Fairlay Review

Reviewed by Dev Ops

Total score

Cashout Times
Bonuses
Betting Markets
Security
Mobile Site
Website Features
Customer Support
Ease of Use
Available in United States

Name: Fairlay

URL: www.fairlay.com

Established year: 2013

License:  N/A


Bonus Amount: 100 Up to 1MBTC

Wagering Req: None


Bitcoin Only:  No

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Fairlay Review

Do you want a change of pace? Then you might want to check out Fairlay.

Fairlay is a user-generated prediction market. This differs from a traditional bitcoin sportsbook in a couple of ways:

  • All bets are created by users like you and me.
  • There’s a larger variety of themes. You can bet on politics, current events, bitcoin prices, social media, TV, and more.
  • The odds fluctuate based on how people vote (like parimutuel betting). Sportsbooks typically use a fixed betting format.

If you read our BetMoose review – Fairlay is just like them, only with fewer predictions to bet on.

They founded the company in 2013, and opened their site for Beta in mid-February. Since then they have acquired 1,000 users, tracked more than 8,000 bets and have had more than 50 predictions to bet on.

It looks like they’re off to a great start.

But numbers can be misleading. So let’s take a look at their site in finer detail. We want to determine if it’s going to be worth it for you to check them (especially compared to BetMoose).


Do They Have Any Promotions?

Kind of.

When I signed up they sent out a confirmation email. You need to click the link in the email to confirm your account.

In that email they told me I could receive 1 mBTC free.

SWEET!

But when I confirmed my account they told me I needed to deposit 1 mBTC before they’ll give me the free coin. This is because they’ve had to deal with people abusing the offer.

Understandable – and it’s better than nothing.

Other than that they don’t offer anything. I asked about it through email, and they told me they don’t offer other promotions so they could keep their predictions/bets as cheap and fair as possible.

Type Amount (%) Matched amount Wagering REQs
Sign Up Bonus100%1mBTCNoneClaim now

Pros and cons

Pros

  • Active forum
  • Works well on all mobile devices
  • Quick response to support requests

Cons

  • Site navigation could be improved
  • Not many promotions

Creating a Prediction, Options & Fees

Like BetMoose, Fairlay lets you create your own predictions. Do you think bitcoin will rise/drop in value by the end of 2014? Do you think the Cavaliers will win the NBA Championship?

Then create a prediction and others will bet on it.

The process is different from BetMoose. Fairlay will need to approve your prediction first. Here’s how you create it:

  • Enter a title.
  • Create a description.
  • Add a closing date (when the last bet can be made).
  • Enter a resolution date (when the prediction can be settled).
  • Add a source link (this is a resource that people can read to determine what they think the outcome will be).
  • Choose a category (is this sports, news, finance, etc).

Then submit the prediction.

If you have any questions about the process you can contact Fairlay at info@fairlay.com.

Betting On Predictions

What if you don’t want to create a prediction?

That’s okay. You can bet on predictions instead. Here are some of the choices you have:

  • Bitcoin
    • Altcoins
    • Bad news
    • Bitshares-x
    • Butterflylabs
    • Challenge
    • Difficulty
    • MtGox
    • Price
    • Satoshi Nakamoto
  • Sports
    • Football
    • Formula 1
    • Poker
  • News
    • Edward Snowden
    • MH370
    • Politics

There are fewer options than BetMoose. But since they’re in Beta I expect them to add more markets in the near future.

What’s interesting about some of their bets is that they’re out as long as 3 years. That’s a long time to wait – you have to wonder what the bitcoin market will look like then – or if it’s even around.

The one complaint I have is that betting on a prediction isn’t straightforward. You can choose either side (yes/no), your own odds or use their advanced form to micro-manage your odds.

So it would be helpful if they had tutorials that explained how this all worked. They have an FAQ page, but I don’t feel like it’s thorough enough.

It’s a cool idea, though.

The fees seem to be decent too. They take a 2% cut only from winning bets. Here’s how they explain it:

Lets say you place a prediction of 10,000 mBTC and your odds are 2.5. Your winnings are 10,000 * 2,5 = 25,000 mBTC. We directly subtract a fee of 2% from the net winnings. The net winnings are 15,000 mBTC. 15,000 * 2% = 300. So you will be credited with 25,000 – 300 = 24,700 mBTC.

Everything else is free.

Basketball
Motor sports
More sports
Android

Android

Desktop

Desktop

iOS

iOS

Apple

Apple

Mobile

Mobile

Tablet

Tablet

Windows

Windows

 

Why players love Fairlay

Get your exclusive welcome bonus

Security

Restricted countries

Supported languages

English

Certification
Customer support


Phone: No
Chat: No

Verdict

So what else should you know before signing up?

The Good Stuff

  • They have a forum. It looks like it’s mostly used for feedback. But their staff appears to be quick and responsive.
  • The site is mobile responsive – kind of. It could use some work. About 90% of the site is responsive, whereas the rest of it doesn’t fit the screen well or has text shooting off in some random direction.

The Bad Stuff

  • Their homepage is a mess. It could use some structure. Maybe some categories so you can quickly find the types of bets you want to make.
  • They don’t have any terms, privacy policy or legal pages.

I’m sure I could find more, but since they’re new I want to cut them some slack.

Yay or Nay On Fairlay?

Yay.

There are some things I don’t care for. For example, the mobile responsiveness could use some tweaking. Some instructions would be helpful. And I think it’d be a good idea to add the standard legal pages.

But, other than that, they have a solid, proprietary platform, a neat idea and reasonable fees. I’m interested to see where they’re at in a year or so.

But for now, I give them a B rating.

Total score

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