Bethereum BTHR ICO: Decentralized Social Sports Betting?
Bethereum is a blockchain-based sports betting platform with social elements. Find out how it works today in our review.
What is Bethereum BTHR?
Bethereum, found online at Bethereum.com, is a sports betting platform that aims to deliver “the most engaging and secure betting platform on the market.”
The platform’s token sale is scheduled for March 2018. The company’s Bether tokens will be used for all transactions on the Bethereum platform. However, the company also hopes that its Bether tokens will grow to become the standard token used on other platforms as well.
Bethereum hopes to launch on iOS in the near future. The company already has a fully functional prototype. That prototype features a selection of sports and leagues to demonstrate how Bethereum will eventually work. You can create and enter bets using virtual currency.
How Does Bethereum Work?
With Bethereum, players don’t bet using money. Instead, they bet using Bether tokens. The ultimate goal is to establish Bether token as the market standard for betting, allowing players to use it across Bethereum and other gambling platforms.
Bethereum wants to make sports betting fun and social. Players don’t bet against “the house” on Bethereum. Instead, they bet against other players. All bets are secured using the blockchain and smart contracts.
Here’s the basic process you’ll use to create a bet on Bethereum:
Step 1) Create a bet or join an existing bet in any public group
Step 2) Setup the rules by customizing the buy-in, reward method, and matches
Step 3) Challenge friends; any friends will receive an immediate notification through the Bethereum app, then can join the bet immediately
Step 4) Monitor the bet’s progress, receiving notifications about the winners, group members, and global rankings
Ultimately, Bethereum wants to provide a versatile platform that supports a broad range of betting events, users, and commercial partners. Bethereum will also be used to operate contests outside of the sports world, including eSports, fantasy, live games, and user-created bets.
Some of the core advertised features of Bethereum include:
Once a bet is finished, winnings are transferred to your wallet instantly.
The Bethereum app is easy-to-use and is designed to be intuitive even for non-gamblers.
Safe and Secure:
All Bethereum transactions are secured by smart contracts and blockchain.
All transactions are permanently recorded on the blockchain, making it easy to see all completed transactions on the platform.
Bethereum will be available on iOS, Android, and web browsers.
Bethereum lets you create bets and invite friends. You can also interact with other bettors using the built-in chat, keep track of the progress of bets and leaderboards, engage in live betting events and competitions, and interact with players in other ways.
What Problems Does Bethereum Seek to Solve?
Bethereum’s whitepaper identifies several major problems with today’s sports betting industry, including all of the following:
Over time, the house always wins. Odds are massively in favor of the bookmaker. Sometimes, a bet has no winners and the bookmaker “takes it all”. In other cases, bets where the bookmaker stands to make a large loss are canceled. In Bethereum, all bets have a winner, and the money stays with the players.
Lack of Transparency:
Betting companies are rarely transparent. Players don’t get insight into how odds are created or how much money is pouring into a bet. Some platforms even manipulate odds after a game starts. In Bethereum, meanwhile, players set the odds and all transactions are visible on the blockchain.
Betting Limits and Low Returns:
Today’s sports betting platforms have problems like payout-matching liability, which means players are limited on how much they can bet. Bettors are faced with low limits and unattractive odds, which means they often seek higher returns in underground betting. On Bethereum, there’s no limit on odds and returns. The platform plans to launch a “High Roller Club” for “truly massive bets”.
Lack of Social and Gaming Systems:
Online betting is impersonal. People bet against faceless bookmakers instead of playing with friends or coworkers. It doesn’t feel like a game. Bethereum, on the other hand, is a social, community-driven platform with gamification systems in place. As the website explains, Bethereum wants to “make betting fun and social again.”
Centrlaized sports betting platforms are vulnerable to external and internal attacks.
Outdated Payment Methods:
The Bether token is designed to be a seamless, instant payment method. There’s no need to mess with credit cards, wire transfers, bank deposits, and other outdated payment systems.
Betting operators charge fees for everything, and gambling platforms are filled with hidden fees (like premium exchange rates). Bethereum plans to only take a small fee from a player’s winnings, then partially reinvest that fee into the network.
How Does the Bether Token Work?
The Bether token (BTHR) is the in-app token for the Bethereum app and platform. All transactions on the platform will be executed using Bether tokens. As mentioned above, Bethereum’s team wants to make Bether a global standard for online sports betting. They want the token to be used outside of the Bethereum platform.
As Bethereum acquires players and partners, demand for the token is expected to rise. The BTHR token sale is launching in March 2018. However, the company has not posted any further details about that token sale online.
Who’s Behind Bethereum BTHR?
Bethereum’s team was formed in March 2017. A prototype was completed by August, and the mobile app is scheduled to launch by Q3 2018.
Key members of the Bethereum team include Peter Gal (Co-Founder) and Martin Herman (Co-Founder). Peter has 16 years of telecommunications, IT, and banking experience, while Martin is an Austrian entrepreneur who has worked on projects throughout Silicon Valley.
Bethereum is registered in Hong Kong.
Bethereum BTHR ICO Conclusion
Bethereum is a sports betting platform that aims to make betting fun and social again. The platform, scheduled for launch in Q3 2018, will have social and gamification features available to sports bettors. Bettors can create their own bets with friends or family and setup their own rules. Instead of betting against an impersonal house bookmaker, you’re betting against friends.
The token sale for Bether tokens (BTHR) begins in March 2018. To learn more about the platform, visit online today at Bethereum.com.