Cryptocurrency
How CHPZ Token is Powering Decentralized Sport Betting
The online betting industry has seen many innovations in the last few years as most bookmakers move from traditional sportsbooks to crypto betting. Even better, blockchain technology is catching up with the industry as new decentralized platforms enter the market. One such platform is Chipz, a decentralized betting platform powered by its own CHPZ token.
The CHPZ token will give users the access they need to participate on the Chipz platform as either bookmakers or bidders. According to the Chipz Whitepaper, the current Chipz Beta version will allow users to bet on any sports event provided by the platform’s oracle explorer. Although Chipz Beta only provides for NFL elements, Chipz’s developers claim that future versions will allow CHPZ holders to become bookmakers who create their own events.
Let’s look at how the CHPZ token powers this decentralized betting platform and opportunities for sports fans.
The Chipz Betting Platform
Before looking at the decentralized betting token, it is wise to understand the basics of the Chipz platform. As enthusiasts of gambling would have it, the future of betting is the ability to bet on anything.
Features of the Chipz platform that make it a pioneer of decentralized betting include:
- No limits on the bets.
- Absolutely no KYC procedure is required.
- Betting on sports and any other events with uncertain outcomes.
- Chipz is also introducing NFTs.
- Lending protocol for fans who have run out of CHPZ.
- Users can join the platform as bidders or as independent bookmakers.
The CHPZ token will come in handy as the currency that fuels transactions made by sports betting fans in the ecosystem.
How to Use the CHPZ Token
CHPZ is an Ethereum blockchain-based ERC-20 token that is circulated by the Chipz platform. The token will power all the betting processes on the platform. There are a total of 100M CHPZ tokens to be supplied – 20% of the total is locked for the Chipz team, with 5M to be released every 6 months.
Early adopters of the Chipz system can obtain CHPZ from Uniswap through the upcoming public sale. You will also be able to get CHPZ as a loan using your ETH or other Chipz partnered cryptos as collateral in later Chipz versions.
Once you have access to CHPZ, you can start participating in the betting ecosystem at any time and from anywhere.
You can use the CHPZ token in the following ways:
- Stake on a bid
- Create a booking instance
- For governance in future versions
Staking using CHPZ
Chipz platform will only allow bids to be set using its CHPZ token. Once you stake on a bid, the smart contract will execute, and earnings will be deposited into the accounts of the winning bids.
If you stake using loaned CHPZ, you only earn if your bid wins. In case your stake loses, the loan will be executed and distributed to the winning bidders.
Staking using CHPZ will allow users to participate in global gambling markets without restrictions on staking amounts like most current bookmakers.
Using CHPZ to Create Booking Rooms
CHPZ gives you the option to participate as a bookmaker on the Chipz platform. You’ll use the token to pay for the room creation fees and any other fees pertaining to the smart contract.
When a smart contract is finalized, all earnings will be paid to the bookmaker in CHPZ token. Even better, despite being a host of betting rooms, you can also participate in other rooms as a bidder – provided you have enough CHPZ.
In conclusion, the ability for sports betting fans to make good earnings using their CHPZ tokens – more so without limits and KYC demands – will only get better as the platform’s developers add more features.
Fintech crypto company Payhound has been facilitating leading data provider LSports to accept payments from its clients.
As the premier data provider, LSports offers real-time sports data, providing operators with a competitive edge in the sports betting saturated market. By using Payhound’s solution, LSports can conveniently receive payments from its clients, significantly enhancing operational efficiency.
Established in 2018, Payhound’s mission is to enable businesses to handle cryptocurrencies with the same ease, security, and transparency as dealing with fiat currency. Through crypto, Payhound offers fast and efficient international payments, with security being a fundamental principle in all its operations.
Commenting on the partnership, a spokesperson for LSports stated: “Partnering with Payhound to optimize our payment solutions signifies a significant advancement in our global business strategy. This collaboration enables us to conduct transactions swiftly and securely, further bolstering our position as a premier data provider in the industry.”
