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Become an Independent Betting Bookmaker Using Chipz Platform
Gambling is one of the oldest forms of entertainment. It is also regarded as a serious business too. This business has come a long way since medieval times when people bet on the winning gladiators during the Roman empire. However, such events would have not so “uncertain” outcomes as the owners of the gladiators could influence the games — an allegation that is commonly placed on most of the current betting sites.
So how do you cure the problem of sporting events being fixed and leaving bettors writhing in losses? Enter Chipz ecosystem, a decentralized blockchain-based betting platform that allows users to bet and be their betting bookmakers. What’s more, Chipz is rolling out a public presale that will gift lucky users with 5k worth of NFT to be used on Chipz’s new NFT marketplace, the chipz.drive. It is also interesting to note that the Chipz platform allows users to stake their CHPZ. This staked CHPZ is used as part of the liquidity pool. Users get 3% of their staked value (simply means that users can use CHPZ to make more CHPZ). This is an exception to betting or staking in a normal casino or sportsbook where bettors hope they can make 3% of their staked value. Sounds cool, right?
You’ve been in the backseat for too long; now, you have the chance of being on the front seat by creating and hosting betting rooms where other users can place their bets. Here’s what Chipz is all about and how you can become an independent betting bookmaker on the platform.
Chipz for Bookmakers
Chipz is a web-based betting platform that allows users to gamble on any event within betting rooms hosted by others users. To participate, users must have enough CHPZ tokens — an ERC-20 token used to run the Chipz ecosystem — to pay for room creation fees. Besides, a non-custodial wallet belonging to the user must also be linked to their Chipz account. The wallet guarantees payment for gas fees as well as the betting amount.
As emphasized by cofounder Justin Lally in a recent podcast on Action and Ambition, Chipz’s main goal is to give equal opportunities to everyone wherever they are in the world by letting them create their sportsbook and invite their friends to place bets.
Therefore, Chipz will only serve as an intermediary for independent bookmakers by providing the platform and the UI required to facilitate a book. In exchange for this service, Chipz only requires the bookmakers to pay a small fee. A bookmaker can choose either of the following payment plans to create rooms on Chipz;
- A 3-month plan worth $30 paid in CHPZ
- A 6-month plan worth $45 paid in CHPZ
- A 1-year plan worth $60 paid in CHPZ
The platform uses smart contracts to scan and report on events. The smart contract also distributes earnings after the events.
The advantage of becoming a bookmaker is that a good attendance of bids enables you to set the fees and the maximum number of bidders. At the end of the event, you will always earn off fees as soon as the smart contract finalizes.
Joining Chipz as A Bookmaker
To become a bookmaker, follow the following host workflow as recommended by the platform design team.
Step 1: Register on the Chipz platform. The process involves choosing your ideal payment plan and linking your non-custodial wallet.
Step 2: Accept terms and conditions set by the system.
Step 3: Create your username and set a strong password.
Step 4: Open the panel on the Chipz interface to create a betting room and become a host.
Step 5: As a host, choose the sports you wish to have in your betting room.
Step 6: Set the closing time for accepting bets.
Step 7: Set the betting conditions.
Once the bookmaker sets the betting conditions, the bettors can select the betting room and wait for the event’s result. The smart contract executes as soon as the event match ends. The host will then collect his fees, and the prize pool is distributed to the winning bets by the smart contract.
The bettors can then rank the host. Once done, the bookmaker confirms the contract to execute his earnings, and the betting room closes.
From the steps outlined above, it is evident that becoming a bookmaker on Chipz is an easy process and one with the real potential of being profitable. The best part is that users can become bookmakers and bettors in different rooms created by other users.
Chipz developers claim that the platform will evolve to allow users to place bets on any future event, including the prices of crypto and eSports, taking the platform’s adoption to greater heights.
Angust Nisbet
BetMGM Offers Interstate Online Poker, Merges New Jersey and Michigan Markets
BetMGM Poker has become the third US operator to offer multi-state online poker. The company has merged its player pools in Michigan and New Jersey. Both states are a part of the Multi-State Internet Gaming Agreement (MSIGA), which allows online poker networks to share liquidity and players in participating markets. The two-state network went live Wednesday afternoon after morning maintenance.
BetMGM VP of Gaming, Angust Nisbet, said: “This is a landmark day for our poker product as we combine player pools in select markets. With the introduction of shared liquidity, we’ve listened to players’ desire for more games and larger prize pools. By showcasing our best-in-class omnichannel experience – spanning property, sports betting and online casino – we’re committed to providing an unparalleled poker experience for our players.”
Michigan is the newest operational online poker market, passing legislation in 2020 and launching in early 2021. This was more than seven years after New Jersey online poker went live in November 2013.
