[PRE-ANN] CounterSports - The world's first distributed betting application

[countersports]

CounterSports – The world's first distributed betting application

For the first time it is now possible to perform Bitcoin-based betting in a decentralized fashion, meaning without the need of entrusting your funds in the hands of a third party – all wagers made using our application are held in escrow by a smart contract until the wager is settled.

Links:
Main page: countersports.com
Currently on testnet: test.countersports.com

Among the benefits:
Secrecy:
Users have complete anonymity when using our services.
 
Security:
Users' funds are kept safe at the protocol level – thanks to the use of Bitcoin 2.0 technologies, the users are not required to transfer their coins into the custody of any application, and there is no centralized party that holds and manages users funds (no Mt.gox etc').
 
Transparency:
Because the application works using the Bitcoin Blockchain, all of its actions are visible to anyone and can be retraced by anyone with great ease.
 
Reliability:
The Counterparty protocol, which is the Bitcoin 2.0 protocol in which CounterSports is implemented, is based on secured Bitcoin transactions, thus utilizes the Bitcoin network's highly secured and dependable features.
 
General Bitcoin benefits:
The use of Bitcoins holds numerous advantages over fiat currency (such as $, €, etc') - anonymity, independence, no inflation, cryptographic security, instant payments for any amount, and much more. Up until now, Bitcoin did not reach its full potential in existing large scale thriving industries, in which its special attributes gives it a distinctive edge and especially in the field of sport bets. The existence of a distributed and cryptographically secured system in which the operators of a betting application, or anyone else for that matter, have no ability to take / confiscate users funds, but can only decide which one of the participants is the winner of the pot is what distinguishes the CounterSports application from any and all other sport betting websites, whether Bitcoin-based or Fiat-based. Introducing the sport bets industry into the world of Bitcoin can elevate the Bitcoin economy to great new heights.
 
Better rates:
For any wager, there is a counter wager, commonly referred to as 'The House wager' or 'Lay'. In old fashioned betting websites and casinos the user plays against the house in the fixed unattractive rates determined by the 'House', and so the 'House' gains if and when the user looses. The CounterSports application synchronizes users' bets and allows users to choose their own rates and bet directly between users. There is no middleman, thus all arbitrage revenue is there for the users to profit.
* In order to kickstart the application, counter wagers will be made on behalf of the CounterSports application for bets that are- a. within the rates presented by the site as a non-organic rate (organic, meaning that a verified bet has been placed by a user); b. in lines where no rate-attractive, organic bets exist. This mechanism was set in place for a double purpose – both to allow users to know the real world rate for their wager and to ensure that the first attractive betters of every line will always have their offers matched for at least a portion of their wager.
 
Mobile friendly:
The CounterSports application was designed for both desktop computer, Smartphone and tablet users. More importantly, users that run android based devices can bet directly from their mobile phone using the well vetted, open source Electrum wallet (released November 5, 2011).
 
What wagers can I make?
How many times did you get to see a match and said to yourselves "I don't know who will win, but I know there will not be a tie"? In the CounterSports application you can choose to wager on the option that you think will happen and also for the opposite option, meaning everything but the specified result. For the aforementioned case, it is possible to place a bet that will award you with the pot in case of a draw (placing this kind of bet is called 'back', meaning that you are 'backing' the possibility of a draw),  or alternatively, you could place a bet that will award you with the pot in all cases except the draw, which means that it does not matter which team wins, as long as the result is not a draw, you will take the pot (placing this kind of bet is called 'lay', meaning that you are 'laying' an opposition to the possibility of a draw).
The CounterSports application currently receives matches from all the major soccer leagues, including the 2014 world cup in Brazil. At this time we analyze results from 30 different leagues from 20 countries.
During the summer, the main event will be the 2014 world cup in Brazil, and when soccer regular seasons will resume, matches from the top European soccer leagues will be available: Champions League, English premier league, Bundesliga (Germany), La Liga (Spain), Serie A (Italy) and much, much more.
Incorporating additional lines, sports and countries is already in play.
 
How to make a bet?
1.       Browse through the various lines available on the CounterSports application until you find one that you want your make your bet on.
2.       Insert the details of the bet that you want to make (your betting address, wager amount and your desired rate. All other details are preconfigured to match the bet type which you have selected, but those could also be changed from the bet making page).
3.       Paste the line of text corresponding to your wallet type (Each supported wallet type has its own line of text to be pasted in your local wallet) and hit send.
Done!
Your bet has now been placed and can be matched by other users from the Bitcoin network.
 
