Bitcoin Betting - DeFi Betting Exchange. No KYC, fully decentralized. ETH & BTC.

[Fivestar4everMVP]

Seems like web3betting is just an alt of Bitcoin-Betting-com which is quite odd if that is true since I don't see the need for it. Anyway, I don't get why your team is still depending on the invite only system even after all this time.

Why on earth would you people isolate so many potential customers because of this crap? Weird decisions.

The game is clear bud, they are possibly trying to appear as though they are one hell of an important casino or betting platform, they mentioned in the op that they will only be handing out the invite code to only important and strong members of this forum, and to be honest with you, even if ever they decide to hand the invite code to me for whatever reason, I wouldnt accept it.

I don't get or understand the Bitcoin-betting title of domain name whereas from my assessment of the site, this looks like a defi casino that has nothing to do with the bitcoin network, and I can't even trust their code to be completely clean..

Anyways, I wish everyone choosing this platform the best of luck, I would rather stick with a centralized casino not minding kyc possibilities, than choose this.

[Web3betting]

Seems like web3betting is just an alt of Bitcoin-Betting-com which is quite odd if that is true since I don't see the need for it. Anyway, I don't get why your team is still depending on the invite only system even after all this time.

Why on earth would you people isolate so many potential customers because of this crap? Weird decisions.

The game is clear bud, they are possibly trying to appear as though they are one hell of an important casino or betting platform, they mentioned in the op that they will only be handing out the invite code to only important and strong members of this forum, and to be honest with you, even if ever they decide to hand the invite code to me for whatever reason, I wouldnt accept it.

I don't get or understand the Bitcoin-betting title of domain name whereas from my assessment of the site, this looks like a defi casino that has nothing to do with the bitcoin network, and I can't even trust their code to be completely clean..

Anyways, I wish everyone choosing this platform the best of luck, I would rather stick with a centralized casino not minding kyc possibilities, than choose this.

I'm a new person here to bitcointalk that is helping to run this thread. I've never posted under any of the other names for Fairlay/Bitcoin-Betting. We have added bitcoin deposits. There's a BTC to RBTC bridge. RBTC is a bitcoin sidechain. It's shown on our X account https://x.com/_bitcoinbetting. We aren't trying to deceive anyone on our size. Everything is onchain and active users and their bets are public information to all. We are starting off slow with Bitcoin-Betting which is why the invite code is still in affect. Because we are new and completely anonymous, we don't want any bad actors.

edit- I shouldn't have said new but less than 1 year as Bitcoin-Betting and over a decade as Fairlay.

[Haunebu]

Everything is onchain and active users and their bets are public information to all. We are starting off slow with Bitcoin-Betting which is why the invite code is still in affect. Because we are new and completely anonymous, we don't want any bad actors.

I don't get it. How is your site completely new when several months have already passed since it launched? Why should anyone bother with your invite only system when there are great alternatives like betdex, orbit exchange, sharp exchange etc out there?

Fairlay was a good site for sure, but I can't find anything good to say about this new site. Bad stuff team.

[Web3betting]

Everything is onchain and active users and their bets are public information to all. We are starting off slow with Bitcoin-Betting which is why the invite code is still in affect. Because we are new and completely anonymous, we don't want any bad actors.

I don't get it. How is your site completely new when several months have already passed since it launched? Why should anyone bother with your invite only system when there are great alternatives like betdex, orbit exchange, sharp exchange etc out there?

Fairlay was a good site for sure, but I can't find anything good to say about this new site. Bad stuff team.

I should have said that we are new under the Bitcoin-Betting URL but the team has been around for over a decade. The one thing that I will say compared to the other sites is that we are more transparent and governed by a DAO. We have the best betting odds of all of the other sites here at bitcointalk. The invite system is an extra step that wasn't meant to be a hassle but that of security.

[CoffeeSipper64]

Everything is onchain and active users and their bets are public information to all. We are starting off slow with Bitcoin-Betting which is why the invite code is still in affect. Because we are new and completely anonymous, we don't want any bad actors.

I don't get it. How is your site completely new when several months have already passed since it launched? Why should anyone bother with your invite only system when there are great alternatives like betdex, orbit exchange, sharp exchange etc out there?

Fairlay was a good site for sure, but I can't find anything good to say about this new site. Bad stuff team.

I should have said that we are new under the Bitcoin-Betting URL but the team has been around for over a decade. The one thing that I will say compared to the other sites is that we are more transparent and governed by a DAO. We have the best betting odds of all of the other sites here at bitcointalk. The invite system is an extra step that wasn't meant to be a hassle but that of security.

