Better Betting-Betting Currency of the Future

rebecca01 (8)in #cyptocurrency • 6 years ago

Right now, the world of cryptokurensi increasingly in the interest of many people. cryptocurrency was born caused by the development of the times to facilitate people transact in the digital world, we know itself is very busy that utilize the world of internet for ease of transactions or other. In the midst of the hustle and bustle of the world cryptocurrency was born a project that is so promising and also be expected, its Better Betting.

The global regulated and unregulated gambling market is forecast to reach $533 billion by the end of 2017 with sports betting the highest contributor. That represents a 47% increase from the $363 billion market figure a decade earlier in 2007 according to Global Betting and Gaming Consultants.

The Global online sports betting market is valued at $205 billion as reported by Statista and the gross gambling yield of the regulated global football betting market alone is expected to reach $80 billion.

According to Technavio, 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. One of which being large sporting events such as the upcoming FIFA World Cup 2018 in Russia as well as many other major sports events that take place around the world3.

$3-trillion — the value of the global sports betting market according to a UN conference on crime. However, the vast majority of that is generated by unregulated gambling4.

What Is BETTER BETTING ?

BETR — the betting crypto-currency that will establish truly decentralised sports betting on the internet. Providing a Global Betting Liquidity Pool, BETR is being built by gaming industry veterans, for the industry. BETR will become the exclusive crypto-currency of some of the world’s leading gaming operators.

Why Better Betting

BETR is different. It is the betting crypto-currency that will establish truly decentralised sports betting on the internet. With BETR providing financial security true peer-to-peer betting becomes possible on the internet with entities that have no prior relationship. Using blockchain we are able to provide sportsbook clients that operate with no human or business entity in the middle. The system is safe, the software and transactions are provably fair and robust. Add on the ease of paying for a bet through BETR currency and the fact that you can make larger bets, and you can see why BETR Betting is the future of betting.

· Peer to Peer betting with no central party

· Provably fair and unbreakable

· Applicability to other gaming activities

· All software will be open source and available for free

· Access to betting in more jurisdictions

· Access to much larger bets — global betting liquidity

· No risk to punters from underfunded operators

· Designed by the industry for the industry

BetterBetting — Adriaan Brink — Hypethon 2017

Components of a Distributed Model

Escrow and Resulting/Settlement

Authentication

The Better Betting Node

Different views based on target market

Better Betting Node Software

One Application and Two Linked Systems

Better Betting High Level Design

The BBN is a downloadable application which is installed on the user’s device and incorporates an ethereum wallet. It is similar to a blockchain application in so far as it operates without central servers and the nodes communicate with each other to maintain the state of the database. BBN does not need to store data indefinitely, and that is one aspect that sets it apart from standard blockchain networks where every node (or miner) stores a complete copy of the transaction ledger. By creating the BBN to be meet the precise technical requirements of the Bet Creators, the Bettors and API clients, the application will be fast and will not have 3rd party costs to run. In its interface with Ethereum for creating and resulting bet contracts, the BBN will restrict the Ethereum costs to a minimum whilst still maintaining the decentralized nature of the application.

The ICO

The system will be funded through the issuing of a betting token (BETR). BETR will be capped in terms of the total number of tokens that can exist and will be issued according to the following schedule:

https://www.minds.com/fs/v1/thumbnail/862988268362932224

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

There is a hard cap of 650M tokens to be produced. In the event that the token sale does not raise sufficient funds the hard cap may be reduced.

Founders & Staff 24%

Early Stage Investors 5%

Advisors & Bounty 7%

ICO 55%

Reserve Fund 9%