This is a pool where you pay per roll and funds are locked but you get your principal back. The longer you stay in the pool the more spins you get. Funds will be returned every week so you can either reroll or you can pull out your principal. Winners take the interest gained from the slot money that is locked in staking contracts until the funds are requested to be released.
Tokenization of sports betting decentralizes the sector, brings transparency, enhances liquidity, and increases efficiency. Multiple goals can be achieved by tokenizing betting, such as player tokenization that enables you to invest in a player’s contract or even tokenizing a team so that people could invest in it and drive more capital to the team.
Tokenizing bets will have to be built out. We are sure in the long term we will be able to do a number of things that were not possible before blockchain. The tokenization of sports betting creates opportunities like no-loss betting where interest gained from money locked in bets would fund the rewards of the winning bets. Below you can see our rough model of how this would work:
No-loss betting not only creates value but also potentially helps people who have a betting addiction. This is an alternative for people to safely bet and still have fun with their money.
This will be the biggest project for Bond.Bet. We have to integrate with around 26 of the leading sportsbooks which is the hardest part. There is no clear timeline on this yet, but as soon as we have news — we’ll share them.
Bet on the actual movement of the betting line and whether you think that odds will rise or fall in the future. Do you ever think Vegas has it wrong? It would be nice to bet on those adjustments between the weeks. Say hypothetically you take a $100 Super Bowl bet in March on the Browns (+10000) to win and 6 weeks after the season starts the Browns are now (5–1) on top of the AFC and odds for the browns to win the Superbowl have shifted to (+800). You should be able to sell off this bet for a profit if someone is willing to pay the price for the bet. In some cases, bettors will take a discount to sell off the risk while these bets still look healthy. This also creates secondary trading markets which is our next use case.
We can apply the above-mentioned to assets and even bet on the volatility of an asset or the percent change in price on a specific day. Here we can get extremely creative with what we would want to offer: odds or bet on the upside of the traditional derivatives and futures. The secondary market also allows you to place bets on someone else’s claim. For example, I feel ETH will hit $1000 before March 1, 2021. Once we make this claim, we can have people bet on it and the blockchain will determine if it happens and pay out the bet. You would also be able to bet on the overall price movements of the assets and bet on whether it goes up or down on a specific day.
Bet on Gas price futures and try to predict the markets and if Gas prices will rise or fall in a certain time frame. Tokenization of Ethereum Gas has many use cases and is already being applied by other companies and projects like Gas Token and Ugas. Don’t you hate spending gas? What if Gas was storable and you could save it for later? It can be done with the tokenization of Gas and being able to sell Gas on a secondary market at a discount to the market but still make a profit or save it for later use. This year we experienced rising Gas prices as a huge problem. It would be nice if you could’ve stored GWEI from 2017. This is almost like buying a call for Gas at a later price but you can either use it or sell it. Some people don’t value Gas and just pay the gas but how much has accumulated over the years? Platforms like Fees.wtf (https://fees.wtf/) track this and would allow to hedge Gas fees risk on a yearly or monthly basis.
Swap.Bond.Bet will be a secondary betting marketplace. It enables bettors to sell bet lines to other bettors for a profit. With tokenization of money lines and betting lines, you can sell off future bets at later dates for a profit or loss. This creates an entire secondary market that the blockchain can manage so others can have a safe and secure market for trading bets to each other. Secondary markets allow you to be your own bookie and create easier and safer P2P betting transactions. The potential is limitless and we can create numerous new systems for betting. Secondary betting markets offer their own unique use cases that can take the house at least partially out of the picture.