Do you want a unique betting experience? Then check out BetMoose. These guys are a user-driven betting exchange. What that means is they don’t create lines or host any bets themselves. Instead, they provide the platform so users like you can host (and make) bets.
What does that mean exactly? Here’s an example:
Say you think bitcoin will triple in price within the next 3 weeks. Maybe you think the next James Bond film won’t star Daniel Craig. Or maybe you have a strong feeling about who will win the WSOP Main Event.
What you do is make a new bet. This includes:
- Create a title, add a category and picture.
- Add a description.
- Add your decision logic. How will a winner be determined? Do you have any reasons for thinking your prediction will come true (with sources)?
- Choose a deadline.
- Choose your bet type – fixed or pari-mutuel.
The host of the bet will win .5-1 percent commissions on correct bet resolutions. In other words, you can make money just by hosting your own bets.
Not interested? That’s okay – you don’t have to host bets. You can just make bets instead. And if you’re looking for a completely different experience, you might want to consider exploring the world of Bitcoin Binary Options.
That’s the general idea. The bottom line is that they’re a unique betting platform that accepts Americans, anonymous sign ups, and there’s no confirmation on deposits. They’re the first of their kind.
But are they right for you? Read our review to find out.
Established year: 2014
Wagering limits: High
Cashout times: Fast
Other crypto currencies accepted: None
PROS VS. CONS
Create your own betting markets
No limits on bet sizes
Good user feedback to date
Coins wagered are kept in cold storage for security
Not a traditional sportsbook
No promotions or bonuses
Website is not mobile responsive
Things You Can Bet On
If you want to place a bet you’ll need to head to the All Bets tab. If it’s your first time there I recommend not using their filters – just browse all the bets they have listed.
These are the categories:
- Last Chance
- Highest Volume
- Most Controversial
And controversial is right. When I reviewed their site someone was hosting a bet on whether there will be an arrest made for the ‘Fappening,’ the incident where several nude celebrity photos were leaked online.
There were normal bets too. For example, you could bet on whether bitcoin would pass $1,600 by the end of the year.
You could also bet on who you think is hotter (one celebrity versus another).
Overall there were 9 pages, with 16 betting options on each.
A unique aspect of the site is their Hall of Fame. This is where you can see who made the most winning bets, as well as what’s been paid out, earned in profit, a user’s accuracy and their hosted bets.
When I checked the HOF out the most that anyone made was ½ a bitcoin (profit). So there hasn’t been a TON of action here.
But this is a pretty cool betting platform. So I hope the action picks up in the future.
Summary: Not Your Typical Sportsbook (And That’s Okay!)
So, what do I think of BetMoose? Crypt.la  interviewed the creator of BetMoose, Adam King. I agree with his concluding paragraph:
In some ways, the site comes with built-in marketing. By giving bet creators the ability to get commission on bets (up to 1% of the take), it encourages them to create and promote the hell out of their bets. The tricky part is coming up with bets that are controversial enough to get a lot of votes. If the site becomes popular, I suspect someone could make some decent cash just coming up with and promoting bets (something I might try). There’s lots of competition in the online betting space, so Betmoose’s biggest hurdle will be standing out in the crowd. One big bet that goes viral could be all it takes. Either way, it’ll be interesting to watch.
It’s a neat idea, the P2P betting exchange. And it’s pretty cool that you can make money, not only from winning bets, but also from coming up with (and hosting) betting ideas.
But since they’re still a new company, and their entire model relies on users, I’m going to rate them a C. I think they’re worth checking out, but I want to see how they progress before giving them a higher rating. Likewise, they are not a traditional sportsbook. While they may be quirky in that they enable you to bet on literally anything, they don’t have the range of betting markets on sports that most bitcoin users are after. While the likes of NFL and soccer markets may grow on the site, it’s unlikely they will ever compete with the likes of Cloudbet. However, that’s not necessarily a bad thing, as they are very much a standout player in their niche.