Quote from: rijaljun on May 15, 2019, 08:47:06 PM

Quote from: ykaralis on May 15, 2019, 08:30:43 PM

Quote from: MyRealName on May 14, 2019, 10:22:01 PM

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It seems you are missing an important point here. Kryptium betting houses do not require from their owners to be market makers. A Kryptium betting house is just a smart contract that registers and settles bets using event data from a specific oracle smart contract. The platform supports peer-to-peer betting, so its actually the users that decide the odds, not the house. Kryptium betting houses can make money (if they wish so) by applying a commission on winnings. In fact, thats one of the big advantages of Kryptium betting houses: their owners dont have to worry about odds.

Honestly, I can't clearly understand how it will work so I'm trying to read few explanations by people here and this is the most interesting part in my opinion, it gives more advantage for users than the house. But then how the team would get their commission?

It works similar to betting exchanges. In a betting exchange, you can place a bet and choose both the amount and the odds you want. Then its up to other players to match your bet that is, IF they agree with the odds you offered. The betting exchange takes a commission from the winnings.

Kryptium Team does not currently take any commission from other peoples Kryptium betting houses. However in version 2.0 we are planning to introduce a license fee which will be related to the profits of the betting house (the exact business model is still under construction). Kryptium Team will not be charging any license fee to betting houses with 0% commission.

If all this continues to sound strange, we suggest that you just download the app on your computer and give it a try. If you dont want to spend any ETH, you can switch τo the Ropsten test network and use test Ether to check out how it works.