EtherWorldCup Offers A New Way For Match Betting
The World Cup, the greatest sports event of the whole world, has just begun and sports fans are eager to bet on their favorite teams. If you like to bet, you will also like to know that a new betting company has appeared in the market with the objective of helping people to invest using Ether.
What Is The EtherWorldCup?
The EtherWorldCup is a new Ethereum betting platform that was created specially for the 2018 FIFA World Cup. This new solution intends to combat the problems that many gamblers face in the industry today like high betting fees, lack of transparency, bureaucracy, revealing too much sensitive data about yourself and having to trust other people with your money.
With the technology of the Ethereum blockchain and smart contracts, this company intends to provide solutions that will make the betting ecosystem considerably more transparent, discrete and without any need for trust, as smart contracts can be used as trustless tools that will automatically deliver your money whenever you win a bet.
This project decided not to have an ICO exactly because it was created specifically for a special date, the World Cup, and because using Ethereum, which is the second most popular token in the cryptocurrency market, can be considerably easier for anyone involved.
The creators of EtherWorldCup believe that ICOs should only be used when they really have the potential to bring some new value to the community instead of just being ways of companies getting money.
How Does EtherWorldCup Work?
The company has decided on the easiest possible approach while developing the betting platform. All that you have to do to participate is to install Metamask on your computer and to have ETH to bet on your favorite team.
All the trading is done via smart contracts and you do not need to give any personal information to the company to bet. The bets are not audited, as the site claims that auditors have high fees and they wanted to decrease the cost of investment for the people who decided to use the platform. On the other hand, the company states that it has taken all the important measures to keep your money safe.
The smart contracts ensure that the fees are low and never exceed 7% and they will only be charged when a user decides to give up on a bet or when it wants to withdraw the money. The system uses two sports live score APIs to determine the winner, football-data.org and Sportmonks. EtherWorldCup states that its site is remarkably simple and you can bet with few clicks.
While it is true that there are several gambling and sports betting sites based on the Ethereum blockchain around, this one was created specially for the event, so the creators of the company hope that the users will decide for it if they want a simple way to bet.