Okay! There’s no problem that it took you time to respond. The important thing is that you answered the question satisfactorily anyway. Now talking about preventing fraud in the sporting industry, can you highlight some of the fraud you’ve identified in the industry which the X-Sport targets to address?
hi !
user can start betting on their favorite e-sports events and matches with as little as 5k bttc, which is equivalent to about $0.05 USD at the current exchange rate. You can also withdraw your winnings from your X-Sport account anytime you want, as long as you have at least 700k bttc, which is equivalent to about $7 USD. We have chosen these amounts to make our platform accessible and affordable for all e-sport fans, while also ensuring that we comply with the anti-money laundering and KYC regulations of the jurisdictions where we operate.
3 Likes
hi, Yes, our platform is responsible for every transaction that occurs on X-Sport, but our platform is not directly responsible for the distribution of winning money (if that’s what you mean) because all payment calculation processes, receiving bets from users, and paying out the winners are all set by the smart contracts that we have. This way, we don’t store any data from users and don’t receive bet money or money won by users. Instead, the users interact directly with the smart contracts and receive their payouts automatically and securely. This also eliminates the need for intermediaries and reduces the fees and delays associated with traditional payment methods. We believe that smart contracts are the future of online gambling and e-sports betting, as they provide transparency, fairness, and efficiency for both the platform and the users.
2 Likes
As a subscriber, there are also other benefits that can be used in addition to watching exclusive matches such as:
- Special strategy recommendation threads made by expert e-sport analysts from our team. These threads will provide you with insights, tips, and predictions on the upcoming matches and events, as well as analysis of the past performances and trends of the teams and players. You can also interact with the analysts and other subscribers in the comments section and share your opinions and feedback.
- Special badges for subscribers that will make your messages on live chat more easily noticed by other people watching. These badges will show your loyalty and support for X-Sport and your favorite e-sports games and teams. You can also customize your badges with different colors and icons to suit your preferences and personality.
We are constantly working on improving our platform and adding more benefits and features for our subscribers.
We try to solve some of the problems that are often found on medium to small-scale betting platforms, with x-sport It prevents match-fixing, identity theft, and money laundering by using blockchain technology to verify and record the results of the matches and events, as well as the bets placed by the users. It also protects the users’ identities and funds by creating a decentralized and anonymous system that does not require or store any personal or financial data from the users. X-Sport also works with reputable and licensed e-sport organizers and operators, and complies with the anti-money laundering and know your customer regulations of the jurisdictions where it operates.
You can see some evidence of betting platform fraud that was discussed in the news media in the deck we shared such as ladbrokes and skybet. (if the question you are referring to is an example of a platform affected by fraud)
Alright that’s cool, thanks for the response, wishing you all the best
1 Like
I must confess, beyond exclusive match viewing, it’s fantastic to see X-Sport considering various subscriber benefits.
You clearly mentioned live matches and expert analysis, makes me wonder if we’d see along the line additional types of content such as interviews, documentaries, or behind-the-scenes glimpses into the world of e-sports, just curious. Thank you!
1 Like
Thank you for providing this answer. Now talking about this, can you highlight the strategies you planned to employ to ensure compliance to regulatory principles in the online betting industry?
1 Like
Hi
X-Sport aims to ensure compliance to regulatory principles in the online betting industry by using three main strategies:
- following the advertising and marketing regulations of the jurisdictions where it operates
- cooperating with reputable and licensed e-sport organizers and operators;
- enhancing cross-border cooperation and licensing with other regulatory authorities. These strategies will help X-Sport prevent fraud, money laundering, data breaches, and unethical advertising practices, as well as protect consumers and promote responsible gambling behavior.
Thanks for the clarification.
But what happens when winning exceeds the available money in the pool.
There was an instance in Ghana where a man won 57 million cedis on Safari Bet platform. The company couldn’t payout this payment because of lack of funds to make this payment.
The case was settled in court, even though the man won the case but he didnt get any settlement because the company had collapsed.
3 Likes
Was the reply post flagged as being inappropriate or how?
1 Like
hi
That case can occur if the gambling platform provider becomes a bookie who also bets their money. so when they lose in guessing a victory then they have to pay it with company money. This is risky, because if they lose, they have to pay out more money than they collected from the bettors. This can happen when the winning exceeds the available money in the pool, which is the total amount of money that the bettors wagered on an event.
However, on X-Sport platform, we are not bookies. We are only service providers who facilitate peer-to-peer betting among e-sport fans from all over the world. All the money transacted on our platform comes from the users themselves. Therefore, the case of winning exceeding the available money in the pool will not happen on our platform. The odds on our platform are determined by the supply and demand of the users, and the payout given to the winners also comes from the users who lose in guessing the winner.
1 Like
Thanks for the swift response. Your approach to regulatory compliance is quite commendable as these approaches you just highlighted will help maintain a safer online betting industry. I have another question for you which you may consider as my last question here and that is on which type of esport matches users can bet on the platform.
Thanks for the detailed explanation.
I now get why the betting company was not able to make payment to the winner.
Thanks for the clarification.
2 Likes
Hi
The types of e-sport matches that users can bet on X-Sport platform vary depending on the game and the tournament format. Some of the common match types are best of 1 (BO1), best of 2 (BO2), best of 3 (BO3), best of 5 (BO5), and best of 7 (BO7), which indicate how many games are played between teams to determine the winner. Currently the games available on our platform are: mobile legend, valorant, league of legend, dota 2, fifa 23, pubg, cs and rocket leagus
We are also trying to continue to develop the betting system in order to add various genres and technical game matches.
2 Likes
Okay, thanks for answering my questions. It’s good to know the type of matches you’ve provided for users to bet on and also the variety of games you’ve made available in the platform. Goodluck to the ongoing development, I hope the project continue to thrive 
3 Likes
I agree eSports market will continue to grow and it’s great to see more Web3 solutions. Im curious what games can a user expect when visiting your platform? I see Rocket League was an option but could you please also list some A list games a user could expect to bet on when visiting the platform?
Thank you!
1 Like
Hey Steve, I think you can find the answers to your questions here X-Sport by Betron - E-sport community to place bets in a safe and fair way - #37 by Adinil
Should incase you’re looking for something else, I believe the team will provide you with more information on it
2 Likes
You have made the Web3 category represent a sport so beautifully that I spent a lot of time on your site. I will be eagerly waiting for you to bring new game categories. Please continue to improve and bring more great content. May a bright future be with you. Voted for you, best wishes
1 Like
Hi, thank you for your interest in X-sport.
To answer your question, X-sport offers a variety of esports games and events to bet on (we already prepared the betting system on the backend), such as MOBA (ML, Dota, LoL), FPS (CS and Valorant), Battle Royale (PUBG), and more like FIFA and Rocket League. However, due to the licensing and regulation issues of each game, we are currently only able to run Valorant and ML on our platform. We are also currently planning to add some new types of betting systems for other types of games to be used on our platform such as Clash Royale, fortnite, and apex legend.
We are still working hard to get the permission to restream/show the matches of other games, so that our users can enjoy a wider range of betting options. We hope to have more A-list games available soon on X-sport.
1 Like