FansUnite is a Canada-based startup that is bound to revolutionise the online sports betting world with the use of an Ethereum-based blockchain technology system. Part of their mission is to provide bettors with a sports betting experience that is cheaper, more secure, and entirely transparent. In doing so, they will use the power of the Ethereum blockchain and smart contracts. The release of the blockchain-powered FansUnite Sportsbook is one of the most-anticipated developments that is expected to take the sports betting community by storm, with a very interesting partnership with the Leicester City Football Club already been formed.
Leicester City Football Club fans are in for special promos, surprise giveaways, contests, and other incentives available throughout the season, along with special offers that will be provided to them when the FansUnite Sportsbook goes live – perhaps also including a welcome offer like most sports betting platforms?
How Does FansUnite Work?
The use of smart contracts and blockchain technology will make all transactions to be stored in the blockchain, which will prevent after-match manipulation of any kind. Users will only need their public address name to place their bet while the purchase of FAN tokens (will be used instead of money in the bets) will be an easy deal, where users will only need to provide minimal personal information and a valid email. That way, the sports, gaming, and entertainment company intents to achieve high levels of transparency and security.
The FansUnite Sportsbook will be the first decentralised application that will utilize the potential of the FansUnite Protocol to the fullest. The FansUnite Protocol is a fully decentralised infrastructure for sports data that sits on the blockchain and spans a plethora of fee-free, data-reliant sports applications (aka decentralised applications or DApps), including daily fantasy sports, betting exchanges, and traditional sportsbooks. These DApps will have their own tokens which they will utilize for betting, while also setting market prices transparently.
The FannUnite Sportsbook will provide the offerings bettors can find in most traditional sportsbooks. The difference is that it will only accept the FAN (FansUnite token) as a currency. Plus, it will be able to offer a 1% margin, which is a significantly lower fee on bets compared to other online sports betting platforms. Finally, the FansUnite Sportsbook will also feature social elements, such as the FansUnite Social Network, which encourages the communication (and learning) between wagers.
The FansUnite Social Network
The FansUnite Social Network is an innovation that will probably become one of the strongest cards of FansUnite. The goal is to educate bettors as a means to nurture a loyal token base (and also increase token value) while also bring research time for the average wager down by 80%. For that reason, the FansUnite platform will give its bettors exclusive access to an elite social betting environment and transparent results-based, cutting-edge analytics.
On top of that, the Sportsbook will connect the FansUnite Social Network to the bookmaker, giving users the chance to use the platform’s data API to the full advantage and, at the same time, follow their favourite bettors. As a result, the bets get down much faster than ever before, and users save enormous amounts of time (and money) as they can make instant bets with FAN tokens.
In simpler terms, each FansUnite user will be able to have their profile publicly visible if they so wish (only a public address and customer username required, so anonymity is ensured), where other members can view that user’s betting history (verified details ranging from ROI percentage and overall profit to average bets and performance in specific leagues). That way, members of the FansUnite community will be able to track down profitable users and go through performance statistics (and analyse their own strengths and weaknesses), leaving the need for touts out of the equation.
FansUnite Available Sports
Although the final list of the sports that will be available on the platform has not been revealed yet, sports fans will most likely see popular sports like Cricket, Rugby, and Football available for sports betting – potentially via either the desktop or mobile version of the platform. Of course, we could rightfully expect American leagues (see NBA and NFL) to be included on the list of offered sports for betting.
Deposits & Withdrawals
Deposits and withdrawals is a time-consuming process that could have bettors waiting for their transactions to come through for several days. However, all that changes with cryptocurrency, and bettors can now enjoy fast transactions regarding their assets. Besides that, wagers can also choose to keep their assets securely in their online wallet until they place a bet.
Without a doubt, FansUnite brings something new to the table – a deal that moves the responsibility over accurate and fair bet resolution out of the control of mediums and into the hands of sports fans, leaving no room for any data tampering or manipulation.