Announcement: API in the works!
Bettors Playground
The first of MEvU’s solutions to betting allows everyday users to create smart profitable margins that earn them ETH. When framing odds for a particular event, users will set odds that they think will attract betting on both sides of the market, therefore balancing their liability given the possible outcomes.
The most accurate and knowledgeable betters will be rewarded for creating lines much like a online bookie, but on the MVU platform. This means that any entity can host odds, and earn near risk free profit without having to go through any hassle to launch an ETH based sports book. Skipping out on paying the developers, legal, and licensing fees that online books do today.
The more lines a user creates the more attractive margins they can offer thus creating a competitive market. Many online sports books do not have the capability to bet in cryptocurrency and that is where MEvU comes in.
Whitelabeling the API
In addition to this, websites such as online casinos, eSports teams, or tournament host that may not have the back end to have users bet in Ethereum can add the API directly to their websites by partnering with MEvU and earn a share of revenue.
This is a mutually beneficial relationship as users create liquidity for the MVU token. Traditional betting can be opened up to the entire cryptocurrency market whilst promoting their own branding, and receiving a portion of the fees in the process. Through the use of smart contracts, payouts become automatic and guaranteed. These same companies will save thousands on building out the necessary infrastructure to facilitate these types of bets.
In addition, partners of MEvU who want to use the API can choose to implement their own branding or integrate it into their site to bring a level of uniqueness to their product.
Groundbreaking Benefits
This is beneficiary for MVU as it creates liquidity within the token and spreads the decentralization of gambling. A concept MEvU calls “bringing betting back to its basics”. Allowing what crypto enthusiast like to call “whales” to place bets on both sides of the line to become what is essentially a sportsbook for a process as simple as signing up, and fronting the capital.
In order to boil this concept down for those less familiar with the inner workings of a bookie, let’s take the following example:
One could bet 10,000 ETH on both sides of the next super bowl. Through creating smart competitive odds, it won’t matter who wins as the user will earn the edge, or “vig”. At the end of the season, the said user would be paid out more as the facilitator the more accurate the odds were that the user created.
Through white labeling the MEvU API any person, organization, or team can now become your favorite bookie.
