Triible - World's First-Ever Native Lightning Parimutuel Betting Platform \ stacker news ~lightning

Triible - World's First-Ever Native Lightning Parimutuel Betting Platform alpha.triible.com/

1652 sats \ 18 comments \ @south_korea_ln 29 Feb lightning

zaps forwarded to @kr (50%)

Shared here before by @kr, but worth reminding as they still are going strong.

I did a few sport bets, got paid out correctly.

Got a long term one running on US elections outcome too.

121 sats \ 9 replies \ @0xbitcoiner 29 Feb

Sports betting seems like a promising area for LN applications, one that hasn't been fully explored yet. As far as I know, there hasn't been much work done in this area.

16 sats \ 8 replies \ @Bitcoinisawesome 29 Feb

And poker. Lightning will be amazing for online poker and will be one of the first non-bitcoin industries to adopt LN en masse, I think. Bitcoins on chain payment rails are already being used industry wide. I don’t doubt online poker alone has created bitcoiners. Business and consumer are both crazy incentivized to use lighting. Only a matter of time.

101 sats \ 7 replies \ @0xbitcoiner 29 Feb

Poker is still a better application than sports betting because it does not require a third party to hold your funds. You can play directly from your own wallet, and you only need to trust the custodian for the duration of each game. This makes it a more secure and convenient option for gambling.

256 sats \ 6 replies \ @supertestnet 29 Feb

one day I hope to make bitvm poker so you don't even need a custodian to hold your funds during the game

Bitvm tic tac toe works in on-chain mode...but only if you win with a row, I haven't programmed bitcoin to understand columns and diagonals yet

I am currently working on an off-chain mode and it is coming along nicely :)

0 sats \ 2 replies \ @bitSanjay_ 1 Mar

We would really appreciate if you could do something similar with sports betting. We would love to have you in our broad of advisers :)

100 sats \ 1 reply \ @supertestnet 1 Mar

I don't see how bitvm helps with sports betting. DLCs seem like a better technology for that

0 sats \ 0 replies \ @bitSanjay_ 3 Mar

Thanks for your advice. I will be discussing DLCs with 10101. They have done a phenomenal job of virtual DLC channels. However, if you ever land-up working on BitVM Poker, we would love to partner with you and run it as a part of Triible Casino.

0 sats \ 1 reply \ @0xbitcoiner 29 Feb

That's amazing. That's why I'm bullish on BitVM. It's too early to think about this, but do you have any idea how much it would cost to, for example, play a hand of poker?

100 sats \ 0 replies \ @supertestnet 1 Mar

That's amazing. That's why I'm bullish on BitVM. It's too early to think about this, but do you have any idea how much it would cost to, for example, play a hand of poker?

I would probably have three separate addresses, player 1's collateral, player 2's collateral, and the kitty, which is the money that the winner of a hand receives. Each player would probably need to deposit something like $5000 into their collateral address, which they receive back assuming they do not break any of poker's rules. But if either player issues a challenge, whoever loses the challenge loses their collateral and forfeits the kitty to the winner.

Assuming fair play, everything happens off chain except for the deposit and the withdrawal. Those are ordinary-sized bitcoin transactions so the cost would be the cost of two regular bitcoin transactions. If there is foul play, whoever tried to cheat loses $5000 + the kitty. The $5000 pays for the fees of producing the fraud proof.

0 sats \ 0 replies \ @bitSanjay_ 1 Mar freebie

deleted by author

100 sats \ 0 replies \ @bitSanjay_ 1 Mar freebie

Hey @south_korea_ln, thanks for sharing your positive experience with Triible. We are still working on fixing few minor bugs. However just give you guys a little update: We've been actively researching DLCs and virtual DLC channels, if everything works out well, soon you'll have non-custodial betting on LN. We are also exploring and USD(Synthetic) betting over LN. Also, we're planing to do a pilot with THNDR Games's Clinch API. Please let me know what you guys think. Or any other suggestion how we can improve?

100 sats \ 0 replies \ @kr fwd 29 Feb

good to know, appreciate the update!

100 sats \ 1 reply \ @Malachi17 29 Feb

Stacking sats is not necessarily the same as gambling with them.

0 sats \ 0 replies \ @bitSanjay_ 1 Mar freebie

I agree, people should avoid gambling their sats. That's why our max bet is $10. Sports betting should be fun and we strongly discourage addictive betting.