Jed came into the Telegram today so I saved some of the Content for people who may have questions about the new Dbet 2.0 changes. DBET Jedidiah, [10.08.18 03:08]
I will be scrolling through looking to address some questions that have been asked. If you have a question feel free to post it in case I miss it.
User, [10.08.18 03:10]
I think there’s some curiosity to how house backing will work game by game. Is the sportsbook all one house that anyone can opt in to? Same with casino and table games? What about individual sports matches?
DBET Jedidiah, [10.08.18 03:17] [In reply to User]
The sportsbook is not one house, you can create a sportsbook and provide staking where any one can bet any game against your staking and you can set the max bet or you can publish specific games you would like to take action on more of a p2p wager.
User, [10.08.18 03:13]
Also curious to how we can get verifiable results on the more unusual user-created wagers that can be created.
DBET Jedidiah, [10.08.18 03:19] [In reply to User]
For these odd types of bets we will use either an agreed upon 3rd party as the "referee" and we are looking into Oracles that can are trusted 3rd party community members that verify results.
DBET Jedidiah, [10.08.18 03:14] [In reply to User]
The way the minimum staking amount for a game will work will be based on the max bet and therefore max payout so with this structure you'll have enough staked to have an extended "bankroll". A single game will not necessarily make less than the casino as a whole as each game has different RTP. If you were staking a single game with a lower RTP and a higher house edge it is very likely you would make more than the casino as a whole. If you want to diversify across multiple games to have more balanced staking you can, you can break it up across multiple tables of the same game you can diversify it however you would like.
User, [10.08.18 03:21] [In reply to DBET Jedidiah]
So in this case we can't just allocate a % to general DBET sportsbook. We'd each need to create our own sportsbooks and decide what we want to offer and set our limits etc.?
User, [10.08.18 03:25] [In reply to DBET Jedidiah]
Let me know if this is correct- if I want to back a particular sports event, say the super bowl, it will be me and only me who backs the bets for my own house? Naturally for a big game lots of people are going to want to participate- and as a result will there may be thousands of unique houses all trying to take the same bets? Sorry trying to get my head around the new system.
DBET Jedidiah, [10.08.18 03:26] [In reply to User]
There will be a general "skin" of a sportsbook with everything loaded and ready to go for you that you can use and set a staking amount for or you can customize only offering specific leagues or sports or games.
User, [10.08.18 03:28] [In reply to DBET Jedidiah]
Then it will essentially be thousands of individual sportsbooks within the system and it would be up to me to drive traffic to my own book or hope someone comes to mine out of the list?
DBET Jedidiah, [10.08.18 03:29] [In reply to User]
Correct and there should be thousands of people looking to make bets on a game like this. Remember each house will only take so much action so as bets are made houses will start to become unavailable and less and less options for each person.
DBET Jedidiah, [10.08.18 03:30] [In reply to User]
That is correct. And you can offer lines that are enticing, rewards programs that are enticing you can set it up however you would like. Keep in mind our goal is to have tens of thousands over time, how many houses and DBETs will be staking at that point and how many will be needed.
User, [10.08.18 03:33] [In reply to DBET Jedidiah]
Okay, then next up would be how that would look, how books would be prioritized, etc. What's the appeal to the masses in regards to sports when they can simply go to another site and bet without having to sort through thousands of houses looking for the best odds etc.
DBET Jedidiah, [10.08.18 03:34]
There will be simple ways to search for lines and available houses.
DBET Jedidiah, [10.08.18 03:34]
Users will see important info with a quick search seeing which lines are available for that game, what the min and max bets are, what the available staking of house is etc
User, [10.08.18 03:35]
K got it. I get that this is necessary to avoid the security label, but is there a way to avoid that kind of redundancy on the potentially thousands of houses for the same match and to automatically distribute between houses? Example- hypothetically even though technically there may be thousands of redundant houses offering the same odds, couldn’t there be a way to split the bets automatically between them? Like if there’s 1,000 houses takin bets on a particular game, and someone bets 10,000, could there be a contract that splits that to 10 per house and still be legal?
