Category: Sport bets

How about sports betting on blockchain?

Canadian bookmakers, which do not use blockchain, have a number of shortcomings.

First, they update the odds on sports events with a delay of a few seconds. Because of this, the player cannot make a bet on the most favorable terms.

Second, the money stays on such platforms for a long time. Users who won money and want to withdraw it, have to wait for several days. All this time their money could work and bring profit.

All these problems are solved by Canadian gambling projects, based on blockchain. They also have other advantages in comparison with traditional bookmakers who accept sports bets in Canada.

Blitz Predict

Blitz Predict is one of the first blockchain platforms for betting on sports and political events. Blitz Predict beta version was launched in the first quarter of 2018.

For a simple user, Blitz Predict (as well as other blockchain platforms for betting) is not much different from the usual bookmakers. However, there is a difference.

Deals with the bookmaker are concluded done through smart contracts. This is one of the main advantages of Blitz Predict, and it is implemented through blockchain technologies. Smart-contract will not allow the bookmaker to cheat by calculating the winning rate at a reduced ratio or not paying at all.

Advantages of Blitz Predict:

  • the best lines – odds on sports events are updated in real time, and there is an opportunity to make a favorable bet;
  • intellectual rates – on the Blitz Predict platform smart-contracts are implemented;
  • Blitz Pay – Blitz Predict developers have created a reserve with which you can instantly withdraw funds and cryptocurrency exchange Canada;
  • Analytics – Blitz Predict will work with the best experts on rates;
  • contests of forecasters – users, who most often guess the correct outcomes of sporting events, receive encouragement from the platform;
  • consortia – in the future Blitz Predict plans to introduce a functionality similar to the Forex brokers’ PAMM-accounts when users only have to give money that is managed by experts on rates.

The Blitz Predict platform would not have these advantages if it weren’t based on the blockchain.

To play Blitz Predict, you need to make a currency exchange, Canada is one of the best countries to do this. Here you can get bitcoins in ATMs and withdraw funds through one of many exchanges.

Fans Unite

Another gambling platform, which implemented blockchain is Fans Unite.

Fans Unite members can bet on sports events around the world. Not only popular matches are available, but also lesser known games.

The Fans Unite platform works on Ethereum blockchain. This gave Fans Unite developers the opportunity to implement smart-contracts. Neither the bookmaker nor the user can interfere with the work of the smart-contract after it was signed. This means that players’ complains of incorrectly calculated rates will stay in the past – such situations simply cannot arise.

In addition to smart-contracts, Fans Unite has other advantages:

  • transparency – a separate section of White Paper is dedicated to the technical architecture of Fans Unite, anyone can be acquainted with features of the platform implementation;
  • Confidentiality – on Fans Unite, players do not create accounts but work anonymously, and their financial transactions and personal data cannot be tracked and monitored;
  • low fees – bookmakers who do not use blockchain, take a fee of 5-7%, Fans Unite is limited to a fee of 1%;
  • quick payments – the Hybrid Oracle system instantly processes requests not only for deposit but also for the withdrawal of users’ funds;
  • cooperation of players – successful participants can share their predictions with other users and get paid for it.

The developers of Fans Unite found a very good solution. The system does not store confidential information about the user – his personal data and transaction information (unless the user himself wishes to do so). However, the statistics of bets on sports and types of events is preserved in Fans Unite, which allows other users to evaluate the qualification of the participant.

To work with Fans Unite, you need to purchase tokens. The best way to exchange cryptocurrency in Canada is to use exchanges. You can also use Bitcoin-ATMs.

According to ICO Pulse experts, the Fans Unite project is one of the best blockchain-based gambling platforms. Specialists ICO Pulse attributed to the competitive advantages of Fans Unite reduced margin and full confidentiality of users.

Peerplays

Peerplays blockchain betting system started in 2016. In 2017 the organizers of Peerplays held an ICO, which, according to Pulse experts, was one of the most interesting summer crowd sales.

The mission of the Peerplays project is to bring blockchain into the world of betting. Developers have created a completely decentralized platform for users who want to predict the outcomes of sporting events. The data on the bets made by the participants are stored in the blockchain, and after the competition is over, money is distributed by the smart contract.

Simultaneously with the creation of the platform, Peerplays developers entered the mobile applications market. Today Peerplays ecosystem includes several programs:

  • Peerplays Core Wallet – a wallet to exchange¬†cryptocurrency in Canada and in other countries;
  • HelmBet – a program that will allow you to find the best rates for the coming days;
  • Bookie – an application with the functionality of the bookmaker – you can make bets on profitable rates, deposit and withdraw money.

One of the countries where digital money and blockchain has become widespread today is Canada. Cryptocurrency here can be exchanged using Bitcoin-ATMs and exchanges. Transactions on P2P-platforms, when one user sells tokens for fiat, and the other receives a cryptocurrency and gives US dollars or euros, also gain momentum.

Summary

The number of blockchain platforms for sports betting increase every day. Today there are dozens of such projects and new ICO projects are launched every month.

We recommend you to get acquainted with the latest information from ICO Pulse about the best gambling sites on the blockchain. ICO Pulse experts study the technical documentation of each project before it starts. Based on the results of the study, specialists determine how correctly the project team uses blockchain technology and whether the new development has competitive advantages.