Author Topic: YBet : YES/NO bets on simple questions  (Read 4335 times)

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Offline YBetTopic starter

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YBet : YES/NO bets on simple questions
« on: January 17, 2018, 02:37:35 AM »

 8) Hello everyone

We are writing this thread to launch ,
a betting service where you can bet on YES/NO questions
with cryptocurrencies.

Example: Will Bitcoin exceed $20k before February 2018 ?
Place your bet on the answer you think is most likely ( YES or NO ).

No login nor registration required, totally anonymous!
You just need to choose you answer , the cryptocurrency you intend to use
and the wallet address where you want to receive your winning.
Then you will be asked to send a coin deposit to a specific address which we 
 link to your bet and your receiving address.

The wallets are not kept on our servers, but offline, so all your funds will be safe.
Anyway we also aim at keeping the minimum required bet amounts as low as possible,
so you don't need to commit important amounts to be able to play.
For altcoins like Litecoin, BTG and Dash, for example, the minimum bet is about half a
dollar at the current price, or a few bucks at most.
( For Bitcoin is another story, for the moment, until the network will fix the huge fee issues ).

====== ODDS ======

There is a winning calculator available to you on the site,
if you want a winning estimate before placing a bet.

For those interested, here i will outline how the calculation is done.

The winning multiplicator is calculated with a "Parimutuel" method,
i.e. odds are not fixed and decided by the betting house like in traditional bookies ( say, PaddyPower ), but they depend on :

- when you place the bet (if you place it earlier than others, you potentially win more )

- the amounts bet by the players who chose the same answer you chose ( they make your multiplicator go down )

- the amounts bet by the players who chose the opposite answer ( they make your multiplicator go up )

When the event question gets answered, the event gets resolved ,
and all the winners will share the total amount bet by the players at the opposing side.

The amount a particular winner will receive back is not only proportional to the amount he deposited,
but also to the 3 factors listed above.

If you want to dig more about the exact algorithm we use, see this FAQ:



From the Create Event section, you can propose a question to be published on the home page,
along with all the conditions that must be met in order for it to be resolved as YES or NO,
including external unbiased sources that are going to provide this information.

Example: for a trading-related event, indicate the exchange that should be used as a reference.


We are also about to create a TOR/I2P hidden service as a mirror of the site,
in order to be always online in some way, even if the website goes down or gets

UPDATE: we have added anonymous discussion/comment sections for each bet event

Let me know your thoughts or any issue you encounter with the service.

Thank you and keep up the good fun!
« Last Edit: January 24, 2018, 10:15:26 PM by YBet »
In Charlie we trust

Offline YBetTopic starter

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Re: YBet : YES/NO bets on simple questions
« Reply #1 on: January 24, 2018, 10:19:15 PM »
UPDATE: we have added anonymous discussion/comment section

We opened this thread just to have some feedback about YBet before we start promoting it.

Let us know if you like it and your thoughts,
thank you very much
In Charlie we trust


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