Gambling gives a sense of anticipation and excitement when people are in dire need of some entertainment. That’s why betting on sports is an activity that will always have traction. The industry is skyrocketing both in the online environment and offline. However, it poses challenges that Blockchain technology may be able to solve.
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A new Blockchain-based platform is preparing to disrupt an industry worth billions. Founded by Russian developer of B2C web apps, Baikov Artyom, XWIN CryptoBet has plans to make betting on sports more transparent, secure and stable. The new platform is built on Ethereum, which uses a proof-of-stake model based on smart contract usage, and a personal XWIN token to enable players to make the most of their passion.
On the Blockchain, the house doesn’t always win
The team behind the XWIN project is made of skilled professionals in the sports industry who believe in the successful creation of a more rewarding sports betting platform that works in the best interest of both players and bookmakers. One of the core benefits of Blockchain technology is the decentralized nature. It can be made into a safe virtual space where players can enjoy sports betting without the risks associated with conventional platforms, such as account lockouts for no good reason, arbitrages, or penalties for frequent wins.
XWIN CryptoBet reshapes the way players feel and how they behave when gambling. Built on Ethereum, the platform provides increased safety and more convenient betting for all users. All payments and transactions made are fully transparent. There’s also a simplified registration process and since players’ accounts are created on smart contracts, management is done autonomously.
A sports betting platform uniquely tailored for bookmakers
It’s no secret that bookmaking has grown into a full-blown business. To cater to the wishes of avid bookmakers out there, XWIN CryptoBet prides with a steady margin that varies between six and 20 percent. Winning bets made by betters go into their XWIN smart contract accounts and are managed individually. There’s a limited amount of tokens available, and 80 percent of them are targeted at players and investors.
To make betting on sports a seamless experience on XWIN, the general guarantee fund increases the nominal price of XWIN token, thus ensuring its value. The overall amount of tokens divided by 50 percent of the platform’s total guarantee fund equals one XWIN token (the nominal price). This way, there will be no risk of booming token exchange.
Token holders are at liberty to sell off their XWINs at any time through the platform’s Ethereum-based smart contract model. As for the free exchange pricing, it all comes down to supply and demand; followed by spikes in the nominal price of XWIN tokens and commission payments.
Investors eager to invest can fully access XWIN tokens during the development stage of the project. Currently, the price is estimated at 0.004 ETH. In order to pursue its mission and vision to improve the betting on sports industry, XWIN CryptoBet constantly works on improving and expanding the platform. A strategic approach to funds distribution has already been implemented. 32 percent is allocated to hiring skilled developers to works on building smart contracts, interface, and apps. To execute on its goals, 35 percent goes into crafting marketing, promotion and PR campaigns. 15 percent is reserved for maintenance and platform administration.
As of this January, the XWIN CryptoBet community prides itself with over 5,700 members. Those that want to invest in the project can participate in the first phase of the ICO, and get an initial 20 percent bonus (offer available until Jan. 15).