The online betting and gaming industry, where something of value like money is wagered on the outcome of event or game over the internet, is one of the most dynamic, popular and fast-growing industries in the world mainly because it serves a dual purpose – entertainment and an extra income.
With a revenue of 42$ and growing the industry is a highly profitable one. But like all others, it too possesses certain problems, user-unfriendly rules, lack of transparency and high risk. A solution is required that is innovative, fair and transparent while also meeting the requirements of the market.
Yobet believes that this can be achieved through the use of Ethereum smart contracts than give users fairer pricing, transparency and more randomness in gambling. The Yobet game betting ecosystem is based on Ethereum smart contracts and earns money primarily through the user’s imperfect play and taken out of the wager amount, especially in Blackjack. Using the native Yobet (Yo) token as cryptocurrency addresses the remaining issues in the online gambling sector. Yo is built on the Ethereum blockchain standard and is an ERC20 token, which implies that Yo can be held by any wallet that conforms to the standard.
Market
The online gambling market is mainly divided into betting, casino, lottery, and poker with the sports segment expected to be added shortly following the popularity of sporting events like the FIFA World Cup. The market is characterized by a number of small vendors competing for dominance, or operating in a particular segment. These vendors have seen their possibilities of growth rise across the years. Yobet aims to tap this market with its fair and innovative solution that will generate immense revenue and subsequent profit.
Issues
Most of today’s betting games involve the use of fiat currency because of the ease of calculation involved but requires substantial proof from banks. Profits are earned through House edges ie the mathematical advantage of the site or venue over the player which results in an assured percentage of returns to the house. Users can perform fairness checks after playing using seeds that are randomly generated but it is possible for this to be corrupted by venues so that that gain an unfair edge while convincing the user that everything was performed fairly.
- High price for a gamble and user-unfriendly rules
- Lack of transparency
- Lack of balance between convenience and fairness
- Lack of integrated and smooth transaction facilities
- A lack of cost-effective and efficient funding
- Slow adoption wrt emerging trends
- Fluctuation in prices of cryptocurrencies
- Poor opinion of Cryptocurrencies
Solution
Yobet aims to create a game betting ecosystem with transparent and zero edge online betting. All games are built on the Ethereum smart contracts and the Proof of Work algorithm to ensure transparency and also means a lower price for a gamble. Players can now see transactions, sums, bets, reasons for the movement of funds and mechanism of randomness. Using smart contracts ensures that casinos can’t rig the odds in their favor since they can’t be censored due to decentralization. The development of the blockchain industry and free-market trading has allowed a new dimension of play and greater profit generation.
Mission
Yobet’s mission is to introduce a fair, innovative and transparent gambling ecosystem with a matchless and out of the world experience. This cutting edge technology will enthrall and enrich the online user experience.
Yo Token
Yo tokens are built on the blockchain – Ethereum smart contract protocol and conform to the ERC20 standard. It can be circulated and freely traded as well as used as a profitable investment. Of the total, 3 billion coins available only 66% are in circulation. Yo tokens can be deposited from outside the game floor and can be converted from other currencies like ETH, BTC, LTC, etc. Yobet charges a fee for each player’s bet depending on the game and this is partly used for development of the ecosystem.
Yobet games will unite gamers who want a fairer and more transparent industry and also build trust between the casino and player. Token holders can access online games with advantages like 0% edge in order to boost the competitivity of Yobet in the market. It also offers features like a messenger app, a guidance and counseling system, and creative new games.
Yo token is a more stable currency that functions as a convenient digital currency with a limited amount of speculative trading due to its intrinsic value obtained from market trends. The token is backed by the real assets and profits of the company. Tokens will be made available through crowdsale and Airdrop. The main tasks in the Airdrop are Register, Mission, Full name, ETH wallet, user telegram, telechat, and telechannel.
Business Model
At Yobet house edge depends on the skills of the player, the more imperfect plays the higher the house profit. Profits are earned in two main ways,
- From the player’s imperfect play. If no mistakes are made the house edge is % but if mistakes are made the edge becomes 0.8% of the money wagered.
- Sports Betting. By connecting players betting against each other and collecting a facilitation fee. This is dynamic and depends on the game, number of participants and bonuses.
Implementation
- Maximum attention is gained by listing on platforms like Bitstamp and BitFinex.
- Pricing strategies are fine-tuned so as to be competitive.
- Strategic planning of long-term goals.
- Modular and phase-wise financial plan and high profitability strategies.
Team & Partners
The Yobet team consists of highly experienced and qualified individuals with in-depth exposure to online betting, gambling, casinos, cryptocurrency and blockchain technology. The team of enthusiastic entrepreneurs handle the crypto industry effectively and aim to capitalize on the growing popularity of the online gambling sector. Yobet has also partnered with betway casino, BITSLER, and GamblingSites.com.
For More Details of Yobet:
Official Website: https://yobet.io
Whitepaper: https://yobet.io/static/pdf/Yobet%20Whitepaper.pdf
Telegram: https://t.me/YobetCommunity
Twitter: https://twitter.com/Yobet_io
ANN Thread: https://bitcointalk.org/index.php?topic=4738020.0
Medium: https://medium.com/yobet-io
Facebook: https://www.facebook.com/Yobetio-248676502357402
Post By Anton De Mel
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1770640