DBET Jedidiah, [10.08.18 03:38] [In reply to User]
Andrew this is a very interesting thought and I will look into it. I am not sure of the technical requirements or legal/ regulatory concerns but it is again a very interestign thought and I will explore it more. If possible maybe people could have the option of going into this diversified model or operating independantly which could be a good feature to offer. Thanks!
DBET Jedidiah, [10.08.18 03:43] [In reply to User]
You can just take our fully built out sportsbook, stake it and set limits put 20% of your staking behind it and split up the other 80% over other games
DBET Jedidiah, [10.08.18 03:46]
LAToken listing is huge. Not sure if you are aware but Cryptopia is 88 currently in 24 exchange trading volume, Kucoin is 57 and LAToken is 49.
DBET Jedidiah, [10.08.18 03:46]
This would have never happened without the rebrand.
User [10.08.18 03:48] [In reply to DBET Jedidiah]
I think this is the biggest struggle most of us have right now. One backer per house. So if I stake in the general sports book, how is that automatically allocated to me? Because it sounds like the general pool of the original idea.
DBET Jedidiah, [10.08.18 03:53] [In reply to User]
So the fully built out sportsbook is essentially just a skin of a sportsbook but has everyting loaded for you so you do not have to do anything if you do not wish to. You then stake the sportsbook you created with the skin and now you can take bets from people.
User, [10.08.18 03:54]
I'm guessing the team will release some "how to" videos of this for further clarification as well. Ease of use is important.
DBET Jedidiah, [10.08.18 03:54] [In reply to User]
Absolutely we will!
DBET Jedidiah, [10.08.18 03:54]
May be you have friends family etc that bet on sports you can drive them all there and we will be driving a marketing machine prodcuing as much user acquisition as we can to generate players for everyone.
DBET Jedidiah, [10.08.18 04:01] [In reply to User]
We are still doing everything we can to build the userbase as large as possible. At the beginning things may be slow, I think we all expected that with the old or new model, but once the users start coming in we are going to need 100's of tables and shortly after 1000's for each game.
DBET Jedidiah, [10.08.18 04:02]
How many DBET investors are there currently if every one of them created a table for every game there still would not be that many compared to a halfway decent user base
User, [10.08.18 04:04] [In reply to DBET Jedidiah]
Sure, but as small as it may have been you could lock up your coins and be assured of a % of the profit no matter how big or small your bag was. Now those with larger bags can eat up all the action in sports leaving the smaller houses with less chances at action and profit. I'm mostly speaking on the sports end here. I understand slots and tables it's a little different as your staking a session 1v1 customers but for sports it's much different.
DBET Jedidiah, [10.08.18 04:06] [In reply to User]
The average gambler is a pretty small gambler and those with smaller bags will attract them which is the majority and as they should because they should not put their entire staking bag at risk taking larger bets.
DBET Jedidiah, [10.08.18 04:06]
But let me look into the idea that came up earlier where rather than pooling the funds we split up the bets.
DBET Jedidiah, [10.08.18 04:07]
That may create an option for people to be in a pool of bet distribution so the ones that are concerned with it can go that route.
User, [10.08.18 04:07] [In reply to DBET Jedidiah]
What drives a smaller sports bettor to my house over someone with a larger bag? As long as they have smaller limits and can keep taking 100 or 1000s of those smaller bets I have no advantage
DBET Jedidiah, [10.08.18 04:09]
Many of the larger staked houses may have a min bet above the users preferred bet amount minimizing the proportion of big houses to small houses that are available to them
DBET Jedidiah, [10.08.18 04:10]
I'm not saying they will be drawn to you but the min and max bet amounts will impact what is available to the smaller bettors.
User, [10.08.18 04:11] [In reply to DBET Jedidiah]
But not likely as that would make them lose money. That's why every casino in Vegas has like $5 min bet on sports as well as every bookie I've met.
DBET Jedidiah, [10.08.18 04:11] [In reply to User]
Sure, I know many bookies that would never touch a $5 bet, it's not worth their time.
