Blockchain Will Redefine How We Bet on Sports
Sports are a passion adored universally. Whether your interests lie in watching or playing, almost everyone finds a sport they’ve taken a liking to. Whether you prefer to partake in soccer or Rocket League, sports represents a prime source of entertainment that unites us as people and engages groups from all over in friendly competition.
And like other pastimes, many similarly find enjoyment in placing wagers while they root for their favorite teams and players. A good bet can heighten the excitement associated with a match and give participants even more incentive to jump up and shout in support of their players.
But let’s face it: sports betting isn’t want it should be, and it isn’t what it could be. Betting online is often associated with jumping through a series of hoops, and can sometimes end up with money deposited to a site that doesn’t have the means or desire to honor its payouts. Even if you end up on an otherwise legitimate site, you are boxed into just a specific set of bets to participate in, and you’re always at a loss versus the rake the site keeps on every betting pair.
Of course, you can go about it the old fashioned way and bet casually with your friends. That can cause issues too- if you like to root for the hometown, chances are none of your pals are willing to take the other half of your bet. Similarly to shady sites, you could end up winning against a friend that seems to “forget” to pay you every time you see them.
Enter Blockchain
Fortunately, smart contracts powered by blockchain technology can completely redesign the manner through which sports betting takes place. Rather than relying on a middleman, bettors can interact directly with one another trustlessly through the help of these contracts. This system for betting remains entirely transparent and there is no possibility of cheating or other fraudulent behavior.
ZenSports is applying these contracts to their mobile betting applications. Built upon the ICON blockchain, this project will offer a massively scalable ecosystem where users can place and take any kind of bet, on any sport imaginable, anywhere in the world. Activity on the platform will be done via its own SPORT token. Rather than betting fees being collected by a middleman, these fees will be redistributed directly to SPORT holders.
The public token sale begins on December 1st, and will run until January 5th of next year. The sale is divided into four lots of SPORT with increasing prices. Initially, SPORT will be sold in the public sale at a rate of US$0.0024 worth of ICX. By the end of the sale, that number will have increased significantly to $0.006.
Smart contract functionalities for the project are slated for release in Quarter 1 of next year. As such, ZenSports represents a pioneer in the application of smart contracts to sports betting. To stay up to date on the development and token sale, check out the project’s Telegram and follow them on Twitter!
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.
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by Guest via NullTX
