Are you into betting, maybe just for fun every now and then? Well, a new site called Koodbee LLC is all about letting people like you predict and generate “true odds” on the outcomes of real-world events. Want to know more? Keep reading.
True odds were created to replace fixed odds set by bookmakers. It’s like crowdsourcing for betting, because the odds are derived mathematically from the players’ bets. Because they pull from the collective judgment of the crowd, they’re more accurate when the crowd is comprised of lots of different people with different knowledge and diverse points of view — and that’s just the kind of crowd you’ll find on Koodbee.
The site itself has public games that let users predict and generate odds on the outcomes of everything from sports competitions to entertainment awards to political elections, just to name a few. All of the public games have both free and paid versions, both of which allow users to connect with other users and showcase their activities and accomplishments, both on and off-site. The site is currently in private beta, but you can check out their homepage and sign up there.
Koodbee will offer two options: either free betting for fixed-amount awards or pay to play, for full payouts. Players will be able to keep track of everything on their own personal dashboard, which will also help them find new games based on the interests that they outline in their profiles. They’ll also be allowed to change bets as long as each game is still open – and to keep track of all of the games they’ve played already and are currently playing.
Koodbee is also working on a do-it-yourself interface that will let users make their own games about long-tail events. In addition, they’re working on a rich set of APIs that will let developers create their own related betting apps, and a white-label game program focusing on corporate, political, and social organizations as well as branded games that focus on niche areas.
So are you into betting? Head over to Koodbee and sign up to be a part of the first crowdsourced betting site!