rongomaib
commented
7 years ago Some feedback would be lovely thank you. 👍
Open rongomaib opened 7 years ago
rongomaib
commented
7 years ago Some feedback would be lovely thank you. 👍
Joeri1324
commented
7 years ago Interesting idea.
rongomaib
commented
7 years ago @Joeri1324 There's some additional potential - being able to create a record of how many times you've been right about something in the past which would be fantastic for people who like to argue on the internet.
If you could bet 10 FUCKS with someone on a forum that you're going to be right that'd be fun. Or people in a chat room on twitch could bet on anything you wanted (assuming you had a trusted 3rd party arbiter)...
Joeri1324
commented
7 years ago I'm not that familiar with the district0x platform. How difficult would it be to implement this?
Joeri1324
commented
7 years ago @imdying
rongomaib
commented
7 years ago You'd need some custom contracts for each type of bet you'd like to make. I think what's stopping this from being made right now are the lack of any accepted oracles afaik.
Difficulty wise the betting is quite simple - right now there's nothing to stop you writing a smart contract to take a bet from various parties and have a third party be able to decide the winner of the bet after a certain time.
What needs to be made is a library/marketplace for bet types/modules contract scripts, a service for sharing bets, a method of tracking bet history and a interface for external oracles.
Once the 0xINFRA is up and running I can imagine this district being built in a month or so. After that the next step would be processing the proceeds from the bets to a decentralised charity org.
On 30 August 2017 at 23:00, Joeri Sleegers notifications@github.com wrote:
@imdying https://github.com/imdying
— You are receiving this because you were mentioned. Reply to this email directly, view it on GitHub https://github.com/district0x/district-proposals/issues/97#issuecomment-325990681, or mute the thread https://github.com/notifications/unsubscribe-auth/Adg2XTNUIv7ne2QU-i9OedMx2XifkvEMks5sdWQFgaJpZM4O7Z3q .
Bradymck
commented
4 years ago Hey @rongomaib
I'm not sure if you're aware but we recently launched a new bounty to migrate your proposals to the actual District Registry: https://registry.district0x.io/
We're replacing the old voting app with the registry. Let me know if you need help but I would love to see you migrate this over so you can claim your DNT.
It does take a 10,000 DNT submit to submit your proposal but this gives you an extra 2000 you can stake in the registry beyond the deposit amount.
Hit me up on Telegram or Discord if you need help or have questions.
Telegram: https://t.me/district0x/75217 Discord: https://discord.gg/P9RQejv
PS, please excuse the canned response. I am encouraging everyone here to start migrating so they can claim their 12000 DNT.
GoodBet
Purpose:
A marketplace district allowing anyone to easily bet on the outcome of an event. Any profit goes to charity (ideally chosen by EtherAid District).
Description:
A district for creating social betting smart contracts utilising the 0x protocol.
Outcome and the mechanism(s) behind the payout will be transparent as the smart contract code can be viewed by anyone at any time. Additionally, decentralization will mitigate risk caused by legal and regulatory restraints and differences between regions.
Why a district0x district?
We’d use the following core functionalities of the district 0x platform:
SWOT Analysis
Strengths:
Weaknesses:
the federal government deliberately excluded sports when they loosened online gambling rules in 2011. The reason, he said, is that sports depend on human action for the result — meaning there is an incentive to fix the results when there’s money on the outcome
Creating problem gamblers is unethical...
The highest prevalence of problem gambling was found among those who participated in spread betting (14.7%), fixed odds betting terminals (11.2%) and betting exchanges(9.8%).[63]
Opportunities:
Online betting and gambling is a huge market.
According to sports data analysts Sportradar, worldwide sports betting revenues are now worth anywhere between $700-billion and $1-trillion a year
2013 - Estimates of the size of the online gambling industry vary widely, from as low as $6 billion to as high as $100 billion. But even at the lower end, Mr. Grossman said, “that’s tens of billions of dollars that goes offshore.”
The global online gambling and betting market is expected to reach US$96.89 bn by the end of 2024. The market is projected to expand at a CAGR of 10.8% from 2016 to 2024. By the end of 2016, the global online gambling and betting market is expected to reach US$42.63 bn.
User analytics on total losses over time may help curb problem gamblers from losing their money or continuing to make bad bets. (Alice may change her betting behaviour if she can see that she had made bad bets 85% of the time).Profits from the district could go to charities and actually help people unlike traditional gambling. Creating a guilt-free experience.
Reduced friction allows a broader user base to participate in online betting. Moving away from “Online Casino” type betting may reduce the negative attitudes / stigma attached to the current system. Creating an atmosphere of it being a Gentleman's Wager between friends would be ideal.
People in arguments on the internet could put their money where their mouth is, so to speak, just by clicking a link.
There is the possibility to be a truly ethical system where all the profits of the system go to charities around the world. (decided by users and/or district stakeholders.)
Threats:
Government Regulation. Oracle Malfunctions. Spammers.
Oracles (Modules that externally verify data):
Oracles are added to the district when agreed upon by DNT district stakers.
Oracles could include stock prices, weather reports, trending new or any data agreed upon by the district stakeholders. [In the example of a football game, what/who would be the oracle? Obviously the game’s outcome would be the data source, but what/who actually tells the smart contract what happened?] [Possibly a webscraper that looks at reputable websites and looks for terms such as “dolphins win”. Or an official results page for the NFL. Or perhaps a group of anonymous task-rabbits who know nothing about the bet, but are paid to look up the results?!]
Oracles might not be limited to software solutions. A trusted-third party could be used to verify the outcomes of complex bets. Their reputation would be at stake. They would get a fee for their service. This could be expanded to include an “anonymous jury” type of oracle.
Scenario:
Alice thinks that the Dolphins will win the 2020 super bowl. Bob disagrees.
Bob bets Alice 1 ETH that they won’t win and texts her a link to a wager contract he has created.
If an existing super bowl wager contract wasn’t already available he could create his own by selecting wager type, oracles and outcome requirements.
He creates a contract to which both Alice and Bob can send 1 ETH (including the name of the Winning team in the data field). This ETH is locked up until a predetermined date (i.e. after the super bowl) and either Alice or Bob can send a 0 ETH transaction and the contract will check an oracle for the results of the super bowl. The correct guesser will be returned both inputs.
To keep this district ethical the district could limit maximum bets to $100 (maybe 1 ETH?) Sounds good to me - let the community decide?
Diagram showing smart contract mechanisms
Possible Issues & Risks
Does decentralization actually remove any of the regulatory issues? That is, does moving the betting service out of the country (out of any country) actually make this a more legally viable option?
Would this service support just private bets created by users, or large-scale global bets too?
I think a major question to answer here is “Why would I use this over what already exists?” (These are questions that I actually don’t know the answer to… I’m not shooting holes in the idea, just trying to bullet-test it.)
External References
Social Sports Betting Platform Favourit Raises $3.6 Million And Releases New iOS App
The State of the Social Games Industry: Gambling to Social Gaming, Social Gaming to Gambling
Co-Authored by rb + jackd (Slacknames)