[ANN] Bookie - The world’s first decentralized betting exchange.

[bookieapps]

 

https://www.peerplays.com/wp-content/uploads/2018/02/Bookie-HorzLogo-Black-RGB-400px-e1517881378236.png

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 Association
www.pbsa.info
www.peerplays.com

-------------------------------------------------------

UPDATES:
January 19, 2018 - Bookie Newsletter
February 1-13, 2018 - PBSA oversees Bookie Beta Phase 1
February 23, 2018 - Bookie Newsletter
February 25, 2018 - PBSA releases Bookie Beta Phase 1: Recap, posted to Steemit

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[Lionidas]

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.

[bookieapps]

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!

[bookieapps]

“Blockchains and betting exchanges make a very natural pairing as it is possible to use a blockchain to securely process the huge volumes of transactions an exchange requires.”

Read the full article, originally posted on EGR, here: https://www.peerplays.com/reinventing-betting-exchange/

http://egr.global/wp-content/themes/egr/images/logo.png

[bookieapps]

"While exchanges have never been for the casual punter, a blockchain-based exchange has the potential to reach younger, tech- and value-savvy customers who are turned off by the traditional sportsbook offering."

Read the whole article, originally posted in iGaming Business: Issue #108, here: https://www.peerplays.com/4042-2/

[Patatas]

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”).

How many bookies are even reliable out there ? I don't understand the system and it is not clearly expressed how 'decentralised' the system could be when you're giving the control our certain set of people.IMHO house does a better job at this.Why would an average better like me care who holds my money as long as I'm getting good odds and a trusted environment.

[iluvbitcoins]

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”).

How many bookies are even reliable out there ? I don't understand the system and it is not clearly expressed how 'decentralised' the system could be when you're giving the control our certain set of people.IMHO house does a better job at this.Why would an average better like me care who holds my money as long as I'm getting good odds and a trusted environment.

Because the environment is only trusted until it isn't.
Decentralised system are always good,  whether it's to avoid BBJ Jackpot not being paid out, Mt.Gox, or govermentaly enforced inflation (theft).

Who the hell are you giving control to if it's on the chain o.o

[Hatcher]

The development of decentralized betting exchanges/prediction markets is very exciting to me. Is this sort of like Betfair, where we trade amongst ourselves, and you take a commission from the winners? What are the fees going to look like?

[MineThatCoin]

Is that peer-to-peer betting?

[leea-1334]

Sounds like p2p all right, where there is no house, and players are betting against each other. I agree this is the best model and betfair is the one that successfully introduce it for many years with few issues. I would say this is safer in the sense there is no casino to trust, and if everything only relies on the coding. Of course, the exchange takes their commission/fee, in which case I am going to ask one question here: how much is the fee or commission you take?

If I was going to switch, there is only one reason: better odds,,, it is the only reason I change bookies and casinos. Better odds or lower edges.

[bookieapps]

The pressure has been on at Bookie!

Beta testing, London Affiliate Conference and more!

Read about it in our latest newsletter: https://mailchi.mp/09f6d9597de1/bookie-update-february-23-2018

[bookieapps]

Hi MineThatCoin!

Bookie is a betting exchange with no "house." So yes, bettors are betting against each other, as @leea-1334 pointed out (thanks!).

Sounds like p2p all right, where there is no house, and players are betting against each other. I agree this is the best model and betfair is the one that successfully introduce it for many years with few issues. I would say this is safer in the sense there is no casino to trust, and if everything only relies on the coding. Of course, the exchange takes their commission/fee, in which case I am going to ask one question here: how much is the fee or commission you take?

If I was going to switch, there is only one reason: better odds,,, it is the only reason I change bookies and casinos. Better odds or lower edges.

[bookieapps]

Hi leea-1334, thanks for your msg (and for helping out with an answer!).

You're correct in your assessment of Bookie - no house, bettors bet against each other, etc. We (PBSA) are still finalizing details of Bookie, including commission. We will, however, post that information here (and on Twitter, Steemit, and so on) as soon this has been determined.

