ALLIN focuses on solving some of the major betting industry problems through a decentralised platform on the Cardano blockchain. The platform seeks to make the betting experience more user centric through greater engagement and interaction in a highly social environment. More importantly, the project is focused on shifting the power back to the player through their novel solution.
ALLIN is directly tackling some long standing problems in the betting industry such as the sportsbooks’ influence over the outcome of competition and lack of trust among the key stakeholders. They aim to do this by enabling users to connect with each other on their decentralised platform. This allows users to set their own odds and participate directly, effectively eliminating the house.
To participate, the player offers to bet a specific amount whose value is converted to ALLIN tokens that they can post in the social media platform of their choice. The decentralized platform then creates a Plutus smart contract on the Cardano network representing the user’s bet offer and posts it on the chosen social media site.
Another user on the same social media platform might see this post and click on it, redirecting them to the ALLIN app where they choose the bet value they wish to offer, and the first user receives a notification that a new bet has been partially filled for their offer. Upon the completion of the bet event, the smart contract receives the result from the defined oracle to determine the winner.
The Team Leading this Social Betting Revolution
The ALLIN team consists of ten professionals each with a specific skill set ranging from marketing, legal, entrepreneurship, and software development, among others. The team members are spread out across the globe, from the United States, Canada, Great Britain, India and Germany.
Together they are known as the InsideLine team and are leading a social betting revolution as outlined on their website is https://insideline.io.
The InsideLine team’s key selling point and strength lies in their diversification that allows them to harness their deep knowledge and different skills to build synergies, effectively maximising their potential. The team has mastered the art of developing high quality software by leveraging their vast experience gained from working in tech companies ranging from startups to large enterprises. They have also built a robust network and connections having worked with blockchain innovators, game developers, and fintech projects.
The team’s legal prowess leans towards the online gaming industry while they boast of team members who were in the first Plutus Pioneers class. Some of their team members have also served as Cardano stakepool operators and others have authored multiple Cardano Improvement Proposals (CIPs). Some others have versed themselves fully with the ecosystem and provide background support to those at the forefront.
The Funding Request
Based on how the sports betting scene is marred with irregularities and lack of trust, the requested sum of $55,000 USD is a modest amount, especially considering the size of the companies the team is going against. The team has specified where the funds will get allocated to help meet the targets in their proposal as follows:
- $30,000 will go to the development costs. This is where the bulk of the work is. It includes three months of working on the webapp with major features of MVP, six months of launching the webapp, and nine months of launching the mobile applications.
- $25,000 will help cater for general, corporate, legal, infrastructure, and third party vendor costs. These funds will come in handy during the twelve-month period of growing the user-base and the bet volumes as the team will need to iron out any kinks that might arise and get ready for any upcoming release.
Merging Social Betting With Decentralization
The sports betting scene has always been left to the major players to make the decisions for the users, creating an enabling environment for them to influence the results in their favour. The approach ALLIN brings to the sector will eliminate these issues and fix the system by empowering the users to control their bet offers. By combining decentralization with social betting, the industry gets the much needed freedom and users get more enjoyable experiences.
If you’d like to know more information or have questions/comments regarding ALLIN proposal, check out the link provided: https://cardano.ideascale.com/a/dtd/ALLIN-Social-Betting-Platform/352518-48088