BX.BET: Decentralized Betting and prediction market

It's no hidden fact that blockchain is slowly starting to overtake every industry. Yes, the pace might not be very fast right now but will surely increase with time. If you would have said couple of years back that blockchain will make this much impact then I would have laughed and laughed. It took me a complete year to realize the true potential of blockchain and when I did, I could not stop myself from falling in love with this technology.

Out of all the sectors, financial sectors like banking, are the one which has suffered the massive impact of the blockchain. Same goes for the gambling industry. Gambling industry worth more than 60 billion USD (that only on paper!!) and it involves a heavy transaction. But, those who are familiar with the gambling industry or have tried their luck would know how inefficient present day market is. Present day gambling industry suffers from various loopholes like lack of trust, transparency and high operational cost. I still remember my first bet at a football match. I literally had to spend one hour to place my bid (although I lost in the end!!). This is the main reason which prevents users from getting more involved with gambling. It's not that people don't love gambling, it just that they are afraid of losing their money or getting caught in some malpractice. So, we need some kind of technology which can assure users that their money will be safe and all the process will be transparent.

Thanks to BX.BET this can be possible in coming years. They are working on a decentralized betting platform using blockchain technology which might help democratize the industry. Let's have a quick glance over the platform and try to figure out whether they can be a good investment opportunity or not.

BX.BET platform

BX.BET plans to use blockchain technology to democratize and bring more transparency in gambling ecosystem. The platform is designed to provide an entirely new experience. The platform will allow the users to control their bids and remove the middlemen (who used to charge massive transaction fees).

BX.BET platform will allow users to place bets using their own odds and they can also be part of market determinations. The platform eliminates the traditional issues of lack of transparency, lack of trust, high transaction cost. The company has also ensured that the rules and regulation will be very strict to safeguard the needs of end users. The removal of bookmakers will ensure that the end user will get full profit and will also eradicate any malpractices in the industry.

BX.BET has also ensured that all transaction happening on the platform will be secure and autonomous. I personally, loved the design and flow of their demo app (on their website). It's so simple to use and the best thing is that it has everything that I would need to help me decide on which team I want to bid on.

ICO and Team

BX.BET uses ERC20 token which is created on Ethereum blockchain. The company has released 120 million BX tokens for sale. BX.BET will organize a pre-sale from 15th October 2018- 29th October 2018 and the main sale from 17th December 2018. The tokens will be sold at a rate of 1 BX token= $0.19 USD. BX.BET will accept Ether, Bitcoin or fiat currency for the exchange of BX tokens. However, you need to invest a minimum of 100 USD.

Conclusion

BX.BET will start listing its token on various exchange platform after the main sale. They also plan to release an alpha version of the platform along with all the rules and regulation by the end of this year. The beta version will be released in Q1 next year along with BX wallet. The company plans to release the full-fledged mobile app by the end of Q2 next year (or maybe Q3). According to one of the team members, they will expand to offline services after the release of their app.

But, the big question is whether BX.BET presents a good investment opportunity or not. Well, idea-wise, the company is good (if not great). They would have faced some fierce competition in this sectors as they are quite a few competitors in the market who are promising to provide similar services. One thing which impressed me a lot about them is their social presence (which it may more than others). But, since there are few competitors out there, you need to think twice before jumping on with the investment.

You can remain updated with all the latest news related to BX.BET via-

Website - http://www.bx.bet/

Whitepaper - https://bitcointalk.org/index.php?topic=4641799.0#post_

ANN - https://bitcointalk.org/index.php?topic=4641799.0

Telegram - https://t.me/bxbet

Published by- Etheran

Profile - https://bitcointalk.org/index.php?action=profile;u=1108165