Introduction to the Betbox ICO
Most of us have had to bet at one time in our lives. BetBox promises to make every betting experience a wonderful experience. BetBox is a DApp (Decentralized Application) that provides users with a collective, intelligent way to bet on sports by providing a more precise evaluation of the outcome probability.
The BetBox app connects people through individual betting in public as well as privately. On top of betting on sports, BetBox will allow users to place their bets for global events in politics and other real-life events. The creators also promise to continually provide additional tools and features to entertain users while providing a sustainable betting infrastructure through the OX token.
Brief Overview of BetBox
BetBox was developed in Zurich, Switzerland by a bunch of crypto-enthusiasts who needed a trusted platform to manage simple everyday bets in a relaxed, affordable, decentralized manner. Today, the founders of the platform claim that BetBox’s model is designed to let users bet on everything, everywhere, every time.
BetBox is built for everyone. There’s a vast range of unique, unprecedented betting experiences for users which include:
- Individual Bets
BetBox offers a secure place where anyone can create personal bets for oneself and/or friends. The stakes that you create can be public or private, which allows any user to become a bet king through BetBox. Currently, bets can only be placed using cryptocurrency, but in future, fiat bets will also be available.
- Personal Challenges
Through BetBox, users can create crazy personal challenges and share them with the rest of the BetBox community. Anyone who sets up and shares a personal challenge stands to get as much as 10% of the total pot if they complete their challenges. There aren’t restrictions as to what personal challenge you can and cannot create. Anyone can bet for or against you as you undertake your challenge.
- Live Activity Feed
BetBox offers its users the freedom to choose what activity they wish to see; anyone can customize his/her feed based on personal preferences. This lets you monitor bet activity closely so that you can see when bets go crazy as well as the climax of your friends’ personal challenges among many other things.
- Wallet Security
The security of the BetBox wallet is so efficient that users with little or no technical expertise can efficiently manage and secure their digital assets.
- Trusted Bookmaker
By using smart contracts, BetBox effectively eliminates the need for a centralized party to process bets. This guarantees an honest and fair distribution of earnings. Verity is a decentralized oracle that is used by BetBox to secure its voting mechanism while simultaneously empowering the people who use it.
- Earn Money with BetBox
The BetBox ecosystem creates several ways through which users make money. You can earn by winning in a game of chance or lottery and by taking part in voting on BetBox. Developers that contribute useful resources on the platform also get paid.
Benefits of Betting Through BetBox
- All information and transactions on the platform are absolutely secure
- Digital assets are protected, and their storage on BetBox is both professional and secure
- The determination of winners on BetBox is fair and completely transparent
- The payout process is legit and flawless.
How Is BetBox From Common Betting Apps
BetBox isn’t the only betting app available to users. Nevertheless, most of the other apps preach an almost-similar gospel. BetBox is distinguishable from most of these applications by the following features.
The BetBox project was created to break down the various barriers that hinder maximal acquisition of and benefit from crypto-assets. The founders believed that neither tribe, gender or religion should bar someone from acquiring crypto-assets. BetBox makes this possible by allowing users to buy OX tokens using fiat currency. With time, it’s expected that the BetBox project will make crypto available to all via mobile and web applications.
- Speed and Reliability
A major concern with most of the other betting DApps is that they are not only slow, but they’re also nonreliable and inefficient in various ways. BetBox is fully automated and uses smart contracts to ensure prompt, fair and efficient processing and release of funds. This rapid and practical application of blockchain technology is appealing to many crypto lovers, traditional bookmakers, and other everyday users.
- A Whole New Way of Betting
BetBox presents users with an entirely new way of betting that takes care of most of the drawbacks that people experience when using popular betting apps. The use of smart contracts is particularly effective at eliminating human interference and errors that tend to compromise the integrity of any betting experience. Data sharing and transfer on BetBox is secure, transparent and immutable.
- Enhanced Security
Hacking, phishing and other forms of cyber-crime are commonplace in the crypto space. BetBox has taken explicit steps to secure its application. The framework is airtight and safe from hacks. Crypto traders and investors are also cushioned from fraud and crypto losses. BetBox will be responsible for token loss due to cyber-attacks and crypto fraud.
BetBox has taken steps to overcome many restrictions in different geographical zones. While English is the primary language on the app, BetBox will be transformed into a multilingual application available in many different native languages. The app’s compliance department has also been in talks with the regulatory authorities in countries such as Malta, Gibraltar, Germany, and Denmark. The talks are oriented towards achieving the best solutions that comply with national token and blockchain app requirements.
Most traditional betting platforms operate in a way that lacks scalability. BetBox overcomes this by targeting a wide global audience. It includes features for diverse gambling and betting experiences that are appealing to all age brackets, genders and personalities.
BetBox’s Optimal Betting Strategy
BetBox’s strategy exploits the doubling rate equation to even the odds for gamblers.
Figure 1: the doubling rate equation used in gambling
The doubling equation shows that there’s a difference in knowledge between the bookmaker and gambler. The best betting odds are optimal when the doubling rate is highest. This happens when the gambler outperforms the bookmaker’s knowledge level. BetBox is thus designed to help the gambler exploit the knowledge of the bookmaker thereby improving his/her chance of winning big.
BetBox is a meta-predictor that exploits the predictive capacity of bookmakers and plays against the weakest estimator. It’s built upon various machine learning methods that are trained over past bookmaker odds and their resultant outcomes. This enhances the applications predictive power against most online bookmakers.
The native token for BetBox is OX token, an ERC20 token that allows the minting of new tokens from specific BetBox betting contracts. The initial release will comprise 100 million OX tokens. After that, one token will be generated for every bet revealed on the BetBox ecosystem. The generated token will then be distributed randomly to one of the people who took part in the bet.
Inflation is prevented on the BetBox ecosystem by adopting a proof-of-activity token mining approach where tokens are generated only when people actually use the ecosystem. As the profit increases with time, BetBox will begin to buyback and burn OX tokens. In this way, the ecosystem will ensure continuous appreciation in value for the OX token.
Token Sale Date:
Pre-ICO Starts: 20th October 2018. Ends: 30th November 2018.
ICO Starts: 26th December 2018. Ends: 9th January 2018.
Buy With: ETH
Price: 1 OX= 0.0004 ETH
Hard Cap: 32,000 ETH
Soft Cap: 4,000 ETH
Restricted in: Bosnia and Herzegovina, Ethiopia, Syria, USA, China, Korea, Yemen, Cuba, Iraq, Iran, Vanuatu, Sri Lanka