Since the CounterSports application is based on the Bitcoin blockchain, and implemented using the Counterparty protocol, in order to use it, one must acquire some Bitcoins and as many XCP as one would like to place as wagers. All wagers, counter wagers and pots are denominated in the form of XCP, which is the native currency of the Counterparty protocol. It is possible to acquire XCP through a traditional exchange service, such as http://bter.com/trade/xcp_btc or https://www.poloniex.com/exchange/btc_xcp, and it could also be purchased using Counterparty's built-in decentralized exchange.
Placing bets, buy/sell orders on the decentralized exchange, and many other options are made easy through a free service called CounterWallet- a user friendly online wallet, built by the Counterparty protocol original developers. It is important to point out that we have great appreciation towards the Counterparty core developers but we are not them, we are independent developers.
However, in order to reach the great mass of Bitcoin holders, and to make it simple for users who have never used a digital currency, and as is clear from the above example, a bet could just as easily be made from a standard Bitcoin-qt or electrum wallet.
 
Screenshots:
https://i.imgur.com/50d0usp.png
Brazil 2014 World Cup General bets

https://i.imgur.com/A8qmcVq.png
Example match page

https://i.imgur.com/WKMVwt1.png
Example league page

https://i.imgur.com/nZhAkfO.png
Example market page

Some of our future plans:
1.       Incorporating additional sports.
2.       Incorporating global events.
3.       Expanding the betting possibilities for each single event.
4.       Binary options.
5.       CounterWallet seamless integration.
6.       Issuance of the CounterSports application on top of the Counterparty protocol.

Links:
Main page: countersports.com
Currently on testnet: test.countersports.com

[1715425728]

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[nakaone]

today too tired but maybe let us give it a try for the upcoming cl final on saturday !

great to see the counterparty protocol in use

[countersports]

Hi nakaone,

The application is currently configured to work on testnet.

It is possible to start betting on the champions league final and many other matches right now to become familiar with the application before wagering real coins.

Testnet bitcoins are available for free through the following sites:
faucet.xeno-genesis.com
tpfaucet.appspot.com

If you find yourself in need of test XCP or test BTC PM us with your address and we will provide you with some.

[romerun]

Wow ! Looking real good

[frozen123]

Nice.

[killer_csky]

wow~~~ BIG NICE

[Anotheranonlol]

Fantastic work. Provably fair, distributed gambling. we are slowly coming to the future !
Definitely keeping an eye out on this.

Although this is fairly technical, and on testnet at this stage, a post in the Gambling section would be appropriate. After all, it is the primary target audience.

[supersuber]

I'm here!

[xx63245613]

a bet?good,i like this

[Kooness]

Well, I can see that you have done a real website.
So I will join this project.
Good luck!

[520Bit]

Great to see this application, you have done a great work.

[Janitor]

Well done and good luck!

I have a question: if broadcasts are created by the community, is that to say there is no revenue model (free application, except for feed fees)?

I look forward to using the site.

[countersports]

Well done and good luck!

I have a question: if broadcast bets are created by the community, is that to say there is no revenue model (free application, except for feed fees)?

I look forward to using the site.

Thank you for your support.

For clarity's sake we should first point out that Bets are made by the community, not broadcasts, which are made by us.

Our revenue model is based on feed fees, which are 1%. We would like users to bet amongst themselves in an open and competitive market.

[Janitor]

Well done and good luck!

I have a question: if broadcast bets are created by the community, is that to say there is no revenue model (free application, except for feed fees)?

I look forward to using the site.

Thank you for your support.

For clarity's sake we should first point out that Bets are made by the community, not broadcasts, which are made by us.

Our revenue model is based on feed fees, which are 1%. We would like users to bet amongst themselves in an open and competitive market.

Ah, okay, that makes sense, I probably missed that in excitement.
Thank you.

[varunsin]

betting system, lets see where this goes

[xzhybbs]

Great, like this design very much, this world cup will be even more exciting.

[countersports]

Wow ! Looking real good

Nice.

wow~~~ BIG NICE

Fantastic work. Provably fair, distributed gambling. we are slowly coming to the future !
Definitely keeping an eye out on this.

Although this is fairly technical, and on testnet at this stage, a post in the Gambling section would be appropriate. After all, it is the primary target audience.

