Estonia-based BetterBetting Launches Their BETR Platform, with Details Offered of Their ICO which Launches in December. The BETR Platform will Change the Way We Interact with P2P Sports Betting
TALLINN, ESTONIA / ACCESSWIRE / November 30, 2017 / Revolutionary new decentralized sports betting marketplace, Better Betting Foundation is to debut their BETR coin, with the goal of establishing a global betting liquidity pool. BetterBetting Foundation, a software systems enabler for sports betting on the blockchain, has launched its pre- Initial Coin Offering (ICO) sale ahead of its ICO in December.
The token sale introduces investors to BETR, a market-changing betting cryptocurrency that will lay the foundations of the first truly decentralized peer-to-peer sports betting platform on the internet.
Supported and advised by a number of industry specialists, BetterBetting will introduce a revolutionary twist on the betting exchange model, completely eradicating the middleman from the equation. All bets will be stored on the blockchain, providing full transparency and provable fairness on all transactions, thereby eliminating all human or business activity between the two betting parties. Ultimately, the software and standards that comprise the system will be open source and free for anyone to copy and use, paving the way for BETR to become the exclusive cryptocurrency of some of the world's leading gaming operators.
BetterBetting is seeking a minimum $2M and maximum $30M raise from December's ICO. These funds will be invested in the development and release of the BetterBetting protocol; the development and open-sourcing of dapps and node software; and marketing to key stakeholders and consumers, as well as legal and administrative costs.
Core to the BetterBetting system is software that implements a distributed directory of sporting events and markets, while placing bets as contracts onto the blockchain. This software is called the Better Betting Node (BBN). It acts as a distributed mirror for directories, facilitating a standard repository for sporting information that can be added to by any agent on the network, and queried in order to present user-friendly client interfaces to punters.
That means not only is it easier than traditional methods to find any specific bet, but it also makes it possible for bets to be standardized and pooled together. Liquidity will be driven by the relationships Better Betting has with their partners who already have significant market share in difficult markets around the world.
A tiered bonus system will be built in to incentivise early investment in the ICO. Thereafter, tokens will be issued at ICO value, which is set at the closest Ethereum price to US$0.10c per token. In the betting market, the amount of money in escrow or accounts at any one time worldwide can exceed $50Bn. Estimating a 1 percent market penetration in Year 1 and given the projected market cap is already in excess of 100 times the initial market cap of BETR, token value is projected to go up significantly.