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Author Topic: Exbet is LIVE >> The Bitcoin Betting Exchange [exbet.io]  (Read 12476 times)
Intrepidity
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October 14, 2020, 06:24:10 PM
 #541


[/quote]

hi Intrepidity, the issue you encountered is an edge case - it only occurs where a new bet's stake/liability exceeds the funds left in the user's account. We do not believe this feature will significantly affect liquidity in any way (although we do not underestimate the general challenge of building liquidity on Exbet). But we appreciate you bringing this up and will take it back to our dev team for review. Thanks!



[/quote]

i see what you are saying, but have you thought of this scenario?

A punter pre match has a backof 1 @ odds of 4, this is his total account balnce so his balance now is 0

with 5 mins to go his team is winning and he wants to trade his bet so he wins whatever the result.

On what you are saying he will not be able too. when the equaliser arrives you will have a disgruntled punter.

Not knocking your site, think you have done a great job, but this is serious flaw.

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October 14, 2020, 06:53:08 PM
 #542


i see what you are saying, but have you thought of this scenario?

A punter pre match has a backof 1 @ odds of 4, this is his total account balnce so his balance now is 0

with 5 mins to go his team is winning and he wants to trade his bet so he wins whatever the result.

On what you are saying he will not be able too. when the equaliser arrives you will have a disgruntled punter.

Not knocking your site, think you have done a great job, but this is serious flaw.


For sure, we see your point. We are not sure how often that will occur, but the devs could have underestimated this issue. We will definitely raise it with them - again, really appreciate you taking the time  Smiley

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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October 14, 2020, 08:17:52 PM
 #543

hiccups?

We suggest drinking water backwards. Or holding breath  Smiley

Should be another few hours... hold on to your hats.

We all waiting for launch to know, how it is and how much liquidity there, in Exchange without liquidity and low spread is waste of time.

Great to have you here waiting, deadley. As we all know, liquidity takes time to build.. but we hope the liquidity is strong enough an Day 1 to support first users.

Is KYC necessary in beginning? If it is not, I will sign up and deposit some funds to try.

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October 14, 2020, 08:45:09 PM
Merited by Arcas (1)
 #544

hiccups?

We suggest drinking water backwards. Or holding breath  Smiley

Should be another few hours... hold on to your hats.

We all waiting for launch to know, how it is and how much liquidity there, in Exchange without liquidity and low spread is waste of time.

Great to have you here waiting, deadley. As we all know, liquidity takes time to build.. but we hope the liquidity is strong enough an Day 1 to support first users.

Is KYC necessary in beginning? If it is not, I will sign up and deposit some funds to try.

hey deadley!

KYC is not required at the beginning.

All that is required to sign up and deposit is a functioning email. To enable withdrawals for the account you will need to verify your email address (by clicking on a link that we email to you). If the user wants to withdraw or deposit more than (BTC equivalent of) 2500 USD then a one-time KYC authorzation is necessary.

All this is laid out in clause 5 of the Exbet T&Cs - we tried to be as up-front as possible about KYC requirements, but please let us know if there are more Qs.

Thanks!

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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October 14, 2020, 09:15:46 PM
Merited by exbet.io (1)
 #545

We appreciate your honest answer. Finally somebody who is fair and admit the KYC must be completed after a decent amount. I did not know it was 2500.
It seems this company wants to do everything according to the rules of the license and respects the rules of the government in Curacao.
This example should be followed by more sites. It is also better that these KYC procedure are clear stated, instead of being surprised when you want to withdraw a big sum.
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October 14, 2020, 09:21:18 PM
 #546

We appreciate your honest answer. Finally somebody who is fair and admit the KYC must be completed after a decent amount. I did not know it was 2500.
It seems this company wants to do everything according to the rules of the license and respects the rules of the government in Curacao.
This example should be followed by more sites. It is also better that these KYC procedure are clear stated, instead of being surprised when you want to withdraw a big sum.


Hi Arcas!
Yes, we want to respect the terms of our Curacao license - we take that very seriously.
And we also want to respect our users, by being honest about what our license requires us to do.
We invite questions, and will do our best to answer.
Regards
The Exbet Team

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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October 15, 2020, 07:56:03 AM
 #547

You can read the detailed Review of Exbet.io here: http://100bookies.com/exbet-io-review/

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October 15, 2020, 08:16:20 AM
 #548

You can read the detailed Review of Exbet.io here: http://100bookies.com/exbet-io-review/


Thanks sportbettor!

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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October 15, 2020, 09:26:58 AM
 #549

Congrats on your launch!

Your UI looks very different than Betfair or Degens though, and I can't understand why you would create the UI in a non standard way.

This pic below is how betfair, matchbook and degens all display a market. No other site displays markets like exbet.


DEGENS.COM - NON CUSTODIAL SPORTS BETTING EXCHANGE
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October 15, 2020, 09:41:57 AM
 #550


Is KYC necessary in beginning? If it is not, I will sign up and deposit some funds to try.

hey deadley!

KYC is not required at the beginning.

All that is required to sign up and deposit is a functioning email. To enable withdrawals for the account you will need to verify your email address (by clicking on a link that we email to you). If the user wants to withdraw or deposit more than (BTC equivalent of) 2500 USD then a one-time KYC authorization is necessary.

All this is laid out in clause 5 of the Exbet T&Cs - we tried to be as up-front as possible about KYC requirements, but please let us know if there are more Qs.

Thanks!