DBET Jedidiah, [10.08.18 04:13]
I do not think vacant tables is going to be an issue once the userbase has a chance to grow somewhat. When you look at how many DBET holders there are and how many will stake the house you're not talking about 10's of thousands of people
User, [10.08.18 04:13] [In reply to DBET Jedidiah]
But essentially every casino in Vegas will. And they have to handle every aspect of the transaction where as if your staking the software there is no added stress or time wasted by lower limits
DBET Jedidiah, [10.08.18 04:13]
Absolutely correct
DBET Jedidiah, [10.08.18 04:14]
I believe we will see houses with more than a $5 minimum bet.
DBET Jedidiah, [10.08.18 04:14] That is all I am saying.
User [10.08.18 04:14]
So there's really no conceivable reason why someone staking DBET would have a low minimum as they don't have to handle any part of the transaction correct?
DBET Jedidiah, [10.08.18 04:20]
I love the revolutionary concept of it all and I believe the space will change in this direction plus getting us out of the security conversations was a must. We need more liquidity to ever get to where we all want to go, from a trading standpoint, user adoption standpoint across the board it is so important. We already have a new listing and more in the works@
User, [10.08.18 04:50]
How will this affect the 5% lottery draw every 1/4?
User, [10.08.18 04:51]
Also how will the affect Decent-C for giving money back?
DBET Jedidiah, [10.08.18 04:52]
Doug lottery will be same as before 5% of all profits will go into the lottery and people will be able to earn up to 5 tickets based on their staking.
DBET Jedidiah, [10.08.18 04:52]
And this will not affect our plans or goals with Decent-C at all either. The plan is exactly as it has always been.
User, [10.08.18 04:55]
If multiple people are backing a slot machine, how is the selection of backer done for a session?
DBET Jedidiah, [10.08.18 04:59] [In reply to User]
BB the user will choose which slot machine they want to play based on available staked machines that are not in use by anyone else and offer the bet limits they want.
User, [10.08.18 05:01]
Okay let's be real I can't stay away. DBET please share with us how the new model effects poker if you can. In poker there is generally no stake just rake.
DBET Jedidiah, [10.08.18 05:03]
You're funny and I totally understand. So poker is a ways out on our radar right now. It is not a very profitable game and is challenging technically to do on the blockchain, there is a lot to figure out in order to decentralize it, dealing, RNG, banker, with our model rake as you mentioned, etc.
Doug User [10.08.18 05:04]
DBET are you able to elaborate on the nodes at all? Someone above mentioned nodes.
DBET Jedidiah, [10.08.18 05:07] [In reply to User]
There will be a rewards program that incentivizes people to lock up tokens similar to how a node works for adding value to the platform in a number of different ways.
User, [10.08.18 05:05] [In reply to DBET Jedidiah]
But if both you, me and Doug are staking machine, who would be selected?
DBET Jedidiah, [10.08.18 05:08] [In reply to User
We would be staking different machines potentially in different rooms so it would depend on which machine the user picked.
User, [10.08.18 05:09] [In reply to DBET Jedidiah]
Are you saying that the three of us can't stake the same machine?
DBET Jedidiah, [10.08.18 05:10]
Correct
DBET Jedidiah, [10.08.18 05:10]
That was one of the 2 reasons the old model was being classified as a security
User, [10.08.18 05:12]
But, do you mean machine as in - I enter a digital casino and see 20 slot machines or a machine as in I enter the casino and see 1 slot machine that runs various sessions
DBET Jedidiah, [10.08.18 05:14]
Yes you could see multiple of the same machine
DBET Jedidiah, [10.08.18 05:16]
At least intitally, we are exploring ideas and may do some A/ B testing and see which UX is most popular
DBET Jedidiah, [10.08.18 05:21]
Correct you would get profits from the specific machine you backed. Over the same dollar spend the machines would return the same but the motivators were putting the control more into the users hands and mostly to get us out of the security conversartion as we will need more liquidity in the future than what being a security can provide.
