Re: Bookie - Sports Betting Exchange on the Blockchain Wants Your Input
OP, do you really need censorship resistance and go through the inefficiencies of the blockchain only to set up a sports betting exchange? What is the value proposition of this idea and what difference does it make if I use a regulated counterpart of your service that accepts Bitcoins and altcoins?
Hi Wind_FURY, good questions.
Some of the key reasons for us building Bookie on top of a blockchain (well, not any old blockchain, it's the Peerplays blockchain, which is built specifically for gaming and betting apps):
- Provably fair - All source code for Bookie will be available on Github. No secrets.
- Real-time transparency - All Bookie bets published on a public ledger in real-time. No more doubts or arguments about what bet was or was not made, what the stakes were, for how much, etc.
- Decentralization - assuming posters here see the benefits of a decentralized currency
... we think there are similar upsides to bringing decentralization to sports betting. And a betting exchange (P2P) is a great fit for decentralization, as opposed to a sportsbook/house model which is de facto centralized.
Regarding censorship-resistance in sports betting, this could be seen to have value for someone who finds themselves in a situation where such censorship is practiced.
Hope that answers your questions!