What is Betmatch?
Sports betting is rapidly developing. But as the market volume grows, so does the scale of its problems. Deception and fraud can be found both in players and organizers of betting business, and traditional centralized betting portals are considered to be unsafe. But, despite this, interest in betting industry continues to grow. More and more companies join the industry; their audience is also growing. Therefore, it is necessary to find solutions that will reduce the risks and make the market safe. One of such solutions is a blockchain betting, to be more precise — Betmatch project. The ultimate transparency that blockchain technology offers to us, can finally break this vicious circle of distrust and create a new foundation to draw up a versatile picture about betting.
So, Betmatch is a blockchain solution for bookmakers by RevelDevelopment that allows players to bet against each other. It uses cryptocurrencies with trustless customer funds storage, payouts and bets execution. Betmatch combines the classic business model using blockchain technology with the social betting network as a second community layer. These two business models complement each other, providing additional customers value and enhancing the overall net result of the system. In fact, deposit, bet execution and withdrawal processes are carried out with the help of blockchain network services such as direct crypto payments and smart contracts. So, they cannot be affected by third parties or anyone’s actions. Besides Betmatch offers the original social solution for players and betting-related community. This idea allows each customer or community member to build their own personal business.
As for centralized betting portals, here players risk to lose their money, because this is the operator who decides how much the player will get in the end. It is also important to know that such services have non-public databases, which means that the game is built on blind trust. Players can never be sure that the game really follows the rules.
With Betmatch you are safe, as all deals are fair. Users can always monitor their accounts by sending and receiving money directly. Based on the blockchain and smart contracts, Betmatch platform uses peer-to-peer bids without centralized control over them. It allows people to keep confidentiality, as they do not need to transfer their personal data.
Despite all the blockchain advantages, the traditional betting house model is considered to be weak due to very competitive online-betting market and a high cost of user acquisition. But Betmatch combining two business models mentioned above, aims to build a durable solution for the emerging cryptocurrency-based betting market. Privacy, transparency and honesty are definitely Betmatch main advantages. So, don’t hesitate and join our community right now!