Photo by Viktor Hanacen on Picjumbo

Today, were the introduction of Blockchain was hardly embrace and seems to be like a natural and can be suitable for any industry, the Gambling and the Betting can be considered in such industries.

Disclamer: This article is not a financial advice. I’m not a financial experts. This article is speculative and merely my own personal opinion based on my own research that I’ve done before writing it. Please have due diligence to do expanded research regarding any Start-up projects you want to participate, I have prepared some useful links that I used as reference on this article. I try to avoid all FOMO or FUD and remain unbiased. Always remember that what you do with your funds is your decision to make. DYOR and seek guidance from a professional financial expert that you’ve trusted.

What is Gambling or Betting? Source

Gambling is when you participate in a game where the players bets on what he think will be the result of the game. Ofcoarse the result will be depends on what will be the predictability of the game. This is more Like you place your money in the middle of the fire and gold mines.

Examples of Gambling/ Betting

• Casino-style cards games (Texas Hold’em, Blackjack/21, etc.)
• Other card games (Gin Rummy, Spades, Hearts, etc.)
• Dice games (Craps, etc.)
• Electronic games (online poker, slots or keno)
• Betting on sporting events (Football, Baseball, etc.)
• Pitching quarters (or other coins)
• Lottery tickets or “scratchers”
• Raffle tickets
• Bingo
• Games of personal skill (basketball, video games, pool, bowling, skeet ball, etc.)
• Mahjong, Native American stick games and other cultural games

Gambling History

Photo by: Gambling.net

Like the History of the humanity where we really do not know indeed there still debates on where we came from, the Gambling History was inextricably linked with it. That how long you will taking back time you will never know where it starts or came from.

There are earliest evidence that the Betting was already taking place in 2300 BC! Where some concrete evidence came from the Ancient China where the tiles were unearthed is appeared to had been used for the rudimentary game of chance. When the construction of the Great Wall oF China, They also found evidence in form of keno slips that they believe were used in about 200bc as some sort of the lottery to fund the state works.

However the First Casino was in Italy in 17th century, When the Ridotto got established in Venice, Italy in 1638 this is to provide a fully controlled environment for betting, In that case, Casinos started to appear and grow in the 19th century throughout the Europe Continental.

Online Gambling source

Photo by: Gambling Affiliate Place

also known as Internet gambling. Online Gambling was first appeared in 1994. Online Gambling such as Poker, Casinos and the Sports betting that is popular these days. Unfortunately , There are many countries that dont tolerate this, however in some provinces in Canada, most countries in the European Union and several nations in Caribbean, Online Gambling was Legal.

Mobile Gambling

Photo by: Mobilecasinos.me

Todays technology where mobile gambling is not only stretch of imagination, that it was more convenient than online gambling as it has evolving with a many different big companies today that was bringing out their own handsets and the mobile devices.

The Playtech that was formed in 1999 has been the software platform of choice for a many land based in gaming companies who are eager to break into online casino playing environment. Playtech soon developed their own mobile casino platform in 2005. As rhe result, these platform become the most reliable for users and players.

This Industry Finally Met Blockchain

At the same time, in how the Gambling come popular, Blockchain Technology has been acrossing our lives.

Blockchain and CryptoCurrency connected in several industries and made them up to the next level.

When we say Blockchain, it makes every payment or everything fast, advanced and secured and the Gambling and Betting industry is one of those industries adopting blockchain. Indeed there are countries like Malta , that was also known as Pioneer in the Gambling Industry, already planning to legalised the use of Bitcoin as well as the other crypto currency for their online casinos.

Looks promising, but how can the Blockchain technology will change the Gambling and the Betting Industry? will it be for the good, or for the worse?

1. Decentralization. Adopting Blockchain leads you to Democratization that will creates a value.

2. The Transparency and Trust. I know you will agree with me, Transparency and Trust is the most important in all aspects. And the online casinos loose it as it was used for some tricks and scams. Blockchain will creates a trust among the customers enabled them to bet with the confidence. It will never be tricked and manipulated because the Smart Contracts will verify the records that was shared by the ledger.

www.gutshotmagazine.com
Gambling and Betting is 50- 50, it’s risky! You may win, you may loose! But still many people got addictive with it hoping for positive result. We saw how Blockchain Connected with this Industry. As a matter of Fact, I saw many Blockchain start-ups project about gambling and betting, and what like how risky is this industry, Those projects are so risky too. Some of them got successful and Many of them is not. There still newly born projects and one of them is Betbox.

