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Author Topic: Exbet is LIVE >> The Bitcoin Betting Exchange [exbet.io]  (Read 12080 times)
exbet.io
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April 09, 2020, 10:30:55 PM
 #181

I know that you are not fully open yet and considering you will be widely available only when the sports leagues will come back, I can understand why you wouldn't feel the rush to add in esports because that makes sense and lines up perfectly. However, right now the whole world basically stopped and saw the greatness of esports because it can be played at home and can be played whenever people want, even during a pandemic, do you really think that it will go away after the corona ends?

People will suddenly stop gambling there? They got a taste for it already during this period and I am pretty sure they will want more of it in the future when this pandemic is over (or at least not as deadly anymore). Do what you want of course, it is your own website, but I would suggest adding esports further.

Hey beerlover, fair points you make. But to repeat, esports has a huge future in betting but the profile of esports bettors is different from traditional sports bettors. There is crossover for sure, but esports betting is a different demographic, and we intend to focus on the core sports betting users before making a push into esports. Even though the Covid-19 pandemic created excellent conditions for esports to grow, we are not hearing across the industry that growth in revenues is that substantial, even if esports now makes up a much larger proportion of sportsbook offering. Definitely an interesting space though.

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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April 09, 2020, 10:43:33 PM
 #182

Exbet will fail. PERIOD.

Betbtc was a BTC bet exchange for 4,5 YEARS!.. They had everything, Betfair interface, good odds and API.. it had shit liquidity and in the end became (had to become) a sportsbook..

Fairlay the biggest BTC exchange has shit liquidity too. You may say because of its interface but why did Betbtc fail then? Exbet got excited for nothing..

BTC BET EXCHANGE business has no market except for a small number of players which will be banned by market makers, thats what happened in fiat exchanges except maybe Betfair..

hi orcun, thanks for your thoughts. No one said this was going to be easy!

We agree that having good technical product is just the first step in building an exchange. Bootstrapping liquidity is the critical challenge for us. We can't wait to get launched.

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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April 09, 2020, 10:56:35 PM
Merited by tyKiwanuka (1)
 #183


It's very hard to drag people away from Betfair. They have a monopoly and whoever tried to challenge them in the past, has failed. I still remember back in the days, when they introduced the premium charge and everyone was raging. In the Betfair forums there was a call to leave Betfair and play/trade at Betdaq instead. The traders agreed on meeting in certain markets and do their business there. This worked a bit, but the liquidity was still way below Betfair. And of course you don't want to trade with/against fellow pros, but you want lots of noobs in the market. And these noobs didn't bother to move to Betdaq, because Betfair was still very liquid and these noobs were not affected by the premium charge. So everyone went back to Betfair and Betdaq remained just another exchange with no volume until today.

This is all fascinating to witness. I guess all other betting exchanges have better conditions, better customer support, aren't that greedy etc., but still everyone stays at Betfair or some white label solution of them. I don't think this will change in the foreseeable future, but one can try Wink With lots of patience.....and money.

Great post tyKiwanuka.

We remember when BF premium charge was introduced, it was very messy. But, as you point out, liquidity has its own gravitational field - getting significant parts of large liquidity pools to move somewhere else is a huge challenge.

But we firmly believe that there are a number of important trends (both inside and outside the betting industry) which offer an opportunity to disrupt the stranglehold that Betfair has on betting exchange liquidity. Patience and money are useful, yes, but also a clear idea of what Betfair don't or can't do well (conditions, customer support, commission are not really their weak spots in our opinion).

One thing we certainly agree on - it is a fascinating challenge, and we hope you will be around to watch, comment, and maybe have a bet or two once we've launched Cool

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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April 10, 2020, 09:42:47 AM
Merited by Welsh (2)
 #184

One thing we certainly agree on - it is a fascinating challenge, and we hope you will be around to watch, comment, and maybe have a bet or two once we've launched Cool

I will definitely test things out when launched. The betting world needs some serious competition to Betfair and if it's just to get them off their high horse. Most users have a love-hate relationship with Betfair, so do I, and would be happy with a good and liquid alternative.

As discussed previously, liquidity is the most important cornerstone. What I am dearly missing nowadays though, being forced to use a white label Betfair exchange, is trading software. It's just so weary to do everything manually instead of one-click and all the maths being taken care of too (yes I am not good/fast with maths Grin). As I understood, you will have a market maker API at launch, so maybe it's not just a pipe dream to have some trading software like Geeks Toy available in the future, if all goes well with your exchange Smiley

But we firmly believe that there are a number of important trends (both inside and outside the betting industry) which offer an opportunity to disrupt the stranglehold that Betfair has on betting exchange liquidity.

