Feedback on Crypto Sports Project

[Cryptosportstrading]

Im in the planning phase of a sports trading platform that will utilize a Cryptocurrency as the currency of the platform. Imagine being able to profit when your favorite sport teams win. Is this something the community would want to see? Please provide feedback and let me know if there are any questions.

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[stomachgrowls]

I did actually see this idea before where you do gain tokens as your team do win but i dont see this would really gain too much interest and this might be the reason why such idea/project didnt
tend to proceed.People would rather directly bet on bookies with their BTC or top alts than on a new crypto without having a established price nor reputation.

[Cryptosportstrading]

@stomachgrowls this idea would be different than creating a brand-new token. The currency of the platform will be a stable-coin, pegged to the US dollar; such as tether, usdc or gemini dollar. Traders on the platform will know that money is actually being used for intended purposes.

[elda34b]

If I recall correctly, SportsBet is doing what you want to do right now. However, they use BTC as their main currency (AFAIK). I don't see any reason why you use stable con, except maybe to protect your users from inflation. Is this correct?

I don't know how many people use SportsBet, but it looks like they're quite famous. There are several options such as betting on e-sports or sports there. You should take a look at them and see how can you made your own betting platform.

[stomachgrowls]

If I recall correctly, SportsBet is doing what you want to do right now. However, they use BTC as their main currency (AFAIK). I don't see any reason why you use stable con, except maybe to protect your users from inflation. Is this correct?

I don't know how many people use SportsBet, but it looks like they're quite famous. There are several options such as betting on e-sports or sports there. You should take a look at them and see how can you made your own betting platform.

A good suggestion for Op to have the idea on how reputable bookies do the business.I dont see the reason for focusing on stablecoins which its already been offered but people would mostly preferred on playing or betting
by the use of crypto specially with BTC or ETH. If thats the case on aiming for stable coins then theres no difference with the idea and with fiat bookies itself.

[Cryptosportstrading]

 @elda34b
The reason for the stable-coin is to protect the users from inflation and to essentially peg it to a USD. I feel as those traders would be more acceptable to using a coin that essentially has a locked value. I wouldn’t consider this sports betting. I would consider it sports investing. Traders would earn dividends when their teams win and appreciate in value. Traders would have a good opportunity to grow their money instead of losing it all by betting on a team to win one game. This platform will have 24/7 trading and I’m confident it will be one of the top sports trading platforms.

@stomachgrowls
This isn’t sports betting. Why would someone use a crypto-currency that’s not stable when there is a wide chance of fluctuation? Can you name one platform that does sports investing with crypto and not sports betting?

[Cryptosportstrading]

This is targeting crypto fans, sport fans, and traders. This is the perfect storm.

[Novajoensda]

I found the projects that exactly same with your idea, the project name is Bethereum, do you want to chek it? for your refferance maybe
https://bitcointalk.org/index.php?topic=2898723.0
Note: I am not part of bethereum project

[Cryptosportstrading]

I found the projects that exactly same with your idea, the project name is Bethereum, do you want to chek it? for your refferance maybe
https://bitcointalk.org/index.php?topic=2898723.0
Note: I am not part of bethereum project

@Novajoensda Bethereum isn't a sports trading market. This is only allowing you to make bets. I'm talking about investing sports like one would invest in stocks.

[Novajoensda]

I'm sorry, back to the topic.. you have good idea but you'll need partner or some legit funder for make it real, isn't it?

[Cryptosportstrading]

I'm sorry, back to the topic.. you have good idea but you'll need partner or some legit funder for make it real, isn't it?

@Novajoensda a good idea with the right team that can implement it is better than a legit founder. A lot of these founders are only in it for the money. When the popular founders were first started nobody knew of them. This is something that will transform the way people think of sports. I plan on doing this in 3 phases to see if this is what people want; 1) Social Media Marketing by allowing people to visit my site and subscribe if they are interested. 2) Building an MVP with 1 league so people can test and build a userbase. 3) Full platform. I'm currently working on my landing page and with various companies to try and form partnerships. The more people interested, the more this idea will become a reality and present funding.

[Novajoensda]

Did you already have your own site related of your project plan? Please allow me to see it, am getting interesting with this. And if you don't mind I can be your partner for spread about this on my social media channels

[Cryptosportstrading]

Did you already have your own site related of your project plan? Please allow me to see it, am getting interesting with this. And if you don't mind I can be your partner for spread about this on my social media channels

@Novajoensda my landing page is currently being built. I'm trying to currently build a community. Further details will be presented once everything is ready.

[TimtheYoutuber]

Not sure how the ecosystem of this would work, but seems like an interesting idea. Although I dont see it being a profitable one for the site or sustainable.

[Cryptosportstrading]

Not sure how the ecosystem of this would work, but seems like an interesting idea. Although I dont see it being a profitable one for the site or sustainable.

@TimtheYoutuber the ecosystem will be explained more in details as the project progresses. Why don't you see this being profitable for the site or sustainable? This is targeting crypto fans, sport fans, and traders. All 3 categories are very successful. Look at stock. What makes stocks exchanges or betting profitable and sustainable?

[Cryptosportstrading]

Would a Crypto such as BTC, ETH, create my own token, a stablecoin, or fiat be best for this platform? I'm learning towards a stablecoin for multiple reasons.

[Cryptosportstrading]

What sports would everyone like to see?