The global online gambling market has experienced rapid growth in last years and is continuing to expand. Last year, the regulated gambling industry reached $533 billion, while the betting market accounted for $70 billion in gross yield. And this is only the regulated sector.
Despite its continuous growth, the market still has a number of important disadvantages. Most of existing betting services work only in limited countries, don’t accept digital currencies and charge unreasonably high commission. After conducting research of the gambling markets and bookmakers’ business models, the Betrium team decided to develop its own betting service that would differ from existing solutions.
Maxym Suvorov – the founder and CEO at . Since 2014, he has been the CEO of “Concord Standards and Management”, the company offering consultancy in the management standards and preparation for tenders, and is currently a partner of “Lumiere UA” IT outsourcing firm. His main competence is the development and implementation of international management systems in large corporate structures (ISO, OHSAS, PCI DSS) and business IT automation. Suvorov is a holder of US technological patent and has successfully launched few businesses in the b2b sector and also worked as an iOS software engineer in the past.
Coinspeaker: “Hi, Maxym! You’re CEO one of the most perspective gambling companies today. Tell us the main idea of Betrium and what problem do you solve?”
Maxym Suvorov: “Hello! Thank you for the question. Yes, Betrium is the company which solves the most painful problems of the gambling industry and helps people to earn money.
Betrium is the global sports betting platform, bookmaker and betting exchange, which allows people to bet on sports using cryptocurrencies and tokens, offering lowest commissions, platforms for developers and event organizers, volatility stabilization system and franchising, operating in the industry worth $1 trillion annually. We are aiming to build the global network of sports and markets from all around the world in one place. The future profit will be distributed to the token holders.”
Coinspeaker: “Thank you! Can you explain what makes Betrium better than other platforms?”
Maxym Suvorov: “Betrium is the first one to offer something like hedging, we pathetically call it «volatility stabilization». Professional sports betting is impossible with current volatility of cryptocurrencies, even 5% price change may lead to losses. Particularly for the pre-match betting (before the event starts). We give an option to convert BTC/ ETH to virtual USD balance upon depositing.”
Coinspeaker: “Understand. So we hear every day how volatile the crypto market is. How does Betrium account for the often significant volatility inherent in the cryptocurrencies you accept?”
Maxym Suvorov: “To be honest the volatility is the huge problem from all sides, for token price during ICO, for our business development and for trading. As said, the volatility is the key problem of betting in crypto. When Betrium started and was in the state of concept, we received a lot of questions and proposals regarding unstable BTC rate. That inspired us to think about hedging.”
Coinspeaker: “What about developers and event organizers? Does Betrium offer something for them too?”
Maxym Suvorov: “Initially, the idea of Betrium came about due to the lack of normal and open API. We have already released the documented alpha of API for developers and 3rd parties. As mentioned on the website, Betrium aims to become the «world’s betting processing center». There are a lot of local gambling businesses, who want to run their own betting websites or applications on their local markets, they just need the modern and simple platform.
For event organizers, I think we were almost first ones to offer the concept of the platform for organizers to create and manage custom events and earn from betting, along with special internal promotion tools, which will work like «boosted» posts in our social networks.
However, personally I bet more on our franchise solution. Betrium is located in Europe, our team of analysts and traders are mostly focused on soccer, tennis and basketball. We canʼt know what happens on different local Asian markets and we donʼt know exactly how to promote Betrium there. So we offer franchising, people from all around the world will be able to develop Betriumʼs business on their local markets, moderate all the content, manage all the local events and get the major part of profit. We provide technical infrastructure and some more stuff and will require partners to have experienced local team of analysts, managers and marketing. We already have a lot of entrepreneurs from India interested in partnership with us, they are so crazy with cricket!”
Coinspeaker: “When does the main ICO start and what should our readers know about it?”
Maxym Suvorov: “The ICO starts on 5th of April with a 20% one-day bonus. It finishes on 14th of May. Every investor has a great opportunity to invest in really cool gambling project. To invest into Betrium, you need a wallet, which supports ERC20 tokens, such as MyEtherWallet, Mist, Ethereum Wallet, imToken, or Metamask. The minimum investment is 0.3 ETH.”
With Betrium, users all over the world will be able to use cryptocurrency to place bets at the lowest commission possible. In the future, Betrium aims to become the world’s largest and most advanced blockchain-based betting platform that solves the main issues of today’s industry.
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Ethereum’s Github has recently seen several significant proposals made for development. On April 1st, Ethereum co-founder, Vitalik Buterin, proposed the introduction of a hard fork on the supply of ETH tokens at approximately 120 million. Several days prior, developer Piper Merriam advocated that Ethereum conduct a hard fork in order to “demonstrate a willingness” to resist “ASIC-based Ethereum mining.”
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Vitalik Buterin Proposes Hard Cap on ETH Supply
Ethereum’s co-founder has an Ethereum Improvement Proposal (EIP) suggesting the introduction of a hard cap on the total supply of ETH at 120,204,432 – “exactly [twice] the amount of ETH sold in the original sale.”
Vitalik states that the proposal has been made “in light of the fact that issuing new coins to proof of work miners is no longer an effective way of promoting an egalitarian coin distribution or any other significant policy goal.” Mr. Buterin also argues that a hard cap on supply will “ensure the economic sustainability of the platform under the widest possible variety of circumstances.”
In order to implement the proposal, Vitalik states that “During the next hard fork that alters reward distributions (likely phase 1 Casper), this proposal requires redenominating all in-protocol rewards.”
Vitalik adds that “If for some reason this EIP is adopted at a point where it is too late to set a max cap at 120 million, it is also possible to set a higher max cap. I would recommend 144,052,828 ETH, or exactly 2x the total amount released in the genesis block including both the sale and premines.”
Developer Proposes Hard Fork to Deter ASIC ETH Mining
Several days ago, Ethereum Developer, Piper Merriam, posted an suggesting that the ETH community contemplate a hard fork that would “Modify block mining to be ASIC resistant.”
Mr. Merriam states that “According to ‘the internet[,] there is an ASIC[-]based Ethereum miner on the horizon,” citing a article as potentially comprising the original source of the rumor. Mr. Merriam also notes a thread hosting speculation that Bitmain may already be mining ETH using ASICs.
The EIP concludes by asking the two questions – “Should [Ethereum] hard fork to make ASIC mining harder and to demonstrate a willingness to hard fork any future ASIC[-]based Ethereum mining,” and “What […] changes [should Ethereum] make to implement this increased ASIC resistance.”
Do you support the EIP’s brought forward by Vitalik Buterin and Piper Merriam? Share your thoughts in the comments section below!
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