Betmatch is a decentralized betting house that combines the classical business model of traditional betting cases (but executed in atrustworthyparadigm using blockchain technology) with a social betting network as a second, community layer.
The usage of blockchain infrastructure as a critical component of operations is especially important to customers primarily for funds storage and bet execution. Furthermore, it provides the fundamental opportunity to combine a trustworthy betting service with a social betting network. These two business models perfectly complement each other, providing additional customer value and enhancing the overall net effect of the system created. Social interactions related to decision making in betting is the most prominent use case in the industry today. Often, social interactions have a poor reputation because of deception from bet decision providers and execution without a clear track record and long-run motivation system. The traditional betting house model, even with blockchain advantages, is weak due to a very competitive market environment and the high cost of user acquisition. Betmatch combines the two business models (betting house and social betting) and aims to build a durable solution for the emerging cryptocurrency-based betting market.
Betmatch’s proposed technical and business solution provides customers with an original service of house trustworthy betting using cryptocurrencies. Deposits, bet execution, and withdrawal processes are executed using blockchain network services (direct crypto payments and smart contracts) and cannot be interfered with by the betting house’s or any third party’s actions. Besides an industry-grade, classical betting service built on top of a blockchain network, Betmatch offers an original social solution for players and the betting-related community. This concept allows each customer or project supporter to construct a personal business with positive cash-flows or receive a share of the betting house’s profit as a reward for social activity and community interaction inside the system.
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