Traditionally, the phrase “tossing a coin” has been used to describe a situation where there is no clear-cut best choice and whatever decision is made will have unsatisfactory results. In gambling, this could mean that a long-shot bet will pay off unexpectedly high, or that a pre-play gamble will lose most of the money wagered. However, with the development of blockchain technology and its implementation into sportsbooks and online casinos, this phrase has taken on a whole new meaning.
Understanding Blockchain In Sports
Sports are one of the first industries to implement the blockchain technology, mainly thanks to the pioneering work of entrepreneurs such as Bob Perry and Rick Hoyt. These men saw the potential of the technology in the world of sports and decided to give it a try. They founded the venture capital company Unikrn, which invested heavily in early-stage companies operating in the space. One of these companies was Status Inc., creators of the Bitshares Decentralized Exchange (DEX). The DEX is a decentralized cryptocurrency exchange that operates directly on the blockchain. This provides users with a secure and anonymous way to buy and sell Bitcoin and other cryptocurrencies.
One of the distinguishing factors of the Bitshares platform is that it uses a token to represent value. The token, called “BTS”, is based on the principle of «community coins». This means that everyone in the network owns the same amount of BTS and its value is determined by the network. In effect, this makes the currency more stable and predictable. The downside is that the token acquisition becomes more complicated as there is no fixed price for the coins. One Bitcoin is worth around $13,000 at the time of this writing, which makes the acquisition of one BTS significantly more expensive. Nevertheless, the founders of Bitshares believe that this added layer of security and transparency makes the overall product more interesting and appealing to potential customers.
Looking At The Future Of Casinos
The blockchain-based sportsbook and casino Unikrn aims to redefine sports betting and change the game completely. One of the distinguishing factors of the Unikrn platform is that it uses an advanced AI-based algorithm to generate lines and take bets. Using cutting edge AI means that the outcome of each game is determined by an algorithm rather than by human intervention, which increases the overall accuracy of the results. Another distinguishing factor is that the platform aims to eliminate unnecessary middlemen by directly connecting bettors with bookmakers. This should lead to significant savings for users. These products are still in their early stages of development, but the early signs are very promising. The Unikrn platform accepts Bitcoin and other cryptocurrencies as well as traditional cash bets.
The blockchain-based sportsbook and casino Unikrn aims to redefine sports betting and change the game completely. One of the distinguishing factors of the Unikrn platform is that it uses an advanced AI-based algorithm to generate lines and take bets. Using cutting edge AI means that the outcome of each game is determined by an algorithm rather than by human intervention, which increases the overall accuracy of the results. Another distinguishing factor is that the platform aims to eliminate unnecessary middlemen by directly connecting bettors with bookmakers. This should lead to significant savings for users. These products are still in their early stages of development, but the early signs are very promising. The Unikrn platform accepts Bitcoin and other cryptocurrencies as well as traditional cash bets.
This is just a small fraction of the technologies that are changing the game of sports. The future of sports is undoubtedly exciting as new businesses and products emerge to disrupt the industry. Innovators and entrepreneurs alike should try their best to find the next big thing in sports.