I'm here!

a bet?good,i like this

Well, I can see that you have done a real website.
So I will join this project.
Good luck!

Great to see this application, you have done a great work.

Thank you all for your kind words.

It would be greatly appreciated if you would try the application out for yourself, match each others bets and push the system to its limits.

The best way for us to improve would be through your feedback. tell us if anything is confusing, hard to use, or if you have an offer for an improvement.

A great place to start would be wagering on the Champions league final here http://test.countersports.com/categories/main_page/Soccer/europe/Europe:%20Champions%20League%20-%20Play%20Offs.

[quasimodo]

I'm watching 

[Anotheranonlol]

where are you pulling broadcasts from?

[hill]

Fantastic work. Provably fair, distributed gambling.

[IamNotSure]

Fantastic ! I'l certainly lose some of my XCP there during the world cup

[Snail2]

Great stuff! I'll keep an eye on this. One question. What about the legal background? In most states gambling is strictly regulated I doubt that they will be happy with a distributed anonymous gambling solution.

[asnghost]

wow awesome development!! Looks great, I sure would give it a try!

[dreamboy]

I think I can make a fortune in this world pregnant

[wartywarlock]

Make MMA the next addition! This makes me wonder if the betting could be part of the blockchain itself.

[IamNotSure]

Make MMA the next addition! This makes me wonder if the betting could be part of the blockchain itself.

Counterparty/XCP is embedded into the blockchain, so you can more or less say that the bets will be enforced by bitcoin's PoW

Countersports - you should use the new XCP logo and not the old one, maybe you can contact XCP team for this.

[flis1986]

Great work guys !!

XCP is undoubtedly the greatest 2.0 currency.

[platorin]

Looks decent. Good luck!

[countersports]

Countersports - you should use the new XCP logo and not the old one, maybe you can contact XCP team for this.

Thank you for your feedback IamNotSure,

we will create our own logo soon enough.

[sumantso]

Fantastic ! I'l certainly lose some of my XCP there during the world cup

I will be losing with you

[killer_csky]

Wow ! Looking real good

Nice.

wow~~~ BIG NICE

Fantastic work. Provably fair, distributed gambling. we are slowly coming to the future !
Definitely keeping an eye out on this.

Although this is fairly technical, and on testnet at this stage, a post in the Gambling section would be appropriate. After all, it is the primary target audience.

I'm here!

a bet?good,i like this

Well, I can see that you have done a real website.
So I will join this project.
Good luck!

Great to see this application, you have done a great work.

Thank you all for your kind words.

It would be greatly appreciated if you would try the application out for yourself, match each others bets and push the system to its limits.

The best way for us to improve would be through your feedback. tell us if anything is confusing, hard to use, or if you have an offer for an improvement.

A great place to start would be wagering on the Champions league final here http://test.countersports.com/categories/main_page/Soccer/europe/Europe:%20Champions%20League%20-%20Play%20Offs.

OK, I will

[IamNotSure]

The best way for us to improve would be through your feedback. tell us if anything is confusing, hard to use, or if you have an offer for an improvement.

A great place to start would be wagering on the Champions league final here http://test.countersports.com/categories/main_page/Soccer/europe/Europe:%20Champions%20League%20-%20Play%20Offs.

I will too.

Isn't there a mistake though? You can't choose a draw as a result for the final...

[countersports]

The best way for us to improve would be through your feedback. tell us if anything is confusing, hard to use, or if you have an offer for an improvement.

A great place to start would be wagering on the Champions league final here http://test.countersports.com/categories/main_page/Soccer/europe/Europe:%20Champions%20League%20-%20Play%20Offs.

I will too.

Isn't there a mistake though? You can't choose a draw as a result for the final...

Thank you for your feedback.

In every match where extra time is possible, (that is, when the match is a part of a cup) there are seperate lines for "who will qualify" and "outcome after 90 minutes", in which a draw is an option. In this case, the line is for the "outcome after 90 minutes".

We will be including additional lines, including "Who Will Qualify" real soon.

We realize it is not clear for users and are at work to rectify the situation.

[wendy5]

is it a coin?or just a application?

[Anotheranonlol]

is it a coin?or just a application?

Countersports is an application built on top of CounterParty protocol. not a coin. (countersports is like a facebook to counterparty's http:// - it's built on top)
but actually it's more than a simple website.
you use XCP to bet. XCP is the 'coin' which is used by CounterParty protocol, much like BTC is the 'coin' used by Bitcoin protocol.

