P2P approach to restoring socialized, competitive betting through blockchain for transparency, wide-spread scalability, and adjustable risk/rewards

Primary factors such as an explosion in IoT, improved payment services, and relative easing of regulatory measures have led to the development of a 46.9 billion online gambling sector with projections of a staggering $123.5 by 2026. The rise of crypto is being viewed as another potentially significant, but as of yet, a relatively nascent catalyst that could elevate it to another stratosphere.

Sports betting continues to remain a popular pastime but has yet to truly flourish due to the limitations of traditional sportsbooks such as high licensing and overhead costs, not to mention highly restrictive regulations.

To combat the high costs and murky regulatory waters that sports betting currently faces, a decentralized P2P betting platform called MeVu will center on bets made between individuals and groups along with customizable market risk/rewards through a scalable white label solution.

This approach will deliver an unprecedented level of variety when it comes to custom, head-to-head, prop betting, and even novel additions such as group-based pooled bets.

An innovative feature enabling the creation of new lines allows for those with the requisite capital to become their own sportsbook while also allowing users to participate using cryptocurrency for a significant competitive edge.

Through the implementation of an integrated API, this will provide multiple benefits such as creating increased user liquidity while also greatly enhancing branding efforts as partners share in MeVu infrastructure and revenue.

MeVu: Me versus you focuses on the old-school elements of friendly betting

MeVu’s unique P2P decentralized platform helps combat the presence of fraud and unethical practices that can plague the average sportsbook while also providing much larger payouts due to being able to direct more resources to the betting ecosystem as opposed to overhead costs.

Smart contracts ensure that all information is stored in a transparent manner, which leads to visible practices across all transactions including expediting payouts in a timely and accurate manner. Through MVU tokens, this cuts out the need for a cost inefficient and frustrating third party payment processor.

All betting outcomes are carefully monitored by users staking MVU to serve as Oracles, who receive Ether in exchange for accurately reporting smart contract-stored betting results. To further prevent any potential fraud or collusion, misreporting results in all Oracles assigned to a particular event losing their rewards as well as half of their original stake.

Each event will have a minimum number of required Oracles as well as a minimum% that needs to be met in order to establish a consensus. In cases where this minimum is not met, the betting amount will be returned to users while the gas expenditures remain forfeited.

Metrics such as reputation and dispute percentage will foster user accountability for their actions. The dispute percentage will show how often a certain player was involved in a disputed betting outcome while leaderboards will show win/loss ratios along with a unique matchmaking ranking (MMR).

Revenue stream provides a win-win scenario

For every successful transaction in a custom or social bet, a small transaction fee will be incurred. The largest share will be distributed to Mevu while another portion will be allocated towards a monthly lottery which will randomly reward an Oracle or MVU holder. The remaining fund will be divvied up equally among the Oracles responsible for overseeing the bet.

This unique structure ensures the growth of MeVu, rewards Oracles for accurate betting transaction resolution, and a much lower transaction fee to divert maximum resources for the user’s benefit.

With a working dApp and a beginner-friendly platform tutorial in place, MeVu’s innovative P2P sports betting platform will provide a breath of fresh air by incorporating more versatility, transparency, and efficiency for both brands and users frustrated by the industry’s plateau.

The opportunity to purchase MVU tokens will start on June 10: https://www.probit.com/en-us/ieo/mvu-round1/0