After last week's gifcoin there is yet another Blockchain Project (ICO) that will target the Sports Betting Market. This one is named Graz and it seems to be located in Russia/Ukraine. I once again took a close look at it and went through the entire Whitepaper
GRZ is Ethereum based token that will need to be used to take bets on the betting exchange they are planning to make. They will pretty much create markets to bet on and use smart contracts to match players who want to take opposing sides and charge 1% fee. Players will be able to set their own odds similar to existing exchanges like Betfair and they even allow players to create their own markets which they first have to approve before it gets onto their platform.
Positives
- Their focus is fully on Sports Betting.
- The basic idea they have on how it should be done on a blockchain is pretty much the Betfair model but with lower fees which is a good thing.
Negatives
- I don't really get the name Graz, it feels very random and has nothing to do with betting whatsoever unlike projects like Wagerr and bookie.exchange.
- The team is almost entirely from Russia and Ukraine which are countries that for as far as i know have nothing major in the sports betting world right now.
- Their website is called graz-ico.com which somewhat shouts out "cash grab".
- They are late to the party as it seems they still have to start developing the product and have in their roadmap December 2018 as date to test and launch the platform.
- They are still a company that needs to make profit as they charge 1% fee and will act as a centralised oracle to settle the smart contracts.
Questionmarks
- Nothing is said about the legal aspect of this project
- Are people going to be willing to use their token to bet?
This can only be done if many people are using the platform which is something really hard to pull off especially when there is no mechanic to prevent the price from dropping. - Can they make the product and when ?
Usually these things get delayed along the way. - Nothing is said about the gas price as they will be using the Ethereum network. I'm not sure if it's included in the 1% fee.
Conclusion
I personally have no intrest in this project and won't be using it myself any time soon even though I see what they aim to do as a fair attempt. I would say the risk is not worth the potential rewards just like most ICOs.
List of Available Blockchain Sports Betting Projects
(The ones I look to try out myself are on top)
| Project | Type | Website |
|---|---|---|
| Wagerr | Sports Betting | wagerr.com |
| Bookie | Sports Betting Exchange | bookie.exchange |
| (^Peerplays) | (^Bookie Platform) | (^Peerplays) |
| Blitzpredict | Betting Broker | blitzpredict.io |
| Augur | Prediction Markets | augur.net |
| Gnosis | Prediction Markets | gnosis.pm |
| Stox | Prediction Markets | stox.com |
| decent.bet | Sports Betting - Casino | decent.bet |
| Fansunite | Sports Betting | fansunite.io |
| Graz | Sports Betting Exchange | graz-ico.com |
| Betrium | Sports Betting | betrium.co |
| Xwin Cryptobet | Sports Betting & Casino | xwin.io |
| Betterbetting | Sports Betting Exchange | Betterbetting.org |
| Gifcoin | ICO Book Profit Share | gifcoin.io |
| Hero | esports Betting | herocoin.io |
| Gimli | esports Betting | gimli.io |
| Unicoingold | esports Betting | unikoingold.com |
| Goal Bonanza *** | Correct Score Lottery | goalbonanza.com |
| Betmaster *** | Sports Betting | betmaster.io |
| *** Scam Alert |
Previous Reviews
Please let me know if there are other projects I overlooked!