ChainBet

It’s hard to feel safe as a consumer on real-world betting sites. Such sites operate in a black-box fashion, and malicious attempts are common. Add to this the knowledge that betting sites have few incentives to work in your best interest and no wonder it’s hard for consumers to feel comfortable. Achieving our mission will protect consumers from these attacks, providing peace of mind, and allow them to focus on the one thing they came to do - have fun! We will achieve this by giving the features blockchain offers best; security, transparency, and anonymity. Blockchain tools enable the possibility for players to verify on-chain results, participate in betting activity anonymously, and benefit from the security that blockchain technology provides. ChainBet's belief is that players shouldn't have to second guess when betting, they just should enjoy the thrill. By providing a trustworthy and transparent environment we hope to cater to all varieties of gamblers as they now have a home to place bets without the worry of trust issues that plague other betting sites. On a fundamental level, regulatory bodies, consumer protection and gambling laws exist to prevent malicious actors from taking advantage of regular people. Companies can otherwise use their information asymmetry to easily take advantage of consumers (by not making all information public for example). However, when bettors also have the opportunity to be the House, there is actually little need for regulatory bodies.   ChainBet allows for this through a decentralized betting platform and a DAO governing body. By definition, being decentralized means there is no central entity. ChainBet is community-owned and every bit of information regarding ChainBet is open-source, resulting in no asymmetrical flow of information. Odds are known for the products we offer. ChainBet is a radical shift away from the typical “Casino” approach, by allowing true fairness and the investors the chance to become the house. Skin in the game is taken to a new level by aligning public and betting platform incentives - you can now bet and own the betting platform by allowing the Player to become the House, earning and sharing the revenue when the House does! How this is achieved in detail can be reviewed in our Tokenomics section. ChainBet is a betting platform, and not just a casino. ChainBet will not stop at offering well-known classic gambling games - we plan to be the betting platform of choice for all blockchain users by offering the chance to first and foremost bet with any currency and also bet on real-time events. We will focus first on anything games-related to provide the most entertainment and thrill, but won’t hesitate to take over all betting markets. Opportunity is ripe to capture this market. There is a great opportunity to lure big players using traditional betting websites to on-chain betting because the tools (Chainlink VRF) finally exist to make betting on-chain, fair. . The blockchain betting market is fairly new with a lot of room for the industry to grow. ChainBet plans to attack and conquer this market with a focus on the future of Web 3. We will utilize DAO for governance, leverage the utility of NFTs for Player rewards, and develop access to ChainBet across all Metaverse platforms. ChainBet will be the first true, and trustworthy online betting platform. One where there are no barriers and complete transparency between both the Player and the House.