Bitcoin Gambling with BetMoose
BetMoose: Bitcoin Gambling for Anything!
BetMoose allows users to wager on the outcome of events with Bitcoins. BetMoose allows wagers to be made for (most) any event. These range from the typical wagers, including: major league sports, presidential nominees, stocks values, market predictions, commodity pricing of gold. To the absurd wagers, such as: one about the future robot battle between USA and Japan, and one that allows gamblers to bet on the outcome in the Hammonds case. We couldn’t find any other sites that allow gambling on real-world events.
Users are not only allowed wager on bets but host their own wagers. Ex: Will the next US president be a female? BetMoose allows users to settle bets, intervening when necessary. Winners are rewarded dependent on a multiplier for when the bet was placed. Meaning, the earlier the bet was placed in relation to when the outcome happens, the higher the payout.
BetMoose was created in 2014, accumulating reasonable traffic volume since then. Currently, BetMoose is in late beta, all site functions are fully functional. Some of Betmoose’s competitor’s in the bitcoin gambling/bitcoin predicting are: Augur (in alpha testing), Fairlay, and Predictious. These platforms move responsibility away from the crowd towards the service operators, in an ebay approach rather than an OpenBazaar style service. With a wise bet placed correctly, there is an opportunity to earn handsome returns on your bitcoin. Considering all this, we decided to sign up and place some bets.
How Does Bitcoin Gambling on BetMoose Work?
BetMoose registration is required only for hosting bets, and requires no personal information. Hence, bets can be anonymous, keeping in true bitcoiner fashion. Placing an anonymous bet is simple, select the wager event, then send the bet amount to a BetMoose bitcoin addressed supplied. Winning bets will returned to the address from where they were sent from.
A full account affords a few extra privileges such as the ability to host bets and participate in the referral program. Depositing bitcoin into the account is basic and can be done through a QR code of bitcoin address. Negligible transaction fees are calculated, then the deposits are processed after one confirmation. Let’s get ready to start Gambling Bitcoin on anything!
Hosting BetMoose Bets and Odds
BetMoose offers a two wagering techniques: Parimutuel and Fixed Odds. The main difference in how odds and payouts are calculated.
Fixed odds are just like the name implies, the odds are fixed and do not change over the course of the bet. These types of bets are less frequent on Bet Moose. With fixed-odds bets, you lock in the odds you see when betting. The payout is simple: if you bet 1 on ‘Yes’ at 2.20x odds, your payout will be 2.2.
A Parimutuel Bet is one where payouts change according to bet volume over the duration of the wager.
Hosting a bet is simple, requiring input on sourcing the turnout, and duration of the wager. Once logged into your betmoose account, click the “new bet button” on the home page. You’ll be promoted to input the bet description, decision, logic, the betting deadline and outcome date, and bet type. If fixed odds are selected, you’ll need to act as the house which requires depositing bitcoin ahead of time. Parimutuel bets do not require up front pay-in from the host. Hosts are compensated with a portion of the 3% fees taken by BetMoose from winning bettors. The payment scale is as follows
- Level 0 (0.5%) – Starting level for new members.
- Level 1 (0.6%) – 1 successfully resolved bet
- Level 2 (0.7%) – 2 or more resolved with cumulative volume of 10BTC or more
- Level 3 (0.8%) – 3+ resolved and cumulative 30+BTC
- Level 4 (0.9%) – 4+ resolved, cumulative 50+BTC
- Level 5 (1.0%) – 5+ resolved, cumulative 100+BTC
For fixed-odds bets, the host commission is only earned from backer winnings (those who placed a bet and won). Commissions are not earned from those who won their lay bet (offer).
BetMoose’s Brilliant Concept Will Grow In Time
BetMoose is an Ingenious Idea Worth Looking Into
While pure gambling is not the best way to go about this and gives a better disadvantages in terms of odds we believe that finding the right current events to wager on allows us to have some edge on the house. We are extremely fascinated with the concept of making wagers on the likelihood of outcomes of certain current events which interest us and we have a grasp on. Our first two wagers on the system related to the US 2016 presidential race. BetMoose has a promising premise, further enabled by it’s ease of use and promise for anonymity. As always in this space our major concern is with the failure of the platform itself. So many Bitcoin platforms and even businesses in real life come and go on a daily basis. The risk here along with the inherit one of wagering incorrectly and losing everything is losing everything due to the platform failing and taking customer money along with it. For the time being it seems like a promising premise and a decent platform to facilitate Bitcoin bets.
BetMoose not only provides wager services that cater to bitcoin gambling crowd as much as it does the bitcoin investments crowd, but it serves as a vessal for political, cultural, and ideological expression. Many wagers go beyond just the outcome of a sports game, and make opioninated statements, where people are vying for the win. We admire BetMoose’s ingenuity in this realm.