BX.BET PROJECT ((ICO 2018))-THE DECENTRALIZED BETTING EXCHANGE

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INTRODUCTION:

Gambling is the wagering of money or something of value (referred to as "the stakes") on an event with Today, I will be presenting you a particular undisputed project called:an uncertain outcome with the primary intent of winning money or material goods. Gambling thus requires three elements be present: consideration, chance and prize. The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season.

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The term "gaming" in this context typically refers to instances in which the activity has been specifically permitted by law. The two words are not mutually exclusive; i.e., a "gaming" company offers (legal) "gambling" activities to the public and may be regulated by one of many gaming control boards, for example, the Nevada Gaming Control Board. However, this distinction is not universally observed in the English-speaking world. For instance, in the United Kingdom, the regulator of gambling activities is called the Gambling Commission (not the Gaming Commission). The word gaming is used more frequently since the rise of computer and video games to describe activities that do not necessarily involve wagering, especially online gaming, with the new usage still not having displaced the old usage as the primary definition in common dictionaries.

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Gambling is also a major international commercial activity, with the legal gambling market totaling an estimated $335 billion in 2009. In other forms, gambling can be conducted with materials which have a value, but are not real money. For example, players of marbles games might wager marbles, and likewise games of Pogs or Magic: The Gathering can be played with the collectible game pieces (respectively, small discs and trading cards) as stakes, resulting in a meta-game regarding the value of a player's collection of pieces.

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Gambling dates back to the Paleolithic period, before written history. In Mesopotamia the earliest six-sided dice date to about 3000 BC. However, they were based on astragali dating back thousands of years earlier. In China, gambling houses were widespread in the first millennium BC, and betting on fighting animals was common. Lotto games and dominoes (precursors of Pai Gow) appeared in China as early as the 10th century.

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Playing cards appeared in the ninth century in China. Records trace gambling in Japan back at least as far as the 14th century

Poker, the most popular U.S. card game associated with gambling, derives from the Persian game As-Nas, dating back to the 17th century.

The first known casino, the Ridotto, started operating in 1638 in Venice, Italy.

In reference with the motion of this article, Today, I will be presenting you a particular undisputed project called: BX.BET

WHAT IS BX.BET?

BX is a blockchain-based betting and prediction market ecosystem, designed to change the way the world bets.

BX has the vision to create a whole new betting experience, where any user can take over the role of the bookmaker, create their own markets, place and offer bets with self-determined odds, and even participate in the outcome determination of a market. All by using the BX Token, which is conceived to become the global standard for all betting transactions.

ABOUT BX.BET

BX is a global peer-to-peer betting exchange, where users can create or join public and private betting markets by using the BX crypto token. With the implementation of the blockchain power of the Ethereum smart contract technology, BX can cut out the middleman and give its users full control over their funds and betting transactions at all times. The BX ecosystem is secure, tamper-proof, trustless and completely transparent.

BX aims to become the leading platform for all decentralized betting and prediction applications. Unlike its centralized competitors, BX counters all the problems and weaknesses of the current betting industry. At the same time, BX can harness smart contract technology to significantly cut transaction and other operational costs, which leads to the low and fair fees which are set solely to keep the ecosystem running.

BX.BET FEATURES

POWER BACK TO THE USER: BX will allow betting markets to function independently of any middleman, by using the smart contract technology of the Ethereum blockchain. This enables the betting transactions to run autonomously. This, in combination with the creation of a betting exchange, has the positive side effect of making the entire betting experience more social again. By creating the private social bet feature, BX enables private bets as well as public betting markets. In the past, only betting against centralized companies and bookmakers was possible, but with BX, users will also have the opportunity to create private betting markets for closed groups, such as clubs, offices, organizations, or friends and family. Thus, the user becomes part of a social betting community. Various social interactions enhance the betting experience and convey the feeling of being part of a community, rather than just betting as an individual against a faceless operator. Peer-to-peer bet matching in this way takes betting back to its roots, as a competitive activity between equals rather than an interaction with a monolithic enterprise driven by profit.

