What’s the problem?
Most often when we talk about sports betting, we think of a huge number of sites full of scams and unreliable bookmakers. This topic could be result in another rhetoric about the problems of centralization, ok.
Let’s imagine we have a system in which people could bet without any anxiety of own money. So, what’s the system requirements?
- Clarity - user must be confidence in system and know all the processes about his funds
- Balance - before creating so difficult system, it’s important to calculate all of earnings on each side
- Be game - game must create winners, game must create losers. Game - it’s attraction.
Create this system.
How do you see this?
It will look like default betting site, but…
– The first problem we met: where we can get the match result?
Answer is: Oracles.
Every oracle node has 10 minutes after match ending to put match result to blockchain. Oracle node earns reward from fee bank if match result oracle put was elected by majority (plain old 50% + 1). Kind of mining or stake alternative.
– Ok, but what if there will be 300 nodes putting random results to make a chaos and get money from fee bank?
Let’s make an Oracle fee, e.g. it ll be equal to 1 Crystal like Transaction fee. This fee has to be sent to players bank.
– The next problem: how to get match info (teams, end time) before match results?
Every Oracle node can declare a match, of course by paying the Oracle fee, and this fee will be the first funds in players bank.
– I missed a moment. Where will the money come to the fee bank, from which Oracles will take earnings?
Before the bet, there will be a bet fee users will pay to this bank. It is the payment for the clarity and reliability of the results.
Then, all we need - is calculate an earnings from players bank.
What’s the impact?
- We can attract a large number of gamblers and popularize Free TON
- It would be the first fully decentralized sports betting system
Let’s think about this idea. What’s the vulnerabilities do you see?