BETTERBETTING using smart contracts based on Ethereal's Blockchain maintains an agreed bet contract and also has custody actions and responsibilities. Once completed, the contract will be notified and the bet will be submitted to the Bet Offer author or the responsibility will be transferred to Bettor. In the event of a stimulus or refund, shares are returned to bettor and liabilities are returned to the Public Offering.
The Better Betting Foundation relies on effective technical implementation to achieve its goal of providing Global Betting Liquidity Pool. Along with the development of business needs, technical inquiry has been conducted with the aim to find the optimal technical solution. In essence, the intention is to provide a pool of global betting liquidity for use by targeted market creators and bettors. In principle, anyone can make a Bet Offer based on a real sporting event, this is more traditionally known as a bet.
Each Bet Bet will be grouped by market and event and listed in a searchable directory. Bettors who want to place bets can then search in the directories and find the bets they want. The betting acceptance process then involves blocking Ethereal to maintain an agreed bet contract which also has shares and liabilities in escrow - the system will use self-issued token bets (BETR). When the event is over, the bets associated with the event can be completed. To settle the bet, the result of the selection should be determined.
The smart bet contract will contain information about the parties that will supply the results of the selection. In the case of bets offered by these sports books generally the Bet Offer Creator (bet bet). Another solution is to direct a third party to the results (this could be a data feed) or point to a custom third-party node that is a knot node - it will be completed according to a set of rules based on all other similar settlements.
Why Better Bet?
- See colleagues bet without center
- Very fair and unbreakable
- Application of other gaming activities
- All software will be open source and available for free
- Access to bets in more jurisdictions
- Access to a much larger bet - the liquidity of global bets
- There is no risk for passengers from underfunded operators
- Designed by industry for this industry
How does it work?
There are two sides that bet, in our opinion, we call the part that makes the bet 11 as a BAT manufacturer (or install it). Traditionally it will be a sports book, but in our case, no one can be a producer. On the other hand, the offer bids from the section (or parts thereof) are called milkshakes.
From the gambler side, they basically want to see a list of sporting events and gambling options with the available obstacles and limitations. By selecting a condition option and applying a quantity condition, you can create a condition. For BET Creators, they want to be able to create a series of bid conditions with betting options, opportunities and ratings (maximum risk risk) and put them in the betting directory so Batterer batter can count them first. It is estimated that a standard Bbn API will be created, allowing Creative Beat to integrate directly with its own system, so creativity offerings can be automatically offered.
It is important to know above this system that when the game is scheduled and when the results will be performed, the APIs available for sports books can be used to add BSB samples and data feed providers. This will facilitate the creation of automatic events, markets and choices, and can also make the results convenient. One of the main features of the directory is to provide an ID. Event, Market and Selection so that event data can be combined with the betting system. The activity ID will include the identification of the primary feed provider and may include the creator ID.
One Application and Two Linked Systems
The Ethereum Network will be used for the management of bet contracts and BETR tokens and interfaces to other systems on it to provide UX to Offer Bet and Bettors by running the betting directory service as a distributed database. This system we call 'Better Betting Node' (BBN).
BBN is a downloadable app that is installed on a user's device and includes an ethereum wallet. This is similar to blockchain applications as far as operating without central servers and nodes communicating with each other to maintain the state of the database. BBN does not need to store data indefinitely, and that is one aspect that distinguishes it from standard blockchain networks where each node (or miner) stores a full copy of the transaction ledger.
Marketplace Market
regulated and unregulated global gambling is expected to reach $ 533 billion by the end of 2017 with sports betting the highest contributor. That's a 47% increase from the market figure of $ 363 billion a decade earlier in 2007 according to Global Betting and Gaming Consultants1.
