The Future of Sports Betting
Fourcaster is the world’s first juice free sports book. Made by the fans and for the fans, we’ve optimized the sports betting market so that our users get to bet the best lines on every possible game. Like any over-regulated market, we believe that reducing restrictions and commissions improves market efficiency. With Fourcaster, money will no longer flow disproportionately towards the books in the form of ridiculous commissions. In 2016, the size of the Nevada sports betting market was around 5 billion and Vegas took home hundreds of millions of dollars in profits. We want this money back in the market.
Here’s the problem with the market today: Vegas offers Pacers -7 -110 and Bulls +7 -110. If user A wants to bet on the Pacers -7 $11 to win $10 and user B wants to bet Bulls +7 $11 to win $10, Vegas takes both bets and nets themselves a $1 profit. These profits destroy market efficiency.
And here’s where we improve the experience: Fourcaster allows user A and user B to gain access to each other, and in turn mitigate the 10% commission fee that Vegas takes with every wager. So instead of risking $11 to win $10, you can risk $10 to win $10. Our users will then be able to reinvest this money and continue betting.
These extra commission fees are the difference between making a profit and fighting to break even. Fourcaster will save the user 5 to 10% of the amount risked annually, based on a 50% success rate. That means we reduce the amount you need to risk in order to make the same amount of money. When you lose on Fourcaster, you lose less than you would anywhere else. Stop paying your bookie’s mortgage.
So how, specifically, does this bet matching work? Well, Fourcaster is divided between price takers and price makers. Price takers use the book as they would any other sportsbook. They select which game they would like to bet on and are immediately directed to the best-unclaimed lines. These lines are offered by the price makers. If your desired bet amount exceeds what the price maker offers, you’re immediately directed to the next best price available. And to ensure that you’re getting the best lines offered, we have included the lines from other sportsbooks on our website. We’re confident that even a comparatively ‘bad’ price on forecaster is better than the juiced prices on other books. So when you want to bet the Yankees -105 and get redirected to -106, you’re still improving off of the -110 that the traditional books offer. This is market efficiency and it helps all parties involved. Ask Adam Smith.
Price makers, as the name suggests, allows the user to create their own offers. They must click the ‘4castNow’ button after selecting which game and league they would like to create their own offer in. Price makers will get to see all unclaimed or claimed prices on that specific game, as well as Vegas lines, and can create a line based on that market.
Fourcaster will be initially operating with cryptocurrency and will use Bitcoin (BTC). The sports market of the future will be operating on the currency of the future. Deposits and payouts will occur through the third-party custodian, BitGo.
We’re in an age when business inefficiency is constantly being improved upon yet sports betting remains antiquated through restricted markets and high commissions. Lyft and Uber revolutionized the transportation market and Air Bnb revolutionized the hospitality market. We want to revolutionize sports betting. It’s long overdue. Come check us out in the coming weeks at 4castersports.com, and get yourself a better price. Or help us take down Vegas. Either is fine with us.
Follow us on twitter @4casterSports, and be sure to keep an eye out for our official launch coming December 2018.