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

[ekeh]

We are in Era of technology, with the explosion of bitcoin in market, with a massive rapidly demand in Blockchain technology, like wise other alt-coin in the cryptocurrency gaming exchange industries, which is simply know as a digital assets, across the globe. Good job bitcoin betting exchange.

[nasipadang]

I also think the Betting exchange is a good idea. Especially since the number of betting exchanges is quite limited at the moment. You have a few big players that have been around for years.
But there are basically no major players in the field of crypto. Maybe this is one in the making. It looks they are motivated and willing to do the best so far.

[exbet.io]

Hope everyone is enjoying the International Soccer schedule this weekend. There's been a few lumpy bets on Exbet so far.

Looking forward to Bengals @ Steelers in the NFL later today:
https://exbet.io/market/1.24.8325

Steelers unbeaten but coming off a very demanding schedule these past few weeks. Bengals coming out of a bye week and we have a soft spot for Joe Burrow who is looking like the real deal in his first season. Bengals need to get the rush going to have a chance.

Next week we will be adding new European soccer leagues to Exbet, including French Ligue 1 and Portuguese Primeira Liga. We'll update y'all here when they go live.

[imutlinda]

there is little interest in this topic at the moment. maybe it would be an idea to organize a signature campaign to get some more name recognition?

[deadthings]

They have not been active on the forum for very long. In terms of account, but not from the moment the site is online. They may want to make some improvements or updates first.
That idea of ​​a signature campaign is a good one by the way.

[exbet.io]

there is little interest in this topic at the moment. maybe it would be an idea to organize a signature campaign to get some more name recognition?

Hi imutlinda

Signature campaign are good ideas, along with other advertising. As deadthings suggest, right now we are holding off on that until we see some growth in in-play liquidity - we are working on technology (API, scaling) and business (market maker partnerships) to make this happen.

In the meantime we are happy to see userbase grow organically, and are encouraged with number of sign-ups just through our social media presence and word of mouth.

Regards
The Exbet Team

[arco-yabamba]

hello exbet site is working good for us but deff need some in-play action its a cold night in hell in tonites international markets lol how are signups going, there is plenty of money about to tempt the fidh

[exbet.io]

hello exbet site is working good for us but deff need some in-play action its a cold night in hell in tonites international markets lol how are signups going, there is plenty of money about to tempt the fidh

Hi arco, yes "a cold night in hell" pretty much sums it up just now 

New users signing up every day, and we are very happy with userbase just one month after launch. Especially given we are currently relying on organic word-of-mouth growth. Once we see in-play liquidity coming in, it will be interesting to see how a more aggressive user acquisition strategy can affect user growth. And how in turn that will drive liquidity.

It's important to emphasize though - pre-match liquidity is already very decent in all sports, especially bigger Soccer leagues and NFL. Perfect to bring in all those fidh you talk about  (took us a while to work out what a "fidh" was or is meant to be...).

[MI6]

hello exbet site is working good for us but deff need some in-play action its a cold night in hell in tonites international markets lol how are signups going, there is plenty of money about to tempt the fidh

Hi arco, yes "a cold night in hell" pretty much sums it up just now 

New users signing up every day, and we are very happy with userbase just one month after launch. Especially given we are currently relying on organic word-of-mouth growth. Once we see in-play liquidity coming in, it will be interesting to see how a more aggressive user acquisition strategy can affect user growth. And how in turn that will drive liquidity.

It's important to emphasize though - pre-match liquidity is already very decent in all sports, especially bigger Soccer leagues and NFL. Perfect to bring in all those fidh you talk about  (took us a while to work out what a "fidh" was or is meant to be...).

Perhaps the problem lies in the fact that many users nowadays prefer to bet live rather than pre-match? Everything used to be prematch, but now you can bet live anywhere.
Then it is a matter of ensuring that there is sufficient liquidity there. The site looks good. Hopefully you will get enough customers to fill the liquidity.

[Intrepidity]

I think you would get many users with horse racing, with sports betting you have 100's of sites and much competition in the bitcoin world.

There are very few bitcoin with horse racing, and the few there are, are  all flimpers.

