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Quote from: shadypepe on May 26, 2014, 03:16:32 PM

Step 3: sports betting via decentralised system that determines the odds

Everyone is talking about betting sport but this cannot be decentralized.

why not? it's basically an exchange with prices that determine the odds. house edge could be easily implemented, hardcoding of the results shouldn't be extremely difficult. or am i missing something?

from where do you get 100% reliable and 100% true results without any trust issues.

How does the software post the bets? How could this ever be automated? Take bets from a centralised site? Can be manipulated.

I am 99% sure that sportsbetting can't be added..

Casino games on the other hand. Easy

i'd like to hear one of the developers comment on this. the results would obviously be a problem, though a very similar one to the randomness problem that was solved via the ny lottery drawings. the community would agree on a source for the results and that would be kept until it goes down.
the rest in my view (posting the bets) could be achieved just like a decentralised exchange works.

Who sets the odds?

If you think sportsbetting can be added easily you are delusional.

There are so many probelms that come to mind. How are refunds ect handeled? How are bets handeled that get canceled because the house calculated the odds wrong?

i don't say it's easy, what i'm saying is it should be technically possible and achievable.

the odds would be set by a market, as i said just like the decentralised exchange works. betting is like trading a digital option or maybe a cfd.
i also see a lot of problems of different sizes, though nothing that's really making this impossible. no refunds obviously, does bitcoin allow for refunds if you got robbed?

again, i haven't had time to actually think through every aspect, so i'd be happy if someone proved me wrong, though nobody has so far.

Who can decide "team A won" and "team B lose" ? An admin ? Only manually ?

Very easy. API from authoritative website such as Yahoo.

who sets the odds?

And don't say market, we have no market, we don't have one. It must be decentralised and trustless...

Please, this is pointless. Obviously you either need a market or an individual who sets the odds. And yes there is gonna be a market as soon as 2 people make bets. The more people bet, the more "accurate" the odds are going to be. One could start with an auction type of system in order to avoid putting people at an advantage/disadvantage who bet early.

No there is not. You are thinking of a place where 2 people can bet AGAINSt each other. While is certainly possible to implement, (Rather easy, and already done on XCP) it has NOTHING to do with Chancecoin.

Alright, per definition can you not have a betting system without either p2p interaction or central authority. The question here is how far should CHA go, if the limit is p2p interaction then obviously you can't go far beyond dice games or roulette. The interesting part of the gambling world is in interaction with other players, though. So I'd say why not introduce interaction (at a later point probably, first things first)