Sorry... did not get your point. U can can bet for your fav team's win. If they lose, u'll lose your coins and if they win, u'll win opponent's coins.

So that, if someone want to bet for match draw ...they can.

Opening post updated...

Today, there is another match between SRH & KKR. If escrow.ms can create 3 other addresses, I'll also update those in the OP.

Updated the opening post with these addresse... so u can safely bet now

You can place bet on May 18 matches between CSK vs RCB ... match result can be easily verified on Google after every match...

https://www.google.com/search?q=ipl+2014+schedule

I understand as a newbie it is difficult to be trusted. But, everyone has to start somewhere. Moreover, I asked for an escrow too...

https://bitcointalk.org/index.php?topic=576688.msg6294170#msg6294170


But have not received any +ve response as of yet...

https://bitcointalk.org/index.php?topic=574969.msg6307422#msg6307422


I still welcome any trusted & respected forum member to hold escrow for this. He needs to declare what % of the 5% house edge he wants ? Any abnormally high escrow fee will ultimately geoparadise the game itself. But, if we dont get an escrow I have no other way than requesting participants to trust me...

Let's hope people start participating in small amount.

No bet was placed on the previous matches as of yet. You may monitor the addresses mentioned in the opening post for any bets placed. I have updated the opening post with tomorrow's match.

So, we are starting off... match result can be easily verified on Google after every match...

https://www.google.com/search?q=ipl+2014+schedule

@Benson I'm not vanished and very much here ...Would u like to do the escrow for https://bitcointalk.org/index.php?topic=576688.0 or you think I should take it outside the forum ? I'm not very much aware of this forum's rules & regulations. So its good if u plz guide.

@kittucrypt Horse betting is not illegal... Vijay Mallya does it in India. http://www.outlookindia.com/article.aspx?202931

More info: http://en.wikipedia.org/wiki/Gambling_in_India

p.s. I think our commission will be so low in INR value and that would not bother any of the authorities, like it was for the exchanges. Moreover, I have no intention to convert those coins to INR.

I have a few questions...

1. Instead of BTC, if I chose the medium of bet as hen, then also is it illegal ? I still doubt if betting with anything except FIAT comes under any regulation.

2. @Benson Can u please PM me my IP u see as Mod ? I want to know how far I'm traceable.

Thanx for raising the question, I forgot to cover this point.

Minimum Bid = 0.0001 BTC

There is no maximum, but please play reasonably.

Coming to the second question... If someone bets 1 BTC, no one else bid and he wins, then by rule, he'll just get back his amount after deduction of 5% house edge. But actually I may able to return the whole amount if the escrow agrees, because as we are not yet running a site, we dont have an operating cost.

Thank you for putting in your concern. I welcome any senior/trusted member to do the escrow. First he needs to create 3 different fresh addresses to accept deposits. Once the bet is established, I'll post here which address should get what amount. He just need to transfer that amount to those addresses. I would also like to know what % of the 5% house edge should I account for him.

IPL has just kicked off and today is the third match day. So I thought of creating a thread for IPL betting as a forum pass-time. Please participate if you enjoy...

This is how I have planned the rules...

1. Players will always bet against a fact, i.e. which team wins.

2. Amount will be distributed among the winners according to their % of share.

3. 5% house edge will be deducted to run the service.

4. Minimum bet = 0.0001 BTC

5. Bet accepted till the opening ball of the match.


Below is an example with first match of KKR vs MI...

A bid against KKR for 1 BTC

B bid against KKR for 3 BTC

C bid against MI for 2 BTC

D bid against MI for 1 BTC

E bid against MI for 3 BTC

F bid against DRAW for 2 BTC


Therefore...

Total bid against KKR = 4 BTC by A & B, i.e. If KKR cant win, A & B will lose a total of 4 BTC

Total bid against MI = 6 BTC by C, D & E, i.e. If MI cant win, C, D & E will lose a total of 6 BTC

Total bid against DRAW = 2 BTC by F, i.e. If the match is not DRAWN, F will lose a total of 2 BTC

Total jackpot = 12 BTC - 5% of 12 BTC = 11.4 BTC

Match Result: KKR won the game

Therefore, 11.4 BTC will be distributed among A & B in 1:3, i.e. their bid ratio.


Bet result: A wins 2.85 BTC and B wins 8.55 BTC.

************************************So the game begins*****************************

June 1, 2014 - 1% house edge for this bet

IPL Final Match : KKR vs KXIP

Deposit address against KKR (You lose this amount if RR does not win) - 1KKRK8AJchhtP6eYR5TcH7Ur4nhDa1fkAu

Deposit address against KXIP (You lose this amount if KXIP does not win) - 1KXiPYjTEqrsSpY6ABfkyCtw74c34JYUC4

Deposit address against DRAW (You lose this amount if match is not drawn) - 1DRAWnfb154dksvyf1pFu2bs2wVmTuf1n1




Note 1: Please send funds from a single address as winning amount will be sent back to this address.

Note 2: Tx fee will be deducted from the jackpot before payment.

Note 3: escrow.ms is holding escrow for this bet.



p.s. Please understand I am running this purely on experimental basis. Please do not bet anything that you can not afford to lose.

Oh ...ya ...my bad

https://bitcointalk.org/index.php?action=profile;u=9119

Thank you everyone for voicing your opinion. I'm planning to start off with an IPL betting thread and take account of the participation before developing the website. I believe local laws are not going to be a hindrance here, because...

1. We will only be dealing with bitcoin and not FIAT. AFAIK bribing is crime, not betting within a community that cant influence a game.

2. None of the player's identities are required. Bitcoin addresses will be used as identifier.

Soon i'll be posting a thread detailing the steps of operation. Please keep us updated with your feedback...

My question is regarding a project I'm about to develop. I need to interact with blockchain, send and receive coin from and to certain addresses. To start off I dont want to run my own Bitcoind in the web. So, I would like to know which API is most reliable to perform these activities.

p.s. I checked blockchain.info ...but I think sending wallet password through GET is a security risk.

I'm doing good sir... though new to this forum

I was planning to launch a sports betting site using BTC. Would u like to participate ?