Betmatch Business Models
As you might know from our previous articles, Betmatch is designed to be the first blockchain solution for bookmakers where players will be able to place a bet against each other. In fact, it combines two business models — betting house and social betting. It means that it integrates blockchain-based betting with a social betting network. Let’s now have a look at how these business models work in our system.
Betting house is the classical business model of traditional betting cases with the one big difference — it is executed in a trustless paradigm with the usage of blockchain technology. As you may know, there are different thoughts about betting as this industry is full of various scammers. And even if everything is absolutely transparent and honest, betting can be quite destructive and dangerous. And we want to impress our customers by creating a unique solution using blockchain technology. For example, we will give the players an opportunity to easily and safely place a bet, that is today a very important innovation in this industry. We use blockchain to reduce problems and provide players with a transparent platform where everyone will be able to bet without any intermediaries and third-party payment systems. The blockchain technology ensures that all transactions are tied to smart contracts. In addition, the commission will be minimal and it will lead to a significant contribution to the platform development.
Social betting, in its turn, complements betting house and works as a second, community layer. Social betting and social networking within the betting industry seems to be very interesting and reasonable option for many customers, as they like to study predictions and sports statistics given by “experts” or even experienced players. We are a B2C company that finds a social aspect in social betting to be an important component that has to take place throughout our platform. It indicates that we are ready to pursue community-building efforts, being connected with our investors and actively communicating with our users.
In fact, the users are the ones who will construct the social betting network. Every customer can choose one or many other users. The subscription allows the customer to receive a service that provides sports analytics, XBM tokens in the lending mode, or other features such as premium content, analytics to name just a few. Additionally, each subscriber can make his own rules- from free subscriptions up to a profit share from every successful bet of all players- followers. There is one more interesting thing that social betting network can offer. It allows the service provider to collect all or part of his subscribers’ bet volume and add them to his own statistics. As Betmatch strives to make a highly competitive social betting environment, there will be no restrictions to subscription rules. In such a way, Betmatch aims to create a social network of connections between the customers.
To sum up, the classical betting service created on top of the blockchain community and social betting network as an important community layer offers an original solution for the players and the whole betting community. The social network encourages peer-to-peer interaction and at the same time additional betting activity. Combining these two business models, Betmatch aims to build a long-term solution for the upcoming cryptocurrency-based betting market.