The Grave Challenges in Betting
2018 is the year of the FIFA world cup in Russia. Its arrival will flip along with hearts, the pockets of many. Any amateur with little idea of gambling can ascertain that merely by a glance at the statistics. The online sports betting market is worth $205 billion with football alone contributing eighty billion to the pool. As much as these colossal statistics are thrilling, what often escapes the larger picture is whether the punters involved get a fair chance at winning and playing their hands.
If one looks under the folds, the true picture of the current betting market emerges clearly. The odds in betting are heavily lopsided and the bookmakers have a much greater chance at making money than the players. What's worse is that the bookmakers exercise absolute autonomy and players are often at their mercy and risk being banned from betting websites if they earn regular winnings. Add to this extreme bias a lack of privacy and security on websites, exorbitant fees charged by bookmakers, outdated and even deceptive payment methods and the scenario will leave anyone cringing at the name of betting.
A Great Solution to a Grave Problem
The revolutionizing blockchain technology has been amalgamated by Betr Betting with an innovative idea that will perhaps change forever the way the world has known betting. They will achieve that by doing the unprecedented - casting away all intermediaries and facilitating a smooth and unhindered peer-to-peer betting environment. What makes Betr Betting unlike any of its contemporaries is its aspiration to become a robust, global platform for betting without taking share of the winnings or charging any taxes or fees on the parties involved.
Mechanism and Features
The ingenious software, Better Betting Node (BBN) will be deployed on the platform to look over and execute all betting operations. As there is no central bookmaker, anyone will be welcome to create or lay a bet on the real sporting events. The software is handy and downloadable as an app on gadgets and once a new bet is created through the app, all other similar selections for laying and betting will be pooled together. The more the number of similar selections, the more robust it will become and create a bigger liquidity pool for winnings.
Transparency is unquestionable as every contract between layors and bettors will be preserved and updated on the Ethereum blockchain. BBN is fully equipped with a smart understanding of varied kinds of results in different types of sports, and estimating it precisely it will immediately process the settlements. To ensure worldwide participation and hassle-free settlements, betting will be facilitated through Betr tokens that will be pooled together at the time of building contracts.
Another appealing aspect of Betr Betting is that it will list its tokens with all major cryptocurrencies from Ethereum to Bitcoin. This is an interesting step towards making the system flexible to its users and ensuring greater participation.
Grab it While it's Here!
Betr Betting is a not-for-profit organization whose motive is to create a decentralized betting environment for its users. With an ongoing ICO, its target is to raise up to thirty million dollars and get the stone rolling. Placing its token value at a reasonable $0.10 and considering the opportunities for coin usage in the betting market that far exceed those offered in a myriad other ICOs, Betr Betting is expected to have fast and high funding. Moreover, it would be ignorant to neglect that in the upcoming sought-after tournaments, the betting pool is expected to go even as high as five hundred million dollars. This will directly result in increasing the value of a token to one dollar or even higher.
The A-Team
Behind a great idea is a hardworking, experienced team and Betr Betting is no exception to this. Its standard-bearer is Adriaan Brink himself, the founder of Betr Betting and previously iCoins. The similarities between iCoins and Bitcoin are astounding, taking into account that it was conceived in 2007, much before the advent of Bitcoin. On the team's Advisory board is Ronnie O' Sullivan, unequivocally regarded as the 'greatest snooker player to ever live'. With a team that is intrinsically experienced with blockchain technology and sports, the concoction is just perfect.
How effective the idea of a decentralized and mediator-free environment in betting is can be analyzed from the support that Betr Betting already has in the form of its media partners. Companies like Sports Betting Community (SBC), Coinpoint and Optimaplay have lent their firm hands to the organization. With a few more firm hands from the investors, you bet that the organization is set to change the dynamics of betting for the better!
Website - https://betterbetting.org/
Whitepaper - https://betterbetting.org/BETTER_BETTING_Foundation_White_Paper.pdf