[ANN] Peerbet

#1

[center][size=14pt]Peerbet[/size]

Peerbet is no nonsense, simple sports betting site. [/center]

[center][size=18pt]https://peerchemist.github.io/Peerbet/[/size][/center]

[center]There is no backend, there is no database, there are no accounts, it is all hosted on github and executed from my personal Peerbox.[/center]

How it works:

Users place their bets by sending Peercoins to appropriate address. Each address now represent a pot. Among three pots per game only one can win as bets are for the regular time soccer game only (90 minutes + extra time). Soccer game can end with: home win, guest win or draw. The house (Peerbet) takes the Peercoins from both losing pots, deducts the 5% house fee and distributes the resulting balance proportionally to input to all the bettors in the winning pool. Users from the winning pot can expect the winning to be distributed within 16h after the regular time of the game has ended. Payment will be sent to the address of the largest input of the bet transaction. Bets are accepted as long as they are sent before the game starts. Bets that come too late into the game will be returned to sender after house deducts 1.01 Peercoin fee. There is no minimum or maximum bet size.

Users, be warned not to send Peercoins from the exchange as system depends on you using your wallet.

I will open-source the backend scripts after the cup ends.

FAQ:

  • What happens when there are bets for only one outcome?
  • The funds are returned to user.
  • What happens when there are bets for only two outcomes?
  • If both pots lose, house keeps the winnings. This incentives users to never leave a pot empty.
  • Will you continue the project after UEFA Euro 2016?
  • No. This is only for this Euro cup with intention of promoting Peercoin.
  • What will you do with profits?
  • I have already publicly promised that I will donate 40% of the profits to PeerKeeper project by @hrobeers. The rest of it will also be invested into Peercoin related projects.
1 Like
#2

Great initiative to get Peercoin in the spotlights again!

#3

Waiting impatiently for the details :wink:

#4

Cool stuff Peerchemist! 8)

Looking forward to PeerBet and getting my PPC flowing again

Best of luck to the rest of you :))

#5

[member=30983]peerchemist[/member]

Have you tried googling “peerbet”, it seems to already been taken.
Maybe it doesn’t really matter for your EURO 2016 betting campaign, but if you’d like to extend it’s usage that might become an issue.

#6

[quote=“hrobeers, post:5, topic:3932”][member=30983]peerchemist[/member]

Have you tried googling “peerbet”, it seems to already been taken.
Maybe it doesn’t really matter for your EURO 2016 betting campaign, but if you’d like to extend it’s usage that might become an issue.[/quote]

No I will not extend the project beyond EURO 2016. At least not in this form.

#7

Bump!

https://peerchemist.github.io/Peerbet/

There are some issues with the site, but issues are cosmetic. I belive it will be fixed by the weekend.

#8

I have advertised this below. Please support these ads…

#9

Hi Peerchemist,

I’ve read in the chat this is already briefly discussed but I’d like to give my advice.

When there is bet’s placed on only one outcome (e.g. France wins). I believe the funds should be refunded no matter who wins.
Otherwise nobody will place the first bet. Since when nobody places a counter bet, the first bet can only lose since there is nothing to win.
So when there is no counter bet, I believe the bet should be refunded (you might still take fee if you like).

Just my 2 cents.

#10

[quote=“hrobeers, post:9, topic:3932”]Hi Peerchemist,

I’ve read in the chat this is already briefly discussed but I’d like to give my advice.

When there is bet’s placed on only one outcome (e.g. France wins). I believe the funds should be refunded no matter who wins.
Otherwise nobody will place the first bet. Since when nobody places a counter bet, the first bet can only lose since there is nothing to win.
So when there is no counter bet, I believe the bet should be refunded (you might still take fee if you like).

Just my 2 cents.[/quote]

Your proposal works if there is only bet for 1 outcome, but when there a two I think what I’ve said in chat before (that house should keep the both pots) makes more sense as both pots had a chance to get the money from the losing pot. Anyway, it is foolish to leave 1 pot empty and risk not receiving any prize.

#11

I don’t think you understand my point.
Assume the following case.