DECENTRALIZATION: In contrast to regular betting platforms with centralized structures and middleman-oriented business logic, BX will allow peer-to-peer betting transactions as part of a unique decentralized ecosystem. BX will create all the necessary infrastructure to put the whole betting process and experience directly in the hands of the users. They can create markets, determine outcomes, and place bets, without the need for a middleman in form of a betting operator who doesn’t act purely in the interest of the players. Only the market forces within the community will ultimately decide which markets and bets get accepted.

FAIRNESS: As BX is a betting exchange, the odds are generated solely from the supply and demand of the users (comparable to the functioning of a stock exchange). This will eliminate the non-transparent and unfair odds determination that is common amongst traditional bookmakers. Within the BX ecosystem, the odds represent the probability of the occurrence of a specific outcome, based on the aggregated opinions of the users. The odds offered therefore represent a realistic and incredibly accurate probability of the outcome of the market

BX.BET SOLUTION

BX will change the current situation - eradicating all of these issues. With a decentralized blockchain solution, these centralized processes will be replaced by a trustless and distributed ecosystem running on self-executing smart contracts, powered by state-of-the-art blockchain technologies. Players will benefit from full transparency, while gaining total control of their betting experience. BX - the decentralized Betting eXchange - is a betting ecosystem that fulfills all requirements to act in the best interest of our users, by giving them full control of their actions and funds at all times. The decentralized structure of the BX betting exchange eliminates the possibility of a single point of failure. In combination with the betting exchange model, the BX infrastructure will facilitate a fully transparent and easy-to-use betting experience. We believe that centralized betting models will become quickly outdated, as users begin to fully understand the significant advantages of a decentralized model.

BX.BET ECOSYSTEM

BX ecosystem is running on the Ethereum blockchain. With the creation of special single-purpose smart contracts for every betting market, BX ensures a fully secured and highly scalable betting process. The BX platform allows its users to take on both sides of a particular betting market — the offerer (sell/lay), as well as the bettor (buy/back).

BETTING MARKETS

BX will offer two types of betting markets within the ecosystem: private and public markets.

Private Markets: are markets that are only accessible via a direct invitation from the market creator. The use-cases for this category are mainly bets within closed groups with people the creator already knows, such as friends, family or colleagues. It could also be used by bigger fan clubs or online communities from forums or social media groups. This innovative feature will create a whole new betting experience and bring a lot more people into the BX ecosystem. It’s a social betting feature, which gives users the opportunity to bet on literally anything without a middleman and without any fees.
Public Markets are listed on the public platforms, which makes them accessible to all users of the BX ecosystem. Every user has the opportunity to create new public markets and become a Market Owner.

BX.BET TEAM

BX.BET ROADMAP

BX.BET ICO ANALYSIS

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The ICO is a natural supplementary funding source to further accelerate the development and global adoption of the BX.BET PLATFORM

The BX token sale is divided into two phases. There will be a pre-token sale, where contributors can participate in the project before the main token sale starts. As an incentive to participate in the BX token sale at an early stage, there will be a particularly high bonus token payout to all pre-contributors.

To participate in the pre-token sale, a minimum volume of 300 USD is required. The main token sale will begin shortly after completion of the pre-token sale. The goal of this token sale is to facilitate a fair, secure and efficient token distribution and to introduce BX to the world.

BX.BET TOKEN ANALYSIS

The BX token is designed to enable the full functionality of BX, which makes it an integral part of the ecosystem. It is tradeable and can be divided into smaller fractions, thus fully serving the complex requirement profile of the BX ecosystem. The BX token will be the enabler for all BX betting applications. It will be utilized to conduct all transactions inside the BX ecosystem. The token is based on the ERC20 Ethereum token standard, which has become a widely accepted and highly secured token implementation standard.