The global gambling market has seen a big surge in its online popularity since the past decade or so. Today, we have reached a new crossroads, where we now have the possibility to use cryptocurrencies to make gambling easier, cheaper and more fun. From a statistical point of view, we can see that by the end of this year, that the estimated worth of the online gambling industry will be $50 billion USD (based upon conservative estimates). This is not all, according to future forecasts, it is estimated that if crypto assets become more widely available, the industry will continue to grow at a rate of 10% per year.
At this point, it should also be mentioned that while BTC was previously the preferred choice of currency in the gambling world, the scene is now being dominated by Ethereum. As the ETH network keeps growing, it is estimated that soon, a major chunk of the gambling market will be using this asset to perform all of their transactions.
What Is Hybrid Betting?
Simply put, Hybrid Betting can be thought of as an “Ethereum-based betting game” that does not employ the use of a mandatory house edge. The platform uses a model that is quite unique, and offers features that are currently not available on any other gambling website. Some of the key areas where Hybrid Betting shines includes:
- The platform does not make use of any quotes
- There are no middlemen involved in the entire structure.
- Only players directly interface with each other, there is no third party involvement at all.
What Structural Model Does Hybrid Betting Use?
The profit model that is used by the company is based upon the “number of shifts that are played by an individual”. For example, each sporting event can be considered to be a shift, at the end of which, the company takes a nominal fee, and then starts a fresh round of betting. To further elaborate on this point, we can see that each event shift can be composed of “one sporting event or more”.
Other Benefits Of Hybrid Betting
As mentioned earlier, the native HYB token will be based on the ethereum blockchain and will be used to deliver users with beneficial market incentives.The tokens are secure and easy to use. Not only that, they can also be used for trading, making purchases etc.
Dynamic Fee Model:
The fee structure that Hybrid Betting uses is dynamic and fluctuates “based off of the bet liquidity of every shift”. What this basically means is that, if only a few participants are playing a particular shift, the fee will be low when compared to more players are playing on the same shift.
Hybrid Betting Token Details
Native Hybrid tokens will be used as the currency that help execute all transactions within this platform. Its symbol will be denoted by HYB. The presale begins on the 8th of January, and will go on for exactly 30 days after the commencement of the sale. During this period, the price of tokens will be maintained at 2,000 HYB = 1 ETH. Additionally, during the presale, there will be total of 3,000,000.00 HYB that will be made available to the public (6% of the total number).
The general crowdsale will begin on the 10th of January, 2018, and go on till the 10th of March. There will be no minimum purchase amount, but there will be a maximum cap of 200 ETH. During this phase, 51% of all tokens will be made available to the public (25,500,000 HYB).
- First day: 2400 HYB per 1 ETH (bonus 20%)
- First week: 2300 HYB per 1 ETH (bonus 15%)
- Second week: 2200 HYB per 1 ETH (bonus 10%)
- Third week: 2100 HYB per 1 ETH (bonus 5%)
- Final week: 2000 HYB per 1 ETH (bonus 0%)
Lastly, investors from the United States, China and Singapore are not allowed to participate in the crowdsale due to a variety of legal and tax issues.