Bettium, an ICO that proposes the creation of a Blockchain platform for Peer-to-peer betting, began its public sale on August 8 and will be open until August 31. The initial price of the BETT token is 5 cents each and can be paid with either ETH or BTC.
The project has created one billion BETT tokens and sold 400 million tokens. The minimum target for this project is 7.5 million dollars and the maximum is 30 million dollars.
It is also important to add that Bettium reached a strategic partnership agreement with Blockchain Global, a risk investment fund specialized in projects related to the cryptomoney market.
What will the Bettium platform do?
Bettium wants to apply Blockchain technology, Artificial Intelligence and Big Data in order to offer users an analytical platform that allows the automatic management of offers according to the data found in the system. Professionals who use sports data will have access to the data and analysis generated by Big Data. While for the gamblers and fans, an Artificial Intelligence assistant nicknamed “Merlin” will be provided to make decisions based on reliable data.
The Blockchain application is being left to the Smart Contracts that will be applied among the participants of the platform, making the bets transparent, reliable and easy to apply. The Intelligent Contracts will serve for everything related to deposits, payments, transactions and risk coverage, thus bringing the clarity that these functions inevitably need in the betting market.
The CEO of this project, Nathan Hunt, explains that the application of Blockchain technology: “It will revolutionize the industry, significantly expanding the user base by introducing new standards of functionality and reliability that will radically change the way people interact with each other”.
The developers say that the services offered by the platform are not currently on the market, which will make this platform unique. On this particular point, the CEO explains that his platform: “will present a cleaner and more responsible alternative to the traditional bookmaker, fundamentally altering the perceptions of sports betting and encouraging greater participation of the community in general: gamblers, players, advertisers and industry professionals”.
The important betting market
Online bets have been growing year after year and so far in 2018 already reached 52 billion dollars, being a market in full growth, also in the ICO as Bethereum. However, it is a market that needs more control and transparency. The main bookmakers are still brokers that are not regulated and do not have a mechanism to set the bets transparently and guaranteed for participants. In addition, the market is deficient in terms of high commissions, deposit risks and the vulnerability of sites to hacker attacks.