As for the odds - on a betting exchange, that's for the users to decide. There's been a lot of market makers expressing interest in Bookie and we expect to see some very competitive prices and percentages. Time will tell! For some more info, please take a look at the Bookie Newsletter that went out today.

Thanks for your interest in Bookie!

Sounds like p2p all right, where there is no house, and players are betting against each other. I agree this is the best model and betfair is the one that successfully introduce it for many years with few issues. I would say this is safer in the sense there is no casino to trust, and if everything only relies on the coding. Of course, the exchange takes their commission/fee, in which case I am going to ask one question here: how much is the fee or commission you take?

If I was going to switch, there is only one reason: better odds,,, it is the only reason I change bookies and casinos. Better odds or lower edges.

[Patatas]

Just wanted to  make something clear (excuse me if it comes off as off-topic)
Is there a way you could support bet matching ? For instance ,I run my own gambling site i.e. I'm  a bookie and I want to match bets so I look for a middle man who places bets for me on another gambling website like betfair.Do you support this model ?
This is how traditionally the system works,does decentralised modal change any of this ?

[bookieapps]

Hi Patatas,

Bookie won't provide what you seem to be describing. Bookie is 'another gambling website like betfair' (except it's an app, not a website).

Thanks for your message and your interest in Bookie!

[Makleyhill]

Bookie Beta Phase 1: Recap

From February 1st to 13th, 2018, the Peerplays Blockchain Standards Association (PBSA) oversaw Beta Phase 1 for Bookie, the sports betting exchange built on the Peerplays blockchain. Contributions came from a diverse group of individuals - professional bettors, software developers, affiliate marketers, cryptocurrency & blockchain enthusiasts, and third-party partners of PBSA.

And what a great group! As expected - even exceeding expectations - the beta testers provided solid and detailed feedback.

“We're really impressed with the quality of the feedback during the beta testing. User testing is such an important element of product development and one which we will be returning to in the coming months as the Bookie app progresses,” said Allyson White, QA Lead at PBSA.

Participants in Bookie Beta Phase 1 were provided with the following guideline document:
https://peerplays.atlassian.net/wiki/spaces/PD/pages/35520732/Extended+Beta+Testing+Information

When testing began, each beta tester was given 1 Bitcoin to bet with and had their choice of American Football (the Super Bowl!), Soccer (EPL), and Basketball (NBA), depending on the day. Over the course of two weeks, testers were encouraged to place as many bets as possible and to experience as much of the app as they could.

Feedback emails started in almost immediately, and right away we knew Beta Phase 1 was going to be a success in terms of information gathered.

Some key issues raised by beta testers from the feedback:

Settled bets did not immediately show up in My Bets (To specifically monitor event settling, Quality Assurance manually triggered the event resolution mechanism. Resolution delays and the symptoms will not be an issue in the future.)
Some markets remained open long after the game had settled (This is a symptom of the issue above)
Small rounding errors with particular combinations of odds and stake
Installation Issues (We are currently in the process of obtaining Windows and Mac Certification)
Transaction fees not showing in betslip
Data presentation improvement in betslip
Stronger error messaging (We are assessing all of our error messaging to make it as detailed as possible)
Update Rules section (Currently we have placeholder information but our team is finalizing this element)
In some instances, the search function within app produced events that already passed
The color scheme of Bookie could use an upgrade (Duly noted!)

We also collected a ton of fantastic feature requests to build out our post MVP roadmap
All in all, this was a successful closed beta, with lots of actionable feedback. We’re still on track to have Bookie ready later this Spring, and can’t wait to share the final product with the world! https://steemit.com/bookieapp/@bookieapp/beta-feedback-recap

[XarXymtroa]

Interesting concept but you will need to be more present in the forum before people start trusting you.
Good luck with this project!

[Tipstar]

Dapps are indeed the future of betting and we'll be seeing lot of competition in this sector.
So you have created your own blockchain and your own token to host your dapp(s) and your token would be the only currency to bet with?

[bookieapps]

Hi Tipstar!

Yes, Bookie runs on the Peerplays blockhain. But Bookie will not have its own token to bet with. Instead Bookie will allow users to deposit, bet and withdraw with BTC only. After launch, the plan is for Bookie to build out support for other digital currencies, but at launch it's a simple BTC play.