Good to know especially  if you are not that heavy gamblers who can stay below $2500 you can continue enjoying using the platform without the needs of verifying your identity.

Question though, is this applies only to gambler who wanted to withdraw that certain amount or it also applied case to case, I mean the KYC, any chance that it will be applied to anyone?

Most cases with suspicious activities inside the site, I understand that site owners
have the right to investigate to the point of asking for KYC.


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tyKiwanuka
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October 15, 2020, 09:46:33 AM
 #551

Your UI looks very different than Betfair (...)

It does indeed in the overview for a league, which is a bit confusing I agree, but the specific markets have the same layout as other exchanges:


Source: https://exbet.io/market/1.24.3797

I am waiting for the day you come here without advertising your exchange in the Exbet thread, it's so obvious  Roll Eyes
Intrepidity
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October 15, 2020, 11:07:12 AM
 #552

see above, never have understood the layout.

There is no need for both options in a two way market, betfair do it as well, Jackson Jags option is redundant it is not needed.
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October 15, 2020, 11:31:55 AM
 #553


Is KYC necessary in beginning? If it is not, I will sign up and deposit some funds to try.

hey deadley!

KYC is not required at the beginning.

All that is required to sign up and deposit is a functioning email. To enable withdrawals for the account you will need to verify your email address (by clicking on a link that we email to you). If the user wants to withdraw or deposit more than (BTC equivalent of) 2500 USD then a one-time KYC authorization is necessary.

All this is laid out in clause 5 of the Exbet T&Cs - we tried to be as up-front as possible about KYC requirements, but please let us know if there are more Qs.

Thanks!

Good to know especially  if you are not that heavy gamblers who can stay below $2500 you can continue enjoying using the platform without the needs of verifying your identity.

Question though, is this applies only to gambler who wanted to withdraw that certain amount or it also applied case to case, I mean the KYC, any chance that it will be applied to anyone?

Most cases with suspicious activities inside the site, I understand that site owners
have the right to investigate to the point of asking for KYC.


Hi Fredomago

Suspicious activities are indeed something that need to be reported by the obligations of our license. There are no hard rules for what counts as "suspicious" - but we need to be able to report in a way that aligns with AML guidelines, which means keeping options open to do KYC at any time. We advise checking out the Exbet T&Cs available at exbet.io for specific details. Clause 5 in particular tries to be as clear as possible about KYC scenarios.

Regards

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
hulla
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October 15, 2020, 03:36:02 PM
 #554

We appreciate your honest answer. Finally somebody who is fair and admit the KYC must be completed after a decent amount. I did not know it was 2500.
It seems this company wants to do everything according to the rules of the license and respects the rules of the government in Curacao.
This example should be followed by more sites. It is also better that these KYC procedure are clear stated, instead of being surprised when you want to withdraw a big sum.


Hi Arcas!
Yes, we want to respect the terms of our Curacao license - we take that very seriously.
And we also want to respect our users, by being honest about what our license requires us to do.
We invite questions, and will do our best to answer.
Regards
The Exbet Team
It understandable that gambling site can not operate outside the rules and regulations in the contract of their Master license holder but I dont understand why you guys have to charged a certain 1% commission fee on users net winning in the market not on the house.

.
.Duelbits.
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October 15, 2020, 03:51:19 PM
 #555

Your UI looks very different than Betfair (...)

It does indeed in the overview for a league, which is a bit confusing I agree, but the specific markets have the same layout as other exchanges:


Source: https://exbet.io/market/1.24.3797

I am waiting for the day you come here without advertising your exchange in the Exbet thread, it's so obvious  Roll Eyes

That is not true. Look at any Degens.com or Betfair.com market.

Exbet is doing it a different way for some reason, which is caushing the confusion.

DEGENS.COM - NON CUSTODIAL SPORTS BETTING EXCHANGE
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October 15, 2020, 04:36:49 PM
 #556

It understandable that gambling site can not operate outside the rules and regulations in the contract of their Master license holder but I dont understand why you guys have to charged a certain 1% commission fee on users net winning in the market not on the house.

Hi hulla

Charging a commission fee is standard for betting exchanges. That's how the exchange covers its operational costs.

The fee is structured so that users don't pay commission in markets where they do not make profit.

There is no house on a betting exchange - users place bets against each other.

Hope that helps!

Regards
The Exbet Team

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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October 15, 2020, 04:44:28 PM
 #557

Hey folks, just wanted to share this nice write-up from leading gambling industry publication EGR on Exbet launch.

It's behind a paywall, so excuse the screenshot:


https://egr.global/technology/news/bitcoin-first-sports-betting-exchange-launches/

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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October 15, 2020, 04:48:42 PM
 #558

Congratulations on your launch Exbet! Your website is running smooth even in using phone I like the simple design you have here. I hope you would consider adding Esports too in the future.
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October 15, 2020, 04:52:14 PM
 #559

Congratulations on your launch Exbet! Your website is running smooth even in using phone I like the simple design you have here. I hope you would consider adding Esports too in the future.

Thanks bunglor for checking out Exbet! And for the feedback, we appreciate it  Smiley

Esports is on the list, a lot of people ask for it.. We think we need to build liquidity in the main sports markets first but you guys are starting to convince us...

Exbet is LIVE | The Bitcoin Betting Exchange | Back, Lay, and Trade Sports | 1% Commission | NFL, NBA, Soccer & Cricket
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October 15, 2020, 09:07:10 PM
 #560

congrats exbet we never doubted ya for a second lol. site looks superb, our devs are happy with the api, crack on now hihi
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