Bettium, the first Peer to Peer platform based on Blockchain, has arrived to become a point of reference in the sector and in the favorite place of players, for its transparency and professionalism.
Today we bring an interview in exclusive with Nathan Hunt, Bettium’s CEO that goes to speak about the Project in the one that will tell us how this Project has arisen and up to where it wants to come with.
Nathan Hunt Interview:
Before we dive into anything too deep, could you share how you first became involved with AI-based systems and the Blockchain technology?
I started following the blockchain industry in 2015-16 and immediately recognized the disruptive potential of the technology. This movement has many similarities to the dotcom boom of the 1990s and early 2000s – a technology changing the world in ways that could not even be conceived 10 years earlier. Like dotcom, we are seeing explosive development which will likely be followed by a temporary downturn, finally synthesizing into a stable market as the technology becomes firmly integrated into everyday lives. There was never a question of whether I would get involved or not – only when and with whom. Several factors contributed to the final choice, primarily the impressive architecture of the Bettium system which, given all its features, will revolutionize the way everyday people enjoy sports. I was also impressed by Bettium CTO Alexander Kamilov and his enthusiasm. The unification of blockchain and AI makes perfect sense in the field of betting; AI allows amateurs to bet like professionals and to be compensated accordingly. This dimension it unique to Bettium and forms our competitive advantage – neither traditional bookmakers nor other blockchain betting services can boast the functionality built into the Bettium universe.
Bettium aims to disrupt sports betting. What is the biggest problem with the industry today and where does Bettium fit in? Tell us about the origins of your company.
Several of our team members and advisors have been involved with betting in the past, and not always with positive results! Problems with current platforms include lack of transparency, high (and often well-hidden) fees, dependence on banks and third-party payment facilitators that severely limit amounts paid in or out, risk of non-payment from weak operators, potential for fraud, and vulnerability to hacking. Taken together, these factors have done nothing to improve the perception of the betting industry and have in fact hindered growth at a time when expansion should be rampant with the advent of e-sports. We are using blockchain to mitigate or eliminate these problems, providing peer-to-peer bettors with a safe and transparent eco-system in which they can enjoy the thrill of betting while interacting directly with each other, without a bookmaker or middleman. Blockchain transactions are by their nature P2P so we also eliminate intermediaries like banks and payment systems. We remove superfluous (“nanny state”) betting limits and ensure that all transactions are set in stone using irrevocable smart contracts. Our usage fees our minimal, on a full order lower than those of old-style betting sites, a factor which will propel users to our platform away from traditional bookmakers.
How exactly does Bettium and its AI-powered analytical platform help to level the playing field between experts and amateur bettors?
This is one of our most exciting features! If a recreational bettor, an amateur, decides to place a wager using a traditional service, he will lack the professional tools needed to process all the relevant information associated with a given event. He will generally choose a winner based on random chance and end up with results no better than a “black or red” gambler at the roulette table. While he may win from time to time, 90% of sports bettors lose money over the long term. Players naturally become frustrated or disillusioned with such results, and often end up leaving the field entirely. It is hard for these people to believe that there are experts who make successful, lucrative bets on a regular basis with tools of their own making – tools not publicly accessible. These professionals utilize Big Data and AI algorithms, just as Bettium will, to develop a reliable, stable betting strategy that produces real profit over the long term. They will often sell their services as experts for a handsome profit to the general public; we will provide the same expertise at a fraction of the cost. Bettium features deep data analysis, a comprehensive databank, and a powerful, self-learning AI assistant named “Merlin”, who will access Big Data, process it, digest it into understandable chunks and provide reliable recommendations for specific sporting bets. Numerous conditions can be considered at the bettor’s request: how well certain teams do against other opponents, in certain weather conditions, with or without certain key players, against certain types of offenses or defenses – the list is endless. Even the least experienced bettors will find they can make intelligent and profitable bets based on real data and detailed analysis, rather than a coin toss.
Tell us a bit about how the blockchain fits into your vision. Can you provide any details on what exactly sets your implementation apart from numerous other ‘generic’ blockchain startups?
Blockchain provides key advantages to our project – low fees, instanteous transactions, full transparency and 100% reliability of data. It should be noted that our blockchain serves a specific and relevant purpose, not “blockchain for the sake of “blockchain”, as with so many startups today. And our market already exists – the worldwide gaming market is over $3 trillion annually – so our only task is to attract existing users to a stronger, safer, more efficient and more reliable platform. Some of our competitors have certain aspects of the system (blockchain transactions, P2P betting), but none have all the features. Bettium combines AI assistants, algorithmic betting support, social betting, trust account management, access to experts and forecasts, a ranking system, bet mimicking, e-sporting sponsorship, and AI League into a single ultra-functional platform that will radically transform the way common people relate to sports today. The system’s analytical potential may even allow us to expand beyond sports in the future – but that’s a story for another day!
What excites you most about the project from the standpoint of technology?
I’d have to say the combination of AI and algorithmic betting. I’m looking forward to seeing how a self-educating AI avatar can compete with real humans, enjoy success over the long run, and reach the point when it can indefinitely maintain a positive bankroll with minimal user interference. Imagine setting up a basic account with a small investment, putting it on “auto-pilot” using AI, and watching your funds grow day-in, day-out, week-in, week-out. That’s the functionality we will bring to the industry. With our system every amateur is a professional – and Bettium is the key!