Demand of betting exchanges
While reports on the impact of Blockchain tend to focus on cryptocurrency as an investment, Blockchain is affecting a wide range of industries. Betting industry is not an exception.The gambling and betting industries are poised for a transformation, as consumers seek for new, convenient and cheaper opportunities to bet. Blockchain will disrupt the traditional betting market, in a way that Betfair promised to, but failed.
Betfair failed to disrupt the traditional betting space for a number of reasons. Its founders were greedy; they went for a big flotation. They diluted the core offering of the betting exchange, embracing online poker and casinos. A declining share price forced them to shore up gaps in the betting exchange model, through embracing the traditional bookmaker model, the very thing that they had set out to destroy. Finally, in the biggest irony of all, they agreed to sell the company to a traditional bookmaker.. It is also the case that Betfair became bogged down in a regulatory quagmire. As an internet betting company, that threatened to disrupt the status quo, the company rattled the regulatory hornets nest. Subsequently, the company found itself having to spend hours of time and millions of pounds in an attempt to overcome regulatory hurdles. Marginless have a good example of Betfair which mistakes we need to avoid and where is the demand for improvements.
For a few months Marginless team have analysed demand of betting exchanges and which features does people want to see on betting platform. As our development process of Alpha version is ongoing process, we see a huge demand and market opportunity in legal and transparent betting platforms.
“Chinese police in the city of Guangdong have arrested hundreds of individuals involved in online gambling platforms that facilitated betting with $1.5 billion in cryptocurrencies including bitcoin.”
Bad news for bettors, but this shows that we have a demand in crypto market of legal betting platforms. Marginless team inspired to work on betting exchange with full power! Alpha version is currently on closed developers testing. Development process requires a lot of time as betting platforms requires high level of security, liquidity, oracles integration and other coding part. For these reasons platform needs to be tested very carefully. You will have an opportunity to test our alpha version very soon!
World Cup: Chinese Police Crack Down on $1.5 Billion Bitcoin Gambling Ring
Fairness, transparency, integrity, privacy and general market stability are of paramount importance to traders in any market and with the use of blockchain we can bring these advantages to betting industry!
We’ve been working on extra application that will add extra useability for MRS Tokens for past few weeks. Marginless White Paper V2.0 is coming out later this month with more details, so please stay tuned!
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