UBET Breaking the Silence
From the previous posts, you may have tasted our perspective on sports betting and the approach to innovate this industry. We contrast traditional sports betting and stock market trading and illustrate how we can bring goods from financial and blockchain technology. Today, we want to break the silence and tell our fans about ourselves!
UBet vision & mission
UBet is a decentralized sports betting platform. We serve sports fans by providing better access to betting services. An open sports betting system that is secure and transparent to users. The bettors can just enjoy without worrying about sportsbook authorities like
- Banning
- Bet limits
- Poor Odds / Prices
- Poor Product Experience, especially when live betting
- Slow payout process
- Bad customer service
We want all bettors around the world to benefit from our innovations.
Another great merit of UBet is that we don’t have a centralized bookie! Anyone can become a “UBet bookie” by participating in liquidity provision. Being a liquidity provider (“UBet bookie”) means that you are providing liquidity to the betting market (see the details in this post).
Our objective is to enhance the existing classic sports betting business into a modern, cutting-edge, and worldwide scalable model from both business and technology innovation perspectives. We view sports betting as another type of financial instrument that can be traded just like other derivatives. We envision sports betting to be fairly traded over the marketplace, digitized using smart contracts, and stored in a public ledger.
Development
The UBet platform is a market where bettors can bet and trade their wager contracts that pay based on the outcomes of future or live sports events. UBet’s autonomous protocol provides betting odds and enables a permissionless and highly liquid market (see the details in this post).
The team is working toward releasing a beta version in the near months. The good news is that we are pleased to announce that Dan-Hannigan-Delay (the CEO of Sports Information Solution and a former Sportsbook Director at DraftKing) and Michael Hall (Professional sports bettor and the founder of EdgeFinder Sports) joined UBet as strategic investors, helping us make the product special!
Once the beta version is released and tested, we will be ready to get our smart contracts audited for security. The primary components of the beta version are
- Pre-match betting platform design
- Bet event contracts
- Betting contracts
- AMMs & liquidity provision
- Auto-deployments
- External data feeds
- Contracts that are related to UBET tokens & tokenomics
We will prepare a technical article when we go into the audit. After the audit we will release UBet Sports version 1, the MVP.
We are just starting to build the community around the UBet discord. We will try to add more features that facilitate sports betting, make more effort to share information, host surprise giveaways, and answer questions in our discord. Speaking of which, please reach out to us @UBet__Sports on twitter or on our discord if you have experience with community building/management in sports betting and want to get involved. We would love to find a place for you :)
Roadmap
Loosely speaking, there are three checkpoints to be made over this year.
CP1 — UBet platform release
- Pre-match soccer betting on Polygon mainnet
CP2 — Reward & LP program
- General LP Pool launch (will explain this in the future)
- Bettor incentive programs
- Gamifying sports betting
CP3 — Liquidity Provider Pro
- LP Earning dashboard
- Adding more sports
Hope that you are getting excited as we are from this list!
Conclusion
Am I the only one who is pumped up for UBet’s master plan?! We don’t want to over promise but will not under-value our vision. We’ve got so much to show and are hoping that you come along with us and shape the future of sports betting! So please follow us and join our discord:
Website: http://ubetsports.io/
Twitter: https://twitter.com/UBet__Sports
Discord: https://discord.gg/B7brvUEAFG
LinkedIn: https://www.linkedin.com/company/ubetsports/
Disclaimer: The above content is intended for information purposes only and is not intended to be gambling, trading, nor investment advice. Please perform your own analysis before making any betting, trading, or investments based on your own personal circumstances or seek a duly licensed professional for gambling and trading advice. Accordingly, neither UBet nor its partners, directors, shareholders or employees are liable for any damage, expense, or other loss that you may incur out of reliance on the above information.
