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Author Topic: [WTS] Bitcoin Betting Exchange/Prediction Market - Site to earn Bitcoins!  (Read 5163 times)
bitfair (OP)
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April 29, 2013, 08:20:09 PM
Last edit: April 29, 2013, 10:38:26 PM by bitfair
 #1

I would like to offer a complete and fully functional Bitcoin Betting Exchange/Prediction Market for sale.

Intrade is gone, Bitcoin rules, but parimutuel sucks
Since InTrade has disappeared, I think Bitcoin has a huge opportunity to show the way in peer-to-peer betting. The problem is that the current model dominating on bitcoin sites (parimutuel betting) is unfit for serious betting. What is needed is a proper Betting Exchange!

A betting exchange is a peer-to-peer platform for betting: instead of betting against the house, the users bet amongst each other. A betting exchange is much more flexible than existing bitcoin betting sites in that it allows multiple outcomes and also allows the users to bet at the odds they like.

The site operator earns money on charging a small commission on winnings, rather than being a counterparty to the bets like a traditional bookmaker.

It is a well-established and popular form of betting: check out http://www.betfair.com/ and http://www.betdaq.com/ for successful non-bitcoin examples.

The bets that can be made on the site can be anything from sports to politics to financial bets - it all works the same.

Advantages of Betting Exchanges
  • Peer-to-peer betting gives great odds and no "house edge"
  • Users set their own odds
  • Allows betting for or against each outcome
  • Enables users to trade and arbitrage
  • Bets are between users, site operator has no risk

The Advantages of Using Bitcoin for a Betting Exchange
  • Simple: no signup, registration or login needed to bet means low barriers
  • Security: no personal information, credit card numbers or bank details are needed
  • Accessible: open to a worldwide audience
  • Users can be as anonymous as they like
  • No frozen assets
  • Instant payouts
  • Low fees
  • All customer funds sent directly to an offline wallet

Great idea, but why sell if it's already finished???
I believe the site could be a great success if run by the right person (I would in fact be a big customers myself). It would enter the void left by the Intrade shutdown, and help show the world the power of Bitcoin. I expect it would also generate a handsome profit through commissions taken off the winnings. It has been developed after the model of Betfair and Betdaq (links above) - which are reputable and highly successful (non-Bitcoin) betting platforms. The exchange I have developed essentially clones their functionality, but brings in the power of Bitcoin.

I have developed the site/software myself over the course of one year, with the intention of running it myself. However, am am now looking to sell because I realize I simply do not have the time to operate such a site.

I prefer to sell to a trusted community member who understands the concept well and has (access to) the necessary technical expertise to run the betting exchange.

Technical Info
Built on Lighttpd + web.py + Twitter Bootstrap + mySQL. Users funds stored entirely in cold wallet. Fully functional, very polished and well-tested. Some rebranding probably necessary, but essentially ready to launch.

DEMO
Yes. Demo is available, please PM me!

Price
Negotiable. Escrow encouraged.

Please feel free to ask any questions, either in this thread or by PM.

Edit: Forgot to say that it also allows user-created events, and will share the commission between the event creator and the site owner.
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puax
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April 29, 2013, 09:22:56 PM
 #2

Very interesting. I don't have the time myself to operate such a website, but would make consistent, automated markets on it.
bitfair (OP)
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April 29, 2013, 09:27:25 PM
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Very interesting. I don't have the time myself to operate such a website, but would make consistent, automated markets on it.

That reminds me: an API has been designed for it too, but has not yet been implemented.

An API would allow automated trading (arbitrage with other betting exchanges, for instance), which could build a lot of liquidity quite quickly.
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April 29, 2013, 10:59:33 PM
 #4

Sounds great. I too don't have the time (or know-how or ...) to run it. But maybe some of the VC money they say is going around would make it worth your while to manage?
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April 30, 2013, 01:56:41 PM
 #5

https://twitter.com/maxkeiser/status/329232305891725313
TsuyokuNaritai
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April 30, 2013, 01:57:45 PM
 #6

Max Keiser is interested and would like you to contact him.

https://twitter.com/maxkeiser/status/329232305891725313

Chet
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April 30, 2013, 01:59:29 PM
 #7

doesn't sound much different than bitbet really.
bitfair (OP)
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April 30, 2013, 05:14:36 PM
 #8

doesn't sound much different than bitbet really.

On the contrary, it is very different. This gives you FIXED odds, not parimutuel betting. The difference is huge for serious bettors.
bitfair (OP)
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April 30, 2013, 05:47:35 PM
 #9

Max Keiser is interested and would like you to contact him.

https://twitter.com/maxkeiser/status/329232305891725313

Interesting and pleasantly unexpected.
bitfair (OP)
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April 30, 2013, 09:55:36 PM
 #10

Max Keiser is interested and would like you to contact him.

https://twitter.com/maxkeiser/status/329232305891725313

Strange that one of the most prominent personalities in Bitcoin is not even out of the n00b section Shocked
mantler
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April 30, 2013, 10:13:24 PM
 #11

Interested to know what Max Keiser wanted to talk about.
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May 07, 2013, 02:11:07 AM
 #12

Why sell it just once?   Huh Why not make a package out of it and sell it dozens of times?  This would mean a lower price each but longer term more money for you and perhaps even an ongoing revenue stream for updates.  Perhaps another developer/coder could step in and facilitate or takeover?  Grin

Best of luck.
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February 23, 2014, 05:14:42 PM
 #13

Hi,

Are you still selling a sportsbetting exchange?  If so could I see demo and price?

PM is fine.

Thanks.
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May 24, 2014, 10:58:19 PM
 #14

PM please  Wink
nosdi26
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June 11, 2014, 12:45:23 AM
 #15

please Pm for info and price
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June 13, 2014, 04:44:50 PM
 #16

Would love to have PM for info and a demo as well. Thanks in advance.
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