Exbet is LIVE >> The Bitcoin Betting Exchange [exbet.io]

[exbet.io]

Does this mean that you have some sort of partnership with betfair? I just thought that there is enormous volume with betfair because they have been around for a long time.
Big advantage is that you have Crypto, which is not supported at Betfair. You could take advantage of that. There are not many crypto exchanges.

Hey Cacingkemi

No, Exbet does not have a partnership with Betfair. One day we may let them partner with us 

What we meant was that although esports is a growth area of betting, the volumes on Betfair's exchange are small compared to Soccer, Tennis, Racing, etc. Which suggests that esports is not a high prio sports for an exchange like Exbet to offer.

Crypto is a big advantage - we agree! But it's also important to remember that only about 1% of the world has exposure to cryptocurrency... we are at the start of a long journey. At Exbet we are still working to understand what our users want, and it may be that some kind of fiat or stablecoin option should be supported on Exbet. Watch this space.

Regards
The Exbet Team

[Fredomago]

Does this mean that you have some sort of partnership with betfair? I just thought that there is enormous volume with betfair because they have been around for a long time.
Big advantage is that you have Crypto, which is not supported at Betfair. You could take advantage of that. There are not many crypto exchanges.

Hey Cacingkemi

No, Exbet does not have a partnership with Betfair. One day we may let them partner with us 

What we meant was that although esports is a growth area of betting, the volumes on Betfair's exchange are small compared to Soccer, Tennis, Racing, etc. Which suggests that esports is not a high prio sports for an exchange like Exbet to offer.

Crypto is a big advantage - we agree! But it's also important to remember that only about 1% of the world has exposure to cryptocurrency... we are at the start of a long journey. At Exbet we are still working to understand what our users want, and it may be that some kind of fiat or stablecoin option should be supported on Exbet. Watch this space.

Regards
The Exbet Team

It will happened as you are doing great in understanding what your clients wanted you to offer,
 it will be a give and take between parties with that, the business will grow stronger.

For now, there are small percentage for crypto gamblers but time will come and like how we are seeing progress coming from this crypto market, eventually it will bring more gamblers to use this system.

Adjusting and learning more will be a big advantage to keep clients more active and
have more added visits and usages of your platform. More success to come!

[deadthings]

I also think that great success comes naturally and that it is only a matter of time. Many people are also not aware of an exchange, they are often only betting on the site.
If there is enough enthusiasm now, it will only increase. It's a tough market to compete, but once you have an established name, you have a good customer base.

[efialtis]

Can't wait for your affiliate program to be launched so I can promote you guys on my site - please launch it asap! 

[exbet.io]

Can't wait for your affiliate program to be launched so I can promote you guys on my site - please launch it asap! 

Hey efialtis!

We're looking forward to welcoming you to the Exbet affiliate program, you've been a valued supporter for some time now. Likely to be end of Q1 launch for Exbet affiliate program, can't wait to introduce Exbet to BTC GOSU users 

Regards

[angesangles]

is there any chance over time we could get charts? price /graphs?

I do believe crypto is the way of the future

[exbet.io]

is there any chance over time we could get charts? price /graphs?

I do believe crypto is the way of the future

Hey angesangles, welcome to the forum and the Exbet thread!

Great question about charts. By start of February, we plan to release a feature that allows signed-in users to see the current orderbook (all unmatched bets) in any particular market, in tabular format. After that, we'll be working on showing data for matched bets, in both tabular and chart format. So... we're working on it 

Take a look at exbet.io, we'd love to hear your feedback on the rest of the site!

Regards
The Exbet Team

[arco-yabamba]

is there any chance over time we could get charts? price /graphs?

I do believe crypto is the way of the future

Hey angesangles, welcome to the forum and the Exbet thread!

Great question about charts. By start of February, we plan to release a feature that allows signed-in users to see the current orderbook (all unmatched bets) in any particular market, in tabular format. After that, we'll be working on showing data for matched bets, in both tabular and chart format. So... we're working on it 

Take a look at exbet.io, we'd love to hear your feedback on the rest of the site!

Regards
The Exbet Team

yeh charting is a gap in exbet, need to be able to see what happened when, good to hear full orderbook display is on the way laso

[efialtis]

Can't wait for your affiliate program to be launched so I can promote you guys on my site - please launch it asap! 

Hey efialtis!

We're looking forward to welcoming you to the Exbet affiliate program, you've been a valued supporter for some time now. Likely to be end of Q1 launch for Exbet affiliate program, can't wait to introduce Exbet to BTC GOSU users 

Regards

Yeah, as discussed privately, I am ready with my review and I can't wait to publish it - come on guys, get your aff program going asap! The GOSU is waiting for you! 

[exbet.io]

Can't wait for your affiliate program to be launched so I can promote you guys on my site - please launch it asap! 

Hey efialtis!

