Why BETR is different
Peer-to-peer Betting with no central party
By providing a robust escrow and settlement service between 2 parties who do not know one another and have no common operator the system provides access to betting opportunities that did not previously exist.
Applicability to other activities
A transaction does not have to comprise a bet – the same system can be used for any activity where funds are escrowed prior to a result and then settled to the winner (e.g. A game of poker) although BetterBetting will initially focus on betting.
Provably fair and unbreakable
The software and transactions are provably fair and robust. Punters need to know that they will be paid their winnings – no questions asked!
Instant access to winnings
Winnings are distributed as soon as a bet is resulted and available in instant crypto funds for use as the owner sees fit.
Access to betting in more jurisdictions
Most jurisdictions that prohibit sportsbooks focus on the operator as the entity to be licensed. Individuals wishing to bet do not break the law provided they do not bet with an unlicensed operator. With this system the bet is always with another individual – there is no operator.
Access to large wholesale bets
There is a massive market for betting where the amounts exceed those that individual operators are prepared to risk. This system will provide the liquidity to enable these bets to be placed – there are no system limits. Bets are pooled so many parties can match a single bet.
Ease of funding for betting
No more credit info-cards, wire transfers and other outdated payment mechanisms. BETR (Betting tokens) will trade on major crypto exchanges and can always be bought and sold against tokens such as Ethereum.
No requirement for a regulated entity
As there is no central intermediary there is no licensable entity (such as a bookmaker or exchange). This does not mean that bookmakers and exchanges cannot participate in the action but they would simply be another entity on the system.
The BETR Guides
The complex world of cryptocurrency and blockchain can be daunting at times and BetterBetting wants to help the community stay as informed as possible and in support of this have created some basic guides on the industry. Please feel free to contact us if you have any further questions.