Kryptium - A truly decentralised, community-powered betting platform

[nauane]

We think you'll find this interesting!
The guys at Bestbitcoincasino.com wrote a review about the Kryptium betting platform.

You can find it here: https://www.bestbitcoincasino.com/review/kryptium/

I have read the review where he tell some nice facts about the site and he gave it the rating of 7.9 which is good indeed. The  bonus and payout withdrawals feedbacks are also good. The only thing which is lacking is the live chat option. I hope it will be added in near future.

[elabor77]

Sorry but it is impossible to use this platform, yesterday for the champion game there were only 2.5 $ for the victory of Aiax. Finally there is a problem with using these smart contracts, if the bet is not matched, the blockchain fee is still paid.

[gchristidis]

Sorry but it is impossible to use this platform, yesterday for the champion game there were only 2.5 $ for the victory of Aiax. Finally there is a problem with using these smart contracts, if the bet is not matched, the blockchain fee is still paid.

Indeed there are many new players who start with small amounts in order to “test the waters”. However, you don’t have to bet only on existing “open” bets. Kryptium is not a sportsbook and there is nothing stopping you from opening a new head-to-head bet for the amount and odds that you want.

As far as the blockchain fee is concerned (i.e. Ethereum’s required “gas” for the betting transactions), we’re actually talking about a few cents. The fee is not paid after we get the result of the bet, but at the time that you place the bet and it’s effectively money that goes to miners. We believe that it is a fair and rather low cost for using the blockchain and its advantages (anonymity, transparency, immediate access to funds etc.). Imagine that if you play with a 0% commission betting house, “gas” will be the only “fee” you would need to pay.

Note that, if somebody considers starting his/her own betting house using Kryptium and is concerned about gas costs, s/he could very well choose a network with near zero fees for gas (e.g. Ellaism)

[ykaralis]

<...> If it is true that it is totally decentralised then who runs the system? <...>

From a server infrastructure point of view, Kryptium uses the Ethereum blockchain network which hosts the smart contracts, i.e. the code that provides events, registers bets and settles them.
So "the system" is actually the blockchain network. Think of Kryptium like the bittorrent protocol for betting - there is no central authority or infrastructure but all clients can communicate with each other to share files (in our case to place bets).
Now coming to the "content", i.e. the data for events and their outcomes, it has to be uploaded to the blockchain by somebody (the owner of what is called the "oracle" smart contract). However, with Kryptium being a decentralised betting platform, anybody can choose to publish and maintain their own events!

[Nadziratel]

Never before, by installing an application on the PC, I had not played. Is this really a safe method? Can downloaders give information to us?

[r1a2y3m4]

Never before, by installing an application on the PC, I had not played. Is this really a safe method? Can downloaders give information to us?

I think it is legitimate since I can see that it is truly Kryptium account. If you will click on their site you can also see "Try it." And the link to the download link is the same as the Try it button on their site.

[d1ceplayer]

Hello World! Meet Kryptium, a truly decentralised platform for peer-to-peer betting, based on Ethereum blockchain technology.
Using Kryptium, anybody can act as a player, house or data service provider!

Downloads: Our betting app is currently available for Windows, macOS and Linux. You can download it from: https://kryptium.io/#try_it

Support: If you need any support or have questions about to how to use the app, you can visit our group on Telegram: https://t.me/kryptium

Smart contracts: Kryptium smart contracts and instructions for deploying your own betting house are available on GitHub: https://github.com/kryptium

News: We will be posting updates about Kryptium here but also on Twitter https://twitter.com/kryptium_io and LinkedIn https://linkedin.com/company/kryptium

[im g]https://kryptium.io/wp-content/uploads/2018/12/feature_image_men.jpg[/img]

That's cool, although I don't really know how peer-to-peer betting works, cause I haven't used any p2p betting platform before, though I do hear about them. So let me guess how it works, you put a bet against someone on the platform and the Kryptium collects a fee for the betting ,and whoever wins ,goes with the money? It's really funny how there are lots of gambling sites these days and they are just encouraging everyone to bet, while they rip us off and make money. Lol. No one should come for me, that's just what I think.

[ykaralis]

Hello World! Meet Kryptium, a truly decentralised platform for peer-to-peer betting, based on Ethereum blockchain technology.
Using Kryptium, anybody can act as a player, house or data service provider!

