Introduction
Gambling
Gambling is the wagering of money or something of value on an event with an uncertain outcome, with the primary intent of winning money or material goods. Gambling requires three elements to be present: consideration, risk, and a prize.
Gambling has taken place, in some form or other, for hundreds if not thousands of years, and is inextricably linked to the history of humanity. The first casinos or gambling houses appeared in Italy in the 17th century. The Ridotto was established in Venice in 1638 to provide a controlled gambling environment, and casinos started to appear throughout continental Europe in the 19th century. Ever since, gambling keep spreading and has become a lifestyle.
Bitfresh
The major problems in the iGaming industry is the lack of transparency and as a result, users distrust of traditional applications and online games. With blockchain, you can provide complete transparency, secure storage of user funds and non custodial gambling. This explains the growing popularity of gaming decentralized applications. In 2019, dApps from the gaming and gambling categories occupied the first six places in the ranking of the most popular decentralized applications.
A dApp is an application that runs without a backend in a decentralized computer system. E.g. On a blockchain, the dApp uses the main advantage; transparency, reliability and data immutability. DAPP (Decentralized Application) consists of a backend code running on a decentralized peer-to-peer network. No central server is required for DAPP to function. i.e. the interaction between users and providers is direct.
Bitfresh is a blockchain-based community driven social iGaming experience that pays dividends to the players. The platform is filled with reward systems to give players many ways to win and earn over time.
The emergence of blockchain technology and other digital assets has changed the way the world today now manages and conducts transactions. This technology has been adopted by various industries including the iGaming industry to improve on the existing method on which their day-to-day business activities are carried out. The transparency and immutability of blockchain technology helps creating a unique experience for players in the online gaming space.
Bitfresh uses blockchain technology to create a decentralized platform, where the gaming processes are efficient, transparent, and provably fair. Bitfresh will harness the maximum capabilities of blockchain technology to provide gamers with numerous advantages which include: increased security, full transparency, non custodial betting and dividend sharing.
Market
iGaming
iGaming Business is a business-to-business magazine focusing on the online gambling industry. Launched in 2003, and has two sister magazines - iGaming Business North America and iGB Affiliate. The magazine is a bi-monthly publication. Simply put iGaming is having a bet on the outcome of an event or game online, and these activities include poker, sports betting, online casinos with the largest share of the market being taken up by sports betting and online casinos.
iGaming consists of playing casino games, poker, and/or sports betting via the internet. Factors such as the advancement of available technology (for example smartphones and apps), the higher trust of gamblers paying online, and the increasing digitization of the world, are causing the iGaming market to be experiencing tremendous growth in many regions across the world.
The online gambling and chance industry are huge, with a market size of USD53.7 billions in 2019 for online gambling and USD 7.5 billions for online lottery. Europe dominated the market in 2019 with a total size of USD 22.0 billions. The gambling market is expected to grow at a compound 1 annual growth rate (CAGR) of 11.5% from 2020 to 2027, forecasting a USD 127.3 billion capitalization by that time. The convenience of a cashless mode of payment during gaming are likely to boost the iGaming market, during the forecast period.
Fair play²
Fair play is always a topic of discussion among Casinos and their customers, GVC started a fair play initiative in 2018 , while there is also a fair gambling codex that describes adequate terms of 3 operation for casinos and consumers . Blockchain gambling is also in the 2020 trend list.
Blockchain gambling
Gambling on the blockchain has been on the rise. With actors like Wink, BlueBet and Dice2Win averaging more than a USD 4 million weekly transaction volume each. From what is currently reported on sites like Dappradar the top 25 casinos Dapps average more than USD 50 million in weekly transaction volume.
Bitfresh Token Economy
Bitfresh Token (BFT) is a utility token for profit sharing and stakeholding. The BFT token acquires value due to the possibility of receiving dividends, which increases the interest and demand for this asset. BFT token is a BEP20-based utility token created for Bitfresh platform actions, with a max supply of 1,000,000,000. BFT token is the major means of exchange within the platform and has multiple applications like:
• Staking
• In-game currency for betting and payout
• Reward for participating in Bitfresh iGaming Ecosystem
• Cash back
• BFT tokens may also be exchanged for other cryotocureenecies.
In Bitfresh, users are rewarded for their time playing. while Game Developers grow their gaming community, earn crypto and get help from adhering services. Everybody wins. These tokens are the basis for the platform’s revenue sharing system through a dividend distribution.
| Token Name | Bitfresh Token |
|---|---|
| Token Symbol | BFT |
| Total Supply | 1,000,000,000 |
| Token Type | Bep20/eosio.token |
| Decimal | 18 |
Our vision is to be a community driven iGaming platform that makes constant changes and Iterations based on user feedback. Major reasons :
• To be recognized as the first truly community-driven iGaming platform.
• To grow and change as blockchain technology advances.
• Set an example of how a blockchain company should work with their community.
• Act as a stepping stone towards moving the iGaming industry in the right direction with provably fair gaming and true transparency.
Bitfresh is a good project for the crypto world. Everyone here will get good opportunities. We should all participate in this project. The team of this project is very active and the roadmap of this project is very smart.
All the successes of the project lies in the hands of the team and you. A very interesting project with specific goals.
Conclusion
Bitfresh is a blockchain-based community driven social iGaming experience that pays dividends to the players. You are rewarded for each time you login to play with the bitfresh token BFT and this token can be exchanged to other cryptocurrencencies. You should give it a shot. Join now
For more info :
Website: https://www.bitfresh.win/
Whitepaper: https://uploads-ssl.webflow.com/5fc83b25f02d4d6f1ffd7da4/5fd6d34753c1a12aa9ce02df_bitfresh_whitepaper.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=5302447
Telegram: https://t.me/bitfresh
Facebook: https://www.facebook.com/bitfresh.win/
Twitter: https://twitter.com/BitFreshWIN
Instagram: https://www.instagram.com/bitfreshwin/
Discord: https://discord.gg/a8ShwSe7ns
ABOUT AUTHOR
Forum username : Sammy9ce
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Telegrame : @Sammy9ce