Dapps are indeed the future of betting and we'll be seeing lot of competition in this sector.
So you have created your own blockchain and your own token to host your dapp(s) and your token would be the only currency to bet with?

[bookieapps]

The planned Bookie affiliate program is unlike anything else before it.

Interested?

Read more here: https://steemit.com/affiliate/@bookieapp/bookie-affiliate-program-coming-soon

[bookieapps]

Do you find yourself wondering what a Peerplays Witness is?

We have the answer!

Read about it in this article on Steemit: http://ow.ly/vNhj30iGPaX

[semsyor]

Introduction to the Tech Behind Bookie: Data Proxies
https://steemit.com/betting/@bookieapp/introduction-to-the-tech-behind-bookie-data-proxies

Building a fully decentralized sports betting exchange requires the careful engineering of every technical and commercial component so that there is no single point of failure, and no centralized authority. Last month we introduced the decentralized affiliate marketing system that will be built into Bookie. This month we’d like to say a bit about how Bookie gets hold of sports data.

Standard sportsbooks and betting exchanges typically use a single sports data feed provider to provide information about upcoming sports events, manage In-Play betting, and use final results to decide whether bets are winners or losers. If Bookie were to pull sports information from a single data feed, this would be the very definition of centralized, offering not only a single point of failure (bad!) but also the possibility for bad actors to compromise Bookie’s integrity (very bad!).

The solution: Bookie uses decentralized oracles, called “Data Proxies”, operated collectively by Peerplays Witnesses. Each Data Proxy is connected to a particular sports data feed. The Data Proxy normalizes incoming sports data (against a Bookie standard), and then pushes it further to Peerplays Witnesses. Peerplays Witnesses are connected to multiple Data Proxies allowing them to crosscheck all data privately before reaching consensus, as a group, on each new data item to be added to the Bookie system. The entire process is automated.

In a simplified example using the NBA, the Cleveland Cavaliers play the Golden State Warriors at 8:00 p.m. EST. At 10:30 p.m. the game ends and Cleveland wins by seven points. All of this data (and more) feeds into Bookie via the data proxies in real-time, and your bet is settled within minutes of the game ending.

So that’s Data Proxies in a nutshell. We look forward to showing (rather than just telling) how this works in practice when Bookie moves into public beta later this Spring. Is building a decentralized betting exchange easier than building a centralized one? No, not by any stretch of the imagination. But we are convinced that robust decentralization has substantial long-term benefits for sports bettors the world over.

[bookieapps]

Introduction to the Tech Behind Bookie: Data Proxies
https://steemit.com/betting/@bookieapp/introduction-to-the-tech-behind-bookie-data-proxies

Building a fully decentralized sports betting exchange requires the careful engineering of every technical and commercial component so that there is no single point of failure, and no centralized authority. Last month we introduced the decentralized affiliate marketing system that will be built into Bookie. This month we’d like to say a bit about how Bookie gets hold of sports data.

Standard sportsbooks and betting exchanges typically use a single sports data feed provider to provide information about upcoming sports events, manage In-Play betting, and use final results to decide whether bets are winners or losers. If Bookie were to pull sports information from a single data feed, this would be the very definition of centralized, offering not only a single point of failure (bad!) but also the possibility for bad actors to compromise Bookie’s integrity (very bad!).

The solution: Bookie uses decentralized oracles, called “Data Proxies”, operated collectively by Peerplays Witnesses. Each Data Proxy is connected to a particular sports data feed. The Data Proxy normalizes incoming sports data (against a Bookie standard), and then pushes it further to Peerplays Witnesses. Peerplays Witnesses are connected to multiple Data Proxies allowing them to crosscheck all data privately before reaching consensus, as a group, on each new data item to be added to the Bookie system. The entire process is automated.

In a simplified example using the NBA, the Cleveland Cavaliers play the Golden State Warriors at 8:00 p.m. EST. At 10:30 p.m. the game ends and Cleveland wins by seven points. All of this data (and more) feeds into Bookie via the data proxies in real-time, and your bet is settled within minutes of the game ending.

