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BlitzPredict is an aggregator of blockchain prediction markets and sportsbooks, ensuring users will always get the best odds available in the marketplace. In addition to the aggregator, BlitzPredict will offer a suite of smart contract tools providing function and liquidity to its users. BlitzPredict's decentralized liquidity reserve will guarantee that users can always get paid immediately upon conclusion of an event, no more waiting days or weeks for a site to cash them out.
BlitzPredict's users can set up smart contracts to automatically wager when certain criteria are met. E.g. the current best line on the Patriots is -7 -110. A user can set up a smart contract with the function of “bet 1 ETH on Patriots -6.5 -110 or better.” If the line reaches -6.5 anywhere in the marketplace, the contract will automatically execute.
BlitzPredict will incentivize sports analytics experts to contribute to the platform and work with them to create powerful predictive models. Models will be tested publicly and predictions must be made using actual odds available in the marketplace at that time. BlitzPredict will use a portion of its holdings to sponsor tournaments for its users to enter free-of-charge. BlitzPredict will provide tools for syndicates to use throughout the marketplace and allow users to back syndicates for a share of the profits.
5% Seed Round15% Pre-ICO 15% ICO20% Company18% Team9% Future Hires8% Strategic Partners5% Advisors5% Liquidity Reserve
"One of the competitors in blockchain prediction markets will likely be arbitrage syndicates – groups that look to buy up contracts at a 1-2% discount to provide liquidity to customers that don’t want to wait. The notion of arbitrage is foreign to most bettors, and BlitzPredict plans to offer a simpler mechanism for the users to achieve liquidity. There is no shortage of touts and affiliate sites in the sports betting space. There is no real accountability - touts can misstate their records and some affiliate sites manipulate data to create inaccurate records.
In a fractured market rife with misleading statements and outright lies by “experts,” BlitzPredict will bring accountability to sports betting with time-stamped predictions against real market odds. Requiring experts to stake BPZ in order to submit their picks or models should help guard against fraud and abuse. Most traditional affiliate sites, like Covers and Sports Insights, tend to have web-based, antiquated platforms. They have communities of contributors but no way for them to get rewarded. Aggregators like OddsChecker have a regional focus and do not include blockchain platforms.
Ultimately, success will be determined by the strength of the platform, network, predictive models, and the diversity of the markets that team addresses. It’s important to note that prediction markets like Gnosis and Augur, as well as sportsbooks and other betting vendors, are not competitors. The goal is to drive business to these platforms and open them up to users who may not otherwise use them. As these companies succeed, so will BlitzPredict. The team plans to collaborate with these companies with the common goal of bringing blockchain technology to the masses."
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