bitcoin? A good proposal can be through betting using Ligthning Network if what they want is to work with Smart Contracts, Ligtning is the best option, with that they attract more potential customers.

No, the Degens.com Sportsbetting Exchange is built on the ethereum blockchain, and uses smart contracts and ETH/DAI as its currency.

If you want to use Bitcoin, I'd suggest you use a centralized sportsbook such as Nitrogensports.eu

It looks pretty nice. But for me personally the volume isn't high enough and lack of enough markets. If at some day there appears a crypto betting exchange with the quality and all features of Betfair than I switch emmidiatelly. I personally like trading on a betting exchange but with no decent volume it isn't possible to do some trading and then the betting exchange just works as a regular book and you gamble. the only difference is that it is peer to peer.
But Most people that want to use a betting exchange search for exchanges where they can trade the sports markets (scalp, swing trading,....) in play cashouts (very important for traders), ....

So I do appreciate your work and site after having a look at it but it does not require what a betting exchange needs for me personally. Cause you only give opportunity to bet peer 2 peer. this is one very important part of a betting exchange but seems lot of crypto betting exchanges entirely forget to implement the trading opportunities and all features that are necessary. And that's one of the main reasons most betting exchanges do not attract the mass.

But again, nice site, good job, but not sufficient for me

It might be great as well if you could also compete with other sportsbook by providing bets for esports.

Wow, you have been operating this for a long time? But, I guess everyone didn't even heard you out since 2017 even when we're into the bullish trend. This is one of the few sportsbook that I've seen to accept eth and dai.

Thanks for your swift response. I now understand why only ETH and ERC20 powered  tokens are allowed. I look forward to trying out Degens in the coming weeks when I have spare funds. I'm curious though, how does your platform earns revenue if you don't take custody of users assets. Tx fees maybe? Curious.

Hello, we charge a 0.5% commission on all winning bets. This compares to Betfair that charges 4% I believe.

Yes, we agree that volume could be better and we are working on that.

Though for the Superbowl starting in a few minutes, we've done about $25,000 in volume on that event alone.

$25k is not bad but based from your website, you are here since 2017. you should have done much better than that. theres a lot of money in superbowl alone. but at least you are maintaining your site til now.
have you ran any promotional campaigns for your site? sometimes it would take only few marketing programs to be noticed by crypto enthusiasts who are into sportsbetting also

Degens.com has had volume of around $15,000,000 since inception with a marketing budget of $0. So we are quite pleased with the results considering that we didn't ICO nor have had any outside investment.

Thanks for the comments.

Well we cannot guarantee liquidity, though we soon will be opening up our API to allow market making programs to operate which should help with liquidity. And as what as what markets to list, players can request certain leagues and we'll add them based on demand.

The discussion at the moment is whether to start supporting political betting. We are leaning towards no.

i like the name of this site ' degens '  it was like a degen gambler   but being degen sounds bad to me  because  it refers to being addicted to gamble

  other than that  , this was my first time to see a sports betting site that accepts dai and eth  .  i guess this will now be the moment to try this coin as i never see it anywhere on the gambling site that im currently playing with though they also accept tokens and alts but only the major and top coins only  .

FYI - Automated market maker code for Degens has been released and can be found @ https://github.com/degensprotocol/degens-mm

No programming experience needed! An an odds source is included.

I have had a very good experience on the site, although I had not adapted to change from Bitcoin to ETH, I did it and I bet, the transactions are very fast, the truth is that the network is something that I admire, they have a good development, they have Thought about doing any signature campaign?

Can we see more markets added?
For example MMA/UFC and boxing.
It is popular sports in sport betting section

I will give my opinion... there are many sports betting sites that accept ETH, bitcoin and many altcoins as a means of payment. Why would anyone stop using the sports betting sites already established to use your sports betting site? that is the main point. In my opinion, to compete in this market it is necessary to offer what all other sports betting sites offer and add more features. In your case I think you should improve the design of your website first and I didn't see the TOS and FAQ

Thanks for your feedback.

Here are some of the reasons why Degens is different than the competiton:

- Non custodial. At no time do we have possession of your funds.
- Near real time grading. Within a minute, the match will be graded.
- 0.5% fees. Betfair charges 4%.
- No KYC. All users are anonymous and can access the site for any geography.
- Ability to back/lay which allows you to bet something WON'T happen. That's generally not available with a traditional sportsbook.

 

MMA/UFC are listed a couple of days before the fights start. Also feel free to request us to add any other events in our Telegram chat.

Degens has just listed betting markets for the 2012 US Presidential Election! (https://degens.com/?sport=Politics)

Donald Trump is 56% likely to win the election according to the market, with 'Field' at 46%. Field is anybody other than Donald Trump.

A signature campaign is a good idea. We'll look into that as we've just updated our AMM to make it a little prettier.

hi! Is there an app or is it just a web service at the moment ?

There is no Degens app, but we have made the site mobile friendly. If using on mobile, you'll need to access the site through a dapp browser such as Metamask.

Here a lot will depend on the marketing company and what they are still ready to do for this !
I think the community should also understand this

Hello team !
please tell me do you have any affiliate program at the moment ?

There is not an affiliate program. The reason for this is because Degens does no KYC whatsoever. So if there were an affiliate program, rational users would just refer themselves to save on fees :)

Traditional sportsbooks require KYC and can prevent this from happening to an extent.

