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381  Economy / Gambling / Re: CasinoBitco.in Bitcoin Sportsbook and Provably Fair Casino | Live NFL Betting! on: September 19, 2014, 11:42:53 AM
Attempt to bet on a game -> "Sorry the odds for this bet has changed. " -> refresh page, odds still appear the same -> attempt to bet -> "Sorry the odds for this bet has changed. "

Happening for example on Roma vs. Cagliari at the time of this post.

EDIT: In fact, happening for many football (soccer) matches at the moment.
382  Economy / Services / Re: dice.ninja - Signature Campaign! on: September 16, 2014, 08:57:49 PM
I'd like to participate when available.
383  Economy / Gambling / Re: XBet.IO– the world's first distributed betting application on: September 16, 2014, 06:03:08 PM
1. Why is the fee taken from the matched amount and not from the net profit like other exchanges?
2. Why am I unable to see the amounts in the "view market"?
3. It claims that some BTC addresses are invalid even though they clearly are not.
4. Your signature claims "instant bets" even though as far as I understand bets have to enter the blockchain (a matter of minutes) first.

Thank you for your interest in XBet.IO.

As you can see, we are now quite busy but we will gladly answer any questions you may have after we are finished integrating the new feature.


You have asked valid questions and we will address them in order:

1. The fee structure is embedded inside the counterparty technology we are using to keep users' funds safe in the protocol's escrow. The 1% fee is considerably lower than standard betting sites.

2. We are working on improving that display, We will update shortly.

3. We have received another report on this issue from another user but none of our tests has shown any problem with BTC addresses. Please PM the address you were using and we will take care of it.

4. In XBet.IO, bets are settled publicly on the blockchain. For that reason, only after one confirmation bets are considered valid by the Counterparty network. Normally, if a user has XCP, it can place a bet immediately from its own wallet. On XBet.IO, we have developed a system that allows users to make a bet just as fast using BTC. We have been able to cut down the delay and make it as fast as one block from the moment the BTC deposit is made, until the moment the bet is placed on the blockchain. From the user's perspective, a bet takes only seconds to make, and all the heavy lifting is made "backstage" by XBet.IO.



1. Fair enough, that appears to be how counterparty works. Note that there are betting exchanges, such as matchbook.com, that offer 1% fee on net profit. Even exchanges that offer 2% fee on net profit, such as smarkets.com, are better for the bettor for odds less than a certain threshold.
2. I see you've added it, thanks, as that's crucial when the site doesn't have that much liquidity and you are just the ones creating most of the odds. But I would just like to confirm: the amounts below the odds for LAYING are supposed to represent the BACKER's stake, not the layer's risk. Is that the way it is?
4. I'm not sure how that addresses what I wrote. I realize you automatically convert BTC to XCP, but betting, as far as the user is concerned, are in no way instant and in fact take whole minutes to register.

A new question regarding the new feature you introduced: what is the benefit to being an "oracle"?

Lastly, when attempting to bet using BTC I see this: "Your winnings and any unmatched part of your bet, will be sent as is, in XCP, to your bitcoin payout address. Next time you place a bet, you will be able to use them to bet safe without depositing". I don't understand how this works. How do you send XCP to my BTC address?
384  Economy / Gambling / Re: Here are a few of the worst mistakes we've seen when sportsbetting on: September 13, 2014, 01:54:16 PM
How about betting on a sportsbook that has 10%+ margin?
385  Economy / Gambling / Re: XBet.IO– the world's first distributed betting application on: September 13, 2014, 11:22:06 AM
1. Why is the fee taken from the matched amount and not from the net profit like other exchanges?
2. Why am I unable to see the amounts in the "view market"?
3. It claims that some BTC addresses are invalid even though they clearly are not.
4. Your signature claims "instant bets" even though as far as I understand bets have to enter the blockchain (a matter of minutes) first.
386  Economy / Gambling / Re: JETWIN – The widest range of Pre-match Odds on: September 09, 2014, 04:41:08 PM

We have bought their software and our IT team has been developing it. We bear no other relations to them. Before buying software platform, we had received the written confirmation stating that they did not owe any debts to their players.