DBET Jedidiah, [10.08.18 05:21]
Correct regardless of denomination
DBET Jedidiah, [10.08.18 05:24]
When we started the company our lawyers told us the token was not a security but the house shares were but they were not the same thing and there were other companies Edgeless for example that was giving back 40% I believe of profits and were listed on Bittrex which was a US regulated exchange that supposedly could not list securities.
DBET Jedidiah, [10.08.18 05:26]
Crypto regulation evolved and everyone is tightening up in regards to securities. Bittrex got audited in November I believe of last year, Cryptopia was audited recently, exchnages going into Malta have to be audited before they can operate that they are not listing securities.
DBET Jedidiah, [10.08.18 05:26]
The landscape changed and we had to adapt.
User, [10.08.18 05:28] [In reply to DBET Jedidiah]
I like it. So with enough Dbets we can back some # of slots, some # of sports books, etc., if we want to.
DBET Jedidiah, [10.08.18 05:29]
Yes you could you could have some nickel slots some dollar slots some craps some roulette some blackjack and diversify your staking
DBET Jedidiah, [10.08.18 05:30]
I think it will be fun but again I'm from Vegas so I love casinos
User, [10.08.18 05:34]
Just got caught up...I am curious. When will we as designers see more template files like those for the slot machine?
DBET Jedidiah, [10.08.18 05:37] [In reply to User]
We are hyper focused on getting mainnet slots released right now but should be shortly after that most likely sportsbook would be next.
User, [10.08.18 05:46]
If I were to create a custom skin, would it then be available for everyone else to use? Or would there be licensing etc happening? How would this also affect custom games later down the line?
DBET Jedidiah, [10.08.18 05:48] [In reply to User]
You would license it to a room and then that room would be able to have it available to all the users in that room
User, [10.08.18 05:59]
Can you give us a quick break down on mass advertising plans? To bring huge numbers in? DBET
DBET Jedidiah, [10.08.18 06:09]
Sure a broad overview, we have a huge network of celebrities from poker pros to nba stars to djs to actors and actresses so utilizing that network where appropriate, targeted advertising into jurisdictions available to us in Latin America, Europe and Asia where futbol leagues will feature or brand on televised events, working diretcly with futbol clubs for sponsoships, working with the sportsbook rating forums and review sites to build a solid reputation in the traditional online casino world, targeted Google PPC and Facebook advertising, more speaking opportunites for me in both blockchain/ crypto and gaming conferences, starting associations that will not only work with regulators but will educate the masses as a group as well, adspace in appropriate publications, I could probably think of a few more but that is a nice quick breakdown of the mass approach we will take.
User, [10.08.18 06:41] [In reply to User]
that was one of my biggest concerns with the old system...the invariable dump that would come at the end of every quarter
User, [10.08.18 06:59]
Quick question regarding profits. Is the model still built at 95% profit to holder and 5% to lottery? How will DBET keep the lights on if they don’t have a percent take?
DBET Jedidiah, [10.08.18 07:01]
We have always said we will never keep more than 10% of gross profit to cover our costs and will cover the rest with our operating capital
User, [10.08.18 07:59]
there's no more staking in the house. Basically you can stake in all the games instead.
User, [10.08.18 08:22]
basically, you can stake all games if u want, which is same as staking in the house.
DBET Jedidiah, [10.08.18 08:32]
you nominate which games you would like to stake
User, [10.08.18 08:33]
So perhaps we can have a function to stake in all the games except the peer to peer ones?
DBET Jedidiah, [10.08.18 08:34]
The challenge is if we pool the funds together than we become a security again
User, [10.08.18 08:43]
Select all, copy ;)
DBET Jedidiah, [10.08.18 08:43]
Yes we can look at something simple like a select all for sure
DBET Jedidiah, [10.08.18 08:40]
no once we get into pooling things we are a security
User, [10.08.18 08:56]
yea, I recall the minimum you can stake is dictated by the min/max bet for each game
DBET Jedidiah, [10.08.18 08:56]
yes minimum staking requirements will be based on a low risk max bet max win ratio
