Lunarbets.eu - Bitcoin Sports betting TO THE MOON! (Old Thread)

[Lunarbets]

This is the old thread.
Please proceed to our new thread here at Bitcointalk

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https://bitcointalk.org/index.php?topic=1790950.0
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We just launched our new website. Please see for yourself.

 

Hi everyone! We're Lunarbets.eu - a bitcoin sports betting website and we've got one question:

Do you often find yourself arguing with friends or colleagues who are so convinced on who will win a certain game?  Imagine a place to let them put money where their mouths are. That's where we, Lunarbets.eu, come in.

When you sign up, Lunarbets.eu provides YOU with 24/7 customer support - something that most online bookies don't provide.  People want something safe, reliable, trustworthy and in for the long-term. You can ask questions from our friendly staff and they'll be happy to assist you 24/7.

You can be sure that we are one of the few companies who genuinely value our customers. You'll notice how beautiful our website is designed, how intuitive the user-interface is and how easy it is to get around. We believe that the most sincere way for any business to express their self-worth is by building a product you that is highly polished and fine-tuned. People love something that works - and we love people!

And to further improve our customers' experience, we have implemented a fixed odds betting system.

Let's do this. Create an account on Lunarbets.eu, then use your referral link to invite your friends or that pesky co-worker of yours who just won't shut up about who's going to win in that game. When your referral signs up and bets, you'll get an additional 0.4% of his bets to you as commission regardless if your friend wins or loses. Does that sound good? Then let's create an account on https://www.lunarbets.eu

TO THE MOON!!!

https://www.lunarbets.eu

[stiffbud]

Hi! I just visited your site and it's good that it is mobile compatible as I am mostly using a mobile browser most of the time.
Are you planning to make a promotion for your site to be known?
It's a good thing to see another sportsbook but what else can you offer best other than what the other sportsbook are already offering?

[pushyourluck]

Cool! been looking for this thread! Earning a lot of coins! Go Golden State Warriors!

[nickaizoku]

beautiful website indeed, the design are great.. well i like this sportsbook.
BUT are the withdraw is instant? most important thing on every casino
well i dont see any live games there. you guys dont provide live betting?

[Lunarbets]

Hi! I just visited your site and it's good that it is mobile compatible as I am mostly using a mobile browser most of the time.
Are you planning to make a promotion for your site to be known?
It's a good thing to see another sportsbook but what else can you offer best other than what the other sportsbook are already offering?

Hi stiffbud. That's a great question. At the moment, the main thing that sets us apart from other sportsbooks is our UX and UI design. We have an agile team of some of the best designers and engineers who are constantly working together on improving Lunarbets.eu. We have a couple of ideas that we're planning to roll out in the immediate future like a VIP lounge, opt-in gamifications, et. al. Our vision is to establish a community within Lunarbets.eu, but we want to implement them while still prioritizing anonymity for all our customers. That's the type of value we want to offer to people who support bitcoin as well as people who like sports!

[nightways]

I really liked the design I played in plenty of other bitcoin sportbooks and this is one of the best designed. please consider adding live sports later on.

[setupbounds]

I like your site mobile friendly too.

[Lunarbets]

beautiful website indeed, the design are great.. well i like this sportsbook.
BUT are the withdraw is instant? most important thing on every casino
well i dont see any live games there. you guys dont provide live betting?

To be transparent with you, our withdrawals require approval for security. We have a dedicated team that reviews daily withdrawals and sends them out as soon as you create an order. However, depending on the network congestion in the blockchain, confirming the transaction might take a while. We deduct 0.0001 BTC from a withdrawal order and use that as miner's fee for the transaction. The latter is something that is out of our control and we don't think it's pleasurable for the customer if we increase the miner's fee.

[thehobBitcoin]

Wow! Seriously??? After months of betting on this site I'm glad that the page is getting larger! more power Lunar team! been waiting for the upcoming events!!!!!!!!!! UFC!!!!!! coins coins coins BTCBTCBTC. I would like to suggest a chatting thread for every main event it will be so exciting )

[pushyourluck]

Awesome rating!   Seems this page will be an enormous community for all sports betting lovers!

http://www.bitedge.co/bitcoin-sportsbook-reviews/lunarbets-review/

[coaex]

What happens to my bet in an event of a draw?
If a game results in a draw, bets will be refunded unless a price on the draw is offered.

will wait for 3rd option - draw..

[fidi911]

Heard of lunarbets.eu at localbitcoins.  Placed bets multiple times and the heck with it, I got hooked!  Site continues to improve and live support is impressive.  Send my regards to your Chat Support Lotti- she's awesome!  lol!

[sbrzol]

Parimutuel betting ? 

A lot of your customers will be surprised when they realize these:

"The disadvantages of parimutuel betting for the bettor are that you do not get fixed odds at the time you place a bet; this is because further bets made after your bet will change the balance of the pool which changes your payout if you win."

"Be aware that the final odds you get paid out on may not be the same as those displayed at the time you bet because in parimutuel betting the winners are paid out with the losers money proportionate to their bets and the size of the pool. The final pool and all the bets can not be known until betting is closed so at that time Lunarbets displays the final odds. "

[sbrzol]

Parimutuel vs Fixed Odds

I think the best way to explain the parimutuel betting system is to compare it to fixed odds betting system that most people are familiar with.

With fixed odds betting the oddsmaker sets the odds for a particular outcome and if this outcome occurs you are paid out based on the odds you bet at, regardless of what every other individual betting on the event wagered on.  With fixed odds betting you are wagering against the sportsbook at the odds given.

