Better Fan
Better Fan Unveils Web3-Based Sports-Betting Platform
The growing sports-betting market has increased the need for a safe, sustainable, legal revenue model. Better Fan has developed an innovative sports-betting platform that combines Web3-based infrastructure and the “play-to-earn” (P2E) concept.
Better Fan CEO Metin Durgun emphasizes the platform’s “closed economy” model: “Better Fan’s gamified platform promises to revolutionize the world of sports betting,” he said, noting that 47 million Americans placed at least one bet during the last NFL season, according to data from American Gaming Association.
The world’s first Web3-based gamified betting platform, Better Fan, aims to introduce the idea of legal, ethical and sustainable betting to the global sports-betting market. It “gamifies” the sports-betting ecosystem, thus reducing gamers’ potential losses by letting them place bets without using fiat currencies or crypto.
Durgun distinguished, “On Web2-based platforms, people use real money to place their bet. But if they lose, their entire stake will be lost.”
Since Better Fan users don’t stake anything of value, they can only lose their daily bets – which are renewed every 24 hours. Each user’s NFT-based Fan cards determine bet amounts and daily betting limits. Users can upgrade these NFTs, thereby increasing their Card Rates.
If bets are successful, users have rewarded with Better Fan’s BTB (Better Than Bet) utility tokens. These can be used for in-game activities, and users can exchange them for USDT directly in-game.
“Better Fan’s gamification approach is based on the P2E model,” Durgun explained. “It prevents illegal activity because it doesn’t let ‘hard money’ onto the platform.”
The sports-betting market continues to grow
Research suggests that the global sports-betting market will grow by almost 12% annually, reaching a total value of $178 billion by 2030.
“With traditional betting approaches, only a small portion of this revenue is shared with sports clubs,” Durgun says. “But with Better Fan, in-game taxes and fees are collected in a common pool, thus providing a much fairer means of distribution.”
-
Australia4 weeks ago
Crown Approved to Retain its Melbourne Licence
-
Australia3 weeks ago
VGCCC Fines Bookmaker MintBet $100,000 for Repeat Breaches of its Responsible Gambling Code of Conduct
-
GAT Expo4 weeks ago
Pragmatic Play Prepares for GAT Cartagena Gaming Week 2024
-
Africa2 weeks ago
BMM Testlabs Continues Its Expansion in Africa with New Licenses in Botswana and Nigeria to Test Land-Based and Digital Products
-
Compliance Updates3 weeks ago
3 Oaks Gaming extends European reach with Romania licence
-
Central Europe3 weeks ago
Gaming Corps makes key European addition with Fortuna Entertainment Group partnership
-
Press Releases1 week ago
OpenBet Powers Record-Breaking 100,000+ Peak Bets per Minute at Grand National 2024
-
Africa3 weeks ago
IESF African Regional Qualifiers Host Announced