The former platforms BetXCP and XBet.io were both good starting points for next-generation betting. For those unfamiliar with betting on CP, the advantages are quite revolutionary:
- since it’s Bitcoin based, transparency is 100%
- since the platform is open, no registration is needed
- the operator does not hold you funds, they are escrowed by the protocol
Some time ago Augur switched to Ethereum. My gut feeling is that Augur became overly complex and Ethereum’s developers promised they could serve them, while Counterparty’s wouldn’t. In my book that’s a plus for CP’s integrity. Time will tell how it all unfolds.
What I hope someone will develop for CP:
- Betting platform with XCP, no registration needed
- GUI is all inside a modified Counterwallet
- A BTC-XCP vending machine included (good profit potential for the operator)
- Rates/odds are real-time off-blockchain updated in the GUI.
- A market maker sets the rates and promises to match users’ orders on the blockchain
- Marketing is needed to attract users
This is not a one-man job, but a serious effort by a competent team can really make a revolutionary platform. From the user experience point-of-view I think not needing to register is the largest advantage. The escrow function is in theory very good too, but I don’t think gamblers really care. From a legal point it may be very good for the operator though.