3 people bet on France
0 people bet on Draw
0 people bet on Romania

This means that the people betting can either lose their money or get their money back minus a fee.
So loss of money is guaranteed.
Not good right?

I suggest that if nobody bets on either Draw or Romania, that the bets on France get refunded as their is no chance on winning anything.

#12

[quote=“hrobeers, post:11, topic:3932”]I don’t think you understand my point.
Assume the following case.

3 people bet on France
0 people bet on Draw
0 people bet on Romania

This means that the people betting can either lose their money or get their money back minus a fee.
So loss of money is guaranteed.
Not good right?

I suggest that if nobody bets on either Draw or Romania, that the bets on France get refunded as their is no chance on winning anything.[/quote]

That is what I’ve wrote above and in new FAQ section in the OP. :smiley:

#13

Ah perfect! didn’t see that.

Will place some bets today :wink:

#14

Update!

  • Solved issues with blockchain explorer API.
  • The page now shows balances and number of bets per pot.
#15

This forum can seem pretty eurocentric at times. I know you all love soccer, but Copa America Centenario is going on! This is the first time ever in which the best of North America and South America compete. It also takes place in the United States upping the interest.

Would you be able to extend PeerBet to the Copa America knockout stage?

Or am I the only Peercoiner interested in Copa America just as much as the Euros?

#16

[quote=“kschneezy, post:15, topic:3932”]This forum can seem pretty eurocentric at times. I know you all love soccer, but Copa America Centenario is going on! This is the first time ever in which the best of North America and South America compete. It also takes place in the United States upping the interest.

Would you be able to extend PeerBet to the Copa America knockout stage?

Or am I the only Peercoiner interested in Copa America just as much as the Euros?[/quote]

You think there will be interest in Copa America?

#17

I will not be able to issue payments tonight, I will do that first thing in the morning. Sorry for delay, but I am just not able to do it after the game. I will publish the winners though. Due to events like this I will extend the possible time of payouts to 16h so I can fit sleep-work-wife cycle in between game and payouts.

#18

France - Romania (2:1)

total profit = 36.100000 PPC

winners (txids) = (['1ba3de8e48df8ee9c2184a714a28569e64c19573aa0aedac429430ba9bb1257c', 'aedeaf56f5488cfeda9e82aef7954ea950faa2bc9c0006152f1daaac28b43fd9', '78a285f0d0d62fbb9f1b148b9f61ca82edbe0fd859a7e5eca7427caf091d9471', '96a3bb61719b9e17dc45eb547215cede11af77fb60c456e21478028a85e240b3', 'aab3dc3a1ab57398b50d1dbfba7ed267e4896e7579fc071e3a9e245149a1e78a'])

Once again sorry for delay, I will distribute first thing in the morning.

#19

Payouts for game “France-Romania” where winners have placed their money on France have been sent:

txids = ['26cba3bc8dde40310650f2dfd3e0c560b874329d672735d7aaab8d5d3a789a2b', '16c5d9b060aaea9e4797d0bd5209c32484e634dd39f881d96099d566c80f0ed0', '9f62b22e4534332ec14b40abe3e9a6c1d553bb10dea4e392dd14a9caa9915362', '484e8cdc2a4278c10efc85dab052d27da25b731d491fd327daca86feba4e0494', 'ee64533504e6cffacb8170e6bdf633aa5327d20dce40cb1e7377fc6becf58c16', '008a43c13b0259f260f3041fe428a78e20fa0fbd47e7b53a80f05bf326f4a559']

#20

Albania - Switzerland game has ended with Switzerland win.

[code]Profit:
{‘profit’: 12.5), ’ profit - house_fee’: 11.875}

Winners:

04ef2a53b785aa34190befce5ecbfb4788077fce64738ab90ac018ef5760fc68
8ab92976154732c2a3b79a8c5633b2d97d21dc9331ac3f66c41b9ade39bf6f36[/code]

I hope I will do the payout in several hours. If not, please don’t mind me delaying until tomorrow. I am very busy this weekend. Do not worry, your funds are safe and system works as expected.