Hi,
We just launched a few days ago and I've not made an announcement thread yet. As the site is peer-to-peer, you can bet any amount you like. There is no limit.
Thanks Matt.
However, that doesn't mean the bet is actually placed unless someone matches it, correct?
How do you tell what is available to "match" immediately so as to not have funds in limbo in case odds change?
How do you change the odds set on your offers?
No problem.
1. Your bet is not matched unless someone takes your action. To make up for the lost opportunity cost (in that you may not get action) BetXCP removes the need to trust a third party and reduces the commission taken significantly. At 0.5% commission, sports betting is almost a zero sum game. Losing sports bettors will lose less, those who break even will now win, and winners will see significantly increased winnings.
2. You can tell what is available to match by entering the feed address into Counterwallet. The process is:
a) Copy the bitcoin address of the bet you want to make from BetXCP
b) Open Counterwallet and go to the "make a bet section"
c) Paste the address in. Counterwallet will show open action on the other side of the bet at this time
3. You can change the odds in Counterwallet, however, the interface is not as smooth as I'd like. In the future, as liquidity increases, we'll integrate this directly into BetXCP to help improve the user experience. The way it works now, all lines are pulled from leading sportsbooks, then the vig is removed. This happens automatically, but this is a tool that does the calculation if you want to test it out yourself:
http://0vigcalc.150m.com/calc.htmThe point is that the lines set should be fairly fair for both sides as we pull from leading books and then remove the vig. The only issue is if a line shifts dramatically. In a case like that we will rebroadcast the line so that it's correct. The negative side is the action that remains open on the previous line will not be booked. Thus, we try not to update lines unless they move significantly.