[deliciousowl]

Finally someone is making this! Thank you! But please make the logo lighter and larger, as well as the title text. It's too important for it to be so tiny.

I am a professional writer and I would be greatly interested in cooperating with you on your project. Please contact me on skype: cerem_uguz

[dance4x]

Looks pretty cool. I have a few questions.

1) How are the winners/losers established? Is there a data feed hosted on a centralized server that relays the results of matches?

2) Could this be forked to work with bitcoins instead of XCP?

3) Are there any fees involved with using the distributed betting exchange?

[countersports]

Looks pretty cool. I have a few questions.

1) How are the winners/losers established? Is there a data feed hosted on a centralized server that relays the results of matches?

2) Could this be forked to work with bitcoins instead of XCP?

3) Are there any fees involved with using the distributed betting exchange?

Thank you for your feedback and interest.

1) Bets are settled on the blockchain using a broadcast we provide, choosing the correct result out of options we display on the CounterSports application. Winners are awarded with their earnings automatically using bitcoin 2.0 protocol.

2) Counterparty is the first platform to enable this sort of bets and broadcasts on real world events. At this time, there is no "fork" that allows this functionality that uses BTC alone. However, XCP can be directly purchased with bitcoins, on Counterparty's built in decentralized exchange, or through centralized exchanges, to a standard bitcoin address.

3) Feed addresses collect a predeclared portion of the pot for the service. Like any other action made on the blockchain, bitcoin transaction fees are necessary in order for the transaction to go through.

We offer the opportunity to find out more for yourself, using testnet bitcoins on the CounterSports application.
If you need some test BTC or test XCP coins for getting to know the CounterSports application pm us your address and we will send you some.

[zjtwohaha]

why the test website is invalid now？

[countersports]

why the test website is invalid now？

Hi guys,

We are moving to a new domain and setting everything up http://testnet.xbet.io

More surprises are coming.

[sumantso]

why the test website is invalid now？

Hi guys,

We are moving to a new domain and setting everything up http://testnet.xbet.io

More surprises are coming.

Looks nice

You have to start promoting it aggressively.

[rdanneskjoldr]

Looks pretty cool. I have a few questions.

1) How are the winners/losers established? Is there a data feed hosted on a centralized server that relays the results of matches?

1) Bets are settled on the blockchain using a broadcast we provide, choosing the correct result out of options we display on the CounterSports application. Winners are awarded with their earnings automatically using bitcoin 2.0 protocol.

Does that answer the question??I think he meant to ask how do you get the result from the real life event. How do we know you can't make a mistake, accidentaly or maliciously?
Is it just done manually?

Anyway, it looks good!

[countersports]

Looks pretty cool. I have a few questions.

1) How are the winners/losers established? Is there a data feed hosted on a centralized server that relays the results of matches?

1) Bets are settled on the blockchain using a broadcast we provide, choosing the correct result out of options we display on the CounterSports application. Winners are awarded with their earnings automatically using bitcoin 2.0 protocol.

Does that answer the question??I think he meant to ask how do you get the result from the real life event. How do we know you can't make a mistake, accidentaly or maliciously?
Is it just done manually?

Anyway, it looks good!

Your question is an important one.

Regarding malicious tampering with the feed for our gain, an answer was posted by a user from the community, which we feel is well put:

Wow ! Countersports is greaaaaat !  I was waiting that from a long time

But who is behind ? Because we need to trust the feed issuer.

That looks like betfair without betfair, really good job
Who we need to trust? Yourself so you dont play or offer too small or big odds  If i have understand right how that working?

You have to trust the feed issuer. But he has nothing to win by rigging an outcome (maybe just a one time gain on a strong bet), because that would basically be the end of his business.

So basically yes, this is a nice step forward !

Regarding the possibility of a mistake:
We upload the results automatically. So far we have ran tests and did not encounter any mistakes.
In addition, to further scrutinize our results, and to make sure they are reliable, we have set up an intervention mechanism:
The results for each event are published 5 hours prior to the actual broadcast settling the bet on the blockchain, alongside a "report address" for filing appeals. Anyone can send 0.1 BTC to the report address and the broadcast settling the bet will be postponed until an admin manually approves the result. If a result that we were going to broadcast turns out to be false, the user that has notified us of the mistake will get his BTC back and an additional XCP bounty.