Global online sports betting market is worth $ 205 billion as reported by Statista and the gross gambling results of a self-regulated global football betting market is expected to reach $ 80 billion2. According to Technavio, the global market for online gambling has risen at a significant growth rate during 2010 to 2016 and projections are made that the market will maintain a growth rate over the next five years. This growth has been estimated considering past growth patterns, growth drivers and current and future trends. One of them is major sporting events such as the upcoming FIFA World Cup 2018 in Russia as well as many other major sporting events taking place around the world3. $ 3 trillion - global sports betting market value according to a UN conference on crime. However,
In a report from Global and Gaming Consultants, Asia is the largest market for gambling and sports betting in particular. It has grown at a consistent rate of more than $ 40 billion. In China, up to $ 1 billion can gamble in one soccer game. It is estimated that there is an unregulated sports betting market about $ 180 billion per year in China alone and $ 60 billion a year in India dominated by cricket5.
Ultimately, sports betting has become the fastest growing market segment in online gambling around the world. We believe that online sports betting markets offer the chance of using coins far beyond the many other ICOs currently offered. Our goal is to be the # 1 platform for crypto-currency gamblers to bet on sports.
Sales Token
The development and marketing of the system will be funded through the issuance of token bets (BETR). The number of BETR tokens is difficult to close, with an increase in liquidity facilitated by an increase in token value. There will be an early bird bonus system built at ICO to provide an initial investment incentive, according to the following schedule:
Backup for future publications
The token reserve fund will be created as part of the initial token event to be sold on the market based on the foundation's consideration. This reserve fund is not more than 10% of the amount issued at ICO and will be trusted and not released at least 12 months. No further evidence will be made other than the ongoing maintenance token.
Ongoing Maintenance Token
Ongoing maintenance evidence will be conducted periodically by the foundation and sold on the market to supplement the burnt tokens as part of the transaction fee. The transaction fee will be based on the underlying gas price consumed by the transaction and will be set per transaction regardless of the amount of the bet.
Cap Hard $ 30 million
Once the $ 30 million ICO sales target is reached, there will be no token sales beyond the care token and the reserve fund. Total token pool is limited to 650,000,000
Roadmap
650.000.000 Token - The amount of BETR is limited and can not be increased after ICO.
Design and Setup
October 30, 2017 - Preparing for launch, PR, Corporate Technology.
General Sales
December 15, 2017 - Begins General Sale
Betting API Launched
March 2018 - The Initial Betting API defines the Token Encapsulates API. Bets can be placed using tokens
Authentication and Identification
July 2018 - Launch of Applied Layer of Authentication Introduction
Bookie Dapp
September 2018 - The reference code for the Bookie app is released
Directory V2
October 2018 - The correct decentralization comes to the Directory
Launch and Presales
22 November 2017 - Public Announcements, Live Sites, Active Marketing begins. Presales began to institutionalize. Count down to General Sales.
Tokens can be traded
January 2018 - End of End to Public Sale if not soon to end Tokens can be traded within 2 weeks
Directory V1
May 2018 - First version of Better Betting Node released
Bet on Dapp
September 2018 - The reference code for Dapp bets is released.
Work team.
Adriaan Brink
Ian Sherrington.
Hilly Ehrlich
Mitchell Rankin
Consultant.
Ronnie O 'Sullivan OBE
Jon Matonis
Jez San OBE
Eric Benz
David Vanrenen
Rasmus Sojmark
Michael Caselli
Dennis Van Maanen
For Further Information please visit Links below:
WEBSITE: https://betterbetting.org/
WHITEPAPER: https: //betterbetting.org/BETTER_BETTING_Foundation_White_Paper.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=2582662
Author: Gunawan82
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=966506
ETH: 0x0355d1379e9Ffb7ED11D6Eeb109567E0b6Dc69c1
For Further Information please visit Links below:
WEBSITE: https://betterbetting.org/
WHITEPAPER: https: //betterbetting.org/BETTER_BETTING_Foundation_White_Paper.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=2582662
Author: Gunawan82
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=966506
ETH: 0x0355d1379e9Ffb7ED11D6Eeb109567E0b6Dc69c1
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