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Betting on eSports with the Blockchain

Two growing industries unite

The blockchain has brought attention and trust to various industries, and none as much as eSports. You could argue that eSports doesn’t need any additional attention after its meteoric rise over the past decade, but due to sharing similar markets and the ability of the blockchain to monetize actions, including many aspects of gaming, the two have formed an instant relationship.

eSports have evolved into an industry approaching $1B with a fanbase of 300 million people around the world. With only 10% of the billions of computer gamers currently engaging in eSports, there is a significant amount of growth still awaiting this activity that is clearly trending up.

As the popularity of any sport grows, tools, media coverage, and additional opportunities begin to sprout. We’ve seen eSports featured on daily fantasy sports websites, betting websites, and mainstream media outlets. Bethereum, a decentralized, social-betting platform based on Ethereum technology and Smart Contracts, is not only planning on offering betting options for fans of eSports, but catering to this market specifically in a way overlooked by other betting platforms.

During a recent live Q&A session hosted by Bethereum, user “iamnaive,” asked, “When (will) eSports betting be available? Will it be possible to bet on them during the current competition (Bethereum Gaming Contest)?”

Bethereum CEO Giacomo Tognoni shared the importance of having an attractive eSports interface before adding it to their platform. “I actually asked the team not to add eSports to this betting game… If you’re going to bet on video games, you need that page to look more like a video game, with game imagery, and gaming elements.” Bethereum is currently hosting a gaming contest, awarding 8 million free tokens to bettors. While the current contest doesn’t support betting on eSports, Giacomo states, “the next interface will be supported to accomplish just that.”

Betting platforms hosted on a blockchain create a trustless system supported by Smart Contracts. Transactions are processed instantly by a distributed ledger rather than having a company determine if bettors will receive the payouts they are entitled to. eSports fans can bet on their favorite teams and players without worrying that their winnings will be denied or withheld.

As eSports continue to grow, expect blockchain projects like Bethereum to welcome them in with open arms and dedicate time and resources to cater to their players and fans. There is no mistaking that both eSports and blockchain technology are here to stay, and betting is likely to become a significant part of their relationship.

A sneak-peak of the in-progress designs for the true Bethereans who read all of our articles!

Bethereum is a decentralised, social-betting platform based on Ethereum technology and Smart Contracts. Want to know more? Start here.

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Bethereum is a decentralised, social-betting platform based on Ethereum technology and Smart Contracts. Unique social and gamification elements deliver the most engaging and secure betting platform on the market.