So that’s Data Proxies in a nutshell. We look forward to showing (rather than just telling) how this works in practice when Bookie moves into public beta later this Spring. Is building a decentralized betting exchange easier than building a centralized one? No, not by any stretch of the imagination. But we are convinced that robust decentralization has substantial long-term benefits for sports bettors the world over.

Hey semsyor,

You beat us to the post

Thanks for sharing and saving us the step!

[bookieapps]

Hi everyone,

The first installment of Betting with Bookie, our ongoing educational article series designed to demystify the betting experience, has been posted on Steemit.

Each article will tackle sports betting terminology and concepts in a simple way, in an effort to make you a better bettor.

Read it here: https://steemit.com/peerplays/@bookieapp/betting-with-bookie-sportsbook-vs-betting-exchange

[bookieapps]

Hi everyone,

Bookie is a betting exchange (as opposed to a sportsbook). This means it works slightly differently than what people are "used to" when it comes to betting.

We've posted the second installment of the Betting with Bookie series on Steemit. This article tries to conceptualize one of the main differences between an exchange and a sportsbook - backing and laying a bet.

The full article can be found here: https://steemit.com/peerplays/@bookieapp/betting-with-bookie-back-vs-lay

[bookieapps]

Hello,
 
We hope you enjoyed that last article in the Betting with Bookie series! The latest installment explains the different kinds of betting markets. Understanding how each market works is “a key element to making informed and (hopefully) profitable betting decisions.”

Read the whole article here here.

[bookieapps]

Hi everyone,
 
We are really excited to announce that we’ll be hosting a Bookie AMA on reddit. Our Head of Operations at PBSA, Toby Lynas, will be online to answer any questions you may have on the Bookie app, development, sports betting and anything else related to Bookie that you may want to ask.
 
When: Tuesday, March 27, 10 a.m. AST - 12 p.m. AST
Where: Reddit. Click here to go to the AMA thread.
 
If you can’t make it for the live AMA we encourage you to leave questions in advance; you can come back for the answers at a later time.
 
A few items to keep in mind:
 
This is a Bookie AMA, so please keep the questions related to the Bookie app, development, sports betting, and similar.
We’ll do our best to answer everyone’s questions within the allotted time frame. Your patience is appreciated.
We understand some of you may have questions about Peerplays or PPY tokens, but we want to keep the focus on Bookie. Thanks for your understanding!
 
Toby is looking forward to answering your questions!

[WixlarCoin]

ok

[bookieapps]

Hi WixlarCoin,

To be clear, Bookie is a sports betting exchange, not a coin/token exchange. That said, Bitcoin is the first digital currency that Bookie is being designed to support for sports betting purposes.

If you have more questions, please join us on Reddit for our Ask Me Anything (AMA) session on Tuesday, March 27, 10 a.m. AST - 12 p.m. AST.
 
Thanks!

kindly explain how are you listing new coins/tokens and the guidance of how to do it.
we think you are making an amazing exchange through betting but needs more clarification to be understood

[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

[bookieapps]

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

[bookieapps]

New article in the "Betting with Bookie" educational series is live!

Introduction to Odds helps you navigate some of the odds formats you may encounter online.

You can read the whole article on Steemit.

[semsyor]

Betting with Bookie: Introduction to Odds

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.
If you’ve ever visited an online sportsbook or betting exchange then you know they often list multiple odds formats. In some cases the default format is simply the name of the country in which it originated or is most popular - American, Hong Kong, Malaysian, and Indonesian odds - which all work in different ways.

Other times the format is more straightforward, like Decimal and Fractional odds. No one format is more right or more wrong than the others; it’s often just a matter of preference.

Regardless of format, one thing is always true: the less likely an outcome, the bigger the reward. Because of this, understanding how to read various odds formats, and knowing how to convert between them, is an important element to successful betting.

This article will give you a better understanding of the three most common formats.
https://steemit.com/bookieapp/@bookieapp/betting-with-bookie-introduction-to-odds

[bookieapps]

Betting with Bookie: Introduction to Odds

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.
If you’ve ever visited an online sportsbook or betting exchange then you know they often list multiple odds formats. In some cases the default format is simply the name of the country in which it originated or is most popular - American, Hong Kong, Malaysian, and Indonesian odds - which all work in different ways.

