Welcome to Ayomikun Abraham’s Blog BetU review. A new crypto sports betting website that has a utility token. The new era of sports betting is now on the shoulders of Crypto Sports Betting and is no longer in the traditional sports betting of the old.
BetU will be a peer-to-peer sport, esports, and crypto betting platform. Secured by smart contracts and powered by the BETU Token.
Sports betting involves the activity of placing bets on the outcome of sporting results. The most popular sports by betting volume are European football/soccer, tennis, American football, horse racing, basketball, golf, and boxing/MMA.
Sports betting is the most popular online gambling activity in Europe accounting for 41% of gaming revenue, casino amounts for 34%, and lottery 15%
In 2020, Europe accounted for 45.9% of the total online sports betting market, North America 25.5%, and Asia 20.5%.
In this BetU review content, we will be explaining about BetU. So sit back, get your popcorn and juicy juice as we get started.
What is BetU
BetU is an online marketplace for peer-to-peer sports, esports, and crypto bettings. BetU aims to become a leader in the global markets worth $391 Billion USD. With the goal of taking significant market share from global bookmakers such as:
- Willam Hills,
- DraftKings, and
The BETU Token
The BETU token powers the entire ecosystem and is the sole form of currency in the BetU marketplace.
The BETU utility token will be the only form of currency to be used within the platform. Like casino chips must be used to play tables at a casino, fiat and other cryptocurrencies will need to be converted to BETU tokens in order to place bets on the platform.
The BETU token will be used for the following:
- Betting Rewards
- Honesty Reserves
- Whale holders benefits and
- Governance of the BetU platform
BETU Token ICO/Presale
- BetU aims to raise $5,375,000 via an initial coin offering
- 2.5% of the BetU token will be sold during the presale
- 25% of the BetU token supply will be avalaible in the public sale starting 16th August 2021.
BetU has been listed on pancakeswap.finance at the completion of the ICO. A top 10 exchange listing is planned for September 2021.
How Does BetU Marketplace Works
BetU will be a marketplace of bets. Where it will link Bet Makers, and Bet Takers. Users will be able to search for specific bets via sports, league, players, bet types, odds, etc.
Bet Maker: The person offering the bet
The Bet maker will act as a bookmaker and determines the criteria of the bet, including the: bet type, the amount available to be bet, and the specific odds.
- Event: English Premier League – Manchester United vs Liverpool – Saturday, October 23, 2021
- Type of Bet: Money Line
- Bets: Manchester United to Win
- Odds: 1.5 (Equal to -200 or 1/2)
- Total Bet Amount: 100 BETU Tokens
When a Bet Maker places a bet, the total potential payout of the BETU token is locked. A Bet Maker can cancel a bet at anytime prior to the Bet Taker accepting a Bet.
When a Bet is canceled the BETU tokens are unlocked.
- Bet Takers: The person accepting a bet
A Bet Taker can choose to accept a specific bet made by a Bet Maker. A Bet Taker can accept the entire bet amount or only a part of the bet to suit preference.
If a Bet Taker only accepts part of the amount, the Bet Maker can leave the balance on the BetU marketplace for other Bet Takers to accept or they can cancel the remaining amount.
Sports betting is a rapidly growing industry monopolized by global bookmakers earning billions of dollars in revenue every year.
What are your thoughts to this BetU review? Drop them in the comment section.