There is no shortage these days of what you can do with your cryptocurrency. you can buy, sell, spend, borrow and more. But one of the most exciting niches of crypto applications is betting. It’s no secret that people love gambling, given that it’s a billion-dollar global industry.
But what happens when betting is given an innovative cryptographic twist? The answer is Zikbo, a crypto betting and sports gaming platform. The company has been making waves for its unique algorithm that allows users to play fixed bets, bet against each other, bet on events and more.
We talk to Richard Brooks, COO of Zikbo about betting, the crypto industry and what’s next now that the company has made the leap into betting.
1. What inspired the creation of Zikbo?
“There are many different events and odds offers in the betting world now. They are difficult to understand for both a professional and a beginner. The Zikbo team has developed a platform where minimal events and a fixed rate will be placed. Any participant in the bet will be able not only to win, but also to quench his thirst for excitement.”
2. What would you say makes crypto betting so attractive?
“In existing bookmakers where fiat and cryptocurrencies are accepted, there are always limits on the amount of bets and this sometimes interferes. It happens that a player is sure of success and wants to go all-in, but cannot. And the Zikbo platform provides the player with such an opportunity.
Anonymity also plays an important role. The player wants to remain anonymous at all times and in case of deposits and withdrawals. Zikbo also provides the player with this option.”
3. Your platform is famous for its algorithm. Could you talk a little bit about that?
“Yes, indeed, we use a unique algorithm to balance all bets. Why we decided to use this approach, as we do not work against users, we provide a platform where users place bets against each other. How did we implement this solution? We collect all bets from both sides, then accept or give some refunds to some users, explaining this by the fact that we balance the betting basket.”
4. How is Zikbo different from other crypto betting sites?
“Existing cryptocurrency betting offices are similar to fiat offices. The only difference is that payments are accepted in crypto. At the same time, there are restrictions on the amount of the bet, as well as the calculation and withdrawal of money takes a long time.
5. How does Zikbo work during times of market volatility?
“The period of instability does not affect Zikbo in any way, as when replenishing your account in any crypto, it is converted into an internal currency, the exchange rate of which is unchanged, and when withdrawing funds, the player can choose the preferred withdrawal currency .”
6. What’s next for the Zikbo team?
“The Zikbo team is developing many new solutions that players will love and bring a lot of fun. For example, additional sports will be offered: basketball and hockey. A factor of 7.2 will also be offered and this is not explicit. All these tools are really new and revolutionary.”