BX.BET: The Decentralized Betting Exchange
Introduction
Normal sports betting behaviour is represented in gambling advertising. In recent years, online sports betting industry has been characterized and worth up to 51.96BN USD growth. Economists have given great attention to stock markets in their efforts to test the concept of market efficiency and rationality. Since the stock is infinitely lived, its value today depends both on the present value of future cash flows and on the price someone will pay for the security tomorrow. BX.BET believes that the virtual resource allocation decisions depend on well-functioning capital markets, economists and investors that have spent good deals of their time and has market literate behaviour.
Problems
However, despite the quantity growth, online gambling also experienced decreasing levels of trust and diminished reputation in the past years. Investors have faced many problems including the lack of transparency, strict regulations and high operational costs resulting in high margin odds in favour of the bookmaker. Anyone who wants to place on a betting market needs to become a costumer sportsbook and transfer funds from their own bank account. In which this requires a high degree of trust. In these kinds of situation, the ecosystem utilizes blockchain technologies to track smart contracts just in order to give users a full control over their funds and betting transaction at all times. BX.BET allows every player the benefit of full transparency and the total freedom in their own betting experience, and neutralizes the aforementioned problems and weaknesses of the current betting industry. There is also a possibility of not getting paid when requesting a withdrawal through an online sportsbook, but in BX.BET that is possibly not going to happen.
Offerings
BX.BET offers also (P2P) Peer-to-peer applications that interact directly with each other or without middle man. It is best assured that BX.BET is autonomous decentralized system for large scale transport operation control system. BX.BET as a large scale primarily public system offers high reliability, broad range of application from control to information services. The BX site, https://bx.bet/en/signup/form is flexible, changeable and able to grow as the needs arise. BX.BET is an advanced gambling market ensured by step-by-step innovation in which it gives implementation into the real society.
Platform Design and Participation
There are new market creations through transformation, BX transaction only places between the two: The Private markets and Public market. The success of this project came on the heels of another development — Perpetual contact: Mobile communication, private talk and public performance.
Private markets are markets that are only accessible via direct invitation from the market creator while the Public Markets are listed on public a platform, which makes them accessible to all users of BX ecosystem.
Private market sites easy creation and invitation via apps, plugins and API Platform. Also, it sites high degree of freedom for the betting market configuration whether it’s large or small contribution. The image below sympathizes the market creation process of BX Ecosystem.
The creation process of BX Ecosystem is for the players that can participate betting market by accepting (BUY) or offering (SELL) bets with certain odds, and with a specified maximum amount for a particular outcome. The BX outcome therefore is determined as a result of the event then it is followed by the distribution and calculation of winnings and fees directly to the wallets of the players.
BX Website: https://bx.bet/en/
Whitepaper: https://bx.bet/static/files/whitepaper.pdf
Telegram Group: https://t.me/bxbet
Bitcointalk Link: https://bitcointalk.org/index.php?action=profile;u=1402538
ETH Address: 0x2A77cfaBD211d741F34B3Be3709FD4c5f1Ee6181