BX is Betting on Decentralized Gaming
BX, a company that has been working with decentralized money and ledgers, has set its sight on the decentralization of gambling and predictions by getting rid of the middleman, which in this case, is the bookie. If BX is successful, it may revolutionize the gaming industry as a whole.
Betting on BX
BX has done its homework. The company has noted that, since 2009, when online betting sites first began to appear, the appeal for online sports betting has doubled and is currently thought to bring in around $60 billion worldwide. However, BX has noted that while the industry has grown, the trend toward explosive growth has declined. BX stated that is because the online sites are not transparent, and profit margins favor the bookmaker. In addition, many countries have instituted strict regulations, which have acted as a brake to the growth of the system. Online games themselves are centralized and have the ability to control the odds, player funding, and outcomes of online games, so that means gamers have little or no reason to trust the online gaming platforms.
The Blockchain Difference
BX is hoping to break the backs of the traditional gaming systems through the use of blockchain technology. The blockchain is a ledger system that is completely transparent and, with respect to online gaming, would allow clients to control their funds and betting transactions without going through a bookie. BX believes if bookies have no role in online gaming, the players will maintain control over their money, and the gaming sites will be more player-friendly.
In addition, the company does not believe the government should have control over businesses either, and control and regulation over the gaming economy should be regulated by the gamers themselves. BX is touting its service and says that its users can make their own betting markets, place and offer bets within their markets, and decide their own odds – all of which is currently done by bookies. Gamers would even be able to determine outcomes and future market directions.
A New Token
BX has discussed that all the gaming transactions taking place on its platform will take place using its own tokens, which will act as a form of betting chips. However, because the players will control the bookie aspect or the house, chips are transferable to anyone else on the platform, which the company hopes will enable a unique betting space.
BX plans to enter the sports and eSports betting markets. But, it eventually hopes to enter the financial markets as a way to bet on the outcome of the stock markets. The company believes that all betting –whether in gaming or the stock market – is still betting and predicting and, therefore, it can be controlled by the gamers. The tokens that will be used are going to be sold at both a presale and a main sale, with the business hoping the initial offering will give the company operating capital.
BX has had much experience with regard to the operation of online betting programs. It has been in control of Betsson, esportsbetting.com, and Mobilebet. Because the company has vast experience in online gaming, it is hoped the addition of the blockchain movement will allow the company to maximize its profitability through online gaming channels and blockchain technology. Perhaps the greatest obstacle to the business is the problem within the United States that allows gaming to be regulated by the states. However, the company hopes to leap over the state’s borders by creating a token that can be exchanged for cash in any state.
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As an avid video poker player and lover of real money online blackjack, Thomas is the founder and guiding voice behind the Top Casino Picks community. A project manager at a London based Fortune 500 tech company, Thomas is an online casino enthusiast who founded TCP as a hobby to help other players avoid the headaches and hassles he has encountered when trying to find the best real money online casinos.
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