Furthermore, We sign broadcasts when we first publish the events online (before the event starts) from our main address, so users could be safe in the knowledge that we stand behind our word.

[hill]

Looks pretty cool. I have a few questions.

1) How are the winners/losers established? Is there a data feed hosted on a centralized server that relays the results of matches?

1) Bets are settled on the blockchain using a broadcast we provide, choosing the correct result out of options we display on the CounterSports application. Winners are awarded with their earnings automatically using bitcoin 2.0 protocol.

Does that answer the question??I think he meant to ask how do you get the result from the real life event. How do we know you can't make a mistake, accidentaly or maliciously?
Is it just done manually?

Anyway, it looks good!

Your question is an important one.

Regarding malicious tampering with the feed for our gain, an answer was posted by a user from the community, which we feel is well put:

Wow ! Countersports is greaaaaat !  I was waiting that from a long time

But who is behind ? Because we need to trust the feed issuer.

That looks like betfair without betfair, really good job
Who we need to trust? Yourself so you dont play or offer too small or big odds   If i have understand right how that working?

You have to trust the feed issuer. But he has nothing to win by rigging an outcome (maybe just a one time gain on a strong bet), because that would basically be the end of his business.

So basically yes, this is a nice step forward !

Regarding the possibility of a mistake:
We upload the results automatically. So far we have ran tests and did not encounter any mistakes.
In addition, to further scrutinize our results, and to make sure they are reliable, we have set up an intervention mechanism:
The results for each event are published 5 hours prior to the actual broadcast settling the bet on the blockchain, alongside a "report address" for filing appeals. Anyone can send 0.1 BTC to the report address and the broadcast settling the bet will be postponed until an admin manually approves the result. If a result that we were going to broadcast turns out to be false, the user that has notified us of the mistake will get his BTC back and an additional XCP bounty.

Furthermore, We sign broadcasts when we first publish the events online (before the event starts) from our main address, so users could be safe in the knowledge that we stand behind our word.

Good point! should attract more supporters to join in!

[rdanneskjoldr]

Looks pretty cool. I have a few questions.

1) How are the winners/losers established? Is there a data feed hosted on a centralized server that relays the results of matches?

1) Bets are settled on the blockchain using a broadcast we provide, choosing the correct result out of options we display on the CounterSports application. Winners are awarded with their earnings automatically using bitcoin 2.0 protocol.

Does that answer the question??I think he meant to ask how do you get the result from the real life event. How do we know you can't make a mistake, accidentaly or maliciously?
Is it just done manually?

Anyway, it looks good!

Your question is an important one.

Regarding malicious tampering with the feed for our gain, an answer was posted by a user from the community, which we feel is well put:

Wow ! Countersports is greaaaaat !  I was waiting that from a long time

But who is behind ? Because we need to trust the feed issuer.

That looks like betfair without betfair, really good job
Who we need to trust? Yourself so you dont play or offer too small or big odds  If i have understand right how that working?

You have to trust the feed issuer. But he has nothing to win by rigging an outcome (maybe just a one time gain on a strong bet), because that would basically be the end of his business.

So basically yes, this is a nice step forward !

Regarding the possibility of a mistake:
We upload the results automatically. So far we have ran tests and did not encounter any mistakes.
In addition, to further scrutinize our results, and to make sure they are reliable, we have set up an intervention mechanism:
The results for each event are published 5 hours prior to the actual broadcast settling the bet on the blockchain, alongside a "report address" for filing appeals. Anyone can send 0.1 BTC to the report address and the broadcast settling the bet will be postponed until an admin manually approves the result. If a result that we were going to broadcast turns out to be false, the user that has notified us of the mistake will get his BTC back and an additional XCP bounty.

Furthermore, We sign broadcasts when we first publish the events online (before the event starts) from our main address, so users could be safe in the knowledge that we stand behind our word.

The thing is, if this did move a lot of money, maybe betting on a big market and rigging the result so you win and run away could be an option. It needs to be more secure before it starts to have a high volume.
I didnt understand well your system. You publish the result, and stays there for 5 hours until users are paid?
Im not saying you would do anything wrong  ,but i find it as a weak point in the decentralized system.

[romerun]

the testnet.xbet.io is saying "undefined", when trying to compose a bet offer

[countersports]

the testnet.xbet.io is saying "undefined", when trying to compose a bet offer

Please send us a link to where you see the issue and we will take care of it immediately.