Booking without a Bookie: MEVU’s P2P Wagering Platform

Kelvin Coelho
Jan 4, 2018 · 3 min read

The MEVU’s P2P Wagering Platform is integrating with the blockchain to allow individuals to bet on anything, anytime, against anyone through a peer-to-peer decentralized network.

MEVU is a peer-to-peer gaming application that will allow players to test their skills and compete individually or in pooled games by creating custom social bets or bets predicting the outcomes of popular sporting events.

Traditionally, online sports books face a great deal of regulations and expenses. Not only do they face large economies of scale as a barrier to entry, but they lack access to mainstream marketing channels. These factors are coupled with limited withdrawals, payout issues, and slow processing which contribute to the negative stigma surrounding online wagering platforms. Centralized sports books require consumers to trust that they will not be subject to government intervention, fraud, or hacking.

MEVU removes the physical sportsbook from the value chain taking a economically and politically feasible approach to online wagering platforms. This allows MEVU to charge 1/5th of the average processing fees. Instead of sportsbooks, the value of the bet is stored in a smart contract on the Ethereum blockchain. This eliminates the long processing times, heavy fees, and trust issues that users are subject to with centralized wagering platforms.

Users can create custom bets on anything with two possible outcomes. Running on Ethereum , MEVU’s open-source smart contract creates a secured escrow that is publicly viewable at all times. This allows players to follow their wager throughout every step of the betting process.

Disputes between players on supported sports games are sent to “Oracles” who are incentivized with percentage payouts ranging from .25% to 1.25% of fees to reach resolutions through consensus. Integrated reputation systems and leader-boards foster the spirit of competition and deter malicious behavior.

The MEVU token (MVU) offers multiple utilities to the platform which include:

1. Reporting the results of sports games by reaching consensus

2.Competing on exclusive discounted games

3.The right to participate in monthly lottery

4.Claiming referral rewards

Since oracles must stake MVU in order to earn Ethereum, and the amount of Ethereum earned is proportionate to their percentage of all MVU staked, oracles are highly incentivized to stake as much MVU as possible. Every oracle attempting to maximize their Ethereum earnings, combined with the scarcity of MVU, will result in a steadily rising demand for MVU as new users are introduced to the platform.

Team

The MEVU founding team and advisors come from the finance and technology sectors. With 20+ years of combined experience in startup consulting, programming, and gaming marketing, meVu is creating a sustaining, fully decentralized peer-to-peer wagering platform that could revolutionize the online betting.

What’s Next

MEVU aims to become the most revered global platform made exclusively for players to bet anything, anytime against anyone. MEVU will initially focus on social and sport head-to-head bets, but will expand to multi-bets in which multiple players can take the complementary position against a single larger bet.

MEVU offers a comprehensive solution to a community which has lost individual control over peer to peer interactions. Placing control back in the player’s hands through their decentralized platform, MEVU is fostering global competition while keeping value with the players — not bookies.

Learn More @ www.mevu.bet

mevu

As a peer-to-peer network, MEVU allows people to bet on anything, anytime, against anyone.

Kelvin Coelho

Written by

Co-Founder and Product Lead at meVu

mevu

mevu

As a peer-to-peer network, MEVU allows people to bet on anything, anytime, against anyone.

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