How blockchain technology could revolutionize the betting industry
Humanity has been gambling and placing bets against one another for thousands of years. When gambling was first introduced into people’s lives, they didn’t have anywhere near the equipment which is used today, and especially not the technology the betting industry uses today. Because even though traditional gambling still is very popular, the online casinos and betting platforms are where the real growth is at the moment. However, many people are still hesitant on using online casinos because they are afraid they are being cheated, which is understandable, as people can’t see the code that controls the output of bets. But that all changes with the implementation of blockchain technology and smart contracts. This is exactly what PokerSports aims to do, revolutionize the betting industry through the use of blockchain technology and digital tokens. Besides from a transparency and security benefits, PokerSports found that they could lower rake to only 4% compared to the industry standard of 10%, a huge improvement which is sure to be felt by recreational players. This is because of the significantly lower fees associated with using their own ERC20 token, XPST, to facilitate payments.
Gaming and Gambling combined
PokerSports believes that betting games should be played more like the exciting eSports games that millions play every day, but at the same time keep the thrill of placing bets and social interaction. One of the downsides of the current fantasy games is that they either aren’t so challenging and most reliant on luck or lack a great social aspect. The games that will be available on the PokerSports games platform, will also have both of these aspects brought together in order to create the best experience for its users. PokerSports has already created one of their games called FantasyStud. PokerSports identified the issues they thought regular fantasy betting had and made a better-revamped version. You can learn more about FantasyStud in the video below
To fund their project, PokerSports is raising funds through an initial coin offering (ICO), selling their ERC20 token XPST. XPST tokens are essential in the PokerSports ecosystem as they are used to facilitate payments, deposits, and rewards.
The token sale started the 24h of March
The token sale ends the 21st of April
10,000 XPST = 1 ETH
Bonuses apply to different phases, the current bonus is 50%
- Total amount of tokens minted is 500,000,000 XPST
- A maximum of 250,000,000 XPST will be for sale during the ICO
- Hard cap is 20,000 ETH
- Soft cap is 600 ETH
To learn more about them and their advisors, visit the official website at: https://www.pokersports.io/ or read their whitepaper here: https://www.pokersports.io/whitepaper/pokersports-whitepaper.pdf
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
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