Downloads: Our betting app is currently available for Windows, macOS and Linux. You can download it from: https://kryptium.io/#try_it

Support: If you need any support or have questions about to how to use the app, you can visit our group on Telegram: https://t.me/kryptium

Smart contracts: Kryptium smart contracts and instructions for deploying your own betting house are available on GitHub: https://github.com/kryptium

News: We will be posting updates about Kryptium here but also on Twitter https://twitter.com/kryptium_io and LinkedIn https://linkedin.com/company/kryptium

[im g]https://kryptium.io/wp-content/uploads/2018/12/feature_image_men.jpg[/img]

That's cool, although I don't really know how peer-to-peer betting works, cause I haven't used any p2p betting platform before, though I do hear about them. So let me guess how it works, you put a bet against someone on the platform and the Kryptium collects a fee for the betting ,and whoever wins ,goes with the money? It's really funny how there are lots of gambling sites these days and they are just encouraging everyone to bet, while they rip us off and make money. Lol. No one should come for me, that's just what I think.

Kryptium is actually a betting platform, not a centralized sportsbook. Using the platform, people can not only bet but also launch their own betting house! In fact, in markets where traditional online sportsbooks and betting exchanges “rip you off” with high house edges and commissions, Kryptium enables the deployment of betting houses with commission as low as 0%! This is possible because you don’t have to pay for any servers or other infrastructure since all bets and settlements are happening on the blockchain. Also, Kryptium supports P2P betting, so you don’t need to spend money on finding the right odds to offer either – players decide the odds they want on their own. The only cost for maintaining a Kryptium betting house is just the blockchain network fees for publishing and updating event data on the blockchain (a few cents per transaction).

[ykaralis]

To all Kryptium friends:

Today we published a couple of events on the Ethereum network under the category "Miscellaneous" which was not properly supported before v.1.2.1 of the Kryptium betting app.
Users of such older versions might face UI bugs or even problems with opening the app.
Please make sure that you upgrade your Kryptium apps to v.1.2.2 to avoid such issues.

[MyRealName]

The only cost for maintaining a Kryptium betting house is just the blockchain network fees for publishing and updating event data on the blockchain (a few cents per transaction).

To make this project successful you should somehow make an off chain solution to public odds and events. Also should be an off chain platform to make previous agreement. And only then if both side got a consensus do the on chain contract. Because to run a sportsbook "house" you should constantly track markets and adjust lines "odds". Without that any smart player will rip off any house. If every odds adjustment will cost you on chain fees you can't effectively run the house (the biggest  market and lower fees the more frequent line adjustments happen "up to 70 changes per minute at close lines"). It will just cost you a lot to run a house.  It's a good idea but it need a lot of improvements to be useful.

[ykaralis]

The only cost for maintaining a Kryptium betting house is just the blockchain network fees for publishing and updating event data on the blockchain (a few cents per transaction).

To make this project successful you should somehow make an off chain solution to public odds and events. Also should be an off chain platform to make previous agreement. And only then if both side got a consensus do the on chain contract. Because to run a sportsbook "house" you should constantly track markets and adjust lines "odds". Without that any smart player will rip off any house. If every odds adjustment will cost you on chain fees you can't effectively run the house (the biggest  market and lower fees the more frequent line adjustments happen "up to 70 changes per minute at close lines"). It will just cost you a lot to run a house.  It's a good idea but it need a lot of improvements to be useful.

It seems you are missing an important point here. Kryptium betting houses do not require from their owners to be market makers. A Kryptium betting house is just a smart contract that registers and settles bets using event data from a specific oracle smart contract. The platform supports peer-to-peer betting, so it’s actually the users that decide the odds, not the house. Kryptium betting houses can make money (if they wish so) by applying a commission on winnings. In fact, that’s one of the big advantages of Kryptium betting houses: their owners don’t have to worry about odds.

[rijaljun]

-snip-

It seems you are missing an important point here. Kryptium betting houses do not require from their owners to be market makers. A Kryptium betting house is just a smart contract that registers and settles bets using event data from a specific oracle smart contract. The platform supports peer-to-peer betting, so it’s actually the users that decide the odds, not the house. Kryptium betting houses can make money (if they wish so) by applying a commission on winnings. In fact, that’s one of the big advantages of Kryptium betting houses: their owners don’t have to worry about odds.

