Betrium is a cryptocurrency for international sports betting. Find out everything you need to know about the ICO and platform today in our review.
What Is Betrium?
Betrium, found online at Betrium.co, aims to offer the first worldwide betting service based on a party-decentralized platform. The platform will consist of a betting exchange and sportsbook with zero commissions. Users can bet using cryptocurrencies, while event organizers, developers, and third party service providers can build on the platform.
The goal of Betrium is to capture a slice of the $533 billion international regulated gambling market. There’s also a $1 trillion unregulated gambling market, according to data from Interpol.
What Problems Does Betrium Seek To Solve?
Betrium believes that today’s regulated gambling problems have some major issues, including all of the following:
- No worldwide support; gambling platforms are often localized to specific jurisdictions and countries
- No support for cryptocurrencies
- Organizers cannot use the platform
- Unfair conditions
- High commissions
- No API
- Bot blocking
Betrium Features And Benefits
Betrium aims to solve all of the problems listed above. Here are some of the key features and benefits of the platform:
Betrium works globally and supports cryptocurrency withdrawals all over the world. The platform has 24/7 support and works with 18 different languages. Specific cryptocurrencies supported by the platform include Ethereum (and all ERC20 tokens), BTC, LTC, XZC, and DASH.
Betrium doesn’t take commissions from money deposits, withdrawals, or winnings. They also don’t charge taxes on personal income. Overall, this structure allows them to charge lower commissions than other blockchain platforms. In a press release announcing Betrium, however, it lists commissions of “0-1%” on money deposits and international money withdrawals, although no commissions on winnings.
Organizers Earn Through The Platform:
Betrium provides a unique betting creation platform for event organizers, including e-sport streams and small sports leagues. As a “platform for organizers”, Betrium provides specialized solutions to partners – like event organizers – that want to earn money. Each owner of a Betrium Network account can create custom events, then start earning on betting activity in just a few clicks. E-game organizers, or players, can create the match on Betrium, add potential outcomes, and publish it.
Betrium claims to have created the first API that offers an advanced open API for developers, bots, third party apps, and betting service providers. The Betrium RESTful API will allow developers to “create as much betting bots as possible.”
Each BTRM token holder will receive a portion of 50% of Betrium’s revenue. The Betrium token “is directly backed by Betrium financial success and has a real increasing worth,” explains the official website.
Bets Occur Off-Chain:
One of the reasons Betrium can provide the above benefits is because bets occur off-chain. The bets are only added to the blockchain when the event happens and the outcome is undeniable. However, bets are broadcasted all over the network instantly in order for odds to be recalculated. The end result of this on-chain/off-chain system is that Betrium is able to provide high-speed betting service built on decentralized IT architecture.
The Betrium ICO
Betrium is launching an initial coin offering for BTRM tokens. BTRM tokens are ERC20 tokens built on Ethereum. There will be a total supply of 140 million BTRM tokens.
The pre-ICO is scheduled for October 23 to November 14, during which you can buy 6000 BTRM tokens for 1 ETH (a 500% discount over the retail price). There’s a soft cap of 320 ETH and a hard cap of 2330 ETH during this token sale. 14 million tokens (10% of the total supply) will be issued during the pre-ICO.
The general ICO takes place from December 7 to January 7, during which 63 million tokens (45%) will be distributed. The price of BTRM tokens will depend on the number of tokens issued during the pre-ICO. The tokens are issued at a rate of 1 ETH = 1200 BTRM during the ICO.
A secondary coin offering (SCO) will take place at some point in the future. 20% of the total supply will be available during the SCO.
Of the remaining tokens, 20% will be given to Betrium’s founders, management, and employees while 5% will be given to advisors, sports representatives, and e-sports streamers.
No tokens will be created in the future. The maximum supply is fixed at 140 million.
Who’s Behind Betrium?
Betrium’s team includes Maksym Suvorov (Founder and CEO), Andrey Rybalchenko (Analyst), Nataliia Khotiantseva, and Alex Bykhun (CTO).
The team describes itself as a group of sports traders and analysts, mathematicians, smart contract and software developers, front and back-end web developers, lawyers, management experts, PR/SMM experts, and political technologists.
Betrium aims to create a blockchain-based sports betting platform that offers major advantages over centralized competitors. The platform consists of a unique “semi-decentralized” system where not all information is instantly recorded on the blockchain at all times. Some transactions take place off-chain, while betting activity is recorded on-chain. The end result is faster transactions and lower costs than both centralized and decentralized sports betting competitors.
Betrium also aims to create one of the best betting APIs, allowing event promoters – including eSports tournament hosts – to create bets related to their event.
To learn more about Betrium and the BTRM ICO, visit the platform online today at Betrium.co.