The decentralized sports betting platform, EtherSport, has announced the launch of its ICO, which is set for November 13th.
[Note: This is a press release.]
EtherSport is raising funds through the issuance of its native ESC token, as a means of funding its roadmap and day-to-day operations. Ethersports’ goal is to create an innovative and transparent betting platform for sports events through the use of Ethereum smart contracts.
One way they plan on doing this is through their ‘Ethersports lottery,’ which involves people guessing the exact result of a sports event — something they claim no one can influence. The platform will offer two main products: “Lottery 11,” an innovative online sports lottery platform, and something similar to a a P2P betting exchange that will give players an option to do either one-on-one or one-against-all bets.
The lottery mechanism is handled via the Ethereum smart contract process, which affords participants completely fair and transparent results, avoiding unnecessary risks and scams. Because the platform leverages both blockchain tech and smart contracts, payouts will be instantaneous and transparent — all without having to fear scams or corruption because of the lack of third-party involvement in the process.
“We decided to make a perfect match between traditional online sports betting and cutting-edge technologies, namely, blockchain and smart contracts, to guarantee the fairness and full transparency of the process,“ says Alex Tsymbal, CEO and Co-Founder of EtherSport. “The platform provides equality for each participant in the system, and smart contracts guarantee the fulfillment of all conditions and payouts.”
The platform also guarantees unlimited winnings, with no limitations on betting amounts. Fast withdrawals, streamlined and easy registration with minimal personal information, and data about users will avoid third-parties.
EtherSport guarantees ease-of-play as well, with its simple lottery system. EtherSport will launch its Lottery 11 for testing early into Q1 of 2018. This will allow for preliminary, unsimulated testing. Shortly after this, Lottery 11 will be released fully, allowing users to wager ESC tokens on events. By Q2 of 2018, P2P betting will be enabled, whereby players can bet against each-other.
To raise funds for the ongoing development of the platform and project, EtherSport will issue its native ERC20 Ethereum-based token – EtherSportCoin (ESC). ESC tokens can be used within the platform to buy the lottery tickets, as a way to earn (15% of the money raised from each lottery), or as a speculative commodity to trade on major exchanges. 100,000,000 ESC tokens will be created, with 70% of these being distributed within the pre-ICO period (November 13th to November 19th) and the main ICO (November 20th, to December 20th).
More detailed description of the EtherSport project, clear roadmap, profit distribution, and ICO stages are presented in the white paper, which is publicly available on the website. Additional links with information about the project can be found below:
Visit the Ethersport Website here to learn more: https://ethersport.io
Read the Whitepaper in English here: https://ethersport.io/whitepaper.pdf
Read the FAQ here: https://ethersport.io/faq.html
Reach EtherSport on Twitter here: https://twitter.com/ethersport_esc
Like EtherSport on Facebook here: https://www.facebook.com/ethersport.io/
Find EtherSport on Medium here: https://medium.com/@ethersport
Catch up on the Telegram here: https://t.me/joinchat/HAJNAA4UJPyoNf0n4dpe0A
Images courtesy of EtherSport.