Exbet.io - Bitcoin Betting Exchange

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gianni
Posts: 23
Joined: Fri Mar 09, 2018 3:40 pm

Dear all,

Today I discovered a new Bitcoin only betting exchange with a commission of 1%.

They opended their doors mid of october. Of course the liquidity is very poor at the moment as well as the offered markets.

On the plus side:
- possibilty to use an exchange in countries where betfair or other exchanges are not available
- 1% commission
- kyc process only when transactions (deposit and/or withdrawl) exeed an equivalent of US$ 2.500,-- per transaction
- available API
- no transaction limits
- no transaction costs

On the minus side:
- very poor liquidity
- limited amount of markets available (at least at the moment)
- Bet Angel not available (as well as no other third party trading tool)
- highly fluctuating exchange rate bitcoin to real money

I would be interested in your thoughts. What do you think in general about cryptocurrency betting exchanges. Do you think there is enough demand so they can become successful? Do you think they can be an additional opportunity for betfair users? ....

best regards,
gianni
User avatar
Smog_Trader
Posts: 14
Joined: Sat Jan 05, 2019 10:51 pm

I've seen this around and the liquidity is really low, as to be expected for a new exchange.

Personally I don't have any bitcoin, so to transfer some of my bank into bitcoin to then trade on an illiquid exchange isn't really enticing.

I think it's aimed at people already with bitcoin. I may be missing a trick here but surely they're already trading it on another platform? What, if any, is the incentive to move it into a sports/bitcoin amalgamation?

To create a new exchange and provide liquidity to compete with Betfair is hard enough without limiting the users who haven't got/don't want to get bitcoin.
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

The wild price fluctuations on BitCoin make any betting activity a non-starter IMHO. Commission to buy and sell kills it stone dead.

There are already quite a few betting exchange models out there, but no liquidity on any of them.
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