New Betting Market Opportunities
Nowadays, one can observe a heightened interest in the betting industry. In terms of the market, the game industry is one of the most profitable and promising business areas, as the army of professional gamers is growing day after day, and plenty of fans are watching over their role models in different gaming communities, blogs, and media. But if you ask users about what disappoints them in the bookmakers’ work, they will name several pain points. For example, a long payment processing. If you can replenish your account in one click, then withdrawal can take a few days or even a week. In addition, payments usually go with commissions. Such commissions are often “biting”, as they can reach up to 10%!
Well, with the brand new technology such as Betmatch, these unpleasant moments will immediately fade away. Betmatch, the first blockchain solution for bookmakers by RevelDevelopment will create a whole new environment where the players will be able to place a bet against other people on almost any kind of sport. The point is that the token transfers are carried out immediately, and transactions are not levied with commissions, even minimal ones. It means that the winnings can be converted into real money within minutes. Sounds good, doesn’t it? No more anxious waitings, proof of identity and passport scannings. What is more, blockchain-technology has helped to make bets in a fair and transparent way. The usage of smart contracts and transparency of the blockchain are definitely a “Chinese wall” for the frauds. And this is a big advantage both for players, organizers and the whole sector. Today the implementation of this kind of technology can become one of the most important competitive advantages.
Have a look at three more benefits of using blockchain in the betting business:
- The first one is an increase of the players’ confidence due to the inability to forge the result. This leads to expanding the client base and cutting marketing costs, that in turn allows us to make a step towards the client and reduce commission fees, thereby boosting our competitiveness.
- The second advantage is the usage of smart contracts that increase the efficiency and transparency of transactions. In this case, the token is used for mutual settlements. Thanks to it, the replenishment of the account and the withdrawal of funds are carried out immediately.
- The main advantage is the potential that blockchain provides to the whole industry. It is very important to create a unified coin, which can be used in any sports betting. This innovation will increase the liquidity of the “game” tokens and will allow using cryptocurrency not only for calculation inside the game but also for investment purposes.
So the implementation of blockchain solutions will undoubtedly increase the trust of users. It allows us to build up the gaming capacities that the betting industry failed to give to their customers before. Thanks to the blockchain-based Betmatch platform, the betting business has entered a new stage of development, where users can bet safe, fast and with almost no fees. Transparent game results, legal anonymity, and high speed are just the beginning. So let’s use new opportunities that the cryptocurrency and blockchain offer us and open the whole new world of betting together with Betmatch!