Day: April 24, 2018

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. (more…)