I know you said in earlier post more difficult to set up horses, but sometimes a more difficult task renders greater success.

[wildan88]

I think you would get many users with horse racing, with sports betting you have 100's of sites and much competition in the bitcoin world.

There are very few bitcoin with horse racing, and the few there are, are  all flimpers.

I know you said in earlier post more difficult to set up horses, but sometimes a more difficult task renders greater success.

I know hey laying of horses and greyhounds was also very popular a while ago. Now probably still.
That gives a better chance of winning if a rider does not have to win instead of winning.
Still, strange things can happen in horse racing, I have seen horses win in play that had odds of around 100

[exbet.io]

hello exbet site is working good for us but deff need some in-play action its a cold night in hell in tonites international markets lol how are signups going, there is plenty of money about to tempt the fidh

Hi arco, yes "a cold night in hell" pretty much sums it up just now 

New users signing up every day, and we are very happy with userbase just one month after launch. Especially given we are currently relying on organic word-of-mouth growth. Once we see in-play liquidity coming in, it will be interesting to see how a more aggressive user acquisition strategy can affect user growth. And how in turn that will drive liquidity.

It's important to emphasize though - pre-match liquidity is already very decent in all sports, especially bigger Soccer leagues and NFL. Perfect to bring in all those fidh you talk about  (took us a while to work out what a "fidh" was or is meant to be...).

Perhaps the problem lies in the fact that many users nowadays prefer to bet live rather than pre-match? Everything used to be prematch, but now you can bet live anywhere.
Then it is a matter of ensuring that there is sufficient liquidity there. The site looks good. Hopefully you will get enough customers to fill the liquidity.

Hey MI6, thanks for taking a look at Exbet.
We agree - there has been a huge movement of interest and action from pre-match to in-play over the past 10+ years, in sports betting generally. That's why our focus is currently on enabling in-play liquidity providers.
Regards
The Exbet Team

[MyRealName]

You should provide some sort of rewards for market makers. For example: you have base commission for takers 1% (so give at least 0.5% to market maker). Market makers nowadays have  hard times, huge exposure to smart players if you want to offer competitive odds, this is full time job and hard to automate this process even using best odds providers. This is a risky job and should be rewarded. Otherwise exbet will never become a truly exchange with natural liquidity.

[MI6]

I also think it is only a matter of time before the site starts to gain popularity. I haven't read any negative comments either so that's a good sign.
Think the site looks good and clear. More customers will come for sure.

[exbet.io]

You should provide some sort of rewards for market makers. For example: you have base commission for takers 1% (so give at least 0.5% to market maker). Market makers nowadays have  hard times, huge exposure to smart players if you want to offer competitive odds, this is full time job and hard to automate this process even using best odds providers. This is a risky job and should be rewarded. Otherwise exbet will never become a truly exchange with natural liquidity.

Hello MyRealName
These are fair comments.
At the moment, we want to keep the Exbet commission structure simple and straightforward. We thik that has value - 1% flat rate commission for everyone is a clear, simple value proposition.
However, we do appreciate the extra risk that market making can bring. Our approach is to build solid relationships with third parties who can bring scalable, reliable market making to entire sports/leagues, either pre-match, in-play or both. In building these relationships, we work on getting the technology and commercial partnership right, and we see bespoke commission deals as one lever available. As we have made clear from very early on, any third party interested in bringing liquidity to Exbet should get in touch so we can discuss in more detail.
Regards

[DarkDays]

You should provide some sort of rewards for market makers. For example: you have base commission for takers 1% (so give at least 0.5% to market maker). Market makers nowadays have  hard times, huge exposure to smart players if you want to offer competitive odds, this is full time job and hard to automate this process even using best odds providers. This is a risky job and should be rewarded. Otherwise exbet will never become a truly exchange with natural liquidity.

Our approach is to build solid relationships with third parties who can bring scalable, reliable market making to entire sports/leagues, either pre-match, in-play or both. In building these relationships, we work on getting the technology and commercial partnership right, and we see bespoke commission deals as one lever available.

Given the passive approach of increasing the user base and that the current focus is forging the right partnerships, I get the impression that this project is still in making and perhaps launched per-maturely?

