Overview of Bitgoals As The Blockchain Solution To Online Sports Betting

The blockchain technology has taken its root as a disruptive technology of the 21st century and it's being applied in different industries. The sports online betting community is not left out of this buzz. As we all know sports betting has been around for a long time although its mode of operation changed from paper betting when the internet was introduced and the game took a new dimension. sports betting can simply be referred to as the process where someone places money to stake against the outcome of a sporting event which results in loss or wins. The online betting market is very massive with huge sums of money being invested by people all across the globe.

Sporting events generally serve as a unifying factor that brings people from all walks of lives together regardless of race, ethnicity, religious beliefs, sexual orientation and so on and such are visible when major sporting fiesta is taking place for instance, the UEFA champions league, Olympics, and others too numerous to mention and to the world most talked about event which is the world cup. Presently the FIFA world cup is holding in Russia, tagged RUSSIA 2018, as a unifying platform, we have witnessed people from different races chants in support of their home countries or favorite country's team, all done in ecstasy. Inasmuch as the world cup is going on with its fanfare, people are making money through match betting and these bets are done mostly on a centralized system managed by online bookmakers. Sports enthusiasts and lovers do not need to be on the sideline to enjoy just the beauty and fun that goes with the game, also put your knowledge into use and get rewarded at the same time by predicting and winning. There are varying problems with the traditional online sports betting platforms available now as outlined below;

Existing Problems

Non-availability of payouts as at when due: Most online bettors do not get their pay (reward) cashed out immediately a bet has been concluded.

Complex registration process The process involved in the traditional or centralized system is rigorous and frustrating which takes time to complete.

Lack of trust and transparency: Due to the human factor, sometimes records are tampered with and unnecessary interference by bookmakers which leads to fraudulent activities.

Limitation to the amount that can be used for betting: Some centralized platforms place limitation on the amount that can be used for betting. There are instances due to third party involvement, funds deposited often don't arrive on time on user's accounts and withdrawals are also pegged to a certain amount and when such an amount is exceeded, an additional fee is incurred by the user.

These problems stated above has a solution and the provider is no other than Bitgoals. Bitgoals is a renowned company with a proven track record in the online betting sports arena and they are leveraging on the core fundamentals of the blockchain technology which are decentralization, trust, and the distributed ledger system that guarantees immutability of data on its network in deploying a platform that incorporates its features in arresting the challenges faced by the present online betting market. The platform will bring about transparent sports betting where users/gamers will be rewarded accordingly. Smart contracts will be deployed to enable seamless transaction and registration process. Due to decentralization and smart contracts deployment, activities here will be carried out automatically with no human involvement thereby eliminating manipulation and fraudulent actions as witnessed in centralized systems.

Bitgoals' Solution
Almost instantaneous payout method: Once a user complete transaction(s) on the platform, the wallet will be credited immediately and there will be no delays. It's comforting to know that no matter the amount the payout is, it will be paid out without resorting to paying by bits which is an inherent issue with the traditional online betting.

Hassle free registration process: A very simple registration process involving inputting a wallet address and the user is set to go, and also users true identities are not revealed.

No limitation on the amount to be used for betting: There is no limit to how much a user can deposit or withdraw and also there is no restriction on amounts that can be used to place bet(s). Funds deposited are credited to user's account almost instantly.

Trust & transparency guaranteed: With the use of the blockchain, transactions are secure and safe and all data are immutable and cannot be altered thereby bringing about trust and transparent handling of transactions which in turn will build confidence on users.

As highlighted on the below figure showing the competitive advantage of using the Bitgoals' platform, it is a well-orchestrated ecosystem to rescue online sports gamers who are into betting from the hands of centralized betting system. Careful analysis of these advantages places Bitgoals on a better stand.

Benefits of Pitching Tent With Bitgoals

Anonymosity of users with their privacy intact
Almost instant payout
No limitation to funds for betting/withdrawal
Rewards as the system have inbuilt incentives
Trustworthy and transparency
Elimination of fraud
No hidden transaction fees
No intermediaries
Easy to use interface
Secured

Bitgoals Token & Details
The token will serve as the powerhouse of the Bitgoals platform and will be used for all transactions and it referred to as Bitgoals with the symbol SKP (Sports Token Protocol). The token will serve as access to holders to play games and place bets on the platform.

Token name: Bitgoals
Ticker: STP
Token standard: Hybrid

Website: https://bitgoals.com/
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=4428882
Bitcointalk bounty thread: https://bitcointalk.org/index.php?topic=4447485.0
Youtube channel: https://www.youtube.com/channel/UC-u6-DFb6pglkB9ksvAXIAw
Medium channel: https://medium.com/@Social_4834
Facebook: https://www.facebook.com/BitGoalsSTP
Telegram: https://t.me/BitGoals
Twitter: https://twitter.com/BitGoals

Author's details
Bitcointalk username: mayukus4life
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1777715
ETH wallet address: 0xEbb2204B0F92D51D00Ded27f00030f52a7378834