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This looks exciting if you'll be able to pull it off in the manner you expect to!
I'd like to see eSports, mainly CS:GO being added as there's currently not that many bookies around offering good options for it.
Hi Hhampuz, you are not the first to suggest eSports! It’ll have to be something we look into, but may not be possible for launch. Thanks for your thoughts. |
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Also, just a few features I'd like to see since we don't hear from you all as often on telegram anymore.
- I think the feature that needs to be emphasized the most is the peer to peer nature of the exchange. I think it would be a cool addition if you could add people as friends, and send them bets directly to accept or decline. This would make it much more interactive for friends to enjoy, and thus, spread that much more virally. And, it could become one of those things where people's casual bets that they never follow through with would be enforced on the blockchain. So you could never say "oh well we never shook on it so it doesn't count."
- Much like the bitshares system, Bookie needs a dollar-stable currency. I think a ppyUSD would be a great way for newbies to mitigate their risk of using the ppy system and remove the volatility, while allowing those of us who believe deeply in the project to shoulder that risk/reward by creating ppyUSD. I don't think the cryptocurrency world will adopt a good betting platform unless this is an added feature. The casual bettor just wont accept betting $5, winning, and then getting $5 back because the cryptomarket tanked like it is now. I'm guessing this should be a relatively easy addition, considering ppy's roots in bitshares/graphene. I have said this before, but have never heard back on how/if this will be implemented, but I think it would be a very strong selling point to potential users.
I may chime in with other features if/when I think of them, but thanks for your time.
Welcome! I’ll reply to both of your messages here. 1. The Masters - This is a great event. We actually ran a non-binary Super Bowl betting market during Bookie Beta Phase 1 this past weekend - "Which player will be named MVP?". The results were positive, so this is absolutely the type of event we can target in the future. That said, another key element of bringing certain sports on board is to have resilient data feeds in place that allow automated market management in that sport. As a Witness you are particularly well-placed to help make this happen in the run-up to Bookie launch. We look forward to your participation in making your suggestion a reality! 2. When PBSA began thinking about sports betting, we wanted a model that could be easily decentralized and where there was already an existing market to disrupt. Betting exchanges fit this perfectly - they are already P2P and have carved out a huge market for themselves during the past 15+ years now. Betting exchanges anonymize your bet and make it fully fungible in a standardized marketplace. Introducing a feature that allows users to place bets directly against each other would be cool but there is simply no existing market for this kind of product. PBSA is dedicated at this stage to bringing provably-fair product to the Peerplays blockchain - product that will scale up and disrupt existing gaming markets. Head-to-head betting may be something to look at further down the line. 3. This is an interesting idea and, of course, something we have spent a lot of time thinking through. Bookie is one of many crypto-projects that would benefit from a resilient, scalable stablecoin. As a Graphene chain, the possibility of something like a ppyUSD is there, as you say. Although it is unlikely to be something you see on Bookie at launch, we are continually looking at ways that Bookie (and other Peerplays DApps) can be made more accessible for the casual market. Thanks again for your ideas. We look forward to hearing your future thoughts when they pop up! |
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The poker world series would be a good one - bet on who you think the finalist would be/winner
That’s an interesting idea. Could be something that’s added in time, but not likely for launch. Thanks for the suggestion! |
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Additional question to upper one - is it possible to void, modify results, unsettle bets manually? Jurisdiction rules (Regulation organizations) will be applicable (which one?) to bookie or you will be some type of outlaw?
Actually, good question. At the moment, only one or two crypto-accepting bookies have good documentation on some of the unconventional rulings for sports bets. In general, most bets will be easily settled, but when there are contentious events (was the goal scored in 90th or 91st minute?), how long must the boxing match round last to be considered a full round (remember the controversy with Mayweather/Connor in August on a lot of bets made lasting 10 rounds)? I'm guessing any blockchain-based sportsbook (I don't know Peerplay very well unfortunatel) could benefit from smart contracts that make some rules very clear, arbitrated by... some parties? Right - on-chain smart contracts are at the heart of what Bookie is doing. The actual algorithms that are used to settle any particular market will be published for anyone to check. We do not foresee a need for arbitration (these settling algorithms should just do their job) but, as above, manual settlement by Witnesses is always a last resort. As always, a majority of Witnesses need to agree on a result/settlement before it gets executed. |
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Additional question to upper one - is it possible to void, modify results, unsettle bets manually? Jurisdiction rules (Regulation organizations) will be applicable (which one?) to bookie or you will be some type of outlaw?
