At certain times, you come across one of those hidden gems on the Internet. Even more rare is when it involves Crypto as well. BetMoose is one of those Crypto hidden gems, as it will allow you to bet on virtually anything. But it’s not all about gambling either.
Even though you can see why the gambling attractiveness of BetMoose will most likely see the biggest success short-term, there are other, greater possibilities too; How does a “crowd-pooled futures contract exchange” sound?
Create a wager about ANYTHING
When I said that you could bet on virtually anything, I wasn’t kidding. Sports, economics, the weather, anything can be subject of a wager on BetMoose. And if you don’t find what you’re looking for, why not host the wager yourself?
I tested out the system by creating my own wager. Keep in mind the outcomes should be publicly verifiable. So I ended up hosting a wager about whether or not CinniCoin will reach over 500 Bitcoin in trading volume on MintPal in the next 24 hours.
You can find my wager here : http://betmoose.com/bet/cinnicoin-over-500-btc-trading-volume-on-mintpal-148
The advantage of hosting your own wager, is the fact that you get paid commission on every bet placed through your wager. In the beginning, this will be 0,5%, which isn’t a bad start at all! The maximum commission is 1%.
A Growing Community
Best part is, hosting is free and only requires a quick registration during which you are hinted at the personalized experience that awaits you. Minor details like representing your country (which comes with a nice flag icon) and city-specific time zone that adjusts your DST automatically are rarely-seen and appreciated customization options in the Crypto space.
That’s just the beginning though: registered users have the ability to follow, discuss, and report bets; but also get a profile with a customizable avatar, achievements (coming soon), and performance metrics to keep track of, such as accuracy, ROI, and all past placed bets and their result.
Your performance results puts your wits in competition with other moose oracles competing in the Hall of Fame for the top spot. Some users from the past week are already populated on there, some boasting close to 100% accuracy.
Who knew moose could tell the future? Another interesting aspect is the ‘hosted bets’ page within your profile, where you’ll see a ‘Share’ button hinting at a possible entry point onto the site for new users – going directly to your exclusive ‘book’ of bets you’ve created.
BetMoose allows for additional anonymity, if the user prefers. Placing bets without registration is possible, and you remain anonymous in the ‘placed bets’ table. You can still check on your bets and proof of deposits and payout using the ‘Track Anonymous Bet’ tool.
Lastly, if you’d like the benefits and convenience of having an account but don’t want anyone to ‘follow’ you, you can go into your settings and set the available privacy options.
I have a feeling BetMoose will play this personalization and community element out in the future, as there is a lot of potential here – possible the first steps into Bitcoin adoption for the masses?
Two-tiered Resolution System
In order to earn your commission as a host, you will have to log in to your account and resolve your bets. BetMoose moderators are not allowed to touch any bets unresolved by the host. If things are left unresolved or are disputed by the bettors however, they will intervene when necessary.
What this does, is create an incentivized peer-to-peer system for resolving human-involved, “real world” events and outcomes. Not to mention, this also prevents the “one point of failure” reliability issue seen previously where only the site admins resolve contracts, and sometimes resolve incorrectly, prompting scam accusations and anger from the community.
Platform Security & Anonymity
All bet deposits are held in cold storage. for additional security. Although this is already a good accomplishment (and should be seen as industry standard for all Bitcoin businesses), the team at BetMoose is not done.
“We plan to offer a publicly verifiable proof-of-reserves tool in the near future, which will not only show where your coin is, but even the parameters of the cold storage pool its in, such as when you can expect it to touch a hot wallet”.
The cold storage application of BetMoose is especially interesting as the system knows when the coin is required (based on the “when the outcome is known” field of each wager), so this creates an added layer of safe-keeping. The team is currently looking at the best way to get cold-stored coin out early if the outcome happens prematurely.
Fees & Refunds
Everything on BetMoose is currently free, with the exception of any winnings which are deducted 3% (shared between the host and the site). Any bet exceptions such as your bet arriving too late (or you sent a deposit to an older address), or the bet goes unmatched, you will be refunded automatically. BetMoose will even pay the transaction fees for all withdrawals and payouts. Nice touch.
Honestly, just browse around the BetMoose website, and I’m sure you will see the unlimited potential this platform has to offer. And if you are really good at predicting, you might find yourself at the top of the BetMoose Hall of Fame pretty soon!
This one is one to watch.
BetMoose website : https://www.betmoose.com/
BetMoose on BitcoinTalk : https://Bitcointalk.org/index.php?topic=645747
BetMoose on Twitter : https://twitter.com/BetMoose
BetMoose on Facebook : https://www.facebook.com/BetMoose
BetMoose on Google+ : https://plus.google.com/+Betmoose1
BetMoose on Reddit : http://www.reddit.com/r/BetMoose