Betrium to Offer Cryptocurrency-based Worldwide Betting Service
In a new application of blockchain technology, the Betrium ICO is looking to the lucrative $533 billion global gaming industry for potentially handsome returns. A group of entrepreneurial developers, all graduates from MIT and MIPT, are now offering the first “worldwide betting service” that is partly decentralized.
Betrium will accept cryptocurrencies while charging zero percent commission. The platform behind the ICO will be offered to “event organizers, developers, and third-party service providers.”
In the sophisticated world of online gaming, the benefits of the blockchain construct can bring enhanced savings and improved UX. Betrium is seeking to improve users’ experience of online gaming, addressing a number of issues. In addition to being one of the few online betting platforms that accepts and issues cryptocurrency, the Betrium build also allows for withdrawals anywhere in the world.
Betrium’s offer does away with high commissions by employing up to a one percent maximum commission fee. The platform is also fast – much faster than the current status quo.
According to the developers, “a solution powered just by Ethereum blockchain simply can’t provide the speed required for professional betting/trading on sports.” The Betrium platform addresses all of these concerns, as well as enhancing security protocols. Moreover, the platform will be open to third-party users who want to host competitions or otherwise utilize the platform’s functionality, as well as developers who can employ Betrium’s open API. The ICO will take place between April 5, 2018 to May 14, 2018, and will accept both bitcoin and ether as payment.
What Issues are Betrium Going to Solve?
In the online gaming industry, huge annual development takes place to optimize the products on offer. That said, the user’s experience doesn’t enjoy the same level of development, something that Betrium has now forever changed.
Issues facing online gaming include limitations on currencies, geographies and especially transaction speeds.
Another aspect of the industry and a source of frequent complaint among punters is the variable and often high commission structures in place. While online gaming sites are typically competitive in commission fees, they are still variable and often a painful slice for winners.
Lose alone, but if you win, we share. This is something addressed by Betrium in their severely capped commission structure.
The Betrium Solution
Using Betrium, users will enjoy an improved experience transacting on the platform, no matter where they are in the world.
In order to ensure airtight protocols, bets are added off-chain and then only submitted once a game is underway, or the outcome is beyond dispute. The bets are, however, “broadcast all over the network instantly for the odds to be recalculated,” the developers state.
“That means, in contrast to competitors, we are able to provide [a] high-speed betting service built on decentralized IT architecture.” The off-chain nature of betting results in faster user speeds. Betrium is also committed to offering odds on every sporting event from around the world, a comprehensive offer that doesn’t curtail gamers’ options.
The shift to a partial decentralization is the key to Betrium’s platform and the resolution of many online gaming issues. Online casinos and gaming portals note significant technical improvement and gamers also typically immediately begin to patronize sleeker sites.
The improvements offered by Betrium are likely to become a new baseline expectation of consumers. Strongly development-focused, the platform as it now presents is a definite step up for the industry. The elegance of the Betrium blockchain applied to online gaming offers a different, better way for users to transact. Faster speeds and a token currency make for a more autonomous and gratifying experience of placing bets, rolling over and withdrawing funds.
Particularly as Betrium’s operating arena is the multi-billion dollar online gaming industry, investors would do well to buy into this ICO as it has the technically sound and also astute backing by a professional team assembled to nail down every aspect of the rollout and, lastly, because the potential returns are likely to be good.
The structure of the offer also allows that 50 percent of Betrium’s profit will be shared among tokens holders. The remaining 50 percent will go toward platform support and further development. In another nod to digital currencies, the profit sharing will be done solely using ETH and be paid to wallet addresses.
ICO Snapshot
- Token Type: Utility/currency,
- Platform: EOS,
- Symbol: BTRM,
- Token Sale (1st Pre): October 23, 2017 – November 22, 2017,
- Token Sale (2nd Pre): January 22, 2018 – February 14, 2018,
- Token Sale: April 5, 2018 – May, 14 2018,
- Token Supply: 140 million,
- Tokens Available for Sale: 63 million,
- Soft Cap: 320 ETH,
- Hard Cap: 2330 ETH,
- Price: 6000 BTRM = 1 ETH.
A total of 140 million tokens will be issued by Betrium. Known as BTRM, tokens can seemingly be bought with any recognized currency and along a number of routes, as the team have disclosed no preferences on the issue.
Funds will be employed to reward token holders, gamers’ wins and further development of the platform. One further accolade for the offer is the attempt to placate potential investors who must be aware of the innumerable scam ICOs doing the rounds. Betrium offers guarantees and also has legal expertise on its team, both designed to reassure investors and ensure a highly legitimized offer.
The Betrium Team
The core Betrium team is made up of Andrey Rybalchenko, Maksym Suvorov, CEO and co-founder of Betrium, Nataliia Khotiaintseva, Alex Bykhun and Arthur But.
Others include Max Kyryliuk, Maksym Burdiuh, Artem Boruta and Oleskandr Vakhul. All have extensive experience in either the gaming or IT industry, with fintech and assorted expertise also among the team.
On the legal and PR side are Alice Babenko and Yulia Azarina with strategist Daria Isaieva.
Advisers include KARTHIK IYER, Tom Budd, Denys Suvorov and professional racer Sam Taheri.
Andrey Rybalchenko particularly has years of experience as a bookmaker and CEO Suvorov, a former iOS engineer, has years of experience in large-scale management systems (ISO, OHSAS, PCI DSS) and business IT automation.
Conclusion
The Betrium platform is an undeniable improvement on the average modern gamer’s experience. Improved transactional ability and the payment of dividends to token holders make the offer very attractive.
Also, the platform’s industry is extremely healthy and growing on an annual basis. In their whitepaper, Betrium are rather modest in approach to both spending and anticipated future earnings. The platform is an extremely well thought out and finely tuned offer from a team with years of experience in the game.
As the speed and cryptocurrency payment options take root in the gaming community, the platform is well poised to become the new industry benchmark.
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