Our project is focused on the market for betting on events.
Today the volume of the betting market is more than $ 500 billion.
The annual profit of bookmakers is more than $ 40 billion.
And according to H2 Gambling, the profit of bookmakers is growing.
It is necessary to consider the fact that the share of offline bets is decreasing in favor of the online betting.
And more and more people are betting on a mobile phone.
This suggests that with the advent of new technologies, the market is steadily shifting online.
A very acute problem is in the honesty and transparency of the acceptance of bets.
Despite the popularity of bets and games in the world the practice of bookmakers causes more and more criticism.
In particular, users are increasingly reporting cases of direct arbitrariness of bookmakers, for example, refusals to pay, especially
in case of large premiums under the pretext of "suspiciously high ratio of winning" or "random" detection of several accounts (although
in this fact did not cause of any remarks in relation to the client on behalfe of the bookmaker), and so on.
With the advent of new technologies, bookmakers began to consolidate.
Today, betting market is centralized and monopolized.
There is a centralized system for calculating odds.
We propose to create a smart contract based on blockchain technology to enable participants:
- to make bets and accept bets
- to have as many accounts as there are wallets
- the premium is guaranteed by the means of the person who takes the bet
- deposite and withdrawl of money on the principle of trading cryptocurrencies
- the amount of bets is limited only by the financial capabilities of the participants
Our goal is to bridge the market participants between themselves.
Each participant must have the right to bet and accept a bet.
The blockchain system should guarantee to all participants the honesty of the payout.
Advantages for players
Players on our trading platform will get more benefits for their money, namely:
- guarantees of payment of a prize are provided by the rules prescribed in the smart contract and are protected from attempts to manipulate settlement terms from any of the participants, as well as from third parties;
- all transactions are carried out exclusively in the crypto-currency, which allows to limit the impact of any national or international legislation on the activities of bidders;
- bookmakers limit amount of deposits, they are able to "cut" them and not to pay the winnings;
- on our trading floor, it is possible to deposit and withdraw any amount;
- it is possible to create your own analytics based on the accumulated data of the trading system for the forthcoming event, apply financial, technical, fundamental and mathematical analysis tools to assess the risk of decision making.
Stages of development
The main goal of the platform is to provide people, wishing to bet on events in sports, politics, culture and other events, is to provide them with more opportunities and better service. At the initial stage, we intend to introduce a revolutionary innovation in the practice of the betting market, namely: to give participants the right and ability not only to make bets, but also to accept bets from other participants.
At the next stage it is planned to open the possibility for participants to appoint events bythemselves, for which it is possible to make and accept rates, for a minimum commission. In the case of a positive response from other participants, the initiator of the event will receive a fee from the trading platform in the form of deductions from part of the platform’s commission. We believe that this will be in demand among the participants willing to create their own local tournaments.