Genesis League Goals is making a full revamped this year and one of the things the team has been developing is a Prediction Market that enables each players to participate in a sports-betting like platform. The idea is very simple:
This Prediction Market website
The team will show feeds of games from all over the world. I think initially they will start with US-based games like MLS, NFL, NBA? I'm not exactly sure on the games but they mentioned it will start in the US.
All GLS users are allowed to pick which side of the two teams they would pick. There will also be odds among the teams to pick.
Everyday, a pool of GLX is given for the prediction market. These GLX will then be shared among users who participated in the Prediction Market game. Of course, the GLX distribution will only be given to the users who predicted correctly.
The amount of GLX received for each user depends on their staked GLX, the odds of their predictions, and if they predictions are correct.
Works Like Hive Power
I think this will revolutionize the betting industry and I think this will attract users. The idea of stake-based voting isn't new for everybody and incorporating it into the Sports betting world will attract masses.
What do you think? Will this finally be a feature that will attract users? Splinterlands gained a massive respect to the community by being one of the top P2E games. I'm still optimistic with GLS. In fact, my team is ready to compete amongst the best. I'll be participating in this week's tournament.