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mitchlang009

How to implement wagering system

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I'm interested in how a wagering system could be built using the XRP ledger.  This could be used for esports gaming where users all pay an entry fee and then the sum is paid to the winner after some event.  It seems like this couldn't be completely trustless because someone has to be the authority on what the outcome was and who won, but could it be done without the third party ever holding a significant amount of the funds?

 

The best I can think of is that when the players enter a match they have to create a conditioned escrow transaction to a third party that only the third party can fulfill.  Once the match is decided, the third party releases all of the funds.  The third party then sends the sum to the winner.  The third party would only have the funds for a limited time so it decreases the potential for problems if the third party is attacked.  There would also have to be some mechanism that prevents the third party from releasing the funds until the match is decided.

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There have been some lottery projects. I've no idea if a third party was involved with the payout like you're asking. I won't name any but you can find some projects on xrpchat and github. That may help you find a solution for the escrow and conditional release. 

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18 minutes ago, LordVetinari said:

There have been some lottery projects. I've no idea if a third party was involved with the payout like you're asking. I won't name any but you can find some projects on xrpchat and github. That may help you find a solution for the escrow and conditional release. 

Thanks for the suggestion, ZerpLotto is an interesting project (with better odds than the state lottos).

I might be overly paranoid but I don't think I could sleep at night if I had a server that had access to an account containing any amount of other people's money.

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