BetBTC: Bitcoin Will Allow a Better Payment System in Asia

Bitcoin SportsbettingIn the realm of Bitcoin sports betting, there’s a lot of contenders, and Coin News Asia had the chance to speak with a representative of BetBTC on this growing market.

Coin News Asia: Can you tell us a bit on BetBTC? How long did it take you to launch your Bitcoin casino?

BetBTC: After the first “hundred burst” (mid 2013) when the bitcoin first come out on the news, it was the first we have heard of it, and since then we started studying. Short after that of course we became absolute lovers of this technology.

From the first line on the paper to the site running LIVE, we had to wait almost 1.5 years. We started it on the summer of 2013 and only finished on the 2nd of January 2015. There were many challenging features, especially because our concept is not similar to what you find on a simple sportsbook because here we operate like an exchange of bets (like betfair) where users place bets against each other, a concept not deeply explored before we came. We keep working everyday to bring new features. Our work is never over.

CNA: What can you say is the best thing about your Bitcoin casino in comparison with other crypto-related gaming sites?

B: On BetBTC user’s bets are not placed against us like they are on regular casinos / sportsbooks. This automatically brings you a ton of advantages such as: No betting limits; Less likely to exist conflict of interests between user and admin (we profit with your profit); You chose your odds, etc.. There are also many other things such as API betting and 100% anonymous betting that is not common to see on regular sportsbooks / casinos

CNA: On what platform does your sites run on?

B: You can use BetBTC on all desktop browsers. It’s also compatible on mobile versions such as Android and IOS.

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CNA: Can you share some latest innovations with BetBTC? What characteristics of your Bitcoin casino do you consider the most radical?

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B: Our latest feature was the very requested anonymous betting (bet without an account). We are always working on new things and try to develop the most requested by our users, for example, at the moment we are finishing a module that performs automatic audits on users accounts to exponentially reduce the withdrawal time. Before this we completed our users, events and betting API that was very challenging to develop and debug (from scratch).

CNA: What significant bonuses do you offer your players that are superior to the offerings of other Bitcoin casinos?
B: At the moment we are running a free campaign on Bitcointalk users can participate. They will receive 1 or 3 free mBTC just by making a post, it is an awesome way to try Betbtc without depositing a single satoshi!

CNA: What are the key differences of the experience with your Bitcoin casino and a land-based casino?

B: There are a ton of good feelings when you perform actions with bitcoin, not restricting to gambling. The most useful thing for us is that you can be completely anonymous and free to spend/bet on whatever you want being 100% sure that there is no entity supervising your actions or decisions. You are all by yourself like it should be. You and your money.

CNA: What do you think is preventing Bitcoin from going mainstream?

B: Bitcoin, as a form of payment, is lacking in terms of instant payment confirmation, without a middle service acting as counterparty, i.e., there is the need for a way of being able to be trustable to accept zero-confirmations transactions. One can argue that, with credit cards, merchants are exposed to counterparty risk, fraud risk, etc. and they are okay with it, but let’s not forget Bitcoin is about trust and a way of changing the current standards view.

CNA: Have you set sights on the Asian market in particular? How do you think Bitcoin will affect Asia?

B: Bitcoin will definitely affect the Asian market in a very good way, allowing a better and trustable payment system and wealth parking. But please take in consideration that this should, and in our opinion will happen in a global way.

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CNA: What have been the greatest accomplishments or the best times you have had while operating your business since its inception?

B: Seeing people using the platform we build from the scratch and leaving good feedback is such a priceless emotion, hours and hours of hard work being rewarded can’t be described with words. We keep seeing BetBTC growing every day, and that’s what motivates our hard work everyday.

CNA: Also, what can you say about online gambling laws and cryptocurrency legality and regulation?

B: At this moment, we cannot really evaluate whether our business is or isn’t affected by regulation as even in some countries, Bitcoin is not yet commonly accepted, regulated or even categorized for such purpose.

CNA: Do you have a Bitcoin price prediction?

B: For us, Bitcoin price prediction is not really about an exchange price, as BTC/USD or BTC/EUR, but the usages that Bitcoin can and will have in the future, i.e., 1 Bitcoin is equal to 1 Bitcoin, and the Bitcoin value only can be valued by the quantity of services that this can provide.

CNA: Finally, for those who don’t get Bitcoin, do you have any suggestions?

B: Our suggestion for those who don’t get Bitcoin is that, they should read the information provided. There is possible to start to get the usage and importance of Bitcoin. If you are interested to know more about the protocol itself, you should read the Satoshi White Paper, “Bitcoin: A Peer-to-Peer Electronic Cash System.

For those who are interested in Sports Exchange, visit us in the re-opening of the major soccer leagues at www.betbtc.co!

CNA: Thank you very much!

 

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