How can you claim this when on every betting event that you offer , your odds and maxbet are WAY worse than the odds offered on the same event by any other betting agent?

You and the agents are both supposed to be taking the odds and maxbets out of pinnacle.com or ps3838 and yet based on the odds you are offering , your clients are betting on -0.005 odds and with less liquidity.
Two screenshots of the same event offered both by a betting agent and Bitcoin-betting taken 5min ago.

https://gyazo.com/7f257ae789c841f9b795df4a20cf238d

https://gyazo.com/f2ab7561231788eb005a194d617bd819

On nearly every event that I see you offer worse odds (even by a little your odds are worse) which decreases your clients potential winnings.
So why would he prefer you over some betting agent besides the anonymity factor?

[Web3betting]

Everything is onchain and active users and their bets are public information to all. We are starting off slow with Bitcoin-Betting which is why the invite code is still in affect. Because we are new and completely anonymous, we don't want any bad actors.

I don't get it. How is your site completely new when several months have already passed since it launched? Why should anyone bother with your invite only system when there are great alternatives like betdex, orbit exchange, sharp exchange etc out there?

Fairlay was a good site for sure, but I can't find anything good to say about this new site. Bad stuff team.

I should have said that we are new under the Bitcoin-Betting URL but the team has been around for over a decade. The one thing that I will say compared to the other sites is that we are more transparent and governed by a DAO. We have the best betting odds of all of the other sites here at bitcointalk. The invite system is an extra step that wasn't meant to be a hassle but that of security.

How can you claim this when on every betting event that you offer , your odds and maxbet are WAY worse than the odds offered on the same event by any other betting agent?

You and the agents are both supposed to be taking the odds and maxbets out of pinnacle.com or ps3838 and yet based on the odds you are offering , your clients are betting on -0.005 odds and with less liquidity.
Two screenshots of the same event offered both by a betting agent and Bitcoin-betting taken 5min ago.

https://gyazo.com/7f257ae789c841f9b795df4a20cf238d

https://gyazo.com/f2ab7561231788eb005a194d617bd819

On nearly every event that I see you offer worse odds (even by a little your odds are worse) which decreases your clients potential winnings.
So why would he prefer you over some betting agent besides the anonymity factor?

If I'm reading your images correctly, the odds are almost identical 1.800 to 1.806 since the maximum wager at the other place is €215. The maximum bet at Bitcoin-Betting is twice that amount. Philippines basketball is a small market. On major markets, the limits can be higher than that of Pinnacle. If you are unable to bet as much as you want to bet, there are 4 nodes. Each node may have a different maximum amount. You can switch nodes.

[Bitcoin-Betting-com]

@CoffeeSlipper64  thanks for pointing it out. It should be fixed.

@Haunebu  Match fixing is a very serious problem in the Sport Betting Industry. Without the invite system, Bitcoin Betting would be the dream of every criminal out there:  no personal data collected, no confiscation of funds possible, unlimited number of accounts to hide the activity can be easily created. Unlike with the other exchanges you mentioned, there is no KYC on our platform that would pose as some kind of entry barrier for bad actors.  
 
If you think about it, other Blockchains are also invite-only.  You can only use Bitcoin, if someone sends you Bitcoin first.  Just try to find one existing user, who is willing to send you an invite code. It's a very low price to pay to make the platform safer for everyone.

@Fivestar4everMVP   We recommend RBTC (on Rootstock - a Bitcoin Sidechain) as the main currency for betting.  So it has all the advantages of DeFi combined with the stability of Bitcoin.

@duanedibley  Yes, an API is all there is. Please check https://github.com/Bitcoin-Betting-Official.

[CoffeeSipper64]

@CoffeeSlipper64  thanks for pointing it out. It should be fixed.

@Haunebu  Match fixing is a very serious problem in the Sport Betting Industry. Without the invite system, Bitcoin Betting would be the dream of every criminal out there:  no personal data collected, no confiscation of funds possible, unlimited number of accounts to hide the activity can be easily created. Unlike with the other exchanges you mentioned, there is no KYC on our platform that would pose as some kind of entry barrier for bad actors.  
 
If you think about it, other Blockchains are also invite-only.  You can only use Bitcoin, if someone sends you Bitcoin first.  Just try to find one existing user, who is willing to send you an invite code. It's a very low price to pay to make the platform safer for everyone.

@Fivestar4everMVP   We recommend RBTC (on Rootstock - a Bitcoin Sidechain) as the main currency for betting.  So it has all the advantages of DeFi combined with the stability of Bitcoin.

@duanedibley  Yes, an API is all there is. Please check https://github.com/Bitcoin-Betting-Official.

