Betting companies have a lot at stake. The information about the betting conditions should be delivered timely and accurately, as the platform’s credibility depends on it. For clients it is important that there is not a shadow of a doubt regarding the outcome.
If the bets are placed for an event which results can be easily checked, customers can feel much safer. Although, if there is no objective way to define whether the process is fair, the outcome can be questioned by the better. At the moment there is no independent system to prove that there was no interference along the way and both clients and companies can suffer from potential distrust.
A secure way for a betting platform to provide truly reliable results is to include an impartial third party that would be able to timely deliver the exact details of the bet. Such high precision results can be obtained through Oracles. As ChainThis relies on blockchain, an immutable environment, the betters have the ultimate proof that all conditions have been met and the service provider gains the reputation of a trustworthy business.
How it works:
- Bets are placed
- The betting service creates an Oracle containing the API request or a message with the conditions of a bet
- At the due time, the Oracle with the results is published on the blockchain
- Anybody can check the accuracy of the outcome
ChainThis can help eliminate any possibility of speculation within the betting process, giving the clients peace of mind and the services additional way to prove their credibility and gain better reputation on the market.
If you would like to incorporate our solution into your betting platform, contact us at partners@chainthis.com.
