BX.BET

ndox (10)in #blockchain • 6 years ago

BX.BET- Decentralized Way of Online Sports Betting and Prediction

http://www.bx.bet/

What is BX.BET

BX.BET is a global, decentralized peer-to-peer betting and prediction market ecosystem that will allow its users to place bets on any market created by the community using the BX token.

With the smart contract power of the ethereum blockchain, BX is able to cut out the middleman and give its users full control over their funds and betting transactions at all time.

BX aims to completely disrupt and redefine the traditional betting industry by offering its users a unique betting experience.

PROBLEMS OF THE BETTING INDUSTRY

LACK OF TRUSTTraditional betting operators require a high degree of trust - which is sometimes exploited by the bookmakers, to the detriment of their users. On the other hand, this responsibility results in high procedural and financial expenditures for the bookmakers as well.

LACK OF TRANSPARENCYThe processes of traditional bookmakers remain hidden, giving no insights into what information led to specific odds and making it impossible to ascertain whether the odds are fair or set too far in the bookmakers' favor.

INTERFERENCE OF PROVIDERS & LIMITATIONSWithin the current sports betting landscape, the players are very limited in their freedom of betting. bookmakers can limit the players in their betting behaviour and even penalise players who frequently win, by banning or restricting them.

HIGH COSTSHigh costs are required to run a traditional betting operator safely and efficiently for both the players and the company. These costs are reflected in high margin odds and directly charged to the players.

THE SOLUTION

Our decentralized, blockchain based approach eliminates non-distributed processes and allows players to benefit from full transparency and total control over their betting experience. We remove the middleman and hand control back to the user.

BX neutralises all problems and weaknesses from the current betting market, by introducing a powerful and distributed ecosystem running on self-executing smart contracts, which significantly cuts transaction and operational costs.

HOW IT WORKS

BETTING EXCHANGEThe BX betting exchange forms the central hub for its users to accept or offer bets on the outcomes of the markets.

FEE STRUCTUREBX will establish a fair and transparent fee structure, which is solely designed to keep the ecosystem running. The overall fee will be significantly lower than industry standards.

BX SMART CONTRACTSAll BX betting transactions, as well as payouts, will run safely, autonomously and transparently on the blockchain by using Smart Contract Technology.

MARKET OWNERBecoming a bookmaker has never been so easy. In the BX ecosystem, every user can become a Market Owner and receive a share of the market they have created.

BETTING MARKETSBX will offer two types of betting markets within the ecosystem: private and public markets.

ORACLE

BX will introduce the BX outcome voting system as a decentralized Oracle to determine the outcomes of the bets securely and reliably.

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