As a new generation of gamblers mature, they may prefer to bet on the sporting option they’ve grown up with. For many, that’s esports, and the technology that best fits gambling on esports events is Bitcoin SV.
Traditional sports offerings like baseball, football and basketball all require complex data layers be applied on to them, and service providers make a healthy profit selling that data to gambling operators. But as esports are played on code, the data from an esports event can naturally slide into a sports book’s tech stack, and the best way to achieve that result is through the data transmission capabilities of Bitcoin SV.
For example, a gambling platform can start taking bets and recording them to the Bitcoin SV blockchain on an upcoming or live esports event. During the event, the competitors play the game and their actions and results can instantly be written to the Bitcoin SV blockchain. Those results can then trigger code that settles player wagers, instantly paying them out.
This helps make a gambling operation more efficient, faster, cost effective, and transparent. Everything from wager to result is handled on the blockchain, and as it’s all immutably recorded, players and regulators can audit every step of the way.
Taking it a step further, if a competition has any suspicion of match fixing from a particular esport event, smart contracts could be used to put a hold on winnings until the event could be verified as legit.
This isn’t just a theory either. Developers at Kronoverse are working on a platform for esports and esports betting, exemplified by their upcoming CryptoFights game, and open to other game developers who want to join in on the action.
All of this action is made possible thanks to Bitcoin SV’s massively scaling block sizes, which create more room on the blockchain for data to be recorded and transmitted. The entire operation and history of an esports game can be kept on the blockchain, making it the ideal product for gambling operators.