You are right regarding the liquidity , I apologize for saying mistakenly that you offer less limits that the agents.
It seems like you are now offering what pinnacle.com is offering as far as maxbets are concerned.

But will this limit be reduced to some "sharp" or "winning player" if they use Bitcoin-Betting?

As far as why the odds are lower I suppose you provide some extra vig on the odds offered by the Asians so you can make a profit  too?I am not sure as to why the reason is but if you tell me that it "should be fixed soon" then I am hoping to see it.

I am considering giving a try to your site.

Could you explain (once again if you have already done so) how am I supposed to get this "invite-only" in order to test the platform myself?

[Bitcoin-Betting-com]

The odds should be already the same as with your broker.   No limitation of players is taking place on our end. There is only a very small commission on the winnings of less than 0.25% - depending on your VIP level.  You can send us a DM here or on X or via email at  info@bitcoin-betting.com  to get an Invite-Code or fill out the form on https://bitcoin-betting.com

[3kpk3]

The odds should be already the same as with your broker.   No limitation of players is taking place on our end. There is only a very small commission on the winnings of less than 0.25% - depending on your VIP level.  You can send us a DM here or on X or via email at  info@bitcoin-betting.com  to get an Invite-Code or fill out the form on https://bitcoin-betting.com

I get the reasoning behind the whole invite system, but your team needs to understand that most punters get turned away by stuff like this thanks to which y'all are losing so many potential customers because of this restriction.

Also, connecting to my metamask wallet isn't as seamless as with sites like SX.BET and Polymarket. It's another big issue with your site.

[Web3betting]

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🔗 www.bitcoin-betting.com

[Web3betting]

The odds should be already the same as with your broker.   No limitation of players is taking place on our end. There is only a very small commission on the winnings of less than 0.25% - depending on your VIP level.  You can send us a DM here or on X or via email at  info@bitcoin-betting.com  to get an Invite-Code or fill out the form on https://bitcoin-betting.com

I get the reasoning behind the whole invite system, but your team needs to understand that most punters get turned away by stuff like this thanks to which y'all are losing so many potential customers because of this restriction.

Also, connecting to my metamask wallet isn't as seamless as with sites like SX.BET and Polymarket. It's another big issue with your site.

Are you talking PC or mobile? With mobile it's necessary to use the Metamask browser.

One method for an invite code mentioned above is clicking Bitcoin-Betting.com and filling this is in

[Saint-loup]

I get the reasoning behind the whole invite system, but your team needs to understand that most punters get turned away by stuff like this thanks to which y'all are losing so many potential customers because of this restriction.

Also, connecting to my metamask wallet isn't as seamless as with sites like SX.BET and Polymarket. It's another big issue with your site.

I agree with you and personally I don't really get what they are afraid of actually. From what I have been able to see, you need to create an account and to make deposits into this custodial account in order to be able to place lay or back bets (and to make withdrawals to get your funds). So it's not fully decentralized for me and funds could theoretically be locked in the same way as what Dexsport is accused of doing for example, if I understand how it works correctly. It's maybe due to being a betting exchange and not a classic sportsbook I guess but I don't think many "bad actors" fixing matches would risk to get their funds locked there while fully non-custodial sportsbooks exist to be honest.

[Bitcoin-Betting-com]

I get the reasoning behind the whole invite system, but your team needs to understand that most punters get turned away by stuff like this thanks to which y'all are losing so many potential customers because of this restriction.

Also, connecting to my metamask wallet isn't as seamless as with sites like SX.BET and Polymarket. It's another big issue with your site.

I agree with you and personally I don't really get what they are afraid of actually. From what I have been able to see, you need to create an account and to make deposits into this custodial account in order to be able to place lay or back bets (and to make withdrawals to get your funds). So it's not fully decentralized for me and funds could theoretically be locked in the same way as what Dexsport is accused of doing for example, if I understand how it works correctly. It's maybe due to being a betting exchange and not a classic sportsbook I guess but I don't think many "bad actors" fixing matches would risk to get their funds locked there while fully non-custodial sportsbooks exist to be honest.

Small correction: If you use RBTC or ETH as your main currency, there is no central custody of funds. All funds are held in a smart contract and can be redeemed anytime without any possibility for anyone to block the transaction.

You were probably referring to one of the three BTC <-> RBTC bridges that are integrated into the dApp.  One of them is for - convenience purposes - not fully trustless,  but only for the time it takes to reach one confirmation.  If you don't like this, there are two other options.

