Bx.Bet: A Simple and Profitable Betting Platform
Predictions on the results of sports competitions is a favorite entertainment for hundreds of fans and a profitable business for bookmakers. Traditional online betting platforms abound with commissions, unclear scoring schemes and do not inspire trust among users. How can the blockchain improve the situation?
Developers of the Bx.Bet ecosystem offer an open platform for making direct sports bets. The ecosystem operates on the principle of a peer-to-peer network, so each participant can become a bookmaker. Bx.Bet offers to bet on the open (accessible to all participants of the platform) and closed (accessible by invitation) markets. This approach protects the system from scams, allows you to accept bets only from friends.
How Does the Bx.Bet Ecosystem Work?
The technical basis of the project is smart contracts that describe the conditions for buying or making (selling) bets on the outcome of an event. When the match is over, the winnings are transferred to the user's inner wallet. The final commission for the withdrawal is 4%, the amount "is withdrawn" by the smart contract. Developers identify five advantages of the ecosystem.
1. Betting exchange - the tool for accepting bets and withdrawing winnings that provides a pool of liquidity on the platform. Bx.Bet conducts a vote for participants to determine the likely outcome of the sporting event and protect users from "high expectations".
2. Fee structure - the fee for the withdrawal of the winnings is evenly distributed among all parties of the transaction. Bookmaker, developer, platform, market owner, and withdrawal system receive 1% of the winning amount.
3. Smart contracts - the participants' wins are automatically transferred, their amount is stipulated in contracts. The approximate amount of profit is determined by voting, so the percentage of unsuccessful rates decreases.
4. Market owner - on the Bx.Bet platform, everyone can take bets from a selected number of participants or all users of the ecosystem. This approach creates competition between bookmakers, allows you to bet on the outcome of any sporting events, from world championships to friendly matches.
- Oracle - the ecosystem allows conducting voting before making bets, determining the expected size of the winnings. The tool is especially useful for beginners in the world of betting.
The technical feature of Bx.Bet is the function of Superuser voting. Participants with a high rating predict the total amount of the win at each event if the prediction comes true - they can receive up to 10% of the funds received, depending on their bet.
An accessible interface, low commissions, the ability to accept bids from selected users and discuss projections attract investors' attention to the project. Work on Bx.Bet started in mid-2017, the MVP model was ready in the first quarter of 2018. The launch of the mobile version is scheduled for mid-2019, the full version of the project will be released in the third quarter of the same year.
Crowdsale and Project Perspectives
It is planned to collect from $5 to $ 20 million (soft and hard caps of the project) during the ICO, the developers released 200 million BX tokens according to the ERC20 standard. The BX rate is 19 cents per coin, the sales are held in four rounds from October 15 to December 17, 2018.
The main volume of BX (60%) will be realized during the ICO, 15% will be a reserve fund for the development of the project, 10% will be transferred to the team and advisors, the remaining 5% will be invested in Bounty to attract the attention of the community. Half of the financial resources are planned to be invested in the further development of the ecosystem, 25% will be spent on promotions, 15% will be operating expenses, 5% will go to pay legal and related services.
The Bx.Bet team strives to increase users' trust in sports betting, offering a transparent platform with a simple interface and wide functionality. Despite the fact that the niche is not empty-such a strong project will take its place in it and will please the participants of its ecosystem for many years!
Website: http://www.bx.bet/
WP: https://bx.bet/static/files/whitepaper.pdf
TG: https://t.me/bxbet
Author on BCT: Melnikof https://bitcointalk.org/index.php?action=profile;u=1152502
MEW: 0x3030231E48eA7f398455a6C02Ac28b062078c07f