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Revolutionizing Sports Betting by Harnessing the Power of Blockchain Technology
Which sporting industry is enjoying explosive growth, both on and off the field? Would you be willing to place a wager on your guess? If you said, ‘Yes’, to that proposition, you aren’t alone. According to a market research report from Technavio, the sports betting market occupies the largest share in the overall gambling market, accounting for around 40 percent of gambling revenue generation around the globe (http://nnw.fm/4lcAh). Annual revenues are in the region of $400 billion each year, according to the report, but it is also well-known that some critics are concerned about betting’s purported lack of security and transparency. Companies willing to forge a new path and create innovations in this highly lucrative industry are betting blockchain technology has the winning answer for critics and players alike. Victory Square Technologies, Inc. (CSE: VST) (OTC: VSQTF) (FWB: 6F6) (VSQTF Profile) is joining a growing list of blockchain technology companies willing to put money on the table, such as Riot Blockchain, Inc. (NASDAQ: RIOT), NetCentsTech (CSE: NC), BTL Group (TSXV: BTL) (OTC: BTLLF), and HIVE Blockchain Technologies Ltd., (formerly Leeta Gold Corp.) (OTC: PRELF).
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