Fight betting as a means of microfinancing fights and fighters

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Fight betting as a means of microfinancing fights and fighters

Post by nodogoshi on Mon Jan 29, 2018 10:56 pm

This is as far as I'm aware entirely an idea of my own invention, which I just hatched in the past couple weeks.

I have an idea, which essentially combines sports gambling on prize fights using cryptocurrency, with fighter sponsorship, in order to establish a new revenue base from which to finance fights and fighters. As far as the 'sponsorship' revenues, these are comprised of a small percentage-based transactional cost on bets placed on particular fighters.

All commercial gambling sites in effect collect a transaction fee (it is done via the precise pricing of the odds), so basically the idea is just to transfer this transaction charge to the fighters.

The actual math involved would be pretty complex (I so happen to be working on my math game), and a big issue would be how to distribute this revenue.

My thought would be to distribute it using a function of the number of bets placed on a particular fighter, weighted by who the winner of the match is (with a 50/50 weight in event of a draw).

So, it would be simple enough to work out.

In principle, this system could be applied to fights and fighters anywhere in the world, so long as there were people willing to bet on the fight. The system would appeal to fans to support fighters directly, by betting, and even sharing personally in their success (or failure). The revenues could flow to fighters, like YouTube royalties on attributable work. Mind you, the promoter owns the copyrighted broadcasts, but this is in effect just crowd funding a fighter, in the final analysis.

What is more, it is conceivable that players could place bets on speculative/potential matchups; and that this could even go so far as establishing a pot from which to lend additional incentive to the fighters to make a particular match.

Wild crackpot stuff probably, but I figured I'd give it a go at thought experimentation.


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