Other times the format is more straightforward, like Decimal and Fractional odds. No one format is more right or more wrong than the others; it’s often just a matter of preference.

Regardless of format, one thing is always true: the less likely an outcome, the bigger the reward. Because of this, understanding how to read various odds formats, and knowing how to convert between them, is an important element to successful betting.

This article will give you a better understanding of the three most common formats.
https://steemit.com/bookieapp/@bookieapp/betting-with-bookie-introduction-to-odds

Hi Semsyor,

Thanks for sharing this excerpt! Much appreciated. Happy to see you've been following our Steemit articles series. Would love to hear more of your thoughts.

Do you plan to take part in Bookie Public Beta, which is launching in time for this year's World Cup?

[ktulhu]

The project looks frankly interesting, in any case, I have not seen anything like this, so I will watch the development with great interest.

[bookieapps]

The project looks frankly interesting, in any case, I have not seen anything like this, so I will watch the development with great interest.

Hi ktulhu,
 
Thanks for the encouragement, and glad to hear you're so interested. Be sure to follow our other channels as well, specifically Twitter and our newsletter, to be sure you don't miss any updates.

Just curious - are you more interested in the sportsbetting aspect of Bookie or the fact that it's on a blockchain? Or both?

[bookieapps]

Hi folks,

PBSA's Toby Lynas took the side of Bitcoin in this month's EGR Big Debate - Will the future of blockchain gambling be bespoke virtual currencies? Read both sides on the argument here.

[bookieapps]

The May Bookie Newsletter is live! This month includes talk about a new name, BOS being released to the Witnesses, and much more!

Check it out here: https://mailchi.mp/7abec0e29d03/bookie-update-may

[bookiepro]

Hi everyone,

New BookiePro Bitcointalk account here! If you start seeing @BookiePro, it's us!

Additionally, we are having issues with the old @bookieapps account, so if you get any curious messages from that account, please let us (@BookiePro) know about it.

Thanks!

p.s.: Don't forget - BookiePro is launching SOON!

- PBSA + BookiePro Team

[bookiepro]

BookiePro to launch world’s first provably fair affiliate program

https://steemit.com/bookieapp/@bookieapp/bookiepro-to-launch-world-s-first-provably-fair-affiliate-program

[Tonisim]

Beat the Bookie with BookiePro - NFL Week 9 Betting Preview
https://www.reddit.com/r/OfficialBookie/comments/9tc8yo/beat_the_bookie_with_bookiepro_nfl_week_9_betting/



Thursday Night Football **Preview (Raiders at 49ers)**This is the one we have been waiting for folks! A battle for the ages. The best vs the best. The battle of the bay. The whimpering Raiders take on the fledgeling 49ers! This matchup personifies Thursday Night Football perfectly - two one win teams face off in a game that no one wants to win. A win for either of these teams serves only to push them down the draft board. Alas, someone must win, so let's find out who.

Despite the chaotic nature of the Raiders season - which includes purging two of their best players and throwing away at least 6 games in the 4th quarter, there have been some upside. The Derek Carr led passing attack has been serviceable, averaging 275 yards a game. While Derek will have one less “weapon” this week, as Amari Cooper will be busy making his Cowboys debut, the 49ers lackluster pass defense should leave lots of room for Carr to work.

The Niners defense is allowing 29.50 points per game and over 350 yards. That’s a lot of ground to cover for QB CJ Beathard - or possibly *checks paper* Nick Mullens? However they will be squaring off with quite possibly the worst defense in the league. The Raiders defensive unit is allowed over 31 points a game and over 400 yards, with 144 of those yards coming on the ground - a number that puts them last in the league. It appears that 49ers standout RB Matt Breida will be good to go tonight, which could spell disaster for the Raiders.Overall it will be a battle of two offenses trying to find their footing facing off against perhaps the two worst defenses in the league. Derek Carr should have a field day, but the 49ers should be able to control the pace of the game with their superior run game. The Raiders defense will be wore down and wore out by the time the 4th quarter comes around, which will allow the 49ers to run away with it.