We all remember Leicester's miraculous run in the Premier League which was dubbed as 1:5000 by popular media. They had barely avoided relegation in the previous season and went on to win the league the next season. If you had bet 1 pound on them, you would have got 5000 pounds at the end of the season. However, if you would've bet this money on Goal Bonanza, you would've gotten more than this money. At Goal Bonanza, more the number of people placing a bet, the higher are the potential returns, unlike traditional betting. The global betting market is worth around $3 trillion, of which $1.95 trillion is the football betting market alone. Illegal betting is at large in the Asian market, where the ratio of legal to illegal bets can reach peaks of 1:10. Goal Bonanza works on Ethereum blockchain and plans to disrupt mobile betting market by introducing their mobile app which will let users bet on football matches. The returns will be huge and unmatched.
TRADITIONAL BETTING
In traditional betting, there are three things you can bet on:
Full Time Result (Win, Loss or Draw)
You can place your bet for a team to win, lose or you could go for a draw. You returns depend on if you made the correct prediction. This is the most common type of bet.
Goals Scored
The bookmakers quote a number, and you have to predict whether the total number of goals scored will be more or less than that number. This is the 2nd most popular type of bet.
Final Score
You have to correctly predict the final score for you to be able to win. These bets offer the highest returns since there are many possible outcomes.
The odds set by bookies include their margin meaning they price markets in their favor with unfair odds. Bookmakers effectively make money by building in a margin in to their odds.
GOAL BONANZA
At Goal Bonanza, you place your bet on at least 1 out of 10 options in a lottery like format. The lottery size and eventual returns depend on the number of participants.
For example, 80,000 players wager a total of 100,000 tokens worth $1 each, on a single football game. 180 tokens are wagered on 0-0, a scoreless draw. If the game ends 0-0, the players that wagered those 180 tokens will split the winnings proportionally. Every winning token generates a return of 555 tokens or $555. You can also bet on more than 1 option to increase your chances of winning. This is known as hedging.
SPECIAL FEATURES
Goal Bonanza will also reward players to complete different tasks. Players level up as they place and win more and more bets encouraging them to play more. Leveling up will unlock different privileges, tokens and new game features. You can also compete with your friends on the Goal Bonanza app. Veteran players can also participate in special games with big rewards for the winners. There is also a referral system where you can earn 1 token for every referral which can later be used for betting on the Goal Bonanza app. Players will also receive badges for their achievements. All this is done in order to motivate players to bet more.
Account Levels
Badges and Rewards
ICO
The symbol for their token is GOAL and 1 GOAL=0.0002 ETH on launch date. Pre-ICO will take place from 1-OCT-2017 to 30-OCT-2017. ICO will be from 1-NOV-2017 to 30-NOV-2017.
One person can buy unlimited tokens during both pre-ICO and ICO and the minimum transaction amount is 0.5 ETH during both offerings. There is no limit on the maximum transaction amount.
REVIEW
Goal Bonanza is surely going to cause a stir in the mobile betting market. It is really different from traditional betting as it offers huge returns as compared to dull and low returns of traditional betting. Goal Bonanza, being a stateless and non-regulated cryptocurrency platform, is not subject to any regulatory or licensing requirements. Its gamificaition is different than other betting apps and offers a unique experience to its users. It is based on Ethereum platform and will use Ethereum as the in-game currency meaning all transactions will be in the form of Ethereum cryptocurrency. With Goal Bonanza, there is no chance of you being duped as everything is recorded on the blockchain, unlike betting with bookmakers. This will separate Goal Bonanza from other betting sites.
To Know more:
Whitepaper :
https://www.goalbonanza.com/wp-content/uploads/2017/09/Goal-Bonanza-White-Paper.pdf
Website : https://www.goalbonanza.com/
Writer's Bitcoin talk name : Kishan748