Would the pool community use crypto for betting on pool matches?

NextGen Games

NextGen Games

New member
Hi all

Just a few questions for the AZB community — purely for discussion.


If there were an option to use crypto to bet on cue-sports, do you think the pool world would seriously consider it?


We are thinking about a few formats:


• Head-to-Head matches
• Peer-to-Peer wagers
• Tournament results / side action


And importantly — this would not be players settling after the match.


Instead, a 3rd-party intermediary would securely hold the action, so both sides know the funds are locked before the match starts.


Do you think something like that would appeal to pool players and fans? Or would most still prefer traditional payment methods if offered with the same options?

Shawn
Founder of NextGen Bets (Canada)
NextGen has been a paid supporter of AZBilliards
Here to talk cue sports, analytics & industry trends.
 
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NextGen Games said:
Hi all

Just a few questions for the AZB community — purely for discussion.


If there were an option to use crypto to bet on cue-sports, do you think the pool world would seriously consider it?


We are thinking about a few formats:


• Head-to-Head matches
• Peer-to-Peer wagers
• Tournament results / side action


And importantly — this would not be players settling after the match.


Instead, a 3rd-party intermediary would securely hold the action, so both sides know the funds are locked before the match starts.


Do you think something like that would appeal to pool players and fans? Or would most still prefer traditional payment methods if offered with the same options?

Shawn
Founder of NextGen Bets (Canada)
NextGen has been a paid supporter of AZBilliards
Here to talk cue sports, analytics & industry trends.
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Cash is untraceable. Crypto claims to be. Third parties take a cut, and if they are shady they may take the whole cake.

I can see crypto can have its place but I don't bet per se, unless I'm involved in a game of skill between myself and others. I even shun Calcutta, so I may not be the target demographic.

Now put the money on the wood. Money on the wood, make the bet all good
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From a legal standpoint I think you'd run into the gambling laws.

From a player standpoint, it would only appeal if it matched up strangers wanting to bet on opposite sides of a match. People that already know each other will just use paper cash/paypal/venmo, etc. It would need to create easy access to both sides of a match, otherwise there would be no incentive to pay the juice to the 3rd party app.

Crypto vs USD I don't see why that would even matter. I'd think crypto would turn more people off on the idea, but IDK. That would probably be an extra barrier to sign up for the app. Me personally, I'm into gambling in pool in person, online, on stocks, yet I want zero to do with crypto anything.
 
Great feedback.

From reading, its seems peer to peer within the pool community, with no fees or very little as there is always a transaction fee with crypto (less than 1 %) and as long as the bets are secured.

Got it. No one wants to give the bookmaker 10% to hold bets. Lets say at even money, no one wants to lay -110

But cash is still KING!!!

Thank you all
 
Most holders of Crypto and let's just call it Bitcoin think it will grow north of $500k in ten years. Talk to the Bitcoin maximalists and they say $1.5M. No serious holders are cashing in their crypto to gamble on pool.

Would you gamble on pool using stocks of Apple?
 
I just half read something about how some Stanford I think, student figured how to crack the anonymity aspect based on the general principle of:
If it is, it leaks.

They probably have that algorithm'd by now and when quantum computers get going, all bets are off.
 
straightline said:
I just half read something about how some Stanford I think, student figured how to crack the anonymity aspect based on the general principle of:
If it is, it leaks.

They probably have that algorithm'd by now and when quantum computers get going, all bets are off.
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there is no anonymity with crypto .... the fbi ect can track the movement of tokens through the ledger
 
Hungarian said:
Most holders of Crypto and let's just call it Bitcoin think it will grow north of $500k in ten years. Talk to the Bitcoin maximalists and they say $1.5M. No serious holders are cashing in their crypto to gamble on pool.

Would you gamble on pool using stocks of Apple?
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They do it all the time in Poker, but those guys have a LOT of $$$ unlike broke pool players
 
I saw with my own eyes 2 guys betting 1 coin per game at DCC. I think this was around 2016 and I believe it was worth around 14k USD per then.

That’s the only time I personally saw it used.
 
jasonlaus said:
They do it all the time in Poker, but those guys have a LOT of $$$ unlike broke pool players
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Upon further review, that's not surprising to me. Now that you mention it, if you charted the percentage of holdings sorted high to low and categorized by life station, pool players would be near the bottom of the list right above those prisoned and homeless.

I do know a few of those BC purists and they swear they will NEVER spend their coin.
 
Hungarian said:
Upon further review, that's not surprising to me. Now that you mention it, if you charted the percentage of holdings sorted high to low and categorized by life station, pool players would be near the bottom of the list right above those prisoned and homeless.

I do know a few of those BC purists and they swear they will NEVER spend their coin.
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I wouldn't be working anymore if they weren't trying to hack my account 😡

Mine would have been sold around 98k.
 
NextGen Games said:
Great feedback.

From reading, its seems peer to peer within the pool community, with no fees or very little as there is always a transaction fee with crypto (less than 1 %) and as long as the bets are secured.

Got it. No one wants to give the bookmaker 10% to hold bets. Lets say at even money, no one wants to lay -110

But cash is still KING!!!

Thank you all
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U would have to use stable coins. No transaction fees, only gas.
 
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