With FIFA’s World Cup 2018 edition just around the corner, football fans around the world are rejoicing in anticipation of the event. It is undoubtedly the biggest sport event of history with billions of viewers from all around the world.
Betting houses will also be happy given how many sports betting enthusiasts will be looking to support their favorite team throughout the tournament (or any other that may bring them profit for that matter). Cryptocup will merge the best of blockchain technology and sports betting in their platform. Everything will be operated with Ethereum smart contracts. You will be able to bet on national teams participating in the World Cup using Ethereum. The betting system is slightly different from the system most players know. We will explain in detail later on.
The smart-contracts of Cryptocup have been fully audited by Coinfabrik, the developers of acclaimed cryptocurrency wallets Jaxx and RSK. This ensures that everything regarding fairness and payments rules is transparent and fully compliant with Cryptocup’s claims. Furthermore, Greg Colvin , an advisor and developer of the Ethereum community will be serving the Cryptocup’s project as an advisor. All of this adds a big layer of credibility and legitimacy to Cryptocup’s game (as expected in any blockchain based betting platform).
How to play
In order to play users will need to use MetaMask’s browser extension. This extension allows you to run an Ethereum application directly on your browser (Chrome, Firefox, etc).
Players can then use their Ethereum to buy and build tokens on Cryptocup’s website. Check out their quick video explanation:
The built token is ERC721, a type of Ethereum token that it’s stored in its blockchain. Think of it like an e-ticket that can’t be altered or stolen. This guarantees the transparency and fairness we mentioned earlier.
The more predictions you get right, the more valuable your token will become!
You can then choose to keep your token until the final for a chance to get a big prize or sell it before for profit (assuming your football instincts won’t let you down).
At the time of writing (29th May), the prize pool is almost at 18.5 ETH and growing (around $10K with ETH trading at $565). Tokens will be on sale until June 14th, gradually increasing price as demonstrated on the image above.
June 14th marks the beginning of the tournament. From then on the marketplace is only open for token holders to trade tokens with each other. When the last game is played on July 15th, tokens will be listed according to the number of points they gathered based on how well they did. The prize pool will then be shared among top 10% of the tokens.
Players have two ways of playing, either making a full prediction of every game or choosing just the Top 4 teams.
This stands to demonstrate the innovation potential of blockchain technology applied to sports betting and online casinos. If you sign up using our referral code you get a 2% bonus on each token you buy.