FansUnite — A Love Letter to Bettors
The value of a crypto token is related directly to the underlying utility that it unlocks. Traditionally, connecting customers with inherent utility in a gambling product required expensive gateways controlled by firms that don’t have the customers best interests in mind. Especially for North American bettors, depositing money into an offshore bookie is often a disappointing and risky move.
The FansUnite Token (FAN) is a token which avoids all of the troublesome payment problems associated with legacy gambling. By connecting FAN value directly to Ethereum, we are betting on the stability and future value of the Ethereum roadmap. Smart contracts are a natural fit for sports gambling, ensuring contracts are honored exactly as entered — no reneging or canceling of bets.
Decentralized currency is a great argument for passing value to the sports bettor as it allows money to quickly move in and out of the exchange. But is this really what makes a coin valuable? The answer is no and it’s not a valid economic argument. The inherent value of a coin is the underlying value of the product or service that the coin facilitates and FAN is laser focused on making bettors happy.
FAN focuses on making sure bets are taken at expected market prices
Peer to Peer networks like Wagerr are interesting but miss the mark when it comes to economic value. The reason is that liquidity is king and without liquidity bettors will struggle to get their bets matched. There is a reason why Betfair is an undisputed monopoly. Any token relying on lay betting to generate fees will discover that liquidity is expensive. For this reason, FAN focuses on a sports bookmaking business with exchange like properties. Ensuring bets are taken is the most important function of a bookmaker and our focus from the start is to work towards highest limits at the best price. Can token competitors ensure that bettors will get a market price on a Padres day game? It’s hard to see this when Betfair, Smarkets, Betdaq and 5 tokens are all duking it out for the customers attention.
FAN focuses on Machine Learning to provide stable value and low costs.
We have quietly been expanding our machine learning team in order to match the technology of the world’s greatest bettors. The main criticism of offering 1 cent vigs is that arbitrage bettors will destroy the underlying value of the coin and it’s a correct assumption to make. Any peer 2 peer offering will inevitably seed markets for years to ensure customers can get bets down on the markets they love. FAN starts from the point of view that Deep Learning methods are the best methodologies to create sharp lines. By creating the sharpest lines that are technologically possible, we can be arbitrage friendly and ensure that our core token base is consistently growing.
But that’s not the only benefit of automated line making! Internally using automation and modern technology drastically reduces our costs and eliminates the need for risk management almost entirely. The large costs incurred by legacy gambling who often employ whole teams to outright ban winners is directly passed on to the customer.
FAN does not compromise stability of operations for unclear gains
Fan is a semi-decentralized exchange. What this means is that we are professionally licensed and regulatorily compliant. We work with regulators to ensure a stable operation. Although decentralization is definitely an avenue that theoretically guarantees survival of prosecution from regulatory bodies, it is risky and not likely to be effective in the long term. The risk that governments and regulatory bodies with deep pockets go after the key stakeholders is not trivial. We are the very first token to have built a relationship with regulatory bodies and licensing authorities and see this as a stabilizing force on the value of the FAN token.
We also know that bettors don’t want to be tracked and profiled by the bookmaker and that’s why we have a strict “hands off” policy to storing of personal information. Although we are KYU compliant, our betting smart contracts merely record your address — not the personal information tied to this address. We store the minimum information required for KYU compliance, and do not record which identity is tied to which address. There is no way we can ever see who is betting and simultaneously are able to ensure the coinbase is legal, stable and won’t be blown up by lawsuits or governments for noncompliance.
Our team has core members with key competencies in law and accounting and is backed by Victory Square Technologies one of Western Canada’s premier public VCC’s in Canada. Victory Square offers many ties to government agencies, legal counsel and reliable long term, high integrity investors who won’t “pump and dump” the token. The last thing the average bettor wants to see is a coin fluctuating in value due to unforeseen circumstances. Being a public company, FansUnite is committed to transparency and stability.
FAN is focused on providing traditional marketplaces bettors want.
We know that fans want to bet on everything from the NFL to high school Jai Alai, but the focus for the average bettor needs to be on the biggest markets with the types of bets we expect to be there. Our Launch in 2018 will strategically focus on the big 5: MLB, NBA, NFL, NHL and worldwide FIFA. We do expect to expand into other great marketplaces in early 2019 but the focus on the largest markets allows us to provide the following bets you love through our sportsbook:
· Point Buying
· If Bets
In this manner we are much more like 5-Dimes and PinnacleSports.com in the sense that we want to maximize the betting options of the bettors in the biggest markets first. Freedom of choice is pure utility to the bettor that peer to peer and fully decentralized models will never be able to deliver.
FAN is a social token focused on social tools that aid bettors
As we mentioned briefly before, the FAN team is 100% committed to social sports betting. We are well known for our platform which connects bettors to transparent results-based analytics and a second to none social betting environment.
We always ask ourselves the question: Why should bettors like Tony Bloom get to enjoy cutting edge analytics and mathematics and not our fans? Starting in late 2017 our core customer base will get exclusive access to our predictive analytic research dashboard. By open sourcing historical predictive data, we get our customer base to the betting window quicker than ever before. Educating our customers is one of the best ways to foster a loyal token base and as a side effect increases token value simply by reducing research time by up to 80% for the average bettor.
Our sportsbook will directly connect our social network to the bookmaker directly so you can tag along and follow your favorite punters and use our data API to your full advantage. Saving customers time and money while allowing them to get their bet down quickly is pure utility and this is what makes FAN a winning token.
Tokens are only as valuable as the underlying utility they unlock. By empowering our customers with tools and unique data we get them to the bookmaker and give them the bets they want. Fancy coin economic papers are interesting, but does fabricated deflationary economics come into play when the central utility of a token is broken? We are betting that you care more about making bets in markets you like at a good price with no player limits. After all, betting is about having fun and not holding onto tokens like a dusty banker hoping they will go up.
Velocity of transactions is a key to increasing demand but coin stability is key. Because FAN is a token that did the tough work on fostering good regulator relations, you can be ensured that your coin is safe and backed by licenses in every country we operate in.
Last of all, FAN is dependent on good old-fashioned book making skill and by building a core data science team of experts in the field, we make sure the coin base stays put, providing the stable liquidity required to get big enough to grow! We don’t compete with the other tokens but instead hybridize the model to maximize utility aka: welcoming winners at high limits.
Stability, Utility, Accuracy — this is the foundation of FAN.