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Zikbo’s COO on Crypto Betting and How the Company is Chasing New Frontiers
There is no shortage these days of what you can do with your cryptocurrency; you can buy, sell, spend, borrow, and much more. But one of the more exciting crypto application niches is betting. It is no secret that people love betting, given that it is a billion-dollar global industry.
But what happens when betting is given an innovative crypto touch? The answer is Zikbo, a crypto betting and sports gaming platform. The company has made waves for its unique algorithm which allows users to play fixed bets, bet against each other, bet on events, and many more.
We speak with Richard Brooks, COO of Zikbo about betting, the crypto industry, and what is next now that the company has made the leap into the betting sector.
1. What inspired the creation of Zikbo?
“There are many different offers with events and odds in the betting world now. They are difficult to understand for both a professional and a beginner. The Zikbo team has developed a platform in which a minimum of events and a fixed coefficient will be docked. Any participant in the bet will be able not only to earn, but also to quench their thirst for excitement.”
2. What would you say makes crypto betting so appealing?
“In existing bookmakers where fiat and cryptocurrencies are accepted, there are always limits on the amount of bets, and this sometimes interferes. It happens that a player is sure of success and wants to go all-in, but cannot. And the Zikbo platform provides the player with such an opportunity.
Anonymity also plays an important role. The player wants to remain anonymous at all times and in the case of deposits and withdrawals. Zikbo also provides the player with this option.”
3. Your platform is famous for its algorithm. Could you talk a bit about that?
“Yes indeed, we use a unique algorithm to balance all bets. Why we decided to use this approach, since we do not work against users, we provide a platform where users place bets against each other. How did we implement this solution? We collect all bets on both sides, then accept or make partial refunds to some users, explaining this by the fact that we are balancing the betting basket.”
4. How does Zikbo differ from other crypto betting sites?
“Existing bookmaker cryptocurrency offices are analogous to fiat offices. The only difference is that payments are accepted in crypto. At the same time, there are restrictions on the amount of the bet, as well as the calculation and withdrawal of funds takes a long time.”
5. How does Zikbo operate during periods of market volatility?
“The volatility period does not affect Zikbo in any way, since when replenishing your own account in any crypt, it is converted into an internal currency, the exchange rate of which is unchanged, and when withdrawing funds, the player can choose the preferred withdrawal currency.”
6. What’s next for the Zikbo team?
“The Zikbo team is developing several new solutions that players will love and bring a lot of fun. For example, additional sports will be offered: basketball and hockey. A coefficient of 7.2 will also be offered and this is not an express. All these tools are really new and revolutionary.”
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