The financial planning website, Mint, estimates that more than $8 billion is wagered every year on the Super Bowl alone with an estimated two-hundred million people making wagers on the outcome of the game worldwide. Sports betting is planted deep within the seeds of American society. iMPERIUM will never charge fees your profit is one-hundred percent yours. All the while, bettors get nickel-and-dimed through the process as the host charges fees on each bet as well as when depositing or withdrawing funds. Nevertheless, people rely on third parties to host their bets, send their money into insecure platforms, and trust that the third party will actually carry through with their payouts.
Yet, in the sports betting industry, archaic practices still exist. Each day another industry seems to benefit from the gradual adoption of the Blockchain. Transactions can now be carried through without requiring trust in a centralized third party. iMPERIUM is here to change that.īlockchain technology hasn’t only changed the way we view the future of decentralization, the power of the blockchain has created a new way to build a 100% secure monetary platform. In these underground markets there is backstabbing, violence, book-keeping malpractice, and theft. When sports bettors are hit with a giant fee taken out of their winnings, they have no choice but to go to underground markets. In the overpriced, fee-ridden ecosystem of online sports betting platforms, we saw a change that needed to be made. Why is it bet illegally? Why isn’t there a secure way to bet on your favourite sports team, player, or event that doesn’t take 30% of your winnings? Greed.
The amount of money illegally bet each year on sports. Unfortunately, over time bettors have been plagued by faulty rules, an over-abundance of fees, and a lack of security when placing their bets which has forced them to go underground. Betting really caught on in the 1900s when the past time became more accessible to the middle and lower classes. Organized sports betting took off in the United States at the horse racing tracks that sprang up in the 1800s. People have been informally betting on sports just about as long as there have been sporting events.
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