Introducing BetMatch – a blockchain-based crypto betting solution

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Introducing BetMatch - a blockchain-based crypto betting solutio

The project’s top priority is fraud protection and
bookmaker’s activity transparency (users can always verify the platform’s
account balance). You can bet that betting will become more innovative.

People have been making bets since the earliest of times. In
Ancient Greece, spectators used to bet on the Olympics’ participants, while in
Ancient Rome – Romans used to bet on gladiators and chariot racers. Back then,
people placed bets by agreeing with each other. Bookmaking as a business
originated in Britain two millennia later. Throughout history governments
limited or even prohibited betting and gambling, as they took the matter very
seriously. Betting industry boomed in the 1990s as bookmakers started to accept
bets via the Internet.

Crypto-betting is secure, fast and transparent.

Typical betting platforms share the same problems, such as
opacity, geographical payment limitations and necessity to trust site owners
who might fix the odds or refuse to pay-out the winnings. All these problems
can be easily solved by implementing blockchain and cryptocurrency into the
core of a betting system.

In the majority of cases, gamblers are not able to keep track of the funds and trace the bets in a blockchain. Such bookmakers use cryptocurrency only for client generation and do not make the next step. 

Blockchain technology can offer a solution that can break
this cycle of mistrust and create a new standard for online betting. BetMatch
project utilizes such a solution and offers betting based on blockchain technology.

BetMatch is a decentralized betting house that combines a classical business model based on traditional betting abiding by an unbiased paradigm that uses blockchain technology with a social betting network as the second (community-based) layer. BetMatch’s architecture offers several features that work together to create a safe and transparent betting system:

– elimination of the human factor and third-party influence
on bet processing, results displaying and winnings pay-out

– all bets are unprecedentedly fair and transparent due to
the use of blockchain technology

– cryptocurrency-only bets, which means no more payment
systems’ fees on deposition and withdrawal or immense charges on the winnings

– “bookmaker’s guarantee” is replaced with “smart-contract”, which means that all the bets will be instantaneous and pay-outs can’t be delayed or canceled

– using internal tokens for betting can reduce the internal
fees twofold

BetMatch uses XBM internal tokens (Ethereum ERC20 standard).
Using these for betting, users can drastically decrease the internal fees or
even cash out said fees on top of the winnings. Users can also lease the XBM
tokens to the users in need for a small percentage of their winnings. XBM
tokens will also be awarded to active and useful members of the community, such
as experienced forecasters or outstanding sports analysts. The token is listed
and can be purchased on Latoken exchange (https://latoken.com/ico/ETH-XBM),
Crex24 (https://crex24.com/exchange/XBM-ETH)
and betmatch.io. The token has grown 500% since its launch.

Players using centralized betting systems risk losing their
money, as the company itself decides how much will be paid-out in the end.
BetMatch with its combined business model, however, is designed to create a
long-term solution for modern cryptocurrency-based betting systems.

Funds are deposited on a smart-contract which automatically transfers currency for betting on the user’s account and pay-out is guaranteed by a dedicated liquidity pool the balance of which can be verified at any given moment. Every 100th block containing data on the private blockchain activity is uploaded to Ethereum public blockchain. That allows the system to operate with high speed but also provides security, decentralization and fail-safety. Enjoy secure betting on BetMatch.io.

This is a paid-for submitted press release. EWN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. EWN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

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