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Betbox Review: Introduction

The growth of the online gambling industry remains unrivalled. In a very short time, online betting platforms have replaced conventional outlets and shops. 

Convenience, benefit of loyalty points, different deposit options, wide range of betting options etc are a select few new innovations introduced by online gambling that has won the heart of bettors. Despite the significant progress, there’s still room for improvement.

Certain areas of online gambling, particularly security seek new solutions. Centralization in online betting platforms leaves customers at risk of data and fund theft. Also, operators of these platforms have to deal with obligatory tasks such as maintaining and upgrading central servers. As a result, they have to charge it back from their customers which in turn leads to high service fees. Downtime is yet another shortcoming associated with centralized gambling platforms. 

To summarize, the rest of this article contains a detailed review of Betbox, a game-changer in the online gambling industry.

Betbox review

About Betbox

Betbox is a decentralized online gambling platform that leverages blockchain technology to deliver topnotch online gambling services to its customers. 

This decentralized feature avails users the rare opportunity to enjoy transparency and immutability. Also, this platform uses smart contracts for all money related transactions. By doing this, the platform makes a bold statement on Betbox’s priority – Trust and Transparency.

Verity a third party algo to handle disputes

Every online bettor knows that disputes are highly inevitable when the stakes are down, and how properly they are managed speaks in loud volumes of the platform operators. Betbox integrates Verity, a third-party oracle into its ecosystem to ensure fair and comprehensive dispute resolution by humans.  

For games that involve random outcomes, Betbox deploys a pseudo-random information from the future to carry out RNG (Random Number Generation). This nullifies the chance of outcome manipulation by rogue operators.

24 hours uptime with decentralization

Another great feature of Betbox is its guaranteed 24-hour uptime. Thanks to the absence of servers, server related downtime issues and incurred costs of maintaining and upgrading hardware are nonexistent on Betbox. This allows users to enjoy a hitch-free and cost efficient online gambling experience.

Betbox deploys a unique approach to curb inflation and protect investors. Furthermore, it uses smart contracts which are designed to reimburse 20% of the company’s commissions in ETH. These commissions are given to volunteers in exchange for OX.100 Mio (Betbox’s native token). 

Betbox runs a sidechain that helps improve its scalability by processing smaller transactions. Furthermore, the platform has an open culture where any new member is welcome. Since anyone can join the OX-sidechain consortium on the condition that he/she holds on to 100.000 OX tokens. In addition, users that run a node are rewarded with commission from the sidechain.

Summarised features and benefits of Betbox 

  • Trust and transparency
  • Multilingual support
  • 24/7 Uptime
  • Reliable and fair dispute resolution system
  • Cross platform compatibility (web, android, iOS)
  • Wide range of games and betting options 
  • Incorruptible RNG system
  • EVM sidechain to enhance scalability
  • Peer-to-peer bets
  • Community driven ecosystem with incentives for participants

Betbox review: Use Case

David is an ardent online gambler who has had his fair share of the downsides of existing gambling platforms. As a result, he lost a fortune to rogue online casino operators who manipulated outcomes. Besides that, he totally lost hope in the alternatives due to delayed payouts, unresponsive customer support, frequent downtime and poor user interfaces. 

He was introduced to Betbox by a friend and he decided it was worth a shot. As they say, the rest is history!

Tokenomics

OX is the ERC-20 native token of Betbox. It is the first token based on activity mining consensus with unlimited supply. Asides fueling transactions within the ecosystem, OX tokens can be burned in return for quarterly commissions.

Video Review

Final Thoughts

The introduction of blockchain technology steers online gambling to a whole new direction. With Betbox at the forefront, it is expected that new and existing online gambling platforms incorporate blockchain to improve service delivery in the near future.

Information and resources

Website Whitepaper Betbox Twitter  Betbox Facebook
Betbox Telegram  Betbox Medium  Icobench Page 

Roadmap

  

Daniel Okorafor
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Daniel Okorafor

Passionate about modern disruptive technologies and their impact on diverse aspects of human life. He has a wealth of experience in blockchain content creation and community management having written topnotch article reviews and whitepapers for several STOs and ICOs.
Daniel Okorafor
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