BX.BET - Blockchain-Based Betting & Prediction Market

September 05, 2018

BX.BET - Blockchain-Based Betting & Prediction Market

BX is a blockchain-based betting and prediction market ecosystem, designed to change the way the world bets. With BX, we are creating a decentralized betting exchange without a middleman and centralized structures, that has the ability to disrupt and redefine the traditional betting industry by offering its users a unique and enhanced experience. In recent years the online sports betting industry has been characterized by strong growth. Since 2009 the market has doubled in size, and currently has a volume of nearly 60 billion USD. However, despite this prodigious growth, the online gambling industry has experienced decreasing levels of trust and diminished reputation in recent years. Traditional online bookmakers face many problems, including lack of trust, lack of transparency, strict regulations, and high operational costs resulting in high margin odds in favor of the bookmaker, all stemming from their centralized structures. Big centralized companies are in charge of the outcomes, odds, and player funds, which ends up in a lack of transparency and trust as perceived by the end user. BX will tackle these problems at source, by providing a betting ecosystem that utilizes blockchain technologies, especially smart contracts, to give its users full control over their funds and betting transactions at all times. By decentralizing the betting process, BX allows the players to benefit from full transparency and total freedom in their betting experience, and neutralizes the aforementioned problems and weaknesses of the current betting industry. The key paradigm of BX is our belief that betting should not be restricted, and that the control and power of all betting transactions should be given back to the community. On BX, users can take over the role of the bookmaker, create their own markets, place and offer bets with self-determined odds, and even participate in the outcome determination of a market. Ultimately the community decides whether a new market or a bet gets accepted or not. The usage of the bespoke BX token as the key component to enable all betting transactions on BX, together with a strongly community-driven ecosystem, creates a unique and unprecedented betting experience with a strong focus on transparency, fairness and decentralization - without any limitations and restrictions.

PROBLEMS OF THE BETTING INDUSTRY

LACK OF TRUST

Traditional betting operators require a high degree of trust - which is sometimes exploited by the bookmakers, to the detriment of their users. On the other hand, this responsibility results in high procedural and financial expenditures for the bookmakers as well.

LACK OF TRANSPARENCY

The processes of traditional bookmakers remain hidden, giving no insights into what information led to specific odds and making it impossible to ascertain whether the odds are fair or set too far in the bookmakers' favor.

INTERFERENCE OF PROVIDERS & LIMITATIONS

Within the current sports betting landscape, the players are very limited in their freedom of betting. bookmakers can limit the players in their betting behaviour and even penalise players who frequently win, by banning or restricting them.

HIGH COSTS

High costs are required to run a traditional betting operator safely and efficiently for both the players and the company. These costs are reflected in high margin odds and directly charged to the players.

THE SOLUTION

Our decentralized, blockchain based approach eliminates non-distributed processes and allows players to benefit from full transparency and total control over their betting experience. We remove the middleman and hand control back to the user.

BX neutralises all problems and weaknesses from the current betting market, by introducing a powerful and distributed ecosystem running on self-executing smart contracts, which significantly cuts transaction and operational costs.

TOKEN SALE DETAILS

Pre-Token Sale start date 3rd September 2018

Pre-Token Sale end date 17th September 2018

Main Token Sale start date 8th October 2018

Main Token Sale end date 5th November 2018

Total token supply 200,000,000

Total tokens offered 120,000,000

Hard cap $20,000,000

Soft cap $5,000,000

Token symbol BX

Token sale price 1 BX = 0.19 USD

Blockchain used Ethereum