In contrast parimutuel betting basically involves betting against other gamblers who are betting on the same event.  It’s easiest to think of parimutuel betting as betting into a pool where the payout is determined by the total number of other bets on that same outcome.  So if you bet on a horse named ‘Joe’ to win and half the money in the betting pool was bet on ‘Joe’ then your payout would be 2/1.  The potential payout for each outcome changes as more bets are placed, so the odds that you see when you place your bet, may not be the same odds that you are paid out at if more bets are placed after your wager.

[sbrzol]

Example:

Philadelphia - Golden State  (Match Winner)    

Pool:   1 BTC  on 1st team   +   1 BTC  on 2nd team

Calculated fixed odds:   1.95 - 1.95

1.95 is good for Golden State
but  1.95 for Philadelpia


Is my calculation correct?

and you never know what will be the odds because the pool can get a big stake at any time (1 sec before the market closed)

[Lunarbets]

Example:

Philadelphia - Golden State  (Match Winner)    

Pool:   1 BTC  on 1st team   +   1 BTC  on 2nd team

Calculated fixed odds:   1.95 - 1.95

1.95 is good for Golden State
but  1.95 for Philadelpia


Is my calculation correct?

and you never know what will be the odds because the pool can get a big stake at any time (1 sec before the market closed)

Assuming that both sides have 1 BTC in them, the multipliers (not odds) would be 1.95 - 1.95.

What that means is that if you bet 1 BTC on one side and win, you get 1 BTC (your initial bet) plus 1 BTC (your share of the losing pool) minus the 2.5% house fee making it a net payout of 1.95 BTC. We agree that the explanation could be simplified. We appreciate your feedback

[LFC_Bitcoin]

Love the look of your site guys, visually it's superb. I haven't had chance to bet with you yet, I'm a bit of a creature of habit with my sports betting site choices. I will keep my eye on this site though. Hope to see you guys do well.

[sbrzol]

Example:

Philadelphia - Golden State  (Match Winner)    

Pool:   1 BTC  on 1st team   +   1 BTC  on 2nd team

Calculated fixed odds:   1.95 - 1.95

1.95 is good for Golden State
but  1.95 for Philadelpia


Is my calculation correct?

and you never know what will be the odds because the pool can get a big stake at any time (1 sec before the market closed)

Assuming that both sides have 1 BTC in them, the multipliers (not odds) would be 1.95 - 1.95.

What that means is that if you bet 1 BTC on one side and win, you get 1 BTC (your initial bet) plus 1 BTC (your share of the losing pool) minus the 2.5% house fee making it a net payout of 1.95 BTC. We agree that the explanation could be simplified. We appreciate your feedback

So if you do not explain your site to your customers (better) then i,  or anybody who knows what Parimutuel betting is,  can mislead/manipulate all newcomers/noobs (who thinks this is a fixed odds site) with "invalid" odds ( put stakes into the pool that will generate such odds that will attract the newcomers, but they do not know that those odds will change by the manipulator before the match begins)

[kingaltcoins]

The site is a good one. Nice GUI right there.

I have one request for you. Can you allow us to place bets without signing up?
This will help to achieve the true purpose of using bitcoin: "Anonymity"

Also try to introduce E-sport games like CS:GO which will earn more visibility.

[Lunarbets]

Love the look of your site guys, visually it's superb. I haven't had chance to bet with you yet, I'm a bit of a creature of habit with my sports betting site choices. I will keep my eye on this site though. Hope to see you guys do well.

Thank you!

Example:

Philadelphia - Golden State  (Match Winner)   

Pool:   1 BTC  on 1st team   +   1 BTC  on 2nd team

Calculated fixed odds:   1.95 - 1.95

1.95 is good for Golden State
but  1.95 for Philadelpia


Is my calculation correct?

and you never know what will be the odds because the pool can get a big stake at any time (1 sec before the market closed)

Assuming that both sides have 1 BTC in them, the multipliers (not odds) would be 1.95 - 1.95.

What that means is that if you bet 1 BTC on one side and win, you get 1 BTC (your initial bet) plus 1 BTC (your share of the losing pool) minus the 2.5% house fee making it a net payout of 1.95 BTC. We agree that the explanation could be simplified. We appreciate your feedback

So if you do not explain your site to your customers (better) then i,  or anybody who knows what Parimutuel betting is,  can mislead/manipulate all newcomers/noobs (who thinks this is a fixed odds site) with "invalid" odds ( put stakes into the pool that will generate such odds that will attract the newcomers, but they do not know that those odds will change by the manipulator before the match begins)

All valid points. I agree there needs to be a more obvious way of knowing what parimutuel betting is. Perhaps adding a beginner's guide button somewhere in the site to briefly explain how the site works.

The site is a good one. Nice GUI right there.

I have one request for you. Can you allow us to place bets without signing up?
This will help to achieve the true purpose of using bitcoin: "Anonymity"

Also try to introduce E-sport games like CS:GO which will earn more visibility.

Thanks for your compliment and suggestions Initially our team designed the prototype last year to cater for anonymous bets but eventually changed it to an account system. The reason being is that since we're dealing with people's money, it's important for us to have a way to reach our customers and the common way to do that is by email

I forgot to mention in my introductory post but by having an account with us, you can enable 2FA with Google Authenticator to protect your account.

But don't worry, though. I think there might be certain UX implementations that our team can come up within the next couple of weeks. It just needs to be done according to the principles we hold. The implementation should be easy-to-use, sustainable, and most importantly secure.