Before we proceed any further with this review, it should be made clear that the gambling market is one of the biggest economic drivers in the world today. As we speak, the global regulated and unregulated gambling market currently rakes in an average of around $533 billion per year. Out of this figure, it is estimated that nearly $205 billion of this comes solely from online gambling. In addition to this, tech giant Technavio says that the future of the online betting scene is set to grow tremendously within the next five years. According to company representatives, this growth has been forecast “taking into consideration previous growth patterns, growth drivers and current and future trends”.
About Betterbetting
Betterbetting – the betting crypto-currency that will establish truly decentralized sports betting on the internet. Providing a Global Betting Liquidity Pool, BETR is being built by gaming industry veterans, for the industry. BETR will become the exclusive crypto-currency of some of the world’s leading gaming operators. There are several other sports betting operations that operate in the crypto space but we differ in one significant respect – we take no percentage of wagers and no margin. Betterbetting purely facilitates a peer-to-peer bet. Add to that a team of seasoned veterans with a wealth of knowledge in the online betting industry and the result is a robust solution designed by the industry to work with the industry.
The betting protocol (placing and settling of bets) will be implemented as smart contracts on the Ethereum network. While this is the core of the system – in fact a large amount of the functionality will be in the Better Betting Nodes – the distributed betting directory nodes. Due to the latency, performance and cost issues on Ethereum, BBN will coexist on a proprietary distributed system and be built to incorporate the Ethereum functionality. A BBN client will incorporate both its own proprietary fast protocol for the betting offer and also the Ethereumprotocols for bet placement and settlement.
Betting issues
The online betting industry has lacked innovative ideas for some time.
The likelihood of massively supporting bets, payment methods already outdated and regular players won restricted or banned. There is a lack of security, lack of privacy, exorbitant fees and low yields, all of which is a good factor to place abettor or encourage them to wager under the hands.
Why BETR Betting is Better
BETR is different. This is a crypto-currency bet that will build that sport.
Really decentralized bets on the internet. With BETR providing security true finance peer-to-peer bets become possible on the internet with entities that do not has a previous relationship. Using blockchain we can provide clients Sportsbooks that operate without a human or business body in the middle.
The system is safe, software and transactions are provably fair and powerful. Added on the ease pay for bets through BETR currency and the fact that you can make Big bets, and you can see why Betting BETR is the future of betting.
How it Works for Everyone
There are two parties who bet. In our terms, we call the party that creates (or lays) the Bets 11 Offers the BET Creator. Traditionally this would be a sports book but in our case, anyone could be a Creator Bet. On the other hand, the party receiving the offer bid (or its part) is called BETTOR.
From the point of view of Bettors, they basically want to see a list of sporting events and betting options with the available obstacles and limitations. By selecting a bet option and applying the bet amount, a bet can be made. For CREATOR BET, they want to be able to create a Bet Offer series with betting options, opportunities and limits (maximum risk exposure) and place them into the betting directory so Bettors can select them as above. It is predicted that a standard BBN API will be created allowing Creator Bet to integrate directly with their own systems so that they offer automatic creation offers.
Above all these systems need to know when the sporting event is scheduled and when the results. To do this, the same APIs available for sports books can be used to connect samples of BBN and data feed providers. This will facilitate the creation of automatic events, markets, and selection and can also facilitate the results. One of the main features of this directory is to provide Event ID, Market, and Selection so that event data can be paired with the betting creator system. The Event ID will include the Primary Feed Provider ID and may also include the Creator ID.
Structure of Three Layers of BBN
To provide a technical solution to these requirements, a three-tiered application is considered which may be described as follows:
Competitive Landscape
There are several other sports betting operations operating in the crypto room but ours different in one significant way – we do not take the percentage of the bet and do not there is margin. We purely facilitate peer-to-peer bets. Add to that team experienced veterans with a wealth of knowledge in the online and betting industry the result is a powerful solution designed by industry to work with industry.
Sports competitive Betting products include Decent bet, Wagerr, Betmaster, Betrium, Imperium, Tombet, Fansunite, Quickbetcoin, and Ethersport.
Backup for future publications
The token reserve fund will be created as part of the initial token event to be sold on the market at the discretion of the foundation. This reserve fund is not more than 10% of the amount issued at ICO and will be trusted and not released for at least 12 months. No further evidence will be made other than the ongoing maintenance token.
ICO AND TOKEN SALE
At least $ 2 million, a maximum of $ 30 million will be raised through token publishing. This fund will be used for
Better bet protocol development and release
Development and open source software dapps and nodes
Marketing to key stakeholders and consumers
Legal and administrative costs
Achievements and Roadmap:
Started in the end of October 2017, BetterBetting has quite a few achievements to celebrate. The further look at the roadmap for 2018 looks quite promising.
The team:
The team behind BetterBetting already have a lot of experience not only in the gambling industry but also in the blockchain technology. On their website (link will be provided below) you can check out their profiles in more detail with each including a short summary as well as links to their LinkedIn page.Besides the team, their advisor team also looks very good. With having the greatest snooker player on board, Ronnie O’Sullivan, this project will benefit from his expertise in the sports business. In the advisor team, there is also Jon Matonis, the founding director of the Bitcoin Foundation as well as many more.
My opinion:
As I’m a sports better myself for several years now, I can really tell that currents’ problems in the sports betting industry is true. I have also faced several problems such as betting restriction/limitation, as well as slow payment methods over the past few years. With BetterBetting, this looks so much different now. I’m very fascinated by their idea behind this project. Being able to use cryptocurrencies and combine that with the sports industry is a great step forward into the right way. I have high expectations about BetterBetting and truly believe that this project will come up big. I’m already excited to see what will become of BetterBetting in the upcoming few months.
BetterBetting Conclusion
Lastly, there is a hard cap of 650M tokens. For any further enquiries, users can get in touch with company representatives or customer care employees by emailing them on the address provided on the “contact us page”.
Unsold ICO coins will be burned. This project is fundamentally unique, and I think that it will make a splash on the market. I will certainly support this project and will closely monitor the implementation of the roadmap. Now is a very good time to invest in this project.
FOR MORE INFORMATION PLEASE VISIT:
Website: https://betterbetting.org/
Whitepaper: https://betterbetting.org/BETTER_BETTING_Foundation_White_Paper.pdf
Twitter: https://twitter.com/BETRBetting
Facebook: https://www.facebook.com/BETRBetting
Telegram: https://t.me/joinchat/HNsEWQ-L0aCjHMsmKW-d_w
Bitcointalk username: Funmilola
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1235825
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