We're looking forward to welcoming you to the Exbet affiliate program, you've been a valued supporter for some time now. Likely to be end of Q1 launch for Exbet affiliate program, can't wait to introduce Exbet to BTC GOSU users 

Regards

Yeah, as discussed privately, I am ready with my review and I can't wait to publish it - come on guys, get your aff program going asap! The GOSU is waiting for you! 

Thanks for keeping us honest, efialtis!

[aomakun]

The only thing that might be annoying is that many people cannot play on the site due to strict license regulations. You could consider changing your license, for example.
That way, much more people could enjoy your site and play.

[exbet.io]

The only thing that might be annoying is that many people cannot play on the site due to strict license regulations. You could consider changing your license, for example.
That way, much more people could enjoy your site and play.

Hello aomakun!

In what way is the Exbet license strict? And what alternative licenses would you suggest?

Regards

[exbet.io]

Someone on discord said he found a bug on your site and exploited it and cashed out over 400 USD already. Just saying so you can check and fix it.

Hello.

Thanks for your post.

An anonymous person has contacted Exbet separately about a "bug" that is supposedly being exploited by a user. We take the security of the Exbet platform and our users very seriously, and so we asked this anonymous person to report this bug as per our internal guidelines for bug disclosures. This anonymous person has failed to report the bug or engage with us as per our guidelines.

We hope it is clear to the bitcointalk community and to all Exbet users that it is not good business sense or good security practice to pay bug bounties sight unseen to anonymous people.

If anyone has an Exbet bug they wish to report, please contact Exbet directly on the email address security [ at ] exbet.io. We will explain our procedures for bug disclosure and possible bug bounty.

We will not be commenting on this issue again.

Regards
The Exbet Team

[arco-yabamba]

shows your on to something exbet when the scammers start crawling out their holes lol. aqcuantaince of mine set up btc casino years ago and he said  you wd not belief the amount of scammers it was xonstant, mostly easy to spot but sometiems he had to take it serious welcome to crypto lol

[ziadmar]

I've just joined Exbet today and I have to say you've done a very good job, it's the closest thing to betfair. The website is quite smooth and easy to navigate, but the liquidity is too low. Hopefully that would pick up in the future. Just one thing, I noticed that the site keeps logging me out every couple of hours. Usually people spend lots of time on betting exchanges and the most annoying thing is to get logged out in the middle of a match. There should be an option to keep users logged in.

Also, there is another thing. Let's say in a football match with 3 possible outcomes, I lay team 1 at 3.00 for 1 mbtc (2 mbtc liability) then in the same market I also lay draw at 3.60 for 1 mbtc (2.60 mbtc liability), the website deducts the total of both liabilities from my balance. There is no need for that since only one outcome will win. Only the lay with the higher liability should be deducted from the balance and not the total. This is how it is on betfair.

[exbet.io]

I've just joined Exbet today and I have to say you've done a very good job, it's the closest thing to betfair. The website is quite smooth and easy to navigate, but the liquidity is too low. Hopefully that would pick up in the future.

Hello ziadmar! Welcome to Exbet!

Thanks for taking time to post feedback here, we're happy you liked the Exbet website  

You are correct, liquidity needs to continue building. But it is getting stronger all the time - we can see that there is 500 mB to match on the Aston Villa v Newcastle 1x2 market today, which is approx. 15000 USD at current rates. Not bad, but needs to keep growing, yes!

Just one thing, I noticed that the site keeps logging me out every couple of hours. Usually people spend lots of time on betting exchanges and the most annoying thing is to get logged out in the middle of a match. There should be an option to keep users logged in.

Yes, this is a good call. We have had similar feedback from other users and are working on a better solution than we currently have - we need to make sure that we protect account security at the same time as improving UX.

Also, there is another thing. Let's say in a football match with 3 possible outcomes, I lay team 1 at 3.00 for 1 mbtc (2 mbtc liability) then in the same market I also lay draw at 3.60 for 1 mbtc (2.60 mbtc liability), the website deducts the total of both liabilities from my balance. There is no need for that since only one outcome will win. Only the lay with the higher liability should be deducted from the balance and not the total. This is how it is on betfair.

You are correct - in your example, only the larger of the two liabilities should be deducted from user's account funds. But, actually, this IS how it works on Exbet. We have implemented the same functionality as on Betfair.

However, there is one edge case where this fails on Exbet - when the user has not enough funds in their account to cover both liabilities separately. Bitcointalk user Intrepidity brought this up at the end of last year, and we replied here: https://bitcointalk.org/index.php?topic=5187610.msg55380106#msg55380106

We actually have a fix prepared for this which is in testing and will be released at start of February. Good spot by you to find this edge case!

