Bookie - Sports Betting Exchange on the Blockchain Wants Your Input

[bookieapps]

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.

[bookieapps]

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.

Thanks for the response - like I said, I'm not aware of any smart contract model used yet for sportsbooks, but as you explain, that very basic application is already extremely useful in sports bet settlements. I have only been betting in sports for a few years but have seen several contentious decisions taken by bookies even with comprehensive rules on settlement.

But with newer sports like MMA especially or even e-sports, I doubt bookies have really refined the rules, or there are too obscure for players to understand. Publishing the algorithms for every market - and every bet even, would go a long way to mitigate this. Don't take too long to update us about this - we gamblers tend to move on quickly

Thanks again for your thoughts. Stay tuned to Bookie news, your feedback is valued!

[bookieapps]

Hi everyone,

We wanted to share our recent article about Data Proxies, the decentralized method by which Bookie gets its sports data for any given event.

You can read the full piece on Steemit.

[DMo09]

Will Bookie ever have the ability to crowd-fund matches/games?  For example, in the MMA sub-culture, there are many groups of different disciplines interested in who would win a match between two non-professionals, but there is no easy way to crowdfund these fights (and bet on them).  There is no incentive for fighters to risk injury on an exhibition match, but they would if money was on the line.

Crowdfunding could bring together many other different matches or games (sport & non-sport) that would otherwise not happen. 

*Even better if there were tools for promoters to use so they could get a cut for raising the money.

Seems like a natural fit for Bookie to pioneer the first crowd-funded & betting capabilities...

[Pab]

I bet on uk ire horse racing.Last Cheltenham festival geerated not mln but blns in bets
There is not any cryptocurrency bookie what is offering horse racing betting
Races are every day all year on all continents,and people are puting really high money
Bigest bookies frauds are ongoing on horse racing together with suspending accounts in a case of bettors win

[LuanX3]

Hi everyone,

We wanted to share our recent article about Data Proxies, the decentralized method by which Bookie gets its sports data for any given event.

You can read the full piece on Steemit.

Really exciting to see this! If everything checks out good here on this project then there won't be any instance that the bookie just arbitrarily cancels the bet slip for "reasons" they just make up. Most of the time they cancel it because their system made a mistake and placed pretty good odds on the bet and they have to save themselves by screwing the players. Let's see if decentralized will cure this problem.

[bookieapps]

Hello!

The latest installment of Bookie's behind-the-scenes series on the tech being used to build Bookie - "Introduction to the Tech Behind Bookie." This one talks about the Bookie Oracle System, aka BOS.

https://steemit.com/sports/@bookieapp/introduction-to-the-tech-behind-bookie-bos

[LuanX3]

Ok just by reading the articles, I have a question now. How do you guys propose that the system will automatically grade the events. What I means is that how do you, without human intervention, make the system create it's own odds? For example, a game of NBA with GSW vs BOS, how will the system say that GSW - 13 vs BOS +13, something like that.

[bookieapps]

Kick off for Bookie Public Beta ahead of World Cup: https://www.peerplays.com/kick-off-bookie-public-beta-ahead-world-cup/

[bookieapps]

Hi Pab,

We hear what you’re saying about challenges and issues in betting on horse racing. However, we are concentrating on building support for sports like American Football, basketball, soccer, etc. The main reason is that we expect the majority of Bookie's early adopters to be more interested in these sports. But in addition to this, the proper implementation of horse racing on Bookie is technically more complex.

So, horse racing isn’t a focus for Bookie in the short-term. Not to say that we won’t include it at a later date.

I bet on uk ire horse racing.Last Cheltenham festival geerated not mln but blns in bets
There is not any cryptocurrency bookie what is offering horse racing betting
Races are every day all year on all continents,and people are puting really high money
Bigest bookies frauds are ongoing on horse racing together with suspending accounts in a case of bettors win

[bookieapps]

Hi LuanX3,

That’s exactly it! Continuing from your points, these are some advantages of Bookie (decentralized) over centralized sports betting:

•        provably fair (you don't know what sportsbook is doing on the back-end)
•        transparency of bet placement (no arguments after the fact)
•        no slow payment
•        no possibility of funds being stolen by an unethical sportsbook
•        multiple accounts


As you can see, there were many reasons to make Bookie a decentralized betting exchange. Happy to see you're as excited as we are!

Hi everyone,

We wanted to share our recent article about Data Proxies, the decentralized method by which Bookie gets its sports data for any given event.

You can read the full piece on Steemit.

Really exciting to see this! If everything checks out good here on this project then there won't be any instance that the bookie just arbitrarily cancels the bet slip for "reasons" they just make up. Most of the time they cancel it because their system made a mistake and placed pretty good odds on the bet and they have to save themselves by screwing the players. Let's see if decentralized will cure this problem.

[bookieapps]

Hi DMo09,

Interesting idea. The focus with Bookie has always been to offer a decentralized alternative to the established sports betting market, which turns over many billions of dollars a year, as we are all aware. Although blockhain (and even Bookie, who knows!) might be able to help in the way you describe, it isn't something that we at PBSA will be looking at in the foreseeable future.

But that's some creative thinking you've got going there... hmmm.... Maybe a company with connections in this space could build an MMA-crowd-promotion app on top of the Peerplays blockchain? Then Bookie could easily provide betting on those events. Keep the ideas coming 

Will Bookie ever have the ability to crowd-fund matches/games?  For example, in the MMA sub-culture, there are many groups of different disciplines interested in who would win a match between two non-professionals, but there is no easy way to crowdfund these fights (and bet on them).  There is no incentive for fighters to risk injury on an exhibition match, but they would if money was on the line.

