If you randomly pick any betting platform right now, chances are, you won’t stick with it for too long. Well, it’s not just you. Statistics show that gamblers hold more than 3 accounts on different betting platforms.
Here’s why. There is no single betting site that provides a full user experience. Well, until now. The recent launch of the Chipz betting platform — a decentralized web-based gambling platform — will give gamblers a one-of-a-kind, betting experience.
If you wish to join in on the fun, we’re going to share with you how to register as a bettor in the Chipz betting pools.
Participating in Chipz Platform
Chipz lets users in its ecosystem participate as bookmakers or as bettors/gamblers. The users must have CHPZ, an ERC-20 token that guarantees payment of fees and betting amount within the platform. CHPZ is the only currency accepted on the platform; hence, users must link their non-custodial ETH wallets to their Chipz account during the onboarding process.
There are advantages to participating as both a bookmaker or a gambler on Chipz. As a bookmaker, you can create a betting room and earn fees once the events have concluded.
As a gambler, Chipz allows you to bet inside the betting pool created by other users. What’s more, to help users make better betting decisions, Chipz rates bookmakers according to how previous participants have ranked them.
Even better, Chipz users can capitalize on the upcoming launch of the secret NFT presale that will gift lucky winners with 5k worth of NFT to use on the chipz.drive.
Types of Bookmakers According to Rank
Chipz lets users rank how bookmakers dealt with them, how chatrooms were moderated and how bookmakers set their fees as they participated in events. The 5-star ranking system is facilitated by a quick survey after each event.
Before picking a betting room, gamblers can assess the characteristics of each room based on the bookmaker’s ranking. Here are the 3 types of bookmakers on the Chipz platform.
Ranked Bookmaker
- A host of 1 betting event.
- Ranked by users.
- Gives a disclaimer stating that it is not verified.
- Users are warned that there is a risk associated with betting in this room.
Unranked Bookmaker
- Never hosted a single betting event.
- Has not been ranked by users.
- Users agree to a waiver and recuse Chipz of any loss of funds in rooms hosted by an unranked bookmaker.
Verified Bookmaker
- Must have hosted more than 20 betting events.
- Has a 4/5 star ranking.
- Low-risk warning.
Joining Chipz as a Gambler
There’s so much to be enjoyed on Chipz that you wouldn’t want to miss out on as a gambler. To join the platform, simply follow the steps as provided below:
Step 1: Register your Chipz account. Link your non-custodial wallet. Accept the terms and conditions, then create a username and password.
Step 2: Select available rooms based on your preference of rank. It is advisable to choose a friendly-sized pool to increase your earnings at the end of an event.
Step 3: Accepts the terms of betting set by the host or bookmaker.
Step 4: Wait for the results of the game. If you win, the smart contract executes and sends your share of earnings to your wallet.
Unlike with current crypto betting sites and traditional bookmakers, gamblers will not have to worry about limits on withdrawals, providing personal information, or parts of their earnings being slashed.
In a recent podcast on Action and Ambition, Chipz co-founder, Justin Lally, states that the roadmap and idea behind Chipz is a clear indication that Chipz’s decentralized ecosystem is the future of betting. That said, Chipz is more than a betting platform. The platform is integrating NFTs in its ecosystem and will let its users in on the NFT action through their chipz.drive marketplace. They are rolling out an NFT presale where lucky users will win 5k worth of NFT to use on chipz.drive.
Chipz’s team is ever-expanding as more investors and experienced blockchain think tanks get wind of the platform’s attractive future business model. Some notable people who have joined in advisory roles include Jacob Busch of the Busch beer family, Orlando Jones — an actor and creator of fandom who sits on the comic con board among other blockchain and gaming companies’ boards — and DJ Lethal from Limp Bizkit, who is performing at the Lollapalooza concert this weekend.
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