[Haunebu]

I agree with you and personally I don't really get what they are afraid of actually. From what I have been able to see, you need to create an account and to make deposits into this custodial account in order to be able to place lay or back bets (and to make withdrawals to get your funds). So it's not fully decentralized for me and funds could theoretically be locked in the same way as what Dexsport is accused of doing for example, if I understand how it works correctly. It's maybe due to being a betting exchange and not a classic sportsbook I guess but I don't think many "bad actors" fixing matches would risk to get their funds locked there while fully non-custodial sportsbooks exist to be honest.

This is a great point. I guess they are scared after the whole Fairlay scandal that took place recently where match fixing was involved which is why they are trying desperately to avoid such situations in the future.

Problem is that such bad actors usually find alternate ways to exploit them. These restrictions are just alienating potential customers if you ask me.

[Web3betting]

🔥💰 Place Your Winning Bets with Bitcoin-Betting.com! 🏆⚽🎲 Bet Smarter, Win Bigger with the Best Odds! 💎🚀

[AmoreJaz]

I agree with you and personally I don't really get what they are afraid of actually. From what I have been able to see, you need to create an account and to make deposits into this custodial account in order to be able to place lay or back bets (and to make withdrawals to get your funds). So it's not fully decentralized for me and funds could theoretically be locked in the same way as what Dexsport is accused of doing for example, if I understand how it works correctly. It's maybe due to being a betting exchange and not a classic sportsbook I guess but I don't think many "bad actors" fixing matches would risk to get their funds locked there while fully non-custodial sportsbooks exist to be honest.

This is a great point. I guess they are scared after the whole Fairlay scandal that took place recently where match fixing was involved which is why they are trying desperately to avoid such situations in the future.

Problem is that such bad actors usually find alternate ways to exploit them. These restrictions are just alienating potential customers if you ask me.

If somehow they have upperhand with your account, I would say, they are not totally decentralized in nature. They may be promoting as decentralized, but if you are a crypto user, you would know how decentralized platforms really operate. Anyway, it is up to the player whether he will play in this kind of payment method or not. But for me, I still prefer to play in a known reputable site where I am a user for years already. It depends on the player's choice though.

[Web3betting]

I agree with you and personally I don't really get what they are afraid of actually. From what I have been able to see, you need to create an account and to make deposits into this custodial account in order to be able to place lay or back bets (and to make withdrawals to get your funds). So it's not fully decentralized for me and funds could theoretically be locked in the same way as what Dexsport is accused of doing for example, if I understand how it works correctly. It's maybe due to being a betting exchange and not a classic sportsbook I guess but I don't think many "bad actors" fixing matches would risk to get their funds locked there while fully non-custodial sportsbooks exist to be honest.

This is a great point. I guess they are scared after the whole Fairlay scandal that took place recently where match fixing was involved which is why they are trying desperately to avoid such situations in the future.

Problem is that such bad actors usually find alternate ways to exploit them. These restrictions are just alienating potential customers if you ask me.

If somehow they have upperhand with your account, I would say, they are not totally decentralized in nature. They may be promoting as decentralized, but if you are a crypto user, you would know how decentralized platforms really operate. Anyway, it is up to the player whether he will play in this kind of payment method or not. But for me, I still prefer to play in a known reputable site where I am a user for years already. It depends on the player's choice though.

We may be the only one that's decentralized. I don't think that others run nodes or are governed by a DAO.

Bitcoin Betting

Introduction

Bitcoin Betting is a decentralized P2P Prediction Market and Betting Exchange consisting of a vast network of nodes. It utilizes its custom-tailored Decentralized Ledger based on the concept of Directed Acyclic Graphs specifically designed to match the needs of a fast, secure and efficient decentralized platform for processing millions of markets and hundreds of millions of orders every day.


Funding and supported currencies

Supported currencies for most markets on the platform are currently Ethereum and RBTC - Bitcoin bridged to the Rootstock Chain. Deposits and withdrawals happen via Bridges - Smart Contracts on the Ethereum Blockchain and Rootstock Blockchain that safeguard your funds in a trustless manner. Deposits and withdrawals will usually take less than 30 seconds. Thus no central party is holding any customer funds, instead all are securely held in the Smart Contract, which is secured against any known attack vector.



User Interfaces

The main user interface to access the platform is the DeFi-App https://app-bitcoin--betting-com.ipns.dweb.link. It is a static site (hosted on IPFS) that runs client-side Javascript code in the browser to interact directly with one of the selected nodes.
Furthermore standalone-applications should become available for anyone with custom needs.


Mobile Support

It is recommended to use the App MetaMask or TrustWallet on all mobile devices to safeguard one's private keys and use their browser to be able to sign requests easily. User experience with regular browsers and other wallets can be frustrating on certain devices.