I will get a bit off-topic here, but what I observed from a punters point of view, is a downward trend in terms of betting activity. And in my mind it's because the betting middle class is thinning out dramatically - just like the middle class is dying out in society. While until some years ago solid punters could make some money or at least break-even, this has now become way harder, because the markets have matured so much. Someone who was able to make some extra bucks in the past, which made it worth his/her time while not being addicted, is now not being able to do so anymore and will lose longterm. And these people are smart (and healthy for that matter) enough to leave the betting space unlike the gambling addicts. 

This causes some imbalance, which is especially bad for betting exchanges. Bookmakers don't care - they are even happy with it - but the betting exchanges need a/the middle class, since addicts are not the ones using an exchange normally (no parlays there Wink). You need constant influx of money, because the sharks only take money out of the system and don't add to it. This influx is hard to get with a small middle class and addicts normally not too excited about exchanges.
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April 10, 2020, 11:41:29 AM
Last edit: April 10, 2020, 12:46:50 PM by orcun
Merited by exbet.io (1)
 #185

Exbet will fail. PERIOD.

Betbtc was a BTC bet exchange for 4,5 YEARS!.. They had everything, Betfair interface, good odds and API.. it had shit liquidity and in the end became (had to become) a sportsbook..

Fairlay the biggest BTC exchange has shit liquidity too. You may say because of its interface but why did Betbtc fail then? Exbet got excited for nothing..

BTC BET EXCHANGE business has no market except for a small number of players which will be banned by market makers, thats what happened in fiat exchanges except maybe Betfair..

hi orcun, thanks for your thoughts. No one said this was going to be easy!

We agree that having good technical product is just the first step in building an exchange. Bootstrapping liquidity is the critical challenge for us. We can't wait to get launched.

Thank you for the replying.. I hope you succeed and save us from bookies robbing us with their odds Grin. just wanted to mention the challenges, good to know your aware of them.. I am sad to miss beta, also can't wait

I still think it will fail but let's hope a miracle happens..
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April 10, 2020, 10:40:55 PM
 #186

As discussed previously, liquidity is the most important cornerstone. What I am dearly missing nowadays though, being forced to use a white label Betfair exchange, is trading software. It's just so weary to do everything manually instead of one-click and all the maths being taken care of too (yes I am not good/fast with maths Grin). As I understood, you will have a market maker API at launch, so maybe it's not just a pipe dream to have some trading software like Geeks Toy available in the future, if all goes well with your exchange Smiley

Exactly, the Exbet API will allow integration with off-the-shelf trading tools like Geeks Toy or Bet Angel, or with bespoke private trading tools.

Quote
I will get a bit off-topic here, but what I observed from a punters point of view, is a downward trend in terms of betting activity. And in my mind it's because the betting middle class is thinning out dramatically - just like the middle class is dying out in society.....

.....You need constant influx of money, because the sharks only take money out of the system and don't add to it. This influx is hard to get with a small middle class and addicts normally not too excited about exchanges.

(Sorry for chopping your quote down)

We agree with the last bit, not so much with the first, although there are multiple points there, all of which ring true to some extent.

As you say at the end, for the sharps to take money out, someone needs to be putting the money in.

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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April 10, 2020, 11:14:18 PM
 #187

Why this one shows like this?


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April 11, 2020, 09:56:28 AM
 #188

thanks stomachgrowls, fixed now.

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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April 11, 2020, 10:12:05 AM
 #189

hi orcun, thanks for your thoughts. No one said this was going to be easy!

We agree that having good technical product is just the first step in building an exchange. Bootstrapping liquidity is the critical challenge for us. We can't wait to get launched.

Thank you for the replying.. I hope you succeed and save us from bookies robbing us with their odds Grin. just wanted to mention the challenges, good to know your aware of them.. I am sad to miss beta, also can't wait

I still think it will fail but let's hope a miracle happens..

We believe in miracles  Cool

Here's a screenshot of the current home page - we've been working hard since beta, responding to feedback. Site looks even better now... and the UX has gone up a level as well.



We are feeding in events from last autumn (in the absence of live events). Looks like our market maker bot thinks it can get away with lazy pricing, just cos it's Easter weekend  Grin

If Covid-19 delays launch much longer we'll have to do a second beta (a beta beta??)

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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April 11, 2020, 11:38:33 AM
 #190

hi orcun, thanks for your thoughts. No one said this was going to be easy!

We agree that having good technical product is just the first step in building an exchange. Bootstrapping liquidity is the critical challenge for us. We can't wait to get launched.

Thank you for the replying.. I hope you succeed and save us from bookies robbing us with their odds Grin. just wanted to mention the challenges, good to know your aware of them.. I am sad to miss beta, also can't wait

I still think it will fail but let's hope a miracle happens..

