When we posted the press release about Darkcoin being accepted by DirectBet.eu and Unicoincasino.com, we knew things would be getting very interesting in the cryptocurrency online betting niche. Especially when DRK proved to be a very strong coin for the platform. As a result, we opened up a Google Doc to the Darkcoin community, and here is the Q&A .
JP : What is the usage profile for the Darkcoin customers thus far that has driven the volume compared to a typical customer? Is it driven by lots of smaller users, or is it that there are a few “whales” or big bets?
DB: We’ve seen both small, mid and high stake Darkcoin bettors. We haven’t noticed any bias toward a particular group. The small stake bettors enjoy the smaller transactional fee compared to Bitcoin, which is crucial when betting with micro stakes, as otherwise it would not be possible for them to profit, due to the fees. The high stake bettors usually prefer to remain anonymous, so Darkcoin is a natural fit for them.
JP : Is there any evidence to suggest what method of payment/betting the new Darkcoin users are switching from (e.g., former Bitcoin bettors vs. former altcoin bettors?), or any indication that these are new users, perhaps switching from other betting sites?
DB : Ever since we started accepting Darkcoin, the Bitcoin betting volume decreased slightly. It’s too early to tell but this may suggest that clients switched to use Darkcoin instead of Bitcoins.
JP : Does DirectBet.eu anticipate Darkcoin is a one-time benefit because it is new to their site? Perhaps the same “surge” happened with Litecoin and Dogecoin when they first joined. Or do you think the unique attributes of Darkcoin will cause it to have a real advantage for users over alternatives that should continue to drive volume?
DB : Darckoin betting volume passed Dogecoin and Litecoin and is second to Bitcoin, all in its first month of acceptance. We believe the reason for that is because we were the first Sportsbook and Racebook to accept bets in Darkcoins, and thanks to the unique characteristics of Darkcoin. It doesn’t look like this is a one time hit though, as we didn’t experience this kind of volume when we first added Litecoin and Dogecoin.
JP : Is DirectBet.eu using any of the coin anonymization features themselves?
DB : No, not really.
JP : Beyond just seeing some incremental traffic to the website and betting volume, are there any advantages or disadvantages that you’ve experience from a vendor perspective (e.g., perhaps easier to integrate with vs. other cryptos, or maybe they have greater privacy themselves by being able to anonymize their profits and perhaps keep competitors from tracking their volumes and payouts)?
DB : DirectBet provides a completely anonymous type of sports betting. No accounts are needed, not even an e-mail address. You simply send your bets to a designated address and your winnings are sent back directly to your wallet, automatically, within minutes of the result.
From our perspective, the advantage of accepting Darkcoin is that it features faster confirmations, meaning that our clients get their winnings faster and as a result have a better betting experience. With the upcoming instant transaction technology known as InstantX, bettors will be able to bet, win and receive their winnings instantly, all within a couple of seconds, just like they do in deposit books, but without ever needing to deposit and park their valuable coins on 3rd party websites and hope that they will be there when you need them. This is particular useful for our provably fair block chain based dice and poker games.
We have been long time supporters of Darkcoin and invested in it in the past. Last month we had a poll in our Bitcointalk forum thread asking members which other altcoins they would like to bet with at DirectBet. Darkcoin immediately received an overwhelming amount of votes and support and that was the trigger for us to add it.
JP : Is there a particular reason why the odds on DirectBet.eu are behind CloudBet and regular fiat currency betting sites? Since you are not dealing with banks and high fees, shouldn’t your odds be better compared to those sites?
DB : We offer many bets at the highest odds, but for some bets, odds might be reduced if they are not reliable. Generally, you will be able to find better odds as we get closer to the event start time as odds are more reliable at that time.
When comparing our odds, please note of the following :
We offer the most rewarding VIP program in the industry, where you can earn up to 10 BTC in bonuses every month, so essentially, if you bet frequently, the odds that you are getting are much higher than the quoted odds. In addition, those who bet frequently earn additional bonuses from various other promotions that we run, such as our regular sports betting contests.
Other cryptocurrency Sportbooks might offer slightly higher odds, but will limit your action to micro stakes. We do not impose ridiculously low maximum bet sizes. The max bet amount is directly related to the odds provided.
We have introduced a new feature that allows you to negotiate the odds and you can use it to obtain better odds for your bets. We have implemented this feature for the advantage of those of you who want better odds and it is especially useful when the odds are not yet established.
That being said, we have several big winners here and if you shop around you will find some great betting opportunities and unique bets that are not available in other cryptocurrency Sportbooks.
We, JP and the rest of the CryptoArticles team, would like to thanks the folks running DirectBet.eu for answering the Darkcoin-related community questions.