Honestly, I can't clearly understand how it will work so I'm trying to read few explanations by people here and this is the most interesting part in my opinion, it gives more advantage for users than the house. But then how the team would get their commission?

[gchristidis]

-snip-

It seems you are missing an important point here. Kryptium betting houses do not require from their owners to be market makers. A Kryptium betting house is just a smart contract that registers and settles bets using event data from a specific oracle smart contract. The platform supports peer-to-peer betting, so it’s actually the users that decide the odds, not the house. Kryptium betting houses can make money (if they wish so) by applying a commission on winnings. In fact, that’s one of the big advantages of Kryptium betting houses: their owners don’t have to worry about odds.

Honestly, I can't clearly understand how it will work so I'm trying to read few explanations by people here and this is the most interesting part in my opinion, it gives more advantage for users than the house. But then how the team would get their commission?

It works similar to betting exchanges. In a betting exchange, you can place a bet and choose both the amount and the odds you want. Then it’s up to other players to match your bet – that is, IF they agree with the odds you offered. The betting exchange takes a commission from the winnings.

Kryptium Team does not currently take any commission from other people’s Kryptium betting houses. However in version 2.0 we are planning to introduce a license fee which will be related to the profits of the betting house (the exact business model is still “under construction”). Kryptium Team will not be charging any license fee to betting houses with 0% commission.

If all this continues to sound strange, we suggest that you just download the app on your computer and give it a try. If you don’t want to spend any ETH, you can switch τo the Ropsten test network and use “test” Ether to check out how it works.

[Ray55]

I did not know about that day and Kryptium. After looking at this post, I did a little search and I liked it, so now I started downloading Kryptium app on my laptop. Like me and any kind of betting I like it very much.

[nauane]

I did not know about that day and Kryptium. After looking at this post, I did a little search and I liked it, so now I started downloading Kryptium app on my laptop. Like me and any kind of betting I like it very much.

I have not heard any negative feedback about Kryptium so i guess it is a good and safe choice to play there.  The best thing which i liked most is their bonus and promotions

[LUCKMCFLY]

Hi, I tried to download the application but it says it is not compatible with my software version, could you tell me if they have any compatibility package or if a specific version is needed so that it can run? And if you have to see the brand of the device, since many times that influences. I have no problems with the download only to the last step and I do not know how to do it. I sent an email to support but I have not received a response yet. I would appreciate your quick response.

[niisarearning]

IS there support of Cricket world cup betting feature in thsi . I am looking for some genuine Peer to peer betting platform for ICC cricket world Cup.

[ykaralis]

Hi, I tried to download the application but it says it is not compatible with my software version, could you tell me if they have any compatibility package or if a specific version is needed so that it can run? And if you have to see the brand of the device, since many times that influences. I have no problems with the download only to the last step and I do not know how to do it. I sent an email to support but I have not received a response yet. I would appreciate your quick response.

The Kryptium betting app is currently available for Windows, macOS and Linux computers (desktops/laptops).
You mentioned the word "device" which is usually used for "mobile" devices - if so, then there is currently no version of Kryptium for mobile devices. A mobile version has been planned for H1 2020.

[okala]

To all Kryptium friends:

Today we published a couple of events on the Ethereum network under the category "Miscellaneous" which was not properly supported before v.1.2.1 of the Kryptium betting app.
Users of such older versions might face UI bugs or even problems with opening the app.
Please make sure that you upgrade your Kryptium apps to v.1.2.2 to avoid such issues.

I try installing the app on my mobile devices but it said not supported it sins you don't have mobile version of the app I will really be looking out for the mobile devices app because games are more enjoyable playing on mobile devices since we can play on the go.

[ykaralis]

IS there support of Cricket world cup betting feature in thsi . I am looking for some genuine Peer to peer betting platform for ICC cricket world Cup.

I do hope they offer this feature.
I am also looking forward for such peer to peer system where we can bet directly with another player on any match .

Although currently available Kryptium betting houses do not provide events for the ICC cricket world cup, anybody is free to launch their own betting house and support cricket or any other type of sport/competition that they feel is under-represented on betting exchanges. What's more, the upcoming version of Kryptium (version 2.0) will allow the deployment of your own betting house from within the app, without any required technical knowledge.