Can you provide some documentation of said interaction with them?
387  Economy / Gambling / Re: BetXCP - Decentralized sports betting - Vig free on: September 03, 2014, 07:51:33 PM
I would like to see the whole XCP/Counterparty abstracted away using this vennd service. Obviously, you also need more matches.
Also, I don't really understand the time differentials involved. How long does it take for bets to be active (i.e enter the blockchain), and how can one overcome the fact that the bets aren't instant and that the odds you say may not reflect the real odds when the transaction enters the blockchain.
388  Economy / Currency exchange / Re: [WTB/WTS] BTC with SKrill, Neteller, Indian Bank Transfer, on: September 03, 2014, 05:46:57 PM
Can I buy BTC your through my Skrill? What would I need for that?
389  Economy / Gambling / Re: BETABIT.co.in - The Bitcoin Betting Exchange - Now in beta on: August 26, 2014, 08:41:29 PM
Around 2 weeks have passed without any support interaction...I'm not sure what to think anymore.

I am afraid it is about time to take it as a loss.
How much you have on the site?

Around 0.4
It's weird because I think I was one of their few pretty active players and I think they put more effort into everything than to just scam for a bitcoin or two.
390  Economy / Gambling / Re: BETABIT.co.in - The Bitcoin Betting Exchange - Now in beta on: August 26, 2014, 03:08:44 PM
Around 2 weeks have passed without any support interaction...I'm not sure what to think anymore.
391  Economy / Gambling / Re: How to convert Bitcoins into cash, using bookmakers and arbitrage techniques. on: August 23, 2014, 10:10:48 AM
How does it actually work though? How do you bet on fiat books through them? How much does the intermediary (asianconnect) charge you?
Perhaps you can explain the model/add a few screenshots, leancuisine
I'm not really great at explaining. Tongue


1. You tell AsianConnect you want to deposit X BTC.
2. You send the deposit and tell them (AsianConnect) what sportbook(s) you want to bet at.
3. They create the account(s), they deposit the $X amount converted into those account(s).
4. They send you the account detail(s).
5. You bet away.
6. You either lose it all or withdraw (converted back to Bitcoin).


I don't think I can explain it better than that. Wink

How do they make money then?
392  Economy / Gambling / Re: How to convert Bitcoins into cash, using bookmakers and arbitrage techniques. on: August 22, 2014, 04:24:49 PM
How does it actually work though? How do you bet on fiat books through them? How much does the intermediary (asianconnect) charge you?
Perhaps you can explain the model/add a few screenshots, leancuisine
393  Economy / Gambling / Re: BETABIT.co.in - The Bitcoin Betting Exchange - Now in beta on: August 22, 2014, 09:31:53 AM
A week without any contact is absolutely unacceptable.
There is a withdrawal pending on my account (someone hacked me) for a week now, which I would like to CANCEL (I sent a support message the same day).
394  Economy / Gambling / Re: SPORTS BOOK RANKINGS ~ USER GENERATED & MOST ACCURATE (PLEASE CONTRIBUTE) on: August 20, 2014, 05:26:56 PM
Fairlay - 5
I had a very unique experience with this site: Around a week ago, my computer was infected with a trojan that presumably stole all my sessions and cookies. The attacker proceeded to sift through my various online accounts and requested withdrawals to his address on all my bitcoin-related accounts; I had around 2BTC on fairlay. When I noticed this the next day, I immediately sent an email to Fairlay asking not to process the withdrawal. I received an email back stating that the withdrawal would not be sent. Unfortunately, likely through a miscommunication or the like, the withdrawal did go through and the attacker received my 2BTC, I was really devastated. To my surprise however, after I emailed support about this, the owner of the site claimed responsibility for the lack of miscommunication and completely reimbursed me the 2BTC, out of his own pocket. So that should tell you how they treat their customers Smiley
Otherwise, I like the site. In general I like the idea of a bitcoin betting exchange. In addition, the commission is really low (2% on net winnings), and the interface is really clean and user friendly.
395  Economy / Gambling / Re: BETABIT.co.in - The Bitcoin Betting Exchange - Now in beta on: August 01, 2014, 04:09:15 PM
My support message from around a week ago, where I requested to have a bet from the 17th settled, has still not been dealt with.
We are trying to find the issue, it seems to be a very rare bug with the settlement. We will settle it today however and send you a compensation for the wait, very sorry about that.

xoomo - we will add more sports within 2-3 weeks, MLB and tennis for sure, we are considering also other options.

