Gambling on sports goes back as far as the inception of competitive sports themselves.
However, this age-old hobby taken up by sports enthusiasts hasn’t evolved in some time. With the rise of blockchain, there is no better time than to try a fresh coat of paint on the tradition of betting on your favourite team.
With the blockchain integration, betting will be significantly improved as all bets and earning will be recorded on a digital ledger, available for public viewing, all without the need for an intermediary. This more transparent form of gambling will bring peace of mind to those placing the bet as they can easily monitor the entire process and not have to worry about shady things going on in the background.
Chipz is a sports gambling platform that allows users to bet on different sporting events and other miscellaneous events within betting rooms created by other users, with zero interference from intermediaries.
The platform is entirely web-based, and at launch, will allow anyone to use the USDC stablecoin to participate in betting. Also, bet payments are guaranteed thanks to smart contracts on the Ethereum blockchain using Solidity’s APK.
Chipz Offers Unique Betting Capabilities at a Fraction of the Cost
With the Chipz decentralized gambling platform, users can book and place bets on predictive pairs created by independent bookmakers.
The platform charges a small service fee for creating a book and keeps a small portion of the winning payouts. The profits made from the platform are distributed to CHPZ holders and the team behind the project to ensure it can continue to grow and improve.
To be a part of the platform, users simply connect their Ethereum non-custodial wallets to it – from there, they can place bets through the blockchain.
However, to create, host, or be a dealer in a betting room, users need to have CHPZ tokens. The results of the bets are reported to APIs scanned by the Chipz platform, and then smart contracts distribute the earnings.
Not only can you bet on sports, but a myriad of other events, such as political outcomes, video game-related content, and much more. The platform allows you to make about any wager imaginable, so long as bets are matched with another user through wallets.
Unlike other sportsbooks that charge a weekly fee for bookmaking, Chipz only charges an annual fee of $60, with no limits on how many bets you can make.
The Benefits of the CHPZ Token
The token that powers the Chipz platform, CHPZ is an ERC 20 utility token and is listed
to trade on Binance Smart Chain (BSC), Uniswap, Pancake Swap, and will be added to many other platforms by the end of the year.
The advantage of the CHPZ token is that it allows users to speculate the token’s value while a bet is live. The Chipz platform also offers a 15% APY staking reward while bets are active.
More About the Team Behind Chipz
The digital asset that powers Chipz, the CHPZ token, is the Costa Rican-based cryptocurrency CHPZ. The advisory board consists of Jacob Busch of the Anheuser Busch family, Golden Knight’s owner Gavin Maloof, NFL Star Todd Duckett, and Platinum Producer DJ Lethal.
The executive team includes Tezatopia, a hit NFT game, developer Joab Garza, who is CTO of the project, and Bitcoin Foundation Member, Justin Lally, Venture Capitalist and CMO of Chipz.
Chipz will provide an innovative way for users to bet. The platform’s additional features incentivize users to place more bets while also doing massive giveaways.
Chipz will launch officially in December and will be launching their NFT video game, chipzdrive, in Q1 2022.