Crowdfunding could bring together many other different matches or games (sport & non-sport) that would otherwise not happen. 

*Even better if there were tools for promoters to use so they could get a cut for raising the money.

Seems like a natural fit for Bookie to pioneer the first crowd-funded & betting capabilities...

[bookieapps]

Good question. (What you call 'odds', are typically called 'lines' or 'handicaps', we think?). We answered this question in our recent AMA:

https://www.reddit.com/r/OfficialBookie/comments/86mm3t/bookie_ama_with_pbsas_head_of_operations_ask_me/dwd0svi/

Basically, Bookie takes an automated poll of the industry lines and provides an average of those. The 'odds' are not set by Bookie. Bookie is a betting exchange, not a sportsbook, so odds are set by Bookie users. To find out more about he difference between a betting exchange and a sports book, take a look at this article:https://steemit.com/peerplays/@bookieapp/betting-with-bookie-sportsbook-vs-betting-exchange

Ok just by reading the articles, I have a question now. How do you guys propose that the system will automatically grade the events. What I means is that how do you, without human intervention, make the system create it's own odds? For example, a game of NBA with GSW vs BOS, how will the system say that GSW - 13 vs BOS +13, something like that.

[Pab]

Hi Pab,

We hear what you’re saying about challenges and issues in betting on horse racing. However, we are concentrating on building support for sports like American Football, basketball, soccer, etc. The main reason is that we expect the majority of Bookie's early adopters to be more interested in these sports. But in addition to this, the proper implementation of horse racing on Bookie is technically more complex.

So, horse racing isn’t a focus for Bookie in the short-term. Not to say that we won’t include it at a later date.

I bet on uk ire horse racing.Last Cheltenham festival geerated not mln but blns in bets
There is not any cryptocurrency bookie what is offering horse racing betting
Races are every day all year on all continents,and people are puting really high money
Bigest bookies frauds are ongoing on horse racing together with suspending accounts in a case of bettors win

If you will be popular and competitive to fiat money  biggest bookies than you will have planty of  horse racing bettors
Punters are really tired of that what bookies are performing to them
But sure new develepmont need to be live tested on most popular sports
Hope you will be ready for Mundial

[Hhampuz]

Just have a big number of games up for upper and be lightning fast with grading the bets.. If you are able to do that, you'll rise through the ranks quickly!

[bookieapps]

Hi Pab,

Bookie Public Beta will be ready for World Cup 2018, obviously one of the most popular betting events in the world. You'll be able to play for free and win real bitcoin prizes. Hopefully we'll see you there!

Would love to hear more of your thoughts and ideas in the new Bookie Public Beta thread.

Thanks!

Hi Pab,

We hear what you’re saying about challenges and issues in betting on horse racing. However, we are concentrating on building support for sports like American Football, basketball, soccer, etc. The main reason is that we expect the majority of Bookie's early adopters to be more interested in these sports. But in addition to this, the proper implementation of horse racing on Bookie is technically more complex.

So, horse racing isn’t a focus for Bookie in the short-term. Not to say that we won’t include it at a later date.

I bet on uk ire horse racing.Last Cheltenham festival geerated not mln but blns in bets
There is not any cryptocurrency bookie what is offering horse racing betting
Races are every day all year on all continents,and people are puting really high money
Bigest bookies frauds are ongoing on horse racing together with suspending accounts in a case of bettors win

If you will be popular and competitive to fiat money  biggest bookies than you will have planty of  horse racing bettors
Punters are really tired of that what bookies are performing to them
But sure new develepmont need to be live tested on most popular sports
Hope you will be ready for Mundial

[bookieapps]

Hello!

The newest article in the "Betting with Bookie" educational series is up!

It's called Introduction to Odds and helps you navigate some of the odds formats you encounter online.

Read the whole article on Steemit.

[bookieapps]

Just have a big number of games up for upper and be lightning fast with grading the bets.. If you are able to do that, you'll rise through the ranks quickly!

Hi Hhampuz,

Thanks for the encouragement! Not long ago we asked BitcoinTalk (actually, it was this thread!) which sports they'd like to see when Bookie launches. With the likely candidates being soccer, basketball, American football, etc, there should be no shortage of games to bet on.

As for the speed part of your question: You may have seen this already, but all sports data will be pulled from multiple Data Proxies, and then merged & verified through BOS (Bookie Oracle Software). I've linked each of these steps to corresponding articles, if you're interested in reading more.

Because the whole proces is automated on the blockchain, settling of bets should happen within minutes of the actual end of an event. The Peerplays blockchain - which will host Bookie - was built specifically for highspeed gaming and betting. As you say - lightning fast!

Hope you'll be joining when Bookie Public Beta launches for the World Cup? (Reminder: play for free, win real BTC prizes!)

[alexvilis]

Betting with Bookie: Stake and Liability
https://steemit.com/bookieapp/@bookieapp/betting-with-bookie-stake-and-liability

Betting with Bookie is an ongoing educational series designed to demystify the betting experience. Each article will tackle sports betting terminology and concepts in a simple way, in an effort to make you a better bettor.

[bookieapps]

Betting with Bookie: Stake and Liability
https://steemit.com/bookieapp/@bookieapp/betting-with-bookie-stake-and-liability

Betting with Bookie is an ongoing educational series designed to demystify the betting experience. Each article will tackle sports betting terminology and concepts in a simple way, in an effort to make you a better bettor.

Hi alexvilis, thanks for sharing the article! Glad to see you find value in them.

Will you be joining us for Bookie Public Beta?