BETR - An ICO cryptographic coin to create a betting currency that actually offers decentralised sports betting on the internet in order to provide a Global Betting Liquidity Fund service.
Overview Overview Overview
This paper presents a new Methodology for the use of technological knowledge in decentralized operations, promoted by Bitcoin and other cryptographic currencies, for the implementation of a decentralized protocol of sports betting among peers. The new protocol will be open source and it is expected that over time multiple disparate software interfaces (such as Bitcoin wallet's many current tastes) will be developed using the same common protocol with its underlying cryptographic currency.
The problem
The online gambling industry has lacked novel ideas for some time. Betting is overwhelmingly in favor of the bookmaker, payment methods are obsolete and players who win are regularly limited or banned. There is a lack of security, lack of privacy, exorbitant fees and low returns, all these factors are elements that discourage gamblers or lead to illegal gambling.
The Solution - Why BETR Betting is Better
BETR is different. It is the crypto-currency of bets that will establish a true decentralised sports betting betting on the Internet. With BETR offering financial security, real bets between equals are made possible on the Internet with entities that have no previous relationship. Using blockchain we are able to offer sportsbook customers that operate without people or companies in the middle. The system is secure, the software and transactions are probably fair and robust. Add the ease of paying a bet through the BETR coin and the fact that you can make larger bets, and you can see why BETR Betting is the destination of the bets.
Advantages
Peer to Peer bet without central bet
Applicable to other activities
Open source systems
Access to the most important bets - the wholesale angle of sale
Verifiably fair and unbreakable
No risk for customers of underfunded operators
Funding for placing bets
Direct access to benefits
Authentication
While the parties may remain anonymous, it is intended that this system can also be integrated with existing books or sports exchanges. In this case. Placement of a bet may require an account with the counterparty - the bets offered may be marked as requiring an account and authentication.
Ultimately, the protocol will include a distributed authentication system to facilitate the offering of bets by entities that need player accounts.
General Market
By the end of 2017, the global regulated and unregulated gambling industry is expected to reach $533 billion and sports betting is expected to become the largest contributor. This represents a 47% increase over the $363 billion recorded a decade earlier in 2007, according to Global Betting and Gaming Consultants.
The value of the international online sports betting market is worth 205 billion dollars, according to Statista, and the gross betting yield of the world football industry is expected to reach 80 billion dollars.
According to Technavio, the Internet gaming industry has grown at a considerable rate between 2010 and 2016 and is expected to maintain growth rates over the next five years.
The ICO
The system will be financed by issuing a betting voucher (BETR). The BETR shall be capped according to the total number of tokens that may exist and shall be issued in accordance with the following schedule:
We will seek to list the BETR in as many cryptoexchanges as possible, making seamless exchange and at a price in line with market prices. Thus, for example, the initial issue may be limited to $50 million at the time of issuance. In the event that $500M is in play at any time, the price of each coin will have to increase from 10c to $1 to accommodate the increased volume.
The use of currencies is fundamental for any ICO - we believe that the betting market offers possibilities for the use of currencies that far exceed many other ICOs currently offered.
Continuous Maintenance Tokens
The Company will periodically create continuous maintenance records and sell them in the market to replace records that will be burned as part of the operating fees. The transaction fee will be
based on the price of the underlying gas consumed by the transaction and will be set per transaction regardless of the amount of the bet.
The work team.
Adriaan Brink
Ian Sherrington.
Hilly Ehrlich
Mitchell Rankin
Consultants.
Ronnie O' Sullivan OBE
Jon Matonis
Jez San OBE
Eric Benz
David Vanrenen
Rasmus Sojmark
Michael Caselli
Dennis Van Maanen
Links.
Web: https://betterbetting.org/
Twitter: https://twitter.com/BETRBetting
Facebook: https://www.facebook.com/BETRBetting/
Youtube: https://www.youtube.com/channel/UCFvNUWRiedqvcpNHqLnDAXg
Ann: https://bitcointalk.org/index.php?topic=2582662
Telegram: https://t.me/joinchat/HNsEWQ-L0aCjHMsmKW-d_w
By Bitcointalk user: vaquero1
Profile: https://bitcointalk.org/index.php?action=profile; u=1582298
Myetherwallet: 0x2bc7793C7B6478255f09b3A2ceF0e73BbfE1301B
by vaquero1