Hi treefiddy, I will attempt to address your comments in order:
Will you accept winning players always or restrict them? - We will always accept winning players. We will not limit individuals. We will only limit markets when early lines are posted until there is sufficient volume.
What will be your max betting limit on winning players? - There will be no limit on winning players
Will you accept US players? - If legislation in the US changes to allow the offering of sports betting to Americans, then we will. For the time being, however, we will not.
Will you allow arbitrage? - Yes we will allow arbitrage.
Will players funds be held by fansunite or completely independently from fansunite? - Users will have both of these options, however, for added security and for those that are comfortable with wallets, they can hold their funds privately in a wallet such as MetaMask.
if fansunite enter a smart contract where the odds can't be changed when you fuck them up and the money is mine to withdraw as soon as I win with no bullshit then it could be useful- provided the shit coin FU has a reasonably stable value. - Yes, this is how the smart contracts will execute. The odds cannot be changed and money is the individual user's to withdraw once the event is resolved. The FansUnite Token will have reasonably stable value and we expect an appreciation of our token holders' purchasing power. Our surrounding team is proficient in scaling businesses and will efficiently allocate marketing dollars, creating ongoing demand for the FansUnite Token.
Is fansunite the counterparty to my bet on something? - Yes, FansUnite will be the counterparty on bets. We will likely offer a betting exchange component as well, however, in which case other members will be the counterpart.
What happens if you mix up the odds and say the rams are 100/1 to win and the real odds are 1/100, will you still pay out? - Yes, these odds will be executed by the smart contract for that particular market.
Will withdrawals be processed immediately? - If a member is betting from the platform wallet then withdrawal requests will be processed immediately. If a member is betting from their own wallet, then payout will be immediate upon resolution of the market.
How can you claim to be both decentralized and be regulatory compliant? - This is not a fully decentralized application. We are utilizing blockchain technology and smart contracts to ensure that wagers cannot be voided or canceled, and to increase transparency, security, and reliability. We feel that it is important for a sportsbook to be regulatory compliant so that the development team continue to be able to work on the platform, and so that there remains liquidity for the token.
I assume AML/KYC is centralized? - We will fulfill our AML/KYC obligations as a sportsbook. As stated in our Whitepaper, we will utilize services such as uPort or Civic where possible. It is not our intention to hold this data in a centralized fashion.
FU tokens is a ridiculous name for a coin. - Honestly the origin of the name FU was more of a tongue in cheek nod to the fact that we were uniting sports fans against the house. Its current connotation is more aligned with thumbing our noses at overly costly traditional sportsbooks. We're open for discussion about it, though we're somewhat fond of it at this point. Thanks for the feedback!
Ok fair answers.
I think you'll have a difficult time convincing people outside of cyrptos from leaving something like pinnacle to join the site.
will you have odds compilers working for you or will you be buying feeds from pinnacle or somewhere else?
uniting fans against the house and then becoming the house, hmm
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Sorry for the late reply. Yes, I agree, we will have a tough time convincing people that aren't already comfortable with the crypto space to join us immediately. We hope that we can aid in the transition, and that cryptos become a bit more main stream. Generally, gamblers are willing to overcome barriers in the pursuit of profitability, but it remains a barrier nonetheless.
Initially, we will purchase odds from elsewhere and will likely be tweaking the lines provided by Pinnacle. Contemporaneously, we will have our in-house odds compilers/creators working so that us, the management, can evaluate their performance before we fully rely on our in-house lines. It is our intention to eventually be a line provider rather than relying on lines provided by someone else.
I agree, with your last sentence as well. Truthfully, what we are doing is giving users the best chance at profitability, and uniting against the odds/fees charged by existing sportsbooks.
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