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Betmatch Employs Blockchain to Revolutionize Sports Betting

Brian Njuguna   Oct 27, 2019 13:18 2 Min Read


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Sports betting is usually a risky endeavor as you can lose a bet that you rightfully won because of factors, such as the human error that may be intentional or not. This factor makes the $40 billion industry scary to enthusiasts as it is dependent on a few individuals who record the data. If anything goes wrong, it becomes a turmoil claiming one’s legitimate winnings.

Betmatch.io, a famous crypto sports betting platform, has not been oblivious to this reality as it has come up with a blockchain solution to assure bettors that their winnings cannot be manipulated, ripped off, or canceled. 

According to Bitcoin Exchange Guide, Betmatch views blockchain as the perfect technology needed in revolutionizing the sports betting sector based on the distributed ledger network availed. Blockchain will provide every bettor with optimal transparency as he/she can see the entire bet terms.  

Betmatch’s CEO, Ivan Chebotaev, noted:

“The emergence of blockchain betting has been a logical development. However, the main idea was rather the particular technological solution designed to increase transaction speed, since the appearance of blockchain betting was only a matter of time, depending on how long it took to sufficiently develop this technology.”

He also added:

“We decided to start by solving this problem ourselves instead of waiting for a global solution to the blockchain bottleneck problem to appear. This is what we consider to be unique about Betmatch.”

Blockchain will be instrumental in transforming Betmatch as it will prompt significant anonymity. Expressly, this platform will be made to accept bets, whereby KYC or Know Your Customer will not be required. 

 

Image via Shutterstock


 


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