We hope that addresses your issue, but let us know if you are still not satisfied with functionality - we aim to please  

[arco-yabamba]

I've just joined Exbet today and I have to say you've done a very good job, it's the closest thing to betfair. The website is quite smooth and easy to navigate, but the liquidity is too low. Hopefully that would pick up in the future. Just one thing, I noticed that the site keeps logging me out every couple of hours. Usually people spend lots of time on betting exchanges and the most annoying thing is to get logged out in the middle of a match. There should be an option to keep users logged in.

Also, there is another thing. Let's say in a football match with 3 possible outcomes, I lay team 1 at 3.00 for 1 mbtc (2 mbtc liability) then in the same market I also lay draw at 3.60 for 1 mbtc (2.60 mbtc liability), the website deducts the total of both liabilities from my balance. There is no need for that since only one outcome will win. Only the lay with the higher liability should be deducted from the balance and not the total. This is how it is on betfair.

more the merrirer welcome to the fun, liabilities are fine on exbet notwithstanding what they posted above, feel free to bite on some of them juicey prices esp soccer markets, will be nice doing business with u lol

[ziadmar]

However, there is one edge case where this fails on Exbet - when the user has not enough funds in their account to cover both liabilities separately. Bitcointalk user Intrepidity brought this up at the end of last year, and we replied here: https://bitcointalk.org/index.php?topic=5187610.msg55380106#msg55380106

We actually have a fix prepared for this which is in testing and will be released at start of February. Good spot by you to find this edge case!

We hope that addresses your issue, but let us know if you are still not satisfied with functionality - we aim to please  

[/quote]

Thank you for your reply. Sill, the liabilities in the market don't work the same way as in Betfair. I've been trading on Betfair for more than 10 years so I have a good understanding of how it works. Let me give you the following example:

Let's say I only have 2.50 mBT in my balance and in a football match, I lay Team A at 1.25 for 10 mBT.

After the bet is matched, my liabilities will look like this:
Team A -2.50
Draw + 10
Team B +10

And my balance will be 0.00

Now, the odds of Team A go up to 1.30 and I want to back them again to lock in a profit on all sides. So I try to back Team A at 1.30 for 9 mBT. I get an error message saying I don't have enough money in my balance. This bet should be allowed since I already have +10 on the 2 other possible outcomes. In this case I had to cancel other bets in other markets just to cover this bet. This in turn will decrease the liquidity in the markets in general. In Betfair, if you are green on any outcome you can use that green to place other bets on the same market.

I hope the idea got through. If you fix this this would help increase liquidity on the site. Again, you're doing a great job so far and I salute you for that, now we just need more players to come in and play.

Just a question, when a goal is scored in football in-play (live) matches, do you suspend the market or only at the end of the match?

Thanks again

[ziadmar]

more the merrirer welcome to the fun, liabilities are fine on exbet notwithstanding what they posted above, feel free to bite on some of them juicey prices esp soccer markets, will be nice doing business with u lol
[/quote]

Thanks for the warm welcome, i'm looking forward to winning your money hehe

[exbet.io]

Thank you for your reply. Sill, the liabilities in the market don't work the same way as in Betfair. I've been trading on Betfair for more than 10 years so I have a good understanding of how it works. Let me give you the following example:

Let's say I only have 2.50 mBT in my balance and in a football match, I lay Team A at 1.25 for 10 mBT.

After the bet is matched, my liabilities will look like this:
Team A -2.50
Draw + 10
Team B +10

And my balance will be 0.00

Now, the odds of Team A go up to 1.30 and I want to back them again to lock in a profit on all sides. So I try to back Team A at 1.30 for 9 mBT. I get an error message saying I don't have enough money in my balance. This bet should be allowed since I already have +10 on the 2 other possible outcomes. In this case I had to cancel other bets in other markets just to cover this bet. This in turn will decrease the liquidity in the markets in general. In Betfair, if you are green on any outcome you can use that green to place other bets on the same market.

Yes, we 100% agree with you - this is how liabilities should work.

Maybe we were not clear in our comment before - this is how liabilities generally work on Exbet. BUT there is an edge case on Exbet where it does NOT work as it should - this is when the user does not have funds in their account (like in your example) to cover the stake/liability of the second bet (which they should not need to have, exactly like you say). A fix will be released in the next 10 days, and functionality will then be as you describe for all scenarios.

I hope the idea got through.

Yes  

If you fix this this would help increase liquidity on the site. Again, you're doing a great job so far and I salute you for that, now we just need more players to come in and play.

Thanks - it means a lot to us to get good feedback from someone like you who has strong experience with exchange betting.

Just a question, when a goal is scored in football in-play (live) matches, do you suspend the market or only at the end of the match?

Currently, football markets are not managed (which means that we suspend only at the end of the match). However, we aim to trial managed markets (suspend on goal, red card, penalty award) in a few of the top leagues during the spring, with the possibility to roll out out to all leagues later in 2021 if the trial is successful.

Although there are some hardcore exchange users who would be happy with unmanaged markets in football, we believe that it will encourage more liquidity to have managed markets.

What do you think abut managed markets in football, ziadmar?