400 BILLION DOLLARS. The amount of sports money bet illegally in underground markets every single year. iMPERIUM aims to capture that market, by offering our users a ZERO FEE sports betting platform.
Blockchain technology hasn't only changed the way we view the future of decentralization, the power of the blockchain has created a new way to build a 100% secure monetary platform as well . Transactions can now be carried through without requiring trust in a centralized third party. Each day another industry seems to benefit from the gradual adoption of the Blockchain. Yet, in the sports betting industry, archaic practices still exist. People rely on third parties to host their bets, send their money to insecure platforms, and "trust" that the third party will actually carry through with their payouts. All the while, bettors get nickel-and-dimed through the process as the host or bookmaker charges fees on each bet as well as when depositing or withdrawing funds.
There are 3 solutions we have to change the entirety of the sports betting market.
1) Security - All bets are made using our MPRM tokens which are stored in escrow smart contracts, eliminating counter-party risk and allowing fast, automated payments to winning bettors. Depositing and withdrawing funds are also completely automated using the blockchain. With no human intervention required, there can be no human error, as well as automated event verification using site scraping tools, IBM’s Watson, and sports betting APIs.
2) Zero Fees - Due to the unique nature of this emerging technology, we will be able to eliminate all fees bettors normally pay on other betting platforms. Instead of taxing our customers each time they place a bet, we will instead remove this externality from the system, encouraging them to place larger bets and therefore, increase the winnings for every bettor. This will create a surge in demand and an uptick in value of our MPRM coins. (more can be found in our white paper on this subject).
3) No Betting Limits - One of the most valuable characteristics of our platform is our unlimited betting protocol. Due to a new betting system called an "Automated Queue Model", which allows for no restrictions to how much a user can bet. Which is interesting, because nowadays only in the underground sports-betting world could someone wager $50 million on a sporting event. We plan to take all of that underground betting money and funnel it into the iMPERIUM platform.
Take a look at our site and read our whitepaper. Our team is solid and we have a clear vision in front of us.
http://imperium.network
