4 ways Blockchain can help sports predictions
If you’re already into the world of sports predictions, you’re probably well familiar with the exciting ups and downs. You follow your favorite teams and players religiously, making sure you know all the important information to make the wisest investment possible at the next game. If you know what you’re doing, you’ll see at least a small return on most of your predictions. On other occasions, reality will surprise even an expert like you, and that’s part of the excitement!
In the midst of all that, it’s easy to overlook the subtle bias that the prediction market has against you. In fact, there are all kinds of issues built into the sports predictions market that are making it hard on gamers and limiting the reach and potential of providers as well. Up until now, that’s been the status quo and nothing better has been possible. But now there’s Blockchain, and companies like myEdge are using this technology to make prediction markets fairer, more reliable and therefore more accurate. Here are just four things that Blockchain is about to disrupt in sports prediction markets.
Centralization — Like in almost every other industry, information in prediction markets is currently highly centralized and all the power lies with the providers. This allows them to mathematically manipulate futures to be always in their favor. But Blockchain is all about decentralization and dispersing information out across countless servers where providers can’t manipulate it anymore.
Mobility — Another form of manipulation used by providers is to make it harder for gamers to seek out better offers from other providers. This is mostly done with the unique currencies or tokens used by most prediction platforms, which are notoriously slow to exchange into other forms of wealth and almost certainly not directly transferable into the currency or token used by another platform. Gamers are kept in the bubble of one provider, which uses analytics on its users to manipulate the odds.
Finding the best deal — It is possible to take advantage of offers from multiple providers without Blockchain but combing through all the different sites and overseeing value exchanges across platforms is nearly a full-time job — one that Blockchain can do for you. myEdge, for example, uses Blockchain and its own token to oversee quick transfers of value from one platform to another while using an algorithm to compile all the best deals from across providers in the industry so you don’t have to do the hunting.
Security — Blockchain also promises to take authority away from providers with unprecedented security surrounding gamers’ personal information. Analytics will be harder to come by and force providers to play the game on a more even scale.
But providers stand to benefit from what Blockchain has to offer as well. Gamers seeing better results from their predictions are likely to game more, while newfound mobility will encourage the flow of capital. Who isn’t winning here? Not you, and hopefully not your team either.
To learn more about myEdge and the technology behind it, visit our website and join our Telegram chat!