Node operators ("Witnesses" on the Peerplays blockchain) on the Peerplays blockchain will be able to manually report results (although we expect 99.9% of results to be handled automatically by the Oracle system). However, no single Witness will have the power to decide results/voids/bet settlements - it will require a majority (50%+1) of Witnesses to agree on results and bet settlements before they become accepted as "fact" by Bookie. At launch, there will be no "resettlement" of bets. But a feature for Bookie is scheduled for release later in 2018 that will allow bettors to flag results they think are wrong and, if a certain number of users flag a particular result, Witnesses will be obliged to resettle the market manually to ensure correct resolution. More details on this later in the year. |
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How will Bookie verify the results?
Hello mr-whitekey, Bookie will source all sports data and results using a decentralized Oracle system that is built into the underlying Peerplays blockchain. This Oracle system is fed by multiple sports data feeds. |
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I bought PPY during the crowdsale and when possible transferred them to my wallet and then forgot all about PPY. As I look through this thread I see there was a payout of dividends. How many PPY need to be held to get any dividends? I don't hold a lot and I'm happy seeing the price has increase a nice percentage over the crowdsale price and that this project is continuing to progress.
No minimum but the payouts were very small because it is based on Dapp usage. As the number of Dapps increase and their respective usage increases, dividend payouts should also increase. Thank you. I have very little as this was my first ico I ever bought and might have been my 2nd crypto I ever bought.. btc being the first lol. Hi there. That information is correct. You can read a bit more about the first payout (and really, how it works overall) here: https://steemit.com/peerplays/@taconator/peerplays-blockchain-distributes-first-rakes-to-stakeholders |
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PBSA announcement to Peerplays Witnesses, 16 January 2018In December 2017, PBSA announced plans to implement new communication channels with Witnesses on the Peerplays blockchain. PBSA has chosen to use Atlassian’s Confluence product as a password-access “Peerplays Witness Space” to facilitate better knowledge sharing, more effective discussion, and timely handling of new software releases, bug-reporting, and other issues that may affect the Peerplays blockchain. Apart from Witnesses, employees of PBSA and certain of PBSA’s partners will also have access to this space. The full announcement, along with instructions on how Witnesses gain access to this space, can be found here: https://peerplays.atlassian.net/wiki/spaces/PD/pages/31817860/16+Jan+2018+Witness+Announcement Is there actually a minimum amount of PPY required to become a witness or is it determined through voting on the blockchain based on individually submitted proposals? Hi SixFigures, Thanks for the message. You can read about becoming a Witness here - https://www.peerplays.com/resources/#witnessesYou may also want to check out the Peerplays Telegram channel at https://t.me/peerplays. Some current Witnesses are pretty active in the chat. |
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I think you would be mad not to have horse racing. Especially UK horse racing. It's always exchange's biggest earners due to the number of races in a given day which for UK & Ireland is over 20+. End of Q1 is Cheltenham festival where volume on betfair is over £120m turnover not to mention the other exchanges.. I think you should really consider it as an alternative, much bigger market than e-sports market where currently no real interest on current exchanges.
Hi darksideday, yes horse racing is hugely popular. Bookie won’t be offering this at launch, though, as it’s a little more complicated to bring to a decentralized betting exchange than other sports. But, it’s on our radar for the future. Agreed that betting on e-sports is minimal right now, but will be interesting to see how it grows. |
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Not quite sure how you will get away with not being classified as a betting exchange certainly from what I read about UK gaming law. But hope you manage to pull it off as its high time the traditional sportsbooks who make millions and offer bad value to punters were disrupted!  Will you also be regulated to Oracles for event result determination? Hi Judester, Bookie will be fed with sports data through a decentralized Oracle system. Thanks! |
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It is only limited as an app?
And who is the team exactly who are behind this PPY betting exchange?
It is a new venture in the market so just wish you had done an ICO for it or something like this when I first hear about this.
It is a different take on your normal sportsbetting site/app from a peer to peer interface.
