Insider.pro has come up with a unique study of blockchain startups analyzing the main features of a new project - BetOnChart.
BetOnChart is in the Game
Mixing gambling and crypto together is something that has been attempted before with no substantial success, but the team behind BetOnChart sports betting platform claims that they have a recipe to actually make it work. They claim they can achieve this through implementing various blockchain technologies aimed at creating a legitimate entertainment platform in a form of a dynamic game.
BetOnChart presents a “gamified” approach to in-play sports betting by visualizing football matches as fluctuating charts. Everything that occurs during a match gets processed by a special algorithms and affects the chart’s flow. For example, a forward performs a successful attack and scores – it will drive the chart up or down, depending on the team. The user’s task is to make a prediction of the chart’s location in the next few moments and to place a directional bet. This system heavily borrows from an online finance trading, which is to be expected from a development team that used to create financial solutions, including ones related to betting.
BetOnChart stands out as a completely original concept, that overhauls the existing sports betting system and turns the whole process into a highly dynamic game. Every minute of a football match is full of betting opportunities, but today’s bookmakers are only able to accept bets on the outcome or major events at best. With a live chart it’s possible to bet anytime, as well as to change the strategy on the fly. The platform allows to play alone against the odds calculated by the platform, or compete with users in a multiplayer setting, that is governed by a pool betting system, where the losing bets get split between the winners.
BetOnChart is going to employ the plasma technology and its own child-chain to provide transparency to all of the transactions on the platform. This will eliminate the key issues of today’s gambling industry, where every aspect leaves the users clueless about the working principles of regular betting platforms. Besides that, the raiden technology will ensure reduced transaction processing time.
BetOnChart Token and Public Sale
BetOnChart issues its own token called Chart, that will perform a role of an in-game currency. Users will be free to exchange Charts for fiat currency or vice versa via the built-in exchange service or through any of the 3rd party exchanges Chart will be listed on. As there are singleplayer and multiplayer modes in the game, Chart will prove to be invaluable during sessions between users from different regions. The token will also be used to provide bonuses and milestone rewards on the BetOnChart platform.
Total one-time minting of the Chart token is 50 000 000, and in order to maintain its price, some quantities will be bought back from holders to be eventually burned.
The 2-stage ICO for BetOnChart has already started in May 2018 with a presale, that is going to end by September 1, 2018. That’s when the crowdsale will kick off and continue till October 1, 2018.
Click here to visit BetOnChart pages in the list of upcoming ICOs.