You’re the perfect use case for Divvy.bet! Being someone who’s wagered on traditional sports book, your feedback will be paramount on how we can continue to fill in the gaps.
Our lines are sourced from data providers that aggregate odds from leading global sportsbooks and we select the best ones to push onchain enabling Divvy.bet offer some of the best pricing in the industry. We spent a countless hours this year to building out risk management tools to further promote a balanced book. As a result, we currently have several methods to limit book exposure such as an auto line movement algos and adjustable liquidity limits based on available liquidity and betting trends. This is an area that I’m keen on improving with the help of AI.
Yessir! As a huge fan of fantasy sports, I’ve added DFS into our roadmap as the focus after we’ve integrated other traditional bet types such as parlays, props, and alt lines.
In addition to the traditional sports bets we also offer a web3 spin to futures bets with our Champions Series. The concept embeds a futures bet into a NFT which enables the wager to become tradable in the secondary and live outside of the Divvy.bet ecosystem.
From reading through the docs it seems you’re a similar product to Overtime Markets over in EVM land. Is that a fair comparison?
But you’re significantly different to the other sportsbetting play on Solana, BetDex, in that you aren’t fully decentralised. You’re a centralised platform that offers sports wagering in crypto and an insurance fund style staking mechanism. Is that fair? Or have I missed something?
What do you think is a differentiating factor between what your staking fund is and what the insurance fund on a perps dex (e.g. Drift)/lending protocol (e.g. Hubble) does?
I love the idea of using staked JUP for liquidity in the insurance fund, but how would bad debt be handled? I assume JUP liquidity would be co-mingled with non-JUP liquidity so in the instance of there being bad debt to be paid who would be liquidated first? How would you handle the unstake period that JUP currently has?
Yes we have a similar product offering to Overtime Markets. We currently have a wider selection markets with prematch odd for 14 sports and 17 e-sports games.
During the initial building phase we explored building a betting exchange similar to BetDex as we believe it’s the truest form decentralized betting. However, through market research we concluded that the exchange model wasn’t one that was going to be reach mass adoption as bettors are looking for set odds and with high limits. This ultimately lead to the decision to go with the traditional sportsbook model and source odds from some of the biggest sports book in the world to bring the best industry pricing to Solana and beyond. So yes while we are not fully decentralized, we leverage blockchain technologies to offer a better experience overall where users do not have to deposit or request withdrawals.
One major differentiator is how yield is generated. When you provide liquidity to divvy.bet, the yield is generated from betting activity and player losses are added directly back to the house pools. Also House Pools are single asset pools which eliminate the risk of impermanent loss.
I’m not sure what you mean by bad debt since we are not a lending protocol and do not lend out assets. As mentioned above, House Pools are single asset pools and not co-mingled with other assets on the platform. You pose a great question with the unstaking period, we looking at several options such as keeping a portion of the JUP unstaked to satisfy any incoming withdrawals or opening a dex liquidity pool so anyone can exit via the secondary market if they so wish to.
Yeah this is pretty sweet. Love the idea and vision that you guys have for this. Will absolutely be supporting ya’ll through the voting process and onward. Good luck guys!
The business structure and business plan out to be clearer for something that can be very risky. The house is supposed to win at all times. But that depends on liquidity and bets. What is the insurance against the black swan event? That would be good to know.
Well said! A disorganized business is a failed business regardless of how good your idea or product is. Organization, flexibility and execution is key. Managing a sportsbook has definitely had it’s challenges and we’ve learned alot in the past year. We’ve spent the time to build the foundation complete with risk mitigations tools to help us manage the betting volume and prevent against the occurence of a black swan event.
Limit the max risk allowed per event/match.
Developed a line/odds movement algo that’s adjust lines based on the incoming volume to incentivize a balanced book
Work with a network of traders and other books to hedge risk if it becomes too imbalanced.
Thanks for the question and please give our platform a spin! Can’t wait to hear your feedback.