With a 4.3 ratings on ICO Bench , I ended up into this project where Both Stefan Godly the CEO and Marc Weyermann the CTO Passed the KYC. So it be more interesting. What is Betbox? How is it going? Ok please allow me to introduce Betbox to you! Here are the Key and let us dive in!

WHAT IS BETBOX

The name describes what the protocol is about. It will be a global workbench (box) for monetarized events (bet). That's where the name BETBOX lies

Betbox is a decentralized, transparent, and a P2P network betting platform aiming to foretell the present challenges that the players facing while providing the safe, smooth and a continuous comfortable platform to the bet.

Ecosystem

Betbox is a decentralized, transparent, and a P2P network betting platform aiming to foretell the present challenges that the players facing while providing the safe, smooth and a continuous comfortable platform to the bet.

• VOTING REWARDS: The user’s who’s participate in the voting for finding consensus will rewarded with ETH that will be based in how much will be the amount that will receive by the community members depends on reaction time, the amount of ETH staked, and number of the participants that participated in particular bet. The rewards will be sent automatically through BetBox smart contract.
• FAIRNESS REWARDS: This category, is for their community members who lost the bet. Yes it’sa win win here in Betbox! If you loose, then you still have incentivized that will be distributed automatically too.
• CONTRIBUTING TO THE NETWORK: If you like talking or if you’re board, then dont hesitate to become active here as they gave it for active members that constantly contribute to success of the Betbox and be rewarded for the hardwork that they showing . active members that constantly contribute to success of the Betbox and be rewarded for the hardwork that they showing .
• PERFORMING ACTIONS: This one is for those sharing ideas for the better development of Betbox. The members that gave expertise and knowledge will be incentivized also with OX tokens.

ADVANTAGES OF USING BETBOX PLATFORM.

All the Bets can now be placed by the public or even by friends. This sounds really interesting, we can create any question and then create a bet from it. You can play private bets with friends and results determined through crowd collective intelligence using the betbox single voting node mechanism.

• You can also set-up some challenges and you can get rewarded 10% of jackpot as reward.
• A Live feed that functionality allowing you to see what was happening at the any point at a time .
• A Security for the user’s wallet with the latest security function.

The Betbox Ox token and Ox-Node program.

They use the acronym for BETBOX "OX" and created a native crypto currency token as their fuel. The OX was an erc-20 compatible token. They will be using the OX Tokens as tge MOP when placing the bets, in staking, voting and other payments around this ecosystem. The OX was an erc-20 compatible token.

The OX-Node program is the NODE of the Betbox where the holders of OX can be part of the staking process. This program will be limited, indeed based on what I have read at their Lightpaper on the page 12 and 13, all of the commission's that will produced by the Betbox on their OX-Sidechain will spread proportionally in all the participants of their OX-node program.

Did you know that the OX token has no maximum supply? Maybe sounds crazy for anyone but, how is that happen? how can we get more OX?

Not just it has an unlimited supply, OX was also the first ERC20 that was based on the proof of activity (POA) minting consensus.

BUY BACK & BURN PROGRAM.

As I noticed in some passed projects I encountered, these thing was the most requests by the investors after listing. And maybe this will be one of the Betbox strategy to maintain their price as it has no total or max supply. Do you agree? hmmm...

By the way, the process was the Holders send their OX into previous published smart contract and that contracts may have timeframe before the buyback and burn will be now execute. Again it's not mandatory. It can be happen 4times a year. They will published everything about this on their channels and social medias in the name ofcoarse oftransparency and they will distribute tge profits proportionally to all participants.

WHO'S BEHIND THE BETBOX?

As what I say before where both CEO and CTO of Betbox passed KYC on ICO Bench, it will be the start of humours that this team was real.

The team have been to IDACB Nigeria, crypto summit zurich, blockchain summit Malta, UCIM singapore and the blockshow asia.

R0ADMAP

AUTHOR’S FOREWORDS.

You know bet365 betfair? I actually think first that it was same, But after reading everything about it, It's a total different. Actually I can think of a ecosystem which is combinging a monetized social media feed with gambling and lottery features, but I found out that they will also develop traditional betting features in the future, unfortunately, for now They can integrate 1x2 bets, p2p bets, group bets, public bets, but it is with social odds and not like bet365 where ahh we get an exact qutation for a specific timeframe.

For more information about This new born project, Visit Betbox Website and Betbox Lightpaper. You can also directly contact them on their Betbox Mail and to the BetboxTelegram

*Author,
CzaiQueenbee *