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Block Sports

Decentralized Sports Betting Exchange

The Block Sports Exchange is a decentralized marketplace for users to bet against one another on the outcome of sporting events. Similar to the buy and sell mechanism of currency exchanges, users can bet for and against the outcome of an event. ‍ Utilizing the Neo blockchain, Block Sports enables secure cryptocurrency betting where escrow and processing are handled on-chain, giving users true control of their funds.

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Benchy 2.7
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Token
BSX
PreICO Price
1 BSX = 0.40 USD
Price
1 BSX = 0.5 USD
MVP/Prototype
Platform
NEO
Hard cap
5480000 USD
Country
Whitelist/KYC
KYC & Whitelist
Restricted areas
China, USA, North Korea, SIngapore
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About Block Sports

There has been a recent rise in cryptocurrency based betting services to meet the demand of a market that prefers its use over fiat currency. While popular, these escrow services follow an unfavorable trend of utilizing cryptocurrency in a centralized manner, creating counterparty risk that did not previously exist. This occurs as users entrust the ownership of their cryptocurrency to services which are susceptible to hacks and leave little recourse to victims of theft. We propose a sports betting exchange which solves this issue by means of decentralization, removing central points of failure to allow the use of cryptocurrency without counterparty risk.

A sports betting exchange is a marketplace for the trade of sporting outcomes. Unlike a traditional sports betting platform, a sports betting exchange eliminates the need for a central bookkeeper and instead enables users to place bets against one another. This paper details Block Sports, a decentralized sports betting exchange that approaches the concept of a blockchain-native sports betting platform with two key objectives — creating a decentralized and trusted framework for sports betting and providing a rich user experience through an off-chain service layer. Utilizing the Neo blockchain, a solution is proposed which integrates a decentralized oracle consensus network with a series of smart contracts, allowing users to place bets on sporting outcomes with NeoGas (GAS). The result is a platform that solves the issue of counterparty risk while still remaining competitive with traditional sports betting exchanges.

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