In one of the most thrilling scenes of the movie Casino Royale, James Bond looks down at his ‘Texas Hold’em’ board game with a restrained facial expression. The player to his left goes all in for $6 million, another player calls the bet adding to the already tense atmosphere. Agent 007 is wondering what to do with the $40 million in his pocket- the ever present dilemma gamblers are faced with (although, maybe not with $40 million). There is no argument that gambling gratifies players with immediate satisfaction when they win their bets; the main problem arises when a player loses. The greed associated with gambling has the ability to ruin anyone’s life. Imagine losing your entire life savings in the matter of seconds because the guy next to you miraculously got a Royal Flush? And still, 15% of Americans gamble at least once a week with no sign of this statistic slowing down.
herosphere, the developer of the popular online esports prediction platform, has decided to be bold and follow the advice of the well known phrase, “If you can’t beat them, join them.” herosphere hopes to disrupt the gambling world, with the creation of the HEROcoin. The ethereum based HEROcoin allows gamblers to place their bets against their friends, cutting out any greedy middlemen and giving players a much needed break from competing against the ominous house. herosphere will raise money by means of an ICO on September 14, when they will also be issuing their coin.
The dubious arena of online gambling is unknown. Users are most often not aware of how their payout rates were calculated, while they are also very likely to lose at least some money. With gambling, how much you win or lose can be loosely predictable for some, completely unknown for others. herosphere’s unique features leverages the faults of online gambling and challenges the anonymity of “the House.” Users are competing against other members of the community, meaning all money stays with the players themselves. So, even if you do lose, your losses go to other HEROcoin holders, not some greedy third party middleman, providing some relief to users.
One of the most unique features of the HEROcoin is that just by holding HERO in reserve, users will earn more coins without participating in a pooling event. Whenever users enter a contest there is a pot. For example, if 5 people compete against each other with a buy-in of 20 HERO, then there is a pot of 100 coins. The smart contract behind HERO automatically takes a minimum of 1% of the initial pot and gives it to the community. In this case, that 1% means that 1 HERO is spread across all HERO holders. The more HERO a user is holding, the higher share percentage from the 1% he or she will receive. Users can sleep (a little) better at night knowing that even if they lost big on the most recent FIFA match, they are still earning some money each time a new pooling event is created on the herosphere platform.
herosphere has added many notable names to their advisory board, including Hubertus Thonhauser. Thonhauser invested in herosphere “because of its vision to solve a fundamental problem in the betting industry today, by cutting out middlemen and toll-takers like bookmakers, and giving more power to the customer.” He added that compared to online betting companies, herosphere “provides an online peer to peer prediction platform secured by the immutable ethereum blockchain technology,” an important distinction as online gambling websites cannot guarantee the same transparency and security the blockchain can.
Of course, there is a range of better ways you can invest your money in besides buying digital currency. Why purchase HEROcoin when you can use the same money to buy insurance, donate to charities, travel around the world, and/or even just save up for retirement? The answer is pretty simple. If you are sick of greedy casinos swindling you out of every last penny, herosphere is the solution. Using Blockchain smart contracts enables herosphere to provide secure and reliable processing so transactions are publicly verifiable, viewable, and resistant to counterfeit. herosphere, with its transparent platform and tangible incentives, solves the fundamental problem of the betting world, as we know it today.