Originally Posted by
lotuspod
There's a reason for that amount of money, and it was actually ~10m raised. Even higher tbh since crypto was worth less back then. There aren't fat salaries, the main founder still drives his old Kia lol. The funds can easily be checked and major moves require some kind of explanation obviously. It's not just exchange betting either, you can bet directly against the chain in a more traditional manner too.
The project fills a lot of important needs, at the top of the list is that it prevents books from running off with the money. Your coins are yours, and yours alone as long as you're the only one who has the private key. All of the betting is completely automated across a network of thousands of dedicated servers...there's no central point of failure.
There will be new additions that bettors haven't really seen yet, such as the privacy/anonymity features. And staking your coins while not in use, which essentially earns a small interest based on how much you have. Larger amounts can run Oracles which are what processes the bets and collects the fees.
Really the only way to change the network is through its governance, which is controlled by users voting(those who own Oracles more specifically). All of the middlemen are cut out and the network handles these things faster, fairly, and more securely. There are no people or a company needed to keep it operational, it runs autonomously. Power is going back to the users, where it belongs imho.
It's difficult to speak on legality, but once this is launched it would be quite difficult to limit or shut down...look at btc and many other cryptos for example. A map of our masternodes/oracles shows pretty much a global coverage already, over 2200 of them.
I disagree that gamblers don't know tech, otherwise this huge amount of support wouldn't have built up around this project. They know what this would mean for bettors across the world, and the pressure it would put on existing sportsbooks to improve in various areas. Particularly we have a great deal of support in many Asian countries alone.