Hi Lionidas, Yes, it's a desktop app, and will be available for Window and Mac. We are the [Peerplays Blockchain Standards Association]( http://www.pbsa.info), the non-profit advocate of the Peerplays blockchain. The Bookie sports betting exchange is to be an open-source desktop DApp ( Decentralized Application) built on the the Peerplays blockchain. Launch is scheduled for this Spring, and beta testing will commence in a few weeks. Thanks! |
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Hello Everyone, We just sent out the most recent Bookie newsletter. You can view it here, and also sign up if you wish. Thanks! - The Bookie Team (PBSA) |
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Hello BitcoinTalk, Welcome to Bookie! Bookie is the world’s first decentralized betting exchange. What’s a betting exchange?When you bet with a sportsbook, your wager is matched by the “house” (the sportsbook operator). If you win this bet, this sportsbook operator pays you directly. But with Bookie there is no house. Instead, Bookie matches your bet with other users who want to bet against you. Betting exchanges provide the user with huge flexibility - you can bet FOR Team A to win (“back Team A”) or AGAINST Team A winning (“lay Team A”). What’s decentralized about Bookie?Instead of running on a private, centralized server, the Bookie app plugs into the Peerplays blockchain - a custom-built gambling blockchain that scales to 10,000+ transactions per second. Backed by Peerplays, there is no central operator to run off with your funds, refuse or delay payouts, or cheat you out of money. Just as Bitcoin and its kind have decentralized currency, Bookie decentralizes sports betting. Why should I use Bookie?- Truly Global, 100% Secure – Anyone can place a bet, from any country in the world, with 100% secure deposits, withdrawals, and bet placement.
- Provably Fair – Traditional sportsbooks and betting exchanges run on private, centralized servers, using proprietary software. Bookie runs on 100% open-source software.
- 100% Real-time Transparency - All Bookie bets are published on the Peerplays blockchain in real-time. No secrets allowed… it’s built into the tech!
- Same Fees for All – Bookie will charge an industry-low commission on winnings to all users. Whether you bet big or small, once a day or once a year, Bookie treats everyone the same.
- Private, Anonymous Control of Funds – Bookie offers users the best of cryptocurrency: no KYC (Know Your Customer), multiple wallets/accounts, maintain anonymity while you bet.
Bookie is fully transparent, provably fair, and offers users the speed, capacity, and functionality required to become the first truly global sports betting exchange. Launch schedule for Bookie Bookie will be released as a downloadable app (or DApp - Decentralized Application) in Spring 2018. Here are some key milestones leading up to launch: - Your Opinion Matters - We want your opinion on which Sports and Competitions (Leagues) to launch with! A thread was already created here and the conversation has started. Let us know what you think.
- Beta Testing - The first round of beta testing is slated to start in the coming weeks. Testers have already been approved, but if this is something that interests you, keep an eye out for future calls for more testers.
- New Website - You can find the Bookie website in its original state at bookie.exchange, but it’s being redesigned at this very moment. Stay tuned for a relaunch in the coming weeks - we’ll have more news, more info, more Bookie.
Where you can find us: Twitter Newsletter Website There’s so much we’d like to share with you about what Bookie is and how it will work but we wanted to keep this short… Look forward to questions and feedback! Thank you!-- The Peerplays Blockchain Standards Associationwww.pbsa.infowww.peerplays.com------------------------------------------------------- UPDATES:January 19, 2018 - Bookie NewsletterFebruary 1-13, 2018 - PBSA oversees Bookie Beta Phase 1 February 23, 2018 - Bookie NewsletterFebruary 25, 2018 - PBSA releases Bookie Beta Phase 1: Recap, posted to Steemit
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I'm glad more decentralized sports betting are arriving these days, they will be a really improvement in terms of trust and security in the online betting community. As for your questions, I usually only bet on football, and tennis, so for me those would be enough. Major European leagues would be mandatory in football, as well as Champions o course. As for tennis, I would settle with grand slams and major tournaments. I like seeing a good option of markets, but they are useless if they don't have liquidity, so I'm ok with the basics as well. There is something I really like, that is the ability to lay teams, since it opens a lot of opportunities in sports betting, and normally results in better odds. Are you going to allow bets against and in favor in your markets?
Hi Bolt Brownie, Thanks for sharing your thoughts, and for your interest in Bookie. To answer your question: Yes, Bookie will allow users to Back or Lay any selection (team/player). This feature - allowing users to take either side of a bet - sits at the core of the betting exchange experience. It provides users with a much more flexible way of interacting with betting markets, compared to the traditional sportsbook model. As you correctly point out, liquidity is a key requirement for any functioning betting exchange. Part of the Bookie development effort is directed at providing well-documented APIs so that market makers can bring liquidity to Bookie, in the same way as occurs with existing exchanges. More news on this in the coming months. |
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OP, do you really need censorship resistance and go through the inefficiencies of the blockchain only to set up a sports betting exchange? What is the value proposition of this idea and what difference does it make if I use a regulated counterpart of your service that accepts Bitcoins and altcoins?
Hi Wind_FURY, good questions. Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps): - Provably fair - All source code for Bookie will be available on Github. No secrets.
