$3-trillion - the value of the global sports betting market according to a UN conference.
CURRENT SITUATION
The online betting industry has lacked innovative ideas for some time. Odds are massively in favour of the bookmaker, payment methods are outdated and regularly winning players are restricted or banned. There is a lack of security, lack of privacy, extortionate fees and low returns, all of which are factors which either put bettors off or drive them to underground betting.
THE SOLUTION - WHY BETR BETTING IS BETTER
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.
https://betterbetting.org/
HOW IT WORKS
There are two parties to a bet. In our terms we call the party that creates (or lays) a Bet Offer a BET CREATOR. Traditionally this would be a sportsbook but in our case, anyone can be a Bet Creator. On the other side, the party that takes the bet offer (or a part of it) is called the BETTOR.
From the Bettors point of view, they fundamentally would like to see a list of sporting events and the bet options with odds and limits that are available. By selecting a bet option and applying a stake amount, the bet can be created.
For the Bet CREATOR, they want to be able to set up a series of Bet Offers with bet options, odds and limits (maximum risk exposure) and place them onto the bet directory so that the Bettors can then select them as above. It is envisaged that a standard BBN API will be created that will enable the Bet Creators to integrate directly with their own systems so providing automatic bet offer creation.
Above all this the system needs to know when the sporting events are scheduled and when they are resulted. To do this the same API that is available to sports books can be used to link instances of BBN and data feed providers. This will facilitate automated event, market and selection creation and may also facilitate resulting. One of the key features of the directory will be to provide Event, Market and Selection IDs so that the event data can be cross matched with the bet creators systems. The Event IDs will include major Data Feed Provider’s IDs and may also include Bet Creators IDs.
BENEFITS
Peer to Peer betting with no central party: By providing a robust escrow and settlement service between 2 parties who do not know one another and have no common operator the system provides access to betting opportunities that did not previously exist.
Applicability to other activities: A transaction does not have to comprise a bet – the same system can be used for any activity where funds are escrowed prior to a result and then settled to the winner (eg. A game of poker) although we will focus on betting initially.
Open source systems: Ultimately the software and standards that comprise the system will be open source and free for anyone to copy and use.
Access to much larger bets – the wholesale angle: There is a massive market for betting where the amounts exceed those that individual operators are prepared to risk. This system will provide the liquidity to enable these bets to be placed – there are no system limits. Bets are pooled so many parties can match a single bet.
Provably fair and unbreakable: The software and transactions are provably fair and robust. Punters need to know that they will be paid their winnings – no questions asked!
No risk to punters from underfunded operators: Punters have no risk of operators or layors who have insufficient funds to lay their bets – in this system all bets are prefunded on both sides.
Ease of funding for bet placement: No more credit cards, wire transfers and other outdated payment mechanisms. BETR (Betting coins) are ERC20 compliant coins and will trade on major crypto exchanges and can always be bought and sold against coins such as bitcoin and ethereum.
Instant access to winnings: Winnings are distributed as soon as a bet is resulted and available in instant crypto funds for use as the owner sees fit.
TOKEN & ICO
symbol: BETR
Start DateDecember 15th 2017 14:00 UTC
End DateJanuary 31st 2018 23:00 UTC
Accepting: BTC. ETH, LTC, BCH, DASH
Hard Cap: $30M
Development and marketing of the system will be funded through the issuing of a betting token (BETR). The number of BETR tokens is hard capped, with liquidity increases facilitated by an increase in token value. There will be an early bird bonus system built into the ICO to incentivise early investment, according to the following schedule:
A reserve fund of tokens will be created as part of the initial token event to be sold on the market at the discretion of the foundation. This reserve fund will be not more than 10% of the amount issued at the ICO and will be held in trust and not released for at least 12 months. No further tokens will be created apart from ongoing maintenance tokens
Ongoing maintenance tokens will be created periodically by the foundation and sold on the market to replenish tokens that are burnt as part of transaction fees. Transaction fees will be based on the underlying gas price consumed by the transaction and will be fixed per transaction regardless of the amount of the bet.
Once the target $30M in ICO sales is reached there will be no further token sales apart from maintenance tokens and reserve funds. The total token pool is hard capped at 650,000,000.
ROADMAP
TEAM
ADVISORS
Links of Interest
Website : https://betterbetting.org/
Twitter: https://twitter.com/BETRBetting
Facebook: https://www.facebook.com/BETRBetting/
Youtube: https://www.youtube.com/channel/UCFvNUWRiedqvcpNHqLnDAXg
Ann: https://bitcointalk.org/index.php?topic=2582662.new
Telegram: https://t.me/betterbetting
White Paper: https://betterbetting.org/BETTER_BETTING_Foundation_White_Paper.pdf
By: Andrewsito
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1216520
Myetherwallet: 0xB16Ae1Abd9d918e811B9713AE6F276B6F6079C5f
By Bitcointalk user: andrewsito