Last updated on October 4th, 2016 at 06:48 pm
Place your bets! There is a service that allows you to use BlackCoin, a proof-of-stake altcoin, to anonymously place bets on World Cup matches. The service, BlackCoin Betting, allows you to use your BlackCoin wallet to send your BlackCoin bets to a large betting pool, where your predictions on the outcomes of World Cup matches will be pitted against the predictions of many other people.
On the front page of the website is where you will find the current match in progress. It shows the national flags of the two teams playing with the words “In progress” between the two, indicating that the match is going on right now. Below the “In progress” label, there is a “details” button. Upon clicking that button, you will be taken to another page that displays all of the BlackCoin addresses that have placed bets on the current game. To the left of the addresses, the website displays one of the two national flags to indicate which team the address is betting on. On both the front page, and the details page, you can see how many bets have been placed on the game currently in progress and a projected Return on Investment (ROI) for the winning bets. The website reminds betters that the projected ROI is subject to change during the betting period depending on the amount of bets placed. The current game, at the time this article is being written, is Australia vs. Netherlands; 3,543 bets were placed on this game, and the projected ROI is 1501.2% for those that bet on Australia.
If you are a BlackCoin user, a futbol (or soccer if you prefer) fan who is watching the World Cup, and you are interested in anonymously betting on an upcoming game, you can start making your wagers on BlackCoin Betting after following just a few simple steps. Seriously, just a few steps. But if you are new to crypto-currency, and don’t have any BlackCoin, you’ll have to buy some before you can start betting with it.
Obtaining BlackCoins Using a Bitcoin Exchange
The easiest way to buy BlackCoin is by using your fiat currency (Dollars, Pounds, Yen, etc.) to purchase Bitcoin and then using those bitcoins to buy BlackCoins. You can purchase bitcoins using one of the many Bitcoin exchanges. The most popular one for a direct purchase is Coinbase, while the most popular exchange that includes a trading platform, and trading between users, is Bitstamp. Now that you have some Bitcoin, you can withdraw it from the exchange to a wallet on Cryptsy, a different type of exchange that focuses mainly on exchanging various crypto currencies (or digital currencies) for others. The selection here is large, so to make it simple, just look for the BCBTC market.
Once you have your BlackCoins, download the BlackCoin wallet here, from the BlackCoin homepage. Open the wallet, go to the “Receive Coins” tab, and copy the “Address” (a long string of numbers and upperlowercase letters) into the BlackCoin withdrawal box on Cryptsy.
So, now you have the BlackCoins you need to bet on the World Cup! Easy enough, right? Here’s how you can use those BlackCoins to place your bets with BlackCoin Betting:
How to Bet on the World Cup with BlackCoin Betting
Step 1: Place your bet
At the top of the homepage at BlackCoin Betting, the user is notified that there are no complicated procedures involved in placing a bet. You do not even have to make and register an account with the website. You simply send your BlackCoins to the correct address, which will be displayed on the homepage where the current and upcoming games are located. The only requirement placed on betting by BlackCoin Betting is that you must bet at least 10BC and you can bet no more than 1000BC. If you bet below the 10BC minimum or above the 1000BC maximum, your coins will automatically be returned to you, minus a 5% fee. You must place your bet during the betting period. There will be a timer on the screen, you will not be able to bet before the timer starts or after it hits zero.
WARNING!! If you are going to place a bet using BlackCoin Betting, make sure you use a desktop wallet to send your coins to the betting address. Do not use an online wallet or an exchange account. As BlackCoin Betting does not support accounts, the only thing connecting you to your money is your BlackCoin address. BlackCoin Betting warns you on their FAQ page that if you send coins from a web wallet or directly from an exchange, your winnings will get sent to the wallet provider or to the exchange, but will likely not make it to your account. Therefore, it is very important that you use a desktop wallet to ensure that your money will not get lost.
Enjoy the game! After you have placed your bet, all you have to do is watch the game and hope that your team wins. Watch with your friends, family, or watch it alone. However you do it, remember to have fun! If your team loses, then better luck next time. There are many games lined up, and plenty of opportunity to watch and “play”. However, if your team wins, move on to step 3.
Step 3: What happens if I win?
Once the bets have been placed, all the BlackCoins get put into a single prize pot. BlackCoin Betting takes 5% of the total pot to help fund development and to support the website in general. However, BlackCoin guarantees that winners will get, at least, their money back plus a percentage of the total pot, which is determined by the amount of betters in the pot. Payouts will be sent out to the winners as soon as the game ends. You may not receive your winnings instantly, this is because BlackCoin manually checks the payouts to make sure no faulty payments are sent out to the winners. And that’s it! Congratulations, you won your bet! Now, you can start the betting process over by making a bet on the next game, or you can just keep the money.
Coin Brief in no way encourages or endorses gambling. We merely wanted to make this information available to anyone who is already looking for World Cup betting services. You are an individual, you are responsible for your own decisions. Win or lose, bet at your own risk.