Better.Fan brings to light Web3-based sports betting platform

Published: January 18, 2023 1:24 pm | Updated: January 18, 2023 1:38 pm

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News 115

Web3-based gamified sports betting platform called Better Fan made public their development of a new secure platform that combines Web3 infrastructure with the play-to-earn (P2E) concept.

Metin Durgun, the company’s CEO, commented that the flourishing US sports market had begun to fully understand the need for safe, sustainable, and legal revenue streams. He highlighted Web3 as an answer to the sports betting industry’s cyber security problems, saying Better Fan’s platform offered a ”closed economy.”

Durgunshared: “Better Fan’s gamified platform promises to revolutionize the world of sports betting.” He noted that 47 million Americans had placed at least one bet during the 2021-2022 season, according to data made available from the American Gaming Association.

Better Fan presents itself as the world’s first Web3-based gamified betting platform, with the element of gamification, meaning that customers are not liable to lose large amounts on bets. Instead, they can enjoy gaming mechanics in a non-real-money environment.

Durgun added, “On Web2-based platforms, people use real money to place their bet. But if they lose, their entire stake will be lost.” As Better Fan users don’t stake anything of monetary value, they can only lose their daily bets, and that renews every 24 hours. Each user’s NFT-based ‘fan cards’ determine bet amounts and daily betting limits. Users are able to upgrade these NFTs, thereby increasing their card rates.

How does Better Fan work?

If players do win their wagers, they get Better Fan’s BTB (Better Than Bet) utility tokens. These can be used for in-game activities, and users may exchange them for US dollars while directly in-game. Durgun commented: “Better Fan’s gamification approach is based on the P2E model. It prevents illegal activity because it doesn’t let ‘hard money’ onto the platform.” The ”closed economy” system used means US players are not liable to lose real money.

What is Web3?

Web3 is an idea for a new iteration of the World Wide Web. It incorporates concepts such as decentralization, blockchain technologies, and token-based economics. This concept technologies like distributed ledgers, artificial intelligence, Metaverse, and others. They aim to create the next-generation internet, which is accessible to everyone and offers benefits.

Source: gamingamerica.com

Better is a gamified Web3 sportsbook ecosystem. Unlike traditional sports betting, Better players don’t need to bid any money. With every successful bet, depending on each players Fan Card (NFT) attributes and overall odds, users will be rewarded with utility tokens $BTB or $BFF.

Better is a gamified version of sports betting. The user experience is totally the same since we especially focused on this matter. The key difference is that users cannot bid any amount of money. Fan cards give to users a daily betting opportunity. If the bet is successful, the Better ecosystem will reward users with tokens. If the bet is unsuccessful, users can come back and try again once their betting limit is renewed.

Yes – players need to buy at least one Fan Card in order to make bets.

Liga Tarasova

Liga Tarasova has a history of quality assurance and leading teams in an outsourcing company. Currently, she is working remotely as an Editor in Chief for Onlinegamblers.com. She stands for fair and safe gambling for people in the USA. Not long ago, she lived in Malta, the global iGaming hub, and worked at an iGaming company offering cloud-based product and platform services to B2B partners. Liga’s passion is visual arts and interior design.