REVIEW: BX.BET ICO - THE DECENTRALIZED BETTING EXCHANGE

neli234 (25)in #icoreview • 6 years ago

1)What is BX.BET?

BX is a global peer-to-peer betting exchange, where users can create or join public and private betting markets by using the BX crypto token. With the implementation of the blockchain power of the Ethereum smart contract technology, BX can cut out the middleman and give its users full control over their funds and betting transactions at all times. The BX ecosystem is secure, tamper-proof, trustless and completely transparent.

BX aims to become the leading platform for all decentralized betting and prediction applications. Unlike its centralized competitors, BX counters all the problems and weaknesses of the current betting industry. At the same time, BX can harness smart contract technology to significantly cut transaction and other operational costs, which leads to the low and fair fees which are set solely to keep the ecosystem running.

2) Vision
The potential of our target market clearly indicates enormous growth opportunities for the BX ecosystem. In particular, the combination of sports betting and prediction markets will open up new market opportunities in the future. BX combines the best elements of both worlds, with the goal of creating a novel betting experience for our users.
3) PROBLEMS OF THE BETTING INDUSTRY:
- LACK OF TRUST: Traditional 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 TRANSPARENCY: The 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 & LIMITATIONS: Within 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 COSTS: High 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.

4) The advantages of Bx.bet:
The BX betting exchange forms the central hub for its users to accept or offer bets on the outcomes of the markets.
- FEE STRUCTURE: BX 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 CONTRACTS: All BX betting transactions, as well as payouts, will run safely, autonomously and transparently on the blockchain by using Smart Contract Technology.
- MARKET OWNER: Becoming 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 MARKETS: BX 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.

5) Token:
TOKEN SALE STARTING: 08 October 2018 - 05 November 2018
Ticker: BX
Type: Token(Ethereum)
ICO Token Price: 1 BX = 0.19 USD
Fundraising Goal: 20,000,000 USD
Total Tokens : 200,000,000
Whitelist : Yes, JOIN
Know your customers (KYC) : Yes
Can't participate: Algeria, Bangladesh, Bolivia, Ecuador, Ethiopia, Indonesia, Iran, Iraq, Jordan, Kyrgyzstan, Morocco, Nepal, North Korea, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, United States of America, Vanuatu, Yemen
Accepts: ETH, BTC, FIAT