No Personal Data Collection

Bitcoin Betting is accessible to anyone. No personal data is ever collected. Not even names or email addresses. The identity management is entirely handled by your wallet. Any transaction that is submitted to the ledger must be signed by that wallet.


Privacy & Block Explorers

All transactions on Bitcoin Betting are public and accessible via so called "Block Explorers". A current very simple alpha version is integrated into each node and can be found for example under https://node928.info:1443/, https://bitcoin-betting.org:1443/ or https://node82.sytes.net:1443

It is recommended to not save any personal data in the ledger. Bitcoin Betting is thus not suitable for money laundering or other criminal activities as all transactions are easily traceable.


Getting Access and Referral Bonus System

The developers of the protocol are aware, that having an completely decentralized platform for any kind of market open to everyone without entry restrictions may lead to severe negative external effects. Thus the platform is invite-only. Having an Invite-Only-Platform shall maintain a high quality user base and keep out bad actors.

New accounts can only be created by existing accounts. This can be done directly by issuing an arbitrary Invite Code. Once you have an account, deposits can be made by passing your User Id to the deposit function of the Ethereum Smart Contract.

If bad actors enter the platform anyway, the issuer of the invite has a certain period, in which he can revoke any invite and optionally all their referrals. After the revoke request is initiated, the affected account can only withdraw funds but not place any new orders.

Referrers of multiple bad actors may also be banned. Thus it is recommended to only invite new users that are trustworthy.

Referring a new user will be rewarded with a 10% share of all generated commissions by that user and of all subordinate referrals of that user.


Commission

For any market settlement, a small commission is collected. The commission is always set by the creator of a market. It is recommended that the base commission (excluding VIP reduction) is
not higher than 0.25% for markets, that settle automatically and
not higher than 2% for markets that have to be settled manually.
For binary markets, commissions are only collected on wins.


VIP Model
Users can obtain a VIP Status from Level 1 to 10. Among other benefits, a user can enjoy lower commissions with a higher VIP status. The commission reductions are as follows:

VIP 1: 2%
VIP 2: 5%
VIP 3: 10%
VIP 4: 15%
VIP 5: 20%
VIP 6: 30%
VIP 7: 40%
VIP 8: 45%
VIP 9: 54%
VIP 10: 60%
The VIP Status is determined based on the VIP points. VIP points decay by 5% each week and can be earned by paying commission on the platform.


Getting in touch

The platform is fully governed by the Bitcoin Betting DAO. All protocol and UI changes are decided by the DAO. Furthermore the DAO will receive all commissions that are ever collected. Proposals can be initiated via:

https://app.aragon.org/#/daos/ethereum/bitcoin-betting.dao.eth/dashboard

Any bug report or feature proposal that is accepted by the DAO will usually be rewarded directly by sending WBTC to the Ethereum address of the initiator of the proposal.

A governance forum is planned, in the meantime matters can be discussed in the chat on:

https://app.bitcoin-betting.com

New Proposals and updates from the DAO will also be published on:

https://x.com/_bitcoinbetting


Ownership

It is also possible to trade ownership tokens of Bitcoin Betting: bbet tokens (Contract address 0x60b8b2bf009a90d3864068bff2c2cb37d86b12ec). There exist a maximum of 1 million bbet tokens that represent full ownership of all source code, IP, domains and funds associated with Bitcoin Betting excluding user funds.

These tokens can be traded on uniswap for example or P2P.


Running a Node

Anyone who wants to support the network is free to run their own node (please check Running a Node.md) and perform all transactions directly on that node, collect transaction / mining fees and more.


API
Please check the API documentation.md file for further details as well as the Javascript samples.

[Web3betting]

🏀🔥 Big matchups, big odds! Place your bets on your favorite teams and win big with Bitcoin! 💰

[Haunebu]

If somehow they have upperhand with your account, I would say, they are not totally decentralized in nature. They may be promoting as decentralized, but if you are a crypto user, you would know how decentralized platforms really operate. Anyway, it is up to the player whether he will play in this kind of payment method or not. But for me, I still prefer to play in a known reputable site where I am a user for years already. It depends on the player's choice though.

Am not really sure whether they are 100% decentralised or not, but that is a minor thing for me personally since stuff like simple registration system, zero withdrawal fees with many popular cryptocurrencies etc matter a whole lot more.

But for me, I still prefer to play in a known reputable site where I am a user for years already. It depends on the player's choice though.

What makes this site different from traditional sportsbooks is that you can lay bets here which is not easy to find in the crypto gambling world.