Thanks, what was worrying was the lack of communication for a few days, esp when a few people have reported withdrawals not coming out.
396  Economy / Gambling / Re: BETABIT.co.in - The Bitcoin Betting Exchange - Now in beta on: July 31, 2014, 09:08:19 AM
My support message from around a week ago, where I requested to have a bet from the 17th settled, has still not been dealt with.
397  Economy / Gambling / Re: [ANN] Bitcoin Bet Exchange Coming Soon - Looking for Affiliates and Partners on: July 17, 2014, 05:52:39 PM
The site looks quite barren and lacking in information considering the claim it has been in development since Feb 2013. Basic info such as commission structure is lacking.
Also the American jargon and style everywhere is quite off-putting and confusing for what I assume will be the majority of your audience.
398  Economy / Gambling / Re: Betting Exchange Question on: July 16, 2014, 10:22:16 PM
Quote

It is but all depends what odds you will get on odds side, normally you will not get better odds on back side.

What do you mean? So the 2.5 I see I can't actually get? If I want to back 'Under 4.5' and I want to be 100% sure I will be matched, do I bid at 2.54?

Quote
And if you lay over 4.5 and back under 4.5, you are just doing backing under 4.5 in both bet.

Yes but the market right now says I can lay over at 1.67 but back under at 4.5.. that's what I don't get, that discrepancy.. :S

If you back under at 2.5 and back over at 1.64 with an equal potential win, then your expected result is a loss, if that's what you're asking.

Whoops you're right yeah, correction: Why would anyone LAY over at 1.67 (hoping that 'Under' happens) when they can BACK under (hoping that 'Under' happens) themselves at 2.5?

Laying 1.67 gives raw back odds of around 2.49, so I guess it would be slightly better to back at 2.5, but not anything dramatic.

What does raw back odds mean? :S Isn't laying at 1.67 just mean you will pay back 1.67 * [what the backer stakes]? So if I lay [Over] $100 at 1.67 then I win $60 if it's [Under], or I lose $100 if it's [Over] no?

The 1.67 refers to what the backer gets. If you lay over at 1.67 and backer bets 100usd then if it's over you get the 100usd and if it's under you lose 67usd, leaving you with a net of 33 usd left.
It's raw because because it doesn't take into account the 5% profit commission.
399  Economy / Gambling / Re: Betting Exchange Question on: July 16, 2014, 09:54:21 PM
Quote

It is but all depends what odds you will get on odds side, normally you will not get better odds on back side.

What do you mean? So the 2.5 I see I can't actually get? If I want to back 'Under 4.5' and I want to be 100% sure I will be matched, do I bid at 2.54?

Quote
And if you lay over 4.5 and back under 4.5, you are just doing backing under 4.5 in both bet.

Yes but the market right now says I can lay over at 1.67 but back under at 4.5.. that's what I don't get, that discrepancy.. :S

If you back under at 2.5 and back over at 1.64 with an equal potential win, then your expected result is a loss, if that's what you're asking.

Whoops you're right yeah, correction: Why would anyone LAY over at 1.67 (hoping that 'Under' happens) when they can BACK under (hoping that 'Under' happens) themselves at 2.5?

Laying 1.67 gives raw back odds of around 2.49, so I guess it would be slightly better to back at 2.5, but not anything dramatic.
EDIT: It could be that your confusion comes from the fact that you haven't realized that 1.67 is the BACKER's odds, not the LAYER's
400  Economy / Gambling / Re: Betting Exchange Question on: July 16, 2014, 09:32:45 PM
Quote

It is but all depends what odds you will get on odds side, normally you will not get better odds on back side.

What do you mean? So the 2.5 I see I can't actually get? If I want to back 'Under 4.5' and I want to be 100% sure I will be matched, do I bid at 2.54?

Quote
And if you lay over 4.5 and back under 4.5, you are just doing backing under 4.5 in both bet.

Yes but the market right now says I can lay over at 1.67 but back under at 4.5.. that's what I don't get, that discrepancy.. :S

If you back under at 2.5 and back over at 1.64 with an equal potential win, then your expected result is a loss, if that's what you're asking.
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