SBC News Voice of the Sports Betting Industry
Blockchain-technology focused BETR has adapted its decentralised betting system to give customers the opportunity to now place bets using multiple cryptocurrencies.
As part of the new system changes, punters will have the option to decide which currency they wish to place a bet in. Wagers will then be stored in any one of the supported currencies, and can then mixed on both the bet history and in the underlying smart contracts.
Launching the new multi-currency betting, BETR Founder Adriaan Brink commented: “Today we introduce native ETH betting – a bettor can now bet in either BETR or ETH. If you bet in ETH you will be paid winnings in ETH. Simple. And it works. Seamlessly.”
Once a customer has decided upon a currency, the bet will be recorded, along with a fixed exchange rate which will be used to calculate any possible winnings.
The bet will be laid against the peer-to-peer layer at the BETR amount according to this rate. From the perspective of the person laying the bet, this will be a BETR bet. Layers will always lay in BETR, and the underlying escrows will also occur in BETR.
In addition to the laid bets, affiliate payouts revenue shares and the underlying liquidity pool will also remain in that currency.
Brink, commenting on the possible implications of this technological innovation added: “Looking to the future, this brings an exciting addition to our platform. We are working on adding cross-chain cryptocurrencies such as EOS and LTC to the client and hope to have more news on these soon.
“We are also, as a part of this change, moving to a technical architecture where we will be able to operate across multiple core systems, be it Ethereum, EOS or any other performant cryptocurrency.”
