ASURA: eSports Betting Just Got A Whole Lot Better

cryptrex (46)in #blockchain • 6 years ago (edited)

Today, millions of eSports fans gather to watch eSports tournaments, mllions of others stream these matches from the comfort of their homes, offices or wherever. The eSports industry has attracted a huge fan base and they contribute to the overall growth of the industry from the millions of dollars viewers pour in annually. The fans also partake in placing of bets on the outcome of eSports tournaments. The eSports industry has a huge untapped potential when it comes to betting.

A Broken Industry

The eSports tournaments have become so competitive and so have the prize money increased from the massive sponsorships, and viewers they attract. In this period, numerous eSports betting websites have been birthed and they enable users to place bets on the outcome of events and tournaments hosted on their website. A common saying in casino betting that “the house always wins” is a great example of how deep corruption has eaten into betting in general. eSports betting suffer majorly from lack of transparency and reliability when compared to other kinds of sports betting. Users are usually advised to thread with caution because there is no guarantee on the transparency of bets or their outcome.

A Viable Solution

The Blockchain technology has continued to infuse transparency and trust in many industries and as such can be applied to eSports industry in order to decentralize and provide an incorruptible ways to place and settle bets using smart contracts. Asura is a new blockchain ecosystem that intends to give eSports a major facelift with it’s Neo based eSports betting platform. Asura will succeed in eliminating the usual middlemen involved in eSports betting, enable a cheaper and more transparent peer to peer betting. Users will have a wide range of betting options to choose from and also set unique betting rules depending on the type of match involved. Users will be able to take their betting to anothee stage by taking the players' seat and battle for glory with other community members. Smart contracts will provide an automatic means to settlement of bets and the automatic and efficient payment of winnings. It eliminates the possibility of conflicts arising from the outcome of bets or the settlement of winnings. All wagers and settlement of bets on the Asura platform will be done with the ASA coin, an NEO NEP-5 token.

Conclusion

Asura will make eSports betting a lot more fun, flexible and safe, making sure that fees are significantly reduced, bets are transparent and payout happen quickly. The eSports betting industry has a great future and with platforms like Asura promoting transparency and trust in the system, it will reach greater prospects.