Gainmers, a blockchain-based peer-to-peer (P2P) gambling platform, is supporting both traditional sports such as football and esports like CS:GO and Dota to evolve into a complete decentralized betting application.
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Over the past 12 months, an increasing number of blockchain development teams have attempted to launch decentralized casinos, with an aim to automate payments and minimize trust involved amongst financial service providers, consumers, and businesses.
Within merely months after the popularization of Ethereum-based casinos, several decentralized casino platforms have obtained licenses to operate in regions like Curacao, as regulated and licensed casinos. The exponential growth rate of the decentralized casino market has portrayed the evident demand from the public towards automated systems and efficient peer-to-peer platforms.
For many decades, traditional sports gambling platforms have continued to gain popularity in spite of their high commissions, unfair odds, slow payments, and unreasonable payout thresholds, primarily due to the lack of competition within the space. Specifically, there have been no alternatives to conventional sports betting platforms.
The Gainmers development team is attempting to compete against major traditional sports gambling platforms globally by releasing its cryptocurrency-accepting betting platform on the distributed ledger of the Ethereum blockchain.
Through the utilization of smart contracts on the Ethereum protocol, the Gainmers platform is able to process payments autonomously, without the involvement of intermediaries and third party service providers. The ability of Gainmers platform to process payments in a decentralized and peer-to-peer manner between the business itself and consumers substantially decreases commissions and optimizes the payment process.
“Gainmers platform brings a P2P betting mode in which the odds and returns will be defined by the amount of players gambling on a certain event. Forget about unfair odds like traditional bookmakers offer. Our goal is to give our users returns in a more transparent way. Players will be able to bet on public pools or create their own private rooms to play with friends,” the Gainmers team explained.
On its beta release, the Gainmers team showcased the friendly user interface of its platform, which is necessary to ensure that the smart contract, cryptocurrency, and complex back-end aspect of the platform are never acknowledged by the users.
As seen in the screenshot below, the Gainmers platform will begin by supporting both traditional sports and esports, including CS:GO and DOTA, which bring in more revenues and record higher viewerships than most international sports.
Last year, League of Legends finals recorded more than 10 million live viewers than the NBA finals between the Cavaliers and Warriors.
With P2P betting, private room betting, artificial intelligence (AI) bet bot, and efficient community engagement, Gainmers seek to become a complete decentralized betting platform for both members of the cryptocurrency community and users outside of the cryptocurrency market.
Given that traditional platforms that do accept cryptocurrencies undergo a complicated and impractical method to allow cryptocurrency deposits, the smart contracts-based automated process of Gainmers will likely have a strong edge over its competitors in the gambling space.