New Jersey joined MSIGA in 2017, two years after Nevada and Delaware entered into the agreement. Michigan joined in 2022, a relatively short timeframe compared to the states preceding it.
Michigan’s entrance has fast-tracked interstate online poker compared to the slow progress made before.
Its first multi-state venture came on Jan. 1, 2023, when PokerStars Michigan combined its New Jersey and Michigan markets. WSOP Michigan became part of a three-state agreement with New Jersey and Nevada in May 2024, and BetMGM marks the state’s third major operator joining forces across state lines.
BetMGM Poker will create a more prominent player pool for New Jersey and Michigan online poker players. By nature, this will result in larger tournament prize pools for both states. It will also add extra competition for the other two multi-state sites in the two markets.
Bruce Smith Enterprise
Petersburg, Virginia Residents Vote Yes! for Live! Casino Resort
The citizens of Petersburg have spoken, and the historic casino referendum has passed with overwhelming support of over 80% of Petersburg residents voting in favor of the $1.4 billion Live! Casino Resort project, marking the highest support for a casino referendum in Virginia history. This marks a monumental step forward for the Petersburg community, as the approval paves the way for the development of a world-class casino and entertainment destination that promises to revitalize the local economy, create jobs, and invest in much-needed community services.
Live! Casino Resort, which will be codeveloped by The Cordish Companies and Bruce Smith Enterprise, is projected to bring significant economic benefits to the region. This development will include not only gaming and entertainment options but also restaurants, hotels, and event spaces, making Petersburg a destination for tourism and entertainment in Virginia. Construction will commence after the vote is certified and all required approvals are received, with an anticipated opening date of the initial first phase casino in 2026.
“We are deeply gratified by the community’s affirmation of this project and very hopeful about the meaningful impact it will have on the city’s future. The casino will not only create good-paying jobs for our residents but will also attract visitors statewide and beyond, stimulating local businesses and in turn producing an overall ripple effect of economic growth. Now that the voters have spoken, we look forward to working with the City of Petersburg and the Virginia Lottery to secure all of the necessary permitting, licensing and regulatory approvals for this project to move forward,” said Bruce Smith, Owner of Bruce Smith Enterprise, Pro Football Hall of Fame Member, Developer and Community Leader, and codeveloper of the planned Live! Casino Resort in Petersburg.
The casino project is part of a larger revitalization plan for Petersburg, which has faced economic challenges in recent years. This initiative, alongside other investments in infrastructure and local businesses, will position the city for long-term growth and success.
“The approval of the destination resort and casino in Petersburg marks a significant milestone for our City. Voter approval follows a three-year journey on this transformative project that will bring positive change to Petersburg for generations. This destination resort, casino, retail, and residential development will be the largest economic and tourism project in Petersburg’s history. City Council and administration look forward to working with The Cordish Companies and Bruce Smith Enterprise to positively impact our community and its prosperity,” said Mayor Sam Parham, City of Petersburg, VA.
Live! Casino Resort will be a catalyst for change and significant urban development, transforming the City through the creation of a thriving entertainment and hospitality destination. The project will set a new standard for gaming, hotels, and entertainment in the Commonwealth, and serve as a new world-class attraction for Petersburg and the greater Central Virginia region. The project site, ideally situated at the intersection of Wagner Road and Interstate I-95, has easy access on and off the East Coast’s major north-south interstate.
“Today is a new day for residents of Petersburg. This community has waited a long time for an economic development project of this size and scale, which will provide a huge boost for the City and the entire region. We cannot wait to start hiring local residents and partnering with local businesses and entrepreneurs. Thank you, Petersburg, for placing your trust and confidence in our team. We look forward to delivering results for you and being a part of this great community for decades to come,” said Zed Smith, Chief Operating Officer of The Cordish Companies.
Balkan's
Endorphina Partners with Volcanobet
The leading online slot provider Endorphina has recently partnered with Volcanobet, the largest concessionaire in the field of gambling in Montenegro.
“We’re thrilled to partner with Volcanobet, bringing our top-quality slot games to Montenegro and fueling their dynamic expansion into the Serbian and Bosnian markets. This collaboration strengthens our regional footprint while offering Volcanobet’s players an exciting and diverse gaming experience with our portfolio of thrilling slots,” Lohith Chittajallu, Partnerships Manager at Endorphina, said.
“The newly formed partnership between Vezuv – Volcano (Volcano BET) and Endorphina is set to elevate the gaming experience for the users and bring a new and exciting level of entertainment,” Lena Bošković, Director of Corporate Communications at Volcanobet, said.
Volcanobet is the largest iGaming brand in Montenegro, offering an impeccable supply of online entertainment and quality services. Committed to responsibly contributing to the environment and society, Volcano builds trust and takes care of its people and capital.
The post Endorphina Partners with Volcanobet appeared first on European Gaming Industry News.
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