INTRODUCING: MEVU — A Decentralized, Peer-To-Peer Wagering Platform Using Smart Contracts On The Ethereum Blockchain

The meVu platform is a decentralized, peer-to-peer gaming application that allows its players to test their skills and compete individually or in pooled games. meVu allows players to create custom social bets or bets predicting the outcomes of popular sporting events, including but not limited to: European and American Football, Baseball, Hockey, Basketball, MMA and Boxing. meVu is innovating in the online betting space by facilitating competition between players, testing their skill and knowledge against other people, not a faceless casino or bookie.

DECENTRALIZED

Centralized operations are often victims of hacking because they are trusted to store large amounts of funds or sensitive data which paints a target for malicious actors. By having all of the vital functions performed in a smart contract, meVu makes use of the Ethereum network’s security, making traditional hacks infeasible. Furthermore, outdated centralized bookies have expensive licenses; however, can still run into pressure from

regulatory bodies to shut down operations which can leave funds from its users locked. This is not a concern with meVu, because it is essentially impossible for a central authority to gain control of the Ethereum network. PeertoPeer (“P2P”) decentralization allows betting based competition without reliance on payment processors, reduces operational regulatory burdens, and protects against organizational corruption such as fraud and embezzlement.

The meVu platform is also Autonomous. The ethereum’s blockchain technology allows for the execution of “smart contracts”, code which is run on the Ethreum Virtual Machine (EVM). This technology can be used to perform calculations and also conduct transactions which allows for an autonomous, trust-less payout system, all while being fast, secure and completely transparent.

It is also fully automated.

The Market

These days, Vendors are taking advantage of the growing internet-using population and there is an increasing adoption of mobile devices to develop innovative social gambling games. Internet gambling can offer all the appealing aspects of physical casinos while allowing users to play from the comfort of their homes. Learning the rules of a game in a casino can be humiliating for new players and discourages them from playing at all. With online this gaming ,that awkward situation will be eliminated and players can learn how to play without feeling embarrassed for not knowing the rules yet. An additional benefit to online gaming is its resilience to economic downturn. In times of recession online gambling is not as susceptible to a decline in users as brick and mortar casinos. In a time period of weak economy 78% of sports gamblers say they increased their betting. Players see online gaming as a form of entertainment with the opportunity to win money from their homes.

The sports betting market occupies the largest market share in the overall gambling market. It accounts for around 40 percent of the gambling revenue generation across the globe. Technavio’s market research analyst predicts the global sports betting market will grow at a CAGR of more than 4 percent during the forecast period 2016–2020.

The revenue of selected sports betting companies in 2015 (in billion U.S. dollars).

The statistical report below shows the revenue of selected sports betting companies in 2015. The revenue of sports betting company Ladbrokes reached over 1.78 billion U.S dollars in 2015. William hill generated 2.37 billion.

Vision Of meVuZ

The meVu platform aims to become the most revered global platform made exclusively for players to bet anything, anytime against anyone. The team envisions a time when a common phrase could be “Let’s meVu bet!” meVu will initially focus on custom/social and sport head-to-head bets, but will quickly expand to add multi-bets in which multiple players can take the complementary position against a single larger bet. meVu will add exclusive features for our token holders to participate in pooled bets on sports games and provably fair casino style games in which they use the MVU token to play. The meVu brand is focused on bringing betting back to its basics, between people, the way it was meant to be. Putting control and power back in the player’s hands, we want to foster competition with global leader boards while heightening the thrill and excitement of betting against other players as opposed to sport bookies.

PROJECTIONS

Projections are on bets that are settled by oracles. The average player between the ages of 18–34 bets approx. $3220 a year on sports.14 Charts below estimate how much revenue, meVu, Oracles, and the Lottery fund acquires depending on the users active on the platform.

Future Features

The meVu platform will continuously look to improve the platform while sticking to our key model and vision. Adding the ability for a user to be able to message their opponents will be a priority. Chat fosters more competition through banter while adding flexibility by allowing players to negotiate better odds for a bet. A rematch and challenge option will be implemented along with the chat addon as it easily allows users to continually compete against a trusted opponent and double down on their bets. To allow for more flexibility and control, the feature to “opt out” of a bet prior to Oracle reporting period will be implemented. A player will have the option to send a cancellation request, and if the opponent accepts, the contract will become void. The user who requested the cancellation would pay the “gas” transaction cost.

Summary

Traditional ways of online betting are expensive to both the sports book and its users. The user gives up control and flexibility while accepting a lot more risk than that of just losing a bet. Players are forced to trust centralized sports books which are subject to government interference, fraud and hacking due to a centralized single point of failure. This all contributes to the negative stigma that surrounds online betting.

meVu is focused on abolishing this stigma and making betting fun again by bringing it back to the basics, between people the way it was meant to be. meVu allows people to bet on anything, anytime against anyone. Custom/social bets against friends are a possibility such as; who can drink the fastest, and who will win the next round of golf. If your friends are not around make new ones by finding or creating sports bets on the global meVu network. Creating your own odds, puts control, fairness and power back in the player’s hands. Global leaderboards foster competition and up the ante while heightening the thrill and excitement of betting against other players as opposed to sport bookies. Powered by the Ethereum blockchain these bets are all on a trust-less open source network that securely pays winners completely cutting waiting times and lowering fees from 10 to 2 percent.

For more Information, please visit:

The Website: (https://www.mevu.bet)

The Whitepaper: (https://www.mevu.bet/#whitepaper)

author: lani123lani
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