I really liked degens.How can I know more about your project?

What would you like to know?

https://medium.com/@Degens has some good stuff.

Is there any referral program?

This comes with new concept of securing blockchain ecosystem that is very praise worthy.

It's not that unique. It's basically a blockchain version of Betfair/Matchbook which have been around for 10 years.

Main advantage of Degens is it is non custodial and requires no KYC.

No, Degens didn't do an ICO, so we don't have a coin. Also no bug bounty as Quantstamp has audited our smart contract.

Bets on Degens are made in DAI which is an ERC-20 token that tracks the US Dollar.

Do you have any article I can read?

The following article is regarding a recent equity investment that Degens received - https://www.crowdfundinsider.com/2020/07/164634-draper-goren-holm-invests-in-degens-the-blockchain-betting-exchange/

Also there might be some good stuff here if you are a bit technical - https://medium.com/@Degens

 I really don't understand how this works.can you help me to know more?

I am curious since you are  a decentralized sports betting platform, have you got sufficient customers since 2017?
We all know that a lot of players are more into bitcoin sports betting, but do you think you can survive in this business just by sticking with ETH/DAI?
One advantage that I'm seeing here is you don't require KYC as it is eth-based and you just need to login via your wallet.

Attracting customers is challenging for most dApps. Looks like we've had 73 unique users in the past month - https://dappradar.com/ethereum/gambling/degens

We need to stick to ETH/DAI as we are a non custodial sports betting exchange. Bitcoin does not support smart contracts.

Correct, there is no KYC needed. There is no need to login. You just connect via MetaMask 100% anonymously.

Who grades the bets?

Good question.

Currently the grading is centralized and conducted by the Degens team. We are working on a decentralized grading solution that we hope to release in the coming months.

Sports are a bit tricky as users tend to demand super fast grading times. For example, there is the 1PM NFL game which bettorr tend to want graded so that their funds are released before the 4PM NFL game.

Current decentralized solutions such as Augur with its REP token, takes 24+ hours which our users find unacceptable.

So we understand the desire for a decentralized solution and are working on figuring out the best solution.

Thanks for your question.

Why do I need to unlock Dai?

Are there live bets?

Easiest way to bet?

Can anyone create a market?

To communicate with any smart contract, you need to give the appropriate persmissions to MetaMask.

You want to be careful to ensure that the dApp that you use has an audited smart contract. You can see the Quanstamp audit of Degens here - https://certificate.quantstamp.com/full/degens

Actually at the contract level anybody can create a market.

However, our website only posts markets with trusted grader addresses. Which in practice of course means that users can't add markets to degens.com (which is the client most of our users use). Just pointing out that at the contract level degens has no special privileges.

Live bets are a little tricky due to the latency involved with transacting on the blockchain. You can trade in and out of your position before a game, but it's likely not wise to make bets during a game unless it's at half time.

Ethereum 2.0 seeks to solve these issues. So we are optimistic that when 2.0 is launched, we'll be able to facilitate in-game trading similar to Betfair etc.

As seen in the San Fernando Valley Business Journal..


https://i.imgur.com/W5ABL6P.jpg

No, there are not parlays. Parlays don't really work with a betting exchange model as there are infinite possible parlay combinations and you'd need to find a counterparty.

Degens has two views, sportsbook mode and exchange mode. For most users, sportsbook mode will be most familiar as it just displays what bets are available for you to take.

So the easiest way to bet is to use sportsbook mode, then just click the odds you'd like to take.

For more advanced users, you can switch to exchange mode which acts like Betfair. It allows you to place your own odds, effectively acting as a market maker/bookie.

FOOTBALL IS BACK!

https://i.imgur.com/ecZzl2B.png

FOOTBALL IS BACK!!!!

Degens, ethereum sports betting exchange.

Did I hear DEGENS airdrop?

https://degens.medium.com/ (https://degens.medium.com/)

Free money!!!

https://Degens.com (https://Degens.com)

Degens AMM - https://bitcointalk.org/index.php?topic=5222499.0 (https://bitcointalk.org/index.php?topic=5222499.0)

Official Announcement - https://degens.medium.com/degens-token-airdrop-34a6f6d4075b (https://degens.medium.com/degens-token-airdrop-34a6f6d4075b)

Balancer Pool - https://pools.balancer.exchange/#/pool/0x05c04d16da1a7efd6d6768a3f0e609c09f99710b/swaps (https://pools.balancer.exchange/#/pool/0x05c04d16da1a7efd6d6768a3f0e609c09f99710b/swaps)

Our Degens v2 has been released!

https://degens.medium.com/degens-v2-roadmap-b671d168c220 (https://degens.medium.com/degens-v2-roadmap-b671d168c220)

If you own $DEGENS, please upvote this to get added to Zapper.fi https://features.zapper.fi/token-requests/p/please-add-degens-balancer-pool (https://features.zapper.fi/token-requests/p/please-add-degens-balancer-pool)

$DEGENS token is how listed on Nomics - https://nomics.com/assets/DEGENS-Degens-Token?utm_source=twitter&utm_medium=bot&utm_campaign=new_asset&utm_content=degens&d=1607184341

NBA BETTING IS BACK! https://degens.com/?sport=Basketball

Degens, the Blockchain Betting Exchange.

Degens, The Blockchain Sports Betting Exchange, has been listed on CoinMarketCap! (https://coinmarketcap.com/currencies/degens/)