Jumat, 03 Agustus 2018

BETR

BETR
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The global market for online gambling has increased at a significant growth rate over the years 2010 to 2016 and projections are made that the market would maintain growth rates over the next five years. This growth has been forecast taking into consideration the previous growth patterns, the growth drivers and the current and future trends. Online sports gambling has become one of the fastest growing markets in the world that evokes the need for a platform where online gamblers can place bets without fear and transparency. BETR is a decentralized block-based gambling platform that supports peer to peer transactions. Incorporating cryptocurrency and sports betting will undoubtedly revolutionize the gambling industry and will completely change the method of payment. One of which being large sporting events such as the ongoing FIFA World Cup 2018 in Russia as well as many other major sports events that take place around the world3, therefore the future of betting is BETR. before i continue let us look at the video below
INTRODUCTION
BETR is a utility token for a specific market: sports betting. The price of the token is determined by the size of the market and the number of tokens out there. Ultimately, sports betting has become the fastest growing market segment within online gambling worldwide. We believe that the online sports betting market offers opportunities for coin usage that far exceeds many other ICOs currently offered.

GOALS
To become the number 1 platform for crypto-currency gamblers to bet on sports.

FEATURES:
Peer to peer betting platform
Competitive sports betting products
Open source system
Easy payment
Directory services
Sync service
Confirm the transaction
Automatic API for betting
There is no third party involvement

PROBLEMS
Lack of security
Lack of privacy
Extortionate fees and low returns

SOLUTION AND WHY IS DIFFERENT FROM OTHERS
Peer-to-peer Betting with no central party
By providing a robust escrow and settlement service between 2 parties who do not know one another and have no common operator the system provides access to betting opportunities that did not previously exist.

Applicability to other activities
A transaction does not have to comprise a bet – the same system can be used for any activity where funds are escrowed prior to a result and then settled to the winner (e.g. A game of poker) although BetterBetting will initially focus on betting.

Provably fair and unbreakable
The software and transactions are provably fair and robust. Punters need to know that they will be paid their winnings – no questions asked!

Instant access to winnings
Winnings are distributed as soon as a bet is resulted and available in instant crypto funds for use as the owner sees fit.

Access to betting in more jurisdictions
Most jurisdictions that prohibit sportsbooks focus on the operator as the entity to be licensed. Individuals wishing to bet do not break the law provided they do not bet with an unlicensed operator. With this system the bet is always with another individual – there is no operator.

Access to large wholesale bets
There is a massive market for betting where the amounts exceed those that individual operators are prepared to risk. This system will provide the liquidity to enable these bets to be placed – there are no system limits. Bets are pooled so many parties can match a single bet.

Ease of funding for betting
No more credit info-cards, wire transfers and other outdated payment mechanisms. BETR (Betting tokens) will trade on major crypto exchanges and can always be bought and sold against tokens such as Ethereum.

No requirement for a regulated entity
As there is no central intermediary there is no licensable entity (such as a bookmaker or exchange). This does not mean that bookmakers and exchanges cannot participate in the action but they would simply be another entity on the system.

BETTER BETTING MODEL
Laying bets
Everybody can lay a bet using BetterBetting’s unique peer-to-peer technology. Sportsbooks and exchanges can integrate the logic into their backend using the API and individual users can lay prices using Layor UI provided by BetterBetting. BetterBetting nodes use Ethereum smart contracts to store the layed bets to Ethereum blockchain. The contracts will contain the information of the bet offer including layors liability data and the bet settlement information.
Fundamentally, the intention is to provide a global betting liquidity pool. Each bet offer will be grouped by market and event and listed in a searchable directory. Bettors wishing to place a bet can then search the directory and locate the bet they want.

Authentication
While parties may remain anonymous it is intended that this system can also be integrated with existing sportsbooks or exchanges. In this scenario placing a BETR bet may require an account at the counterparty – bets that are offered may be flagged as requiring an account and authentication.
The process of registration and authentication would also imply that those bets would not be pooled with others. BetterBetting intends to introduce a distributed authentication mechanism to facilitate the offering of bets by entities that require player accounts.

Escrow and settlement
When a BETR bet is placed an amount is agreed between the bettor and the layor and then funds from either side are escrowed until the underlying event has been resulted, at which point the bet is settled in favour of the winner. Placing a bet entails two important functions. The first is to hold the funds from the time that a bet is made until it is settled. The second is settlement in favour of the winner.
BetterBetting intend to cater for number of different resulting systems:

Settlement will be at the discretion of the layor.
Consensus settlement, in the same way that the blockchain is kept inherently honest by all parties agreeing.
3rd party settlement using a service which will provide resulting and arbitration

ICO
Tokens will be issued at ICO value
ICO token value is set to US$0.10c per token–to be priced in ETH and BTC at an exchange rate at the time of ICO.

24% of tokens issued will be to founders and the team.
7% of tokens issued will be for advisors and bounty.
5% of tokens were sold to early stage investors
There is a hard cap of 650M tokens
ICO AND TOKEN
A minimum $2M, maximum $30M will be raised through issuing of tokens. These funds will be used for
•Development and release of the better betting protocol
•Development and open-sourcing of dapps and node software
•Marketing to key stakeholders and consumers
•Legal and administrative costs
ROADMAP
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THE TEAM
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ADVISORY BOARD
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For more information, Please visit the website:
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