The football World Cup is here. Would this kind of Bitcoin + Nostr betting stuff make sense? Here’s the idea:
Germany vs Ivory Coast is about to start, and Max wants to make a bet. npub1klkk3vrzme455yh9rl2jshq7rc8dpegj3ndf82c3ks2sk40dxt7qulx3vt says:
“Get your money back 10 times, if Germany does not win by at least 5 goals and Havertz does not score at least 3 goals. Minimum bet 3 BTC and maximum bet 10 BTC.”
Then Max uploads the funds and sets the parameters on how the betting event is judged. Then he uses Nostr to spread the word about his betting offer.
npub1jt97tpsul3fp8hvf7zn0vzzysmu9umcrel4hpgflg4vnsytyxwuqt8la9y, npub1f4q60j7fklm7sjzdz4ye42g5r3elnguuxajuch2kx8apulfkx0xqf2a37d and npub1hghnjjpnvkz8t6gkszuf37d7puwc2qtxc65rnklqsngzv6kkug9qhhfyz2 like the odds and the rules of the bet, but they think that the minimum bet is too big. They upload the amounts they are willing to bet and use Nostr to inform everyone about the betting offer Max has made.
They have to promote the bet so that Max’s minimum bet requirement is fulfilled. npub1l4kaxnm7798jjlk3qjy0u768rra8x8y8n5e426yn98zj0kf4pgtq7ytqfa, npub193jegpe9h0csh7al22mkcstqva2ygyny7ura8kwvrn4tsmtnl4lsrxny6k, npub1u87g378r0puytp7zxdl5awg2gmqvqc3vgtnh6a0vfgm4y8es7c3qam93f7
and npub1j8y6tcdfw3q3f3h794s6un0gyc5742s0k5h5s2yqj0r70cpklqeqjavrvg move funds into the pool, and now the minimum bet requirement is fulfilled. So, the bet is made. If the bet had not been made before the deadline, the people uploading the funds would have gotten their funds back.
However, there is still time before the game starts. And Max is not totally happy. Max wants more people to bet against him, because he knows that Havertz is “eiskalt” and nothing is going to stop him. So, he keeps on promoting his bet. npub18ams6ewn5aj2n3wt2qawzglx9mr4nzksxhvrdc4gzrecw7n5tvjqctp424, npub1dergggklka99wwrs92yz8wdjs952h2ux2ha2ed598ngwu9w7a6fsh9xzpc and npub1jfn4ghffz7uq7urllk6y4rle0yvz26800w4qfmn4dv0sr48rdz9qyzt047like the odds and add funds into the pool. This can continue till Max’s maximum bet limit is reached.
The bet is valid once the minimum bet limit is reached, and then the final betting amount can be anything up to the maximum bet amount. The final betting amount depends on how much funds are added into the pool before the deadline. And everybody gets their own share of the potential winnings. If Knut contributed 10 percent of the money used to bet against Max, then he gets 10 percent of the potential winnings.
At the same time npub1zuuajd7u3sx8xu92yav9jwxpr839cs0kc3q6t56vd5u9q033xmhsk6c2uc sees Max’s betting offer and thinks that Max is going to make a killing. He copies the bet and (if he feels like it) makes some small adjustments to the parameters or minimum/maximum bet requirements. And then Jeff posts the offer using Nostr. npub1zeuyhtvpk7uzzhhye6s2muz8jw46n2pkvzre933szr4ua473snyqesxvfp, npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg and npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe like the odds, and the same show starts again.
I don’t know if something like this exists? Or perhaps it does not exist and there is a good reason for it.?
Anyway, it could work as an onboarding/promotional tool or as a business. If it was a business, people could take small revenue sharing commissions from the players they refer to the betting pool. And naturally that would mean that other people could start building content businesses etc. around the commissions.
Talking about people who have no intention of placing any bets. It would be a very natural partner for Nostr users such as this npub1qspus6smkn8mcdxg5jflh50s69vdgtwsd5p74gmjpzp2qekn5duqfv5afj
Obviously, if it is a business, it should be done anonymously. Otherwise, there is going to be trouble with lawmakers.
Online gambling is heavily regulated and full of irritating stuff: KYC, responsible gambling, etc.. And sometimes the bookies and betting exchanges themselves are very unfair. For example, they limit their customers bets, cancel bets, etc.. All the normal "Terms and conditions apply" stuff.
Bitcoin + Nostr could solve this problem.
#asknostr #football #soccer #worldcup #betting #bitcoin #betstr #fifa #nostr