Elton Dimech, Managing Director at Payhound, added: “We are delighted to service LSports.Through our platform, clients like LSports can easily receive payments, have such funds instantly converted into fiat, and as a result, greatly improve their operations and availability of funds. We look forward to continuing to be their reliable crypto partner in the future.”
Payhound is licensed by the Malta Financial Services Authority (MFSA) and is a holder of a Class 3 VFA License under the Virtual Financial Assets Act of 2018. The company has recently revealed its achievement of ISO 27001 certification for the second consecutive year.
The post Payhound empowers LSports with a seamless solution to receive payments appeared first on European Gaming Industry News.
Crypto iGaming industry
Elray Resources Inc. Officially Launches Kings of Sport – a Pioneering Crypto Casino
Elray Resources Inc., an emerging leader in the Crypto iGaming industry, has launched Kings of Sport (KOS), a state-of-the art online crypto casino that brings together the world of cryptocurrencies with the excitement of traditional casino games.
Kings of Sport is expanding player options in the online gambling industry by providing users with a diverse selection of classic and modern casino games that can be played using popular cryptocurrencies like Bitcoin, Ethereum, and others.
“Our partnership with KOS is a major step toward deploying Elray’s Crypto IP and expanding our presence in the growing Crypto iGaming market. We are pleased with the immediate response by players to KOS’ unique Crypto Casino offering, as evidenced by the registration of over 3,500 users during the first week,” Vincent Cai, chief technology officer at Elray, said.
Key Features of Kings of Sport:
- Wide Selection of Games: Users will have access to a wide range of classic and modern casino games, including live, slots, poker, blackjack, and roulette, among others.
- Cryptocurrency Integration: Kings of Sport supports multiple cryptocurrencies for deposits and withdrawals, providing users with a seamless gaming experience.
- Provably Fair Gaming: The platform offers tested and proven games offering high payout percentages.
- 24/7 Customer Support: Dedicated customer support team available round the clock to assist users with any queries or concerns.
- Fast Payouts once players have been verified.
- State of the Art User-Friendly Interface: The platform is designed to be intuitive and easy to use, ensuring a smooth gaming experience for all players.
“The registration numbers have been much higher than our expectations and, with this new KOS platform, we are bringing together the world of cryptocurrencies and online gaming to create that unique experience. We believe the rollout of the KOS platform will achieve the highest standards required to provide crypto players with a secure, fair and enjoyable gaming experience,” said Mr. Cai.
Global MMA legend Michael Bisping has signed a sponsorship deal with the fast-growing top-tier crypto casino Lucky Block.
The tie-up between the Mixed Martial Arts and UFC superstar and the premium sportsbook and casino entertainment platform is a win-win for Bisping fans and Lucky Block’s swelling customer base of highly engaged players.
This deal secures opportunities for both parties by leveraging the valuable synergies present in the colliding worlds of sports and online gaming.
Through securing the sponsorship deal with Michael Bisping, Lucky Block is joining the big league of crypto casino industry leaders who understand the business impact of top-level sports sponsorship deals.
Aligning with the world of competitive sports, Lucky Block is not only endorsing a celebrated athlete but is also tapping into the fervent sports fan base that is growing by leaps and bounds. Together, Lucky Block and Michael Bisping are bridging the gap between traditional sports and the burgeoning world of crypto-based betting.
Damian Jacobs, Lucky Block community and growth manager commenting on the sponsorship deal, said: “We are pleased to announce our sponsorship of UFC icon Michael Bisping. We believe this deal will be a powerful catalyst as we embark on the next leg of our journey to lead crypto gaming’s conquest of the online sports entertainment and betting industry.
“This partnership shows that Lucky Block can mix it up with the other industry leaders. Our sponsorship of Michael Bisping shows we understand the importance of developing and exploiting the brand projection potential at the intersection between the sports domain and the disruptive power of crypto betting.”
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