Statistica has predicted that the online sports betting market will be worth a whopping $56.7 billion by 2018. This is the same amount as Costa Rica’s entire GDP.
Since Intertops launched the first online sportsbook just over 20 years ago in 1996, we’ve witnessed the market grow rapidly.
Yet despite the advances in technology over this time, finding the best lines is still a challenge.
Setting up accounts at multiple sportsbooks to find the best lines is smart practice. However, this is time-consuming, monotonous, and inefficient. For professional bettors who have lots of time to spare, this is less likely to be a problem. However, for people who are trying to take part more casually, it can feel overwhelming.
Even worse, once users deposit their money to make a bet, it is stuck with a third-party. Unfortunately, this means peoples funds are being tied up for a long period of time, and they lose the chance to make interest on their money.
But what if there was a way to simplify the entire process and save money?
The Problem with Sports Analytics Today
Right now, sports analytics is incredibly fragmented.
Sportsbooks, betting syndicates, and sports teams all have their own internal analytics departments, and information kept strictly private.
Instead of cooperating, different analytics departments from all over the world are directly competing to gain access to the same information and ultimately reach the same goal.
Progress is substantially hindered by the fact that the salaries offered for sports analytics jobs are generally well below market rate. As a result, there is no community where experts and enthusiasts can participate and be sufficiently rewarded for their contributions.
Is There a Way to Solve This Problem?
Overcoming this issue is no easy feat. It has been prevalent for many years, and several companies have tried to come up with a solution.
Many startups have set their sights on putting an end to scamming and stealing in the betting industry through the use of Ethereum smart contracts, but few have set out to solve the sports analytics problem.
However, BlitzPredict might have found a solution.
This platform is an aggregator of sportsbooks and prediction markets. It is specially designed to streamline the entire betting process.
It essentially acts like a stock market ticker by constantly refreshing the betting odds, ensuring that users will always have access to the best odds available for a given bet.
To do this, the platform’s aggregator will constantly pull out updated lines from a variety of sportsbooks and prediction markets. They will then deliver the information to users in a streamlined format.
This will vastly speed up the process. Instead of users having to look up the odds from different sportsbooks and compare them, the results from a variety of different websites will be combined into a single average. Users can then use this average to make an informed decision.
This aggregator will be extremely customizable. Its main premise is to ensure that users always get the best line available for an event.
In addition to helping to streamline the process for betters, the platform also incentivizes sports analytics enthusiasts and experts to share their models and picks, and also to make contributions to community projects.
To gain access to experts’ information, users will be required to pay BlitzPredict tokens (BPZ). In exchange for providing users with access to this information, experts will earn BPZ.
Experts who make more accurate predictions will earn more tokens and recognition than those who make inaccurate predictions. Over time, the market will reward accurate, quality predictions and penalize inaccurate predictions.
What Does the Future of the Betting Industry Look Like?
Sports betting used to have a sleazy reputation. However, this is slowly changing. More and more adults are becoming aware of the opportunities available online – and sports betting is becoming more accepted.
Similarly, sports are becoming increasingly popular amongst casual fans. Large online communities have formed to allow people to discuss related news, and many of these websites also advertise gambling to readers to help increase awareness.
If platforms like BlitzPredict succeed in making betting more streamlined and accessible to users, it is very likely that the trend will catch on even further.
The blockchain isn’t just a change in the way we use technology. It’s a complete paradigm shift…and this is still just the beginning.