Crypto

Crypto-betting is reliability, speed and transparency

For centuries, laws have banned or restricted betting, betting, and gambling. The governments took them very seriously. The betting industry boomed in the 1990s when bookmakers began accepting bets online. Crypto-betting is about reliability, speed and transparency. Typical betting platforms suffer from the same problems – lack of transparency, geographical restrictions on payments, and the need to trust site owners who can rig results or keep winnings. All these problems are easily solved by introducing blockchain and cryptocurrencies deep into the betting system.

How it works

Players do not know where the funds are going and cannot track bets on the blockchain. Such bookmakers use cryptocurrencies only to attract new customers, but do not take the next step. The ultimate solution that blockchain technology offers could close this circle of distrust and create a new foundation for a universal view of betting. One of these solutions is betting based on blockchain technology, or rather the Betmatch project. Betmatch is a decentralized betting house that combines the classic business model associated with traditional betting affairs, executed in an unbiased paradigm using blockchain technology by the social betting network as the second (community) level. The architecture of BetMatch consists of several components that work together and form a reliable open betting system: – the human factor and the influence of third parties on the processing of bets, the display of results and payments to the client are eliminated – bets are unprecedentedly honest and transparent thanks to blockchain technologies – only cryptocurrencies are accepted, and this means that you no longer need to deduct a commission for depositing or withdrawing funds to payment systems and huge taxes on each win – a smart contract will replace the so-called “authority” of the bookmaker, which means that bets will work instantly, and it is impossible to pay out winnings will be delayed or canceled – By using an internal token for staking, it will be possible to halve the commission for transactions. The internal token XBM of the EthereumERC20 standard operates in the BetMatch system. Using it to place a bet, users can significantly save on internal commissions, or even take all the commissions in addition to winnings. Also, XBM tokens can be leased to other needy players in order to subsequently receive a small percentage of each of their winnings. In addition, active and useful community members, such as experienced forecasters, or interesting sports analysts, will be rewarded with XBM tokens.

Types of tokens

The token is listed on the Latoken and Crex24 exchanges, where it can be purchased. You can also purchase XBM at Sportbet.one. Since its inception, its price has increased by 500%. As for centralized betting servers, here the players risk losing their money, because the company decides how much the player will receive in the end. But Betmatch, by combining two business models, aims to create a long-term solution for a modern cryptocurrency-based betting server. After the deposit, the funds go to a smart contract that automatically transfers the funds for bets to the player’s balance, and the payouts are guaranteed by a specially allocated liquidity pool, the state of which is always available for verification. Every hundredth block is uploaded to the public Ethereum blockchain. This block contains data about the operation of the private blockchain. Thus, on the one hand, it turns out to achieve a high speed of the entire system, on the other hand, security, decentralization and fault tolerance. The priority tasks of the project are fraud protection and transparency of the bookmaker’s actions (the balance of the platform is available to players). You can bet money on the fact that betting will become more technologically advanced. We are waiting for your feedback on the first cryptocurrency betting shop with a permanent impeccable reputation – Sportbet.one. The future belongs to real blockchain bookmakers.