BetterBetting releases blockchain-based betting app
BetterBetting, a Blockchain-based, decentralised peer-to-peer sports betting system, has announced the soft launch of its World Cup 2018 betting app. This unique system, released in time for the World Cup on 14th June, provides a mechanism for two parties to bet with one another on the blockchain with secure contracts.
Ethereum contracts are key to the system as they escrow funds from both parties and hold them until settlement. All bets are placed and settled using the BETR token, released in an initial token offering and currently trading and available for purchase on major exchanges such as HitBTC, Bancor, IDEX, Etherdelta, Bisq and Waves.
The CEO, Adriaan Brink, commented: “The World Cup is a great event to test our first release. We have had a very positive response and look forward to increased usage over the coming weeks. The team has worked incredibly hard to produce this technology in the time scale we set post our successful ICO. Further releases will feature improved user interfaces, functionality and user experience. They will include main football leagues in time for the 2018/19 season, including the English Premier League, Spanish Primera Liga and the German Bundesliga. We intend to add sports in accordance with user feedback and demand so there may well be additional sports even before the European football season starts.”
BetterBetting have deployed several products to facilitate this Blockchain betting: The first instance of a BetterBetting Node (BBN) which manages the dissemination of odds and provides APIs to power independent user apps, a BETR Wallet to make it easy to store and use BETR tokens and an Android App that uses the BBN APIs and exposes an easy-to-use odds selection interface.
"This is the first release and was produced in record time after the ICO. It is only the start and there are many iterations and improvements to come as the product is expanded and becomes more mainstream in functionality. We have a great team behind us and we are confident the success of this project will continue,” Brink continued.
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