- Real-time transparency - All Bookie bets published on a public ledger in real-time. No more doubts or arguments about what bet was or was not made, what the stakes were, for how much, etc.
The same can be achieved by your centralized counterparts, so there is no added value in using a blockchain there. You will also for sure have problems with scaling some time in the future, unless your solution is not to have a large userbase. But how would you attempt to solve that if you do? - Decentralization - assuming posters here see the benefits of a decentralized currency
 ... we think there are similar upsides to bringing decentralization to sports betting. And a betting exchange (P2P) is a great fit for decentralization, as opposed to a sportsbook/house model which is de facto centralized.
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced. Hope that answers your questions! I could see some benefits of censorship resistance in your service. A good example of it would be if you are running an illegal and unlicensed P2P betting exchange. Are you running one? Graphene / DPoS / Peerplays have no problem scaling. https://hackernoon.com/explain-delegated-proof-of-stake-like-im-5-888b2a74897dhttps://bitshares.org/technology/delegated-proof-of-stake-consensus/As mentioned in a previous reply, thanks again for bringing up the scaling abilities of the Peerplays blockchain! |
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Thanks again for the questions! Will jump right in... OP, do you really need censorship resistance and go through the inefficiencies of the blockchain only to set up a sports betting exchange? What is the value proposition of this idea and what difference does it make if I use a regulated counterpart of your service that accepts Bitcoins and altcoins?
Hi Wind_FURY, good questions. Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps): - Provably fair - All source code for Bookie will be available on Github. No secrets.
- Real-time transparency - All Bookie bets published on a public ledger in real-time. No more doubts or arguments about what bet was or was not made, what the stakes were, for how much, etc.
The same can be achieved by your centralized counterparts, so there is no added value in using a blockchain there. With a centralized architecture, there is always a single authority who decides what transactional information is released and when (if ever). By using the Peerplays blockchain as back-end, Bookie as a matter of fact has full, public, real-time disclosure of all transactions. This is built in to the tech - every bet By the way, does anyone know of any centralized sportsbooks or exchanges that offer full, public disclosure of every transaction in real-time? We haven't heard of any, but interested to hear others' experience.
You will also for sure have problems with scaling some time in the future
Thanks to the Dmo09 for bringing up how DPoS & Graphene allows the Peerplays blockchain to scale (up to 10,000 transactions per second and beyond). More info (including the BitShares stress test) can be found here: https://www.peerplays.com/resources/#graphene
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced.
Hope that answers your questions!
I could see some benefits of censorship resistance in your service. A good example of it would be if you are running an illegal and unlicensed P2P betting exchange. Are you running one? The Bookie app is being developed by PBSA (that's us!) - check out http://bookie.exchange/ for the back story. Once released, the Bookie app will be downloaded by end users and connect to the Peerplays blockchain, which takes care of all bet matching and settlement. The Peerplays blockchain is fully decentralized. PBSA has no operational or executive role in its operation. Independent "Witnesses" run the Peerplays blockchain ( https://www.peerplays.com/governance/#witnesses). So... No. PBSA is not running a betting exchange, unlicensed or otherwise. But this is new tech and it doesn't fit neatly into established, traditional models. We really appreciate people like Wind_FURY taking the time to help us explain the disruptive tech behind Bookie and Peerplays. |
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I would really like to see options for betting on Oscar winners (Academy Awards)!
Possibly also betting for the Emmy and Grammy show down the road, but Oscars is definitely the biggest!
Hi gandalfs, Very fun idea. Could certainly be something we look into one day. Thanks for the message! |
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OP, do you really need censorship resistance and go through the inefficiencies of the blockchain only to set up a sports betting exchange? What is the value proposition of this idea and what difference does it make if I use a regulated counterpart of your service that accepts Bitcoins and altcoins?
Hi Wind_FURY, good questions. Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps): - Provably fair - All source code for Bookie will be available on Github. No secrets.
- Real-time transparency - All Bookie bets published on a public ledger in real-time. No more doubts or arguments about what bet was or was not made, what the stakes were, for how much, etc.
- Decentralization - assuming posters here see the benefits of a decentralized currency ... we think there are similar upsides to bringing decentralization to sports betting. And a betting exchange (P2P) is a great fit for decentralization, as opposed to a sportsbook/house model which is de facto centralized.
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced. Hope that answers your questions! |
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I'm not really a fan but I think MMA is pretty popular...
Based on the responses, you appear to be correct. Thanks for the answer! |
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World Cup 2018 would be the best event to kick it off with.
We plan to launch before then, but great idea! |
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