Betting On the Blockchain: Altbet Places The Right Bets

Project Reviews / 27.03.2019
According to Statista, the online gambling market is currently worth almost $46 billion. This figure is expected to double to $94 billion by 2024. This suggests that more casinos will take their businesses online, and the number of players will increase. While this is a good move for the industry, it is important to understand that some online gambling platforms exist solely to enrich their owners by subverting players’ stake through unfair pre-programmed algorithms. Blockchain technology can help solve this problem. Altbet.io utilizes blockchain security, transparency, and immutability to provide provably fair casino gaming online for the masses.

Altbet Overview

Altbet.io is a revolutionary online crypto casino platform based on cryptocurrency that allows you to place bets on your favorite betting  games with the altbet coin (ABET) and, in consequence, the opportunity to multiply your crypto-wealth rapidly potentially.” Altbet is the first platform to integrate blockchain technology into the mutual betting model.

Vision

Altbet.io will become the world’s leading online mutual betting platform. And to achieve this vision, the platform facilitates betting in 4 main categories:

1. Sports

Altbet allows players to bet on all major sports, including football, basketball, rugby, tennis, hockey, handball, cricket, and combat sports.

2. E-sports

Altbet envisions a one-stop platform where players can earn while playing multiple online games like Counter Strike Global Offensive, Fortnite, Dota 2, Call of Duty, Pubg, Overwatch, League of Legends, Hearthstone, and Starcraft.

3. Markets

Allow traders to learn how to trade popular cryptocurrencies in an easy and low-risk environment with prices based on live markets.

4. Special events betting

Allow users to place bets on the outcomes of special events such as presidential elections.

Altbet Platform

Joining the Altbet platform requires a simple registration process. Altbet offers a simple online sign-up window that is easy to understand and navigate.

Registration

Registering an AltBet account is free and involves filling out a simple sign-up form. Once you submit the form, a confirmation link is sent to your email. After clicking the link,  you can access the platform.

Inside Altbet

Altbet’s home page offers an easy way to navigate and contains links to all important pages.

Altbet Games

Poker: Altbet Poker encompasses; Texas Hold ’em free tables, Russian roulette, Turbo Cash, and Super Sunday. Currently, only Texas Hold ’em, Turbo Cash, and Super Sunday are active.
Texas Hold’em No Limit Cash Game – Free poker tables with different buy-in ranges and SB/BB, where you can immediately join and play.
 
Turbo Cash: the tournament is active on the altbet platform. Buying into the Turbo game requires 500 ABET.
Super Sunday tournament – The super Sunday tournament is now active on altbet. With 5000 ABET, you can buy into the game and participate in the tournament.
Russian Roulette will also be available on the Altbet platform soon.
Dice game – Altbet offers a unique way to play Dice. The player can adjust a bet and scale their rewards based on risk tolerance.
Penalty  – The penalty game involves choosing to shoot a penalty towards the goal in one direction;  left, right, or center.
As seen above, the win’s multiplier is x 2.97 with a 33.33% winning chance, regardless of the ball’s direction. Other games on the Altbet platform include Coin Flip, Roulette, Lotto, Slots, and Crash.

Altbet Giveaways

Altbet is currently giving rewards for users based on certain tasks.
1. Being active on Discord (projects center of communication with community and developers). You get 0.1 ABET for each message.
2. Adding altbet.io to your Discord username earns 5 ABET every day for adding altbet.io to your discord username.
3. Promotional codes: These are given randomly on altbet social media pages (Twitter, Discord, and Telegram) each day. You can earn up to 1000 ABET worth of codes.
4. 5-day Streak: Earn up to 100 by visiting AltBet daily, starting from 5 ABET on day 1 to 45 ABET on day 5.
5. Affiliate Program: Altbet’s Affiliate program is the best in the industry. You can earn up to “87.5%, of the house’s earnings, by inviting your friends through Altbet’s Affiliate Program.” Your earnings can further increase when your friends invite their friends.
6. Lotto – Altbet requires that players choose six numbers from 1 to 20 (no duplicates are allowed) and buy a lotto ticket to participate in draws. Lotto draws carried out daily at 20:00 UTC.

AltBet Coin

Altbet coin (ABET) is an open-source cryptocurrency created to see faster private transactions and low transaction fees. ABET is currently Altbet’s only digital asset. It uses Proof of Stake protocol to secure its network. A variable seesaw reward mechanism is used to balance block rewards between masternodes and staking nodes dynamically. The coin aims to achieve a decentralized sustainable cryptocurrency with near-instant full-time private transactions.

ABET Masternodes

Masternodes are ABET’s backbone. They help with transaction processing and assist in creating new blocks. You can create your masternode with 1000 ABET. Having an ABET masternode will allow you to earn block rewards and also the privilege to access special events and games. AltBet offers these benefits as a bonus for masternodes contributing to the platform’s development and security. How to set your own masternode: https://github.com/altbet/mn-install

Altbet Market Opportunity

The market opportunities for Altbet.io are countless as the number of users on the platform is directly correlated with the maximum possible prize money; as more users join the platform, a bigger bankroll is formed, increasing the size of the prize pool. Blockchain-based casino gaming has been growing at a rapid pace all over the world. This trend is expected to continue to expand exponentially over the next few years. The number of users will spike, giving the Altbet platform a great opportunity to take advantage of industry tailwinds and grow in tandem. Also, being a blockchain-based platform, Altbet.io is well-positioned to solve the casino industry’s current challenges with Transparency- Without a way to catch them, traditional online casinos can cheat. Blockchain systems are fully transparent, and anything done on the network is visible to all users. Gamble price – Currently, online gamblers must pay a deposit or withdrawal fee or wait for payouts and gamble on a certain percentage house edge- usually 10-15%. The vision of Altbet is to correct this with a more fair, transparent approach. By solving these problems, the Altbet platform will continue to grow quickly.

Altbet Multi Coin Support

Altbet only supports ABET cryptocurrency now. However, there are plans to include other cryptocurrencies on the platform for bets.

Bottomline

Thanks to technological advancements, the gambling industry has survived several generations to become one of the most profitable and fastest-growing sectors. The internet revolution was a major turning point for the industry. Despite the many benefits of online gambling, internet gambling also presents inherent risks; hackers, fake betting sites, lack of transparency, and provable fairness gamblers don’t always feel safe. But, Altbet will use blockchain technology to solve these problems and correct their predecessors’ mistakes. 
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Debasish Das is from India, an engineering graduate and holds a postgraduate degree in management. He has 10 years of experience in the financial sector, having worked for one of the biggest MNC banking groups in the country. Currently he has business in e-commerce, insurance and consultancy. As an avid blockchain and cryptocurrency enthusiasts he believes in investing in the future of technology, and feels this is going to make the world a single marketplace and also give the power from centralized banks and governments back to people.