We believe in miracles  Cool

Here's a screenshot of the current home page - we've been working hard since beta, responding to feedback. Site looks even better now... and the UX has gone up a level as well.

https://i.imgur.com/3EHNHKI.png

We are feeding in events from last autumn (in the absence of live events). Looks like our market maker bot thinks it can get away with lazy pricing, just cos it's Easter weekend  Grin

If Covid-19 delays launch much longer we'll have to do a second beta (a beta beta??)


Interface is really slick.. Few questions if u don't mind

1.Will we have a clear guarantee market makers won't reject successfull bettor's orders or you won't close account of bettors who beat them? (heard it happening a lot non-Betfair fiat exchanges)

2.if there is not enough volume, you will ever trade in your own markets? (since you talked about your market maker bot)

3.Last, are you afraid of degens.com adding BTC and compete with you?  Grin They have Betfair like interface. (Sorry if this question sounds weird, but i'm a regular bettor there )

sorry if they are too early to ask and thanks in advance..
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April 11, 2020, 12:24:30 PM
 #191

#1 if thats the case then forget it. its not an exchange its a scam and dead on arrival. no one will be trading on a platform where "special users" have execution advantage.

but surely that is not the plan exbet???
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April 11, 2020, 12:50:45 PM
 #192

Interface is really slick..
Thanks!

Quote
1.Will we have a clear guarantee market makers won't reject successfull bettor's orders or you won't close account of bettors who beat them? (heard it happening a lot non-Betfair fiat exchanges)
There is no functionality on Exbet that allows anyone to review and reject orders. We will not be changing that. End of story.

We think it would be counter-productive to allow that kind of behaviour. As arco-yabamba says above - how do you attract liquidity to an exchange that is not fair? We don't think there is a long-term future for that kind of "exchange".

Quote
2.if there is not enough volume, you will ever trade in your own markets? (since you talked about your market maker bot)
Currently, we have our own bots running on internal testnet to test the API, and experiment with traffic/load. Also so that our UX devs can work with a "full" exchange.

Our mission is to build a world-class betting exchange. For liquidity, our efforts focus on (i) building clean, efficient APIs (ii) attracting professional market makers to the platform. Trading our own markets (seeding) is not part of the plan for launch but we see it as a possible tool in bootstrapping of liquidity, especially for new or more peripheral markets.

Quote
3.Last, are you afraid of degens.com adding BTC and compete with you?  Grin They have Betfair like interface. (Sorry if this question sounds weird, but i'm a regular bettor there )
No.

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April 11, 2020, 12:52:07 PM
 #193

#1 if thats the case then forget it. its not an exchange its a scam and dead on arrival. no one will be trading on a platform where "special users" have execution advantage.

but surely that is not the plan exbet???


That is not the plan  Cool

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April 11, 2020, 01:51:02 PM
 #194


3.Last, are you afraid of degens.com adding BTC and compete with you?  Grin They have Betfair like interface. (Sorry if this question sounds weird, but i'm a regular bettor there )


just checked this out. if runs on ethereum who pays gas when placing bet? no kyc is nice but no legal accountability for grading requires big trust from user. letsbe honest traded vols are filth
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April 14, 2020, 06:45:39 PM
 #195

thanks for cleaing it it exbet..


3.Last, are you afraid of degens.com adding BTC and compete with you?  Grin They have Betfair like interface. (Sorry if this question sounds weird, but i'm a regular bettor there )


just checked this out. if runs on ethereum who pays gas when placing bet? no kyc is nice but no legal accountability for grading requires big trust from user. letsbe honest traded vols are filth

check their faq about gas.. i know volume sucks but odds are good
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April 14, 2020, 07:07:57 PM
 #196

I think it would be smart to give an indication on the website, when you are about to launch the site and not only state "Launch in 2020", it could be anywhere in 9 months.
Customers want to know a time frame. Not exactly of course, but it would help to be a little bit more specific.

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April 15, 2020, 08:42:00 PM
 #197

Thanks gosha. Part of the issue is that it is not clear when the sporting calendar will get back to normal, and so we cannot give too much indication about when launch will occur. But we do plan to update the landing page soon and will take your thoughts into consideration.

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April 15, 2020, 08:48:22 PM
 #198

thanks for cleaing it it exbet..

You're welcome. We appreciate the chance to answer some good questions about exbet.io!

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April 16, 2020, 05:53:22 PM
 #199



just checked this out. if runs on ethereum who pays gas when placing bet? no kyc is nice but no legal accountability for grading requires big trust from user. letsbe honest traded vols are filth

check their faq about gas.. i know volume sucks but odds are good

I had a look maybe it's just me but it made my head hurt reading that lol. gas if you're a taker but not if you're a maker and you need to calculate it and errrrr good luck getting more volume I'm not having it. but fair play they have been sticking with it for years now
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April 16, 2020, 07:27:22 PM
 #200

A lot of customers will be very excited to see this platform launches. Will this be sports betting or also live betting? The most excitement will be in the live betting for most users.

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