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Chancer: Blockchain platform seeks to disrupt the betting industry

on Jun 9, 2023
  • The sports betting and prediction market is growing rapidly.
  • Analysts believe that blockchain technology can play a role in the sector.
  • Chancer, an upcoming project hopes to be the leading player in the sector.

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Blockchain technology has proven that it is possible to disrupt various industries like art and finance. In just a few years, products like Uniswap and PancakeSwap have changed how people trade digital assets while NFT platforms like OpenSea and Rarible have enabled people to buy and store non-fungible tokens (NFTs). 

The sports and prediction market is also ripe for disruption. Chancer, a new company, is seeking to disrupt the industry by creating a platform where people can bet on live matches. Users in the platform can also create their own markets that are secured using the blockchain. 

Fast growing industry

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The sports betting industry is growing rapidly around the world as most people deal with the cost of living crisis. Most of this growth is happening in the US, where sports betting was until recently illegal. As a result, recent studies show that the sector is growing at a fast pace. A study showed that the industry was valued at $83 billion in 2022 and that it will have a CAGR rate of 10% by 2030.

As a result, companies in the industry are thriving. Publicly-traded companies like Penn National, DraftKings, and Flutter Entertainment are each valued at billions of dollars. They are all having double-digit growth rate and analysts believe that they will be some of the most profitable companies in the world.

The same growth, albeit at a slower pace, is happening in other countries. Growth rates in these countries is a bit slower because they embraced sports betting many years earlier. 

How Chancer works

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Chancer hopes to disrupt the betting industry by creating a platform where users globally can place bets and create their own markets. They will be able to do this using their mobile and web platforms. This means that, in addition to sport bets, these users will be able to create markets that are verifiable. For example, if there is an election, a user will be able to create a market for such events.

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Most importantly, the platform will have a social angle into it since it will allow friends to participate on these activities. Chancer will be powered by the blockchain technology, which is good since it creates transparency. The developers have selected the BNB Chain as their preferred blockchain. Started by Binance, the platform also hosts popular dApps like Hooked, PancakeSwap, and Stargate.

Chancer’s upcoming token sale

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Chancer’s platform has not been launched yet. As part of the roadmap, the first stage of the platform will be to launch a token sale, where they are seeking to raise $15 million. The token sale will happen in 12 stages. At the end of each phase, the price of the token will be raised gradually. As a result, it users who buy early will be at an advantage.

You can find out more about Chancer’s upcoming token sale here.

Chancer’s token will have several utilities. First, at some point, the project will be transformed into a decentralized autonomous organization (DAO). In this case, these holders will be able to submit proposals and vote for them, as we wrote here.

Second, $CHANCER crypto holders will be able to create markets in the ecosystem and make some money when people trade them. Further, winners in the ecosystem will be rewarded using the Chancer token.

It is still early to determine whether Chancer will be a successful project or not. In the past, we have seen many ambitious projects come and go. However, it is possible that Chancer will be the next big thing in the industry. As a result, since the token will go for about $0.015, one can risk a few dollars and wait and see.


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