Since the very beginning, we have heard that the online betting industry is a true mammoth when it comes to the number of online participants and the amount of revenue the industry generates on a yearly basis. According to the report published on Casino.org, in 2017 alone, the online gambling and betting industry racked in a total revenue of more than USD 400 billion.
While this number is not small and insignificant in itself, the fact that adds more prominence to this is the number of players who are actively seeking and joining various new platforms every day. Till this date, all the online -platforms supporting gambling and betting of various forms have been running in the traditional paperless economy system. While there is nothing wrong about this method, there are certain disadvantages and obstacles that can be easily overcome with technology upgrade, and thus the introduction of CyBet.
What is CyBet?
First in the world and one of its kind, CyBet is one of the most secure and technologically advanced online betting portals there is. The platform is based on the blockchain and boasts of secure smart contracts and easy availability of tokens (in the form of CyBet token) to initiate and complete various forms of transactions.
Although the Blockchain system is not entirely a new concept in itself, the implementation of blockchain in online betting is. With CyBet, players all across the globe can securely purchase CyBet tokens with the help of Ethereum or ETH.
On the platform, 1 ETH= 1,000 CYBT and thus the intensity of its scope can be well understood. Once the players have purchased the desired amount of CyBet tokens, they can start using the same to place bets on odds of their choice. Once the results of the bet are declared and the prize amounts of the winning players are automatically transferred back to their ETH wallet to further cash out as profit.
The Concept of Creation
The main idea behind the creation of the CyBet platform as stated by the founders is to create a fully decentralized autonomous online betting system which allows players from all across the globe TO bet the odds on any sports of their choice anonymously and securely. The approach of decentralizing the platform and the idea of keeping all the players anonymous at all times has many advantages one of them being the opportunity to go around bookmakers who are known all across the globe to keep a hefty amount of profit for themselves and also set up sports matches.
Another astounding ability of the CyBet platform is to enable the players to bet their odds on any sports all across the world. While traditional online betting platforms often limit player’s prospects of choosing a sport on their own, the CyBet platforms will allow the players to choose all sports happening at any corner of the globe.
CyBet – A Transformation Betting System
With CyBet the image of the online betting economy is set to change the present online betting scenario. It is a user-centric platform that operates on a decentralized approach to facilitate players and bookmakers across the globe with boosted opportunities to earn substantial profits.
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This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.