Perhaps, a shift on focus from large institutional partnerships to user acquisition might help with the main goal of this project which you clearly described. I'm suggesting this as simply having an interested community might be on your side when presenting your project to particular VC and it might make your case stronger?

In that way, it doesn't strike me as too carefree not to invest a little in marketing strategies some of which have been mentioned on here already.

In any case, with the info available these are my thoughts but maybe there are other factors at play affecting these decisions that I'm not aware of.

[Haunebu]

Perhaps, a shift on focus from large institutional partnerships to user acquisition might help with the main goal of this project which you clearly described. I'm suggesting this as simply having an interested community might be on your side when presenting your project to particular VC and it might make your case stronger?

The best way to shift focus in this case is to advertise Exbet throughout this forum in various ways like signature campaigns, bounty campaigns, contests etc.

Without marketing, Exbet will most likely be a small crypto betting exchange with low liquidity. They need to put in the effort like other crypto gambling sites in order to reap the rewards.

[tyKiwanuka]

The best way to shift focus in this case is to advertise Exbet throughout this forum in various ways like signature campaigns, bounty campaigns, contests etc.

(...) They need to put in the effort like other crypto gambling sites in order to reap the rewards.

Doesn't work imo

You can judge by quite some statements in the past that lots of users have no idea what Exbet is and how it works. And this is kind of expected, since a) you don't have a lot users in here, that do place bets, although they are often writing in gambling section (we know the reason for this) and b) the minority who actually does, are actually low-rollers (no offense) and just like to have some fun with an easy UI - placing bets in a traditional way/bookmaker and c) Casino-gambling is still bigger here and in general, so it's way easier for sites like SB/FJ/Betnomi etc. to get things rolling via the tools you mentioned.

I think the people who should know about Exbet in this forum already do know and you won't (are not able to) attract many more through promotions in here to make it worth what this all costs. This being said, I have no better idea as well than just to wait for organic growth, which will come from outside this forum then imo. And hopefully it will bring inplay liquidity

[MyRealName]

Just deposited some BTC to test the platform. The first impression is it has a lot of errors and doesn't work like exchange.
Major cons:
1. Short number of digits after decimal point (please look at matchook and implement it like it should be) don't repeat betfair mistakes.
2. When I make an offer the opposit odds doesn't change (if it's the same "two way" market) the odds should change correspondingly like on the most exchanges.
3. No detail market stats.
4. No information about positions of my orders if i have the same odds.
5. Need to refresh whole page to see odds changes

and much more......
You need to put some work to make it a good sports betting exchange. In current state it's unusable for me. Please fix these bugs.

[exbet.io]

Given the passive approach of increasing the user base and that the current focus is forging the right partnerships, I get the impression that this project is still in making and perhaps launched per-maturely?

Perhaps, a shift on focus from large institutional partnerships to user acquisition might help with the main goal of this project which you clearly described. I'm suggesting this as simply having an interested community might be on your side when presenting your project to particular VC and it might make your case stronger?

In that way, it doesn't strike me as too carefree not to invest a little in marketing strategies some of which have been mentioned on here already.

In any case, with the info available these are my thoughts but maybe there are other factors at play affecting these decisions that I'm not aware of.

Hey DarkDays

Thanks for taking the time to articulate your thoughts!

There is a classic chicken-and-egg challenge to any new exchange - liquidity is required to attract users, but users are required to attract liquidity. Bootstrapping liquidity often requires switching focus between two components (1. liquidity and 2. users) at different times. Right now, our focus is more towards liquidity, but not exclusively - users are important!

We are seeing sign-ups increase week on week, and increasing volumes of bets on the exchange. Users like the 102% books on Exbet for Premier League and NFL main lines! So the work we have been doing for 12+ months on building profile and community around the project is paying off with encouraging organic growth.

But launching now has allowed us to get feedback from early Exbet users and the community - and in-play betting is something they want. Paid advertising and signature campaigns will bring in a lot of users... but they might not stay on Exbet unless we have a strong in-play offering. That's why the focus stays on in-play liquidity for now, but we are not ignoring user growth. Believe us 

Thanks again for comments 

Regards
The Exbet Team