Imperium, or the Imperium Network, is a betting platform that describes itself as “the future of betting”. Find out what that means today in our review.
What Is Imperium?
Imperium, found online at Imperium.network, is a sports betting platform built on the Ethereum blockchain. The company claims to be “the only sports betting platform in the world that takes zero fees from its users.”
There are no fees, no limits, and no risk, according to the official website.
Imperium has a simple but ambitious goal: they hope to put an end to illegal sports betting by giving gamblers a platform where they can gamble on all types of events:
“We are here to solve the main problems harming sports betting today, in hopes that we can put an end to the driving forces that are sending bettors to the corrupt, dangerous world of underground betting.”
And yes, the company really does plan to have no fees. Instead, they hope to make money by attracting as many users as possible to the platform, which raises the value of the MPRM cryptocurrency.
With that in mind, let’s take a closer look at how Imperium works.
How Does Imperium Work?
Imperium aims to provide better security to gamblers by decentralizing transactions through the Ethereum blockchain. The platform is designed to be decentralized and self-regulating. Both of those qualities allow Imperium to deliver a secure, private and safe sports betting experience.
The Imperium ecosystem revolves around the use of MPRM coins. Gamblers use coins to place wagers on anything offered through the platform.
How can Imperium afford to charge no fees? The developers claim to have eliminated fees using their blockchain technology. Regular sports betting platforms charge a fee when bettors place a bet. Imperium takes a different approach by charging no fees. Instead, the company claims that its revenue will come from natural price appreciation inherent in their MPRM coin supply.
One of the key ways in which Imperium works is through the use of IBM Watson. A growing number of companies are using IBM’s Watson to interpret the “real language” used by humans. Imperium will use Watson to scan social media networks for sports scores, events, television networks, and more. Any bet, score, or outcome will be confirmed by Watson, then imported into the Imperium platform.
Here are some of the key features as mentioned in the Imperium whitepaper:
Imperium aims to entirely eliminate security risk by decentralizing transactions on the Ethereum blockchain, which increases security in multiple ways. For example, all bets made using MPRM tokens are stored in escrow smart contracts. This eliminates counter-party risk and allows for fast, automatic payments to winning bettors. The deposit and withdrawal of funds is also completely automated with no human intervention required.
Imperium decentralizes the world of gambling, which means there aren’t really any overhead costs. It’s a self-regulating, autonomous organization – which is part of the reason why blockchain technology is so attractive to modern corporations. Imperium takes advantage of this technology to avoid charging fees. They believe removing fees will attract more gamblers to the platform, including gamblers who wish to place larger bets. This will lead to a natural uptick in value of MPRM coins.
Automated Queue Model
Traditional bookmakers deal with liability every day. The goal is to make the books balance, but bookmakers often end up with liability on one side. That liability comes out of the bookmaker’s wallet. Imperium has a different system where every bettor is placed in a queue. The first bettors on either side are at the front of the queue. Whoever does not have a matched bet will be lined up in an orderly queue. They get matched as more bettors join the other side. If either side does not have their bet matched, then they’ll receive their full MPRM bet back, free of charge. This ensures there’s no liability.
Imperium uses IBM’s Watson AI to scrape through social media, sports websites, and sports television networks nonstop until it arrives at a real world outcome. Any bet, score, or fight will be immediately imported into Imperium as soon as it is confirmed by Watson.
Support For Multiple Leagues And Sports
Imperium’s whitepaper has already announced the supported leagues at the time of launch. At launch, Imperium hopes to support the NFL, NBA, MLB, NHL, UFC, EPL, La Liga, MLS, Formula 1, Champions League, Bundesliga, NCAA Basketball, college football, NASCAR, PGA golf, tennis, and more.
The Imperium ICO
The MPRM ICO is scheduled for August 20 at 18:00 UTC to August 27 at 18:00 UTC. There will be a price of 1 ETH = 2,000 MPRM and 1 BTC = 25,000 MPRM.
You can learn more about the Imperium ICO, including all associated addresses, by visiting their official ICO page.
The company aims to launch their MPRM coin exchange in Q4 2017, which is also when they plan to launch the beta.
Imperium aims to solve some of the biggest problems in the world of sports betting. Namely, the vast majority of international sports betting is illegal. Aside from certain jurisdictions, sports betting is banned throughout much of the world. This forces bettors to engage in dangerous underground sports betting activities.
Imperium has a better solution: a decentralized platform where bettors can bet on dozens of different sports and leagues in a trustless environment with no fees.
Imperium hopes to attract bettors with its total lack of fees. The company will not charge any fees; instead, they hope to attract more users to the platform, which grows the value of their MPRM currency and leads to greater success in the long run.
The Imperium ICO is taking place at the end of August. Learn more by visiting Imperium.network.