What Is Bettium?
Bettium is a decentralized sports betting platform, currently in development, that will be powered by the Ethereum blockchain once it goes live. The platform is currently holding a token sale for its ERC20-based BETT Token.
Who Is Behind Bettium?
Bettium was founded in September 2017 and is currently headquartered in Estonia. Executives include Russia-based CEO Nathan Hunt, Paris, France-based Business Development Manager Ben Marrel, and New York City-based Chief Legal Officer Brian Bellerose. These individuals each have years of experience in managing or advising businesses, with Hunt and Bellerose specifically being experts in international business dealings with the Russian Federation. Marrel, meanwhile, is a founding partner of European venture capital firm Breega.
How Bettium Smart Betting Analytical Blockchain Works
Bettium, according to details shared by the company, will be an international, decentralized peer-to-peer sports betting platform that will have many advantages over traditional online betting systems. These advantages include considerably lower usage fees, transparency in terms, odds, and fee structures, and high levels of security through the use of smart contracts.
Additional benefits to the platform include analytical tools that will be made available to bettors. These tools will incorporate Big Data and AI in order to provide expert sports betting forecasts as well as algorithmic betting for bettors to execute complex betting strategies automatically based on a number of variables.
Bettium will be cross-platform, allowing access over the web as well as iOS or Android devices. The platform will be monetized not just through betting fees but also through fees charged to fund managers, collecting fees for access to paid subscriptions and services like AI assistance and automated betting functionality, and forecasting fees.
Monthly subscriptions are expected to cost an average of $25 a month or less, payable in an equivalent amount of BETT tokens.
Bettium BETT Token ICO Details
As Bettium is being built on the Ethereum blockchain, it uses the ERC-20 standard for its BETT utility token, which in turn will be used as the platform’s currency.
The Bettium token sale will have a total of 100,000,000 BETT available. Initial price per token is the equivalent of $0.50 per 1 BETT; additionally, 1 ETH will net 800 BETT.
Bettium will be accepting payments in either ETH or Bitcoin. The token sale has a soft cap of 20,000 ETH and a hard cap of 75,000 ETH. The date for the beginning of the token sale has yet to be publicized, but is likely to be on or before June 2018.
Bettium certainly seems to be a new project that has some serious potential behind it, at least as a viable alternative to traditional online sports betting platforms as they exist today. Blockchain technology is certainly ideal for gambling, gaming, and sports betting thanks to its high levels of transparency and security, and with the addition of well-programmed smart contracts the level of automation of such a platform certainly takes the human element out of the equation. When it comes to gambling, the fewer humans involved, the better — removing the temptation for platform admins to skew the numbers in their favor makes the entire system more fair and equitable.
At the same time, there’s plenty at stake here, and the value of any investment in Bettium relies on whether the platform becomes not only viable but successful and popular. Bettium says that its BETT token is not meant to be used speculatively so much as a utility token, so investors looking for speculative gains may be disappointed. However, if you’re an avid sports gambler, or if you’re looking for more modest returns in exchange for a bit more potential stability, then Bettium might still hold enough interest for you to pursue. The low price of BETT tokens are another advantage in this case.
As of this writing, there’s no telling when the Bettium token sale will begin. To that end, we recommend keeping an eye on this one if you’re interested in testing the waters.