Why we bet on blockchain, interview with Paruyr Shahbazyan of Azuro

Online gambling, which has been popular since its inception, has experienced a dramatic explosion after the pandemic began. When outdoor recreation and sports events are closed, people who desire entertainment turn to online entertainment.Online gambling is one of the beneficiaries of this new trend Department has grown **From 465.76 billion U.S. dollars in 2020 to 516.03 billion U.S. dollars in 2021, the market is expected to climb to 674.7 billion U.S. dollars in 2025.

However, ask any experienced online game player or bettor, and they may tell you that online betting has brought them many problems and frustrations. These include the lack of transparency and the volatility of fixed betting odds, delays in betting settlement, and even winning bettors restricting their accounts due to the success they enjoy. For these reasons alone, it makes sense to transfer bets to the blockchain.

Blockchain uses smart contracts and sometimes oracles to automate the entire betting process and capital flow, so that the funnel is completely unmanageable and transparent.

This means that users pay automatically, which means they cannot restrict their accounts because they win too much, and it also means that their personal and bank data will not be exposed to hackers. Blockchain automatically verifies transmissions and activities and saves this data on thousands of nodes around the world, leaving hackers with limited opportunities to steal data from a single company server.

Since users use their wallet address instead of their credit card to deposit, this keeps the entire betting process anonymous and also means that users do not need to skip the due diligence process when entering the job. KYC in online casinos is a process that consumes a lot of manpower and energy. It also sees that a large number of registrants withdraw even before the process is completed due to its complexity. Without KYC, user credit card data and personal data storage, the casino has no chance to manipulate odds or delay withdrawals, and you have a winning combination.

We talked with co-founder and CEO Paruyr Shahbazyan Aoro, A blockchain-based betting protocol that can solve all the problems of centralized betting. He best describes the benefits of blockchain in this situation.

“The use of blockchain as the gambling infrastructure will add more value and fairness to the gaming industry. First, the blockchain brings complete transparency, and all transactions and participants are visible. As mentioned earlier, this It’s great for players, but not only that! It also solves other problems in the traditional betting industry, such as “affiliated shaving.” Centralized betting operators usually stop paying commissions to their partners (called affiliates). These Partners recommend new bettors to the bookmaker. This phenomenon is called “affiliated company shaving.” It happens basically because of what happened to the bookmaker by the affiliated company and whether the players of the bookmaker they mentioned Visibility for activity etc. is 0.”

“The blockchain is solving this problem. The bettor is represented by an encrypted address. You can easily check whether a given address interacts with Azuro’s smart contract. In addition, the affiliate commission is set in the smart contract and cannot be changed. This means Affiliated companies will receive guaranteed lifetime commissions for all bettors activities they provide. No more “affiliated shaves”!”

“In addition, the blockchain allows bets to be placed without the player having to hand over the money to a third party, which can use the money as they wish. This is possible because on the blockchain, bets are placed in a smart contract Of bettors’ funds (automatically pay the bonus immediately). On the contrary-the current (and no blockchain) player’s money is deposited into the bookmaker, and the bookmaker decides when and whether to pay the bonus… which usually will Cause delay or refusal to pay.”

Ask: Can you learn more about how Azuro helps bettors and gaming sites?

A: Users can place bets with Azuro in a trust-free manner. No one can influence how Azuro’s smart contract will be resolved. In addition, we are democratizing the entire gaming business. As we all know, the gaming industry is a capital and technology-intensive industry with high barriers to entry. Through Azuro, we have broken down the role of gaming operators into several smaller roles, so that anyone who wants to benefit from liquidity and data provision, front-end development and operations, and decentralized governance can use it. This means sharing more value with more participants in the ecosystem. In addition, we have been committed to fulfilling the social responsibilities unique to our project from the very beginning.

Ask: A major benefit of blockchain projects like Azuro is that they can really solve problems. What problems does Azuro aim to solve?

A: First of all, Azuro is a global decentralized betting protocol that uses smart contracts to bring complete transparency to the betting process, while providing a classic betting experience with rich markets and liquidity.

The core goal is to provide bettors with a trustless alternative to betting, which is comparable to the experience they get with traditional betting companies. When we do this, we eliminate the issues of trust and transparency between players and operators that are prevalent today.

Azuro uses blockchain technology to realize the decentralization and democratization of the gaming business.

Azuro decomposes the role of betting companies into several smaller roles, and anyone can benefit from liquidity provision, front-end management, data provision, and decentralized governance.

This means sharing more value with more participants in the ecosystem. In addition, we have been committed to fulfilling the social responsibilities unique to our project from the very beginning.

Q: From your own experience, it seems that you entered this industry with a very personal and real frustration. Can you tell us this?

Answer: Yes. For the past 10 years, I have been a professional sports arbitrage player. Therefore, – I can assure you that the gaming industry lacks fairness and transparency! The reason is that the system is built on negative incentives, which puts bookmakers and players against each other. Players and gaming operators do not trust each other, smart players are blocked, and so on. I was banned by many bookmakers, and I couldn’t get bonuses from many of them. These issues have created a niche market for my own business-betting company ratings, which I started about 10 years ago, almost as an act of revenge, because of my experience as a player…

Ask: You have created a truly landmark site, Bookmaker Ratings, as an intermediary between players and betting sites. How does this work?

A: I started Bookmaker rating, This is the largest online sports betting media in Eastern Europe. The business focuses on one simple thing: the lack of trust between players and bookmakers. Therefore, we are objective in rating, mainly by acting as an intermediary, resolving disputes between the two parties, and doing our best to help players. Over the years, we have managed to return more than $12 million to players, which has ensured that we have earned the trust of people. All of this is possible because we have a deep understanding of the players’ problems.

Ask: How do you see the future of blockchain gamification?

A: We can see how other traditional industries such as finance, data storage, content generation, etc. have been promoted and enhanced through blockchain decentralization. As far as gambling is concerned, the traditional gambling market we now have (including billions of gambling players) may take some time to adapt and migrate to the blockchain.

Nevertheless-the full power of decentralization will completely disrupt the gaming industry and provide everyone with transparent and efficient gaming. Initially, the largest part of users will be traditional bettors who are more tech-savvy and have tried or are willing to try blockchain applications and are enjoying new ways to benefit from blockchain betting (such as agriculture, liquidity provision and pledge , This will become possible when the mainnet of the Azuro protocol goes live.

Ask: Entering 2022, what other topics should we pay attention to?

A: I want to mention NFTs and the ways they may affect gambling. In my opinion, NFT technology allows for real innovation and greatly enriches the gaming experience in a positive way. We create opportunities for the secondary market (betting on cash or discounted purchases, making unforgettable bets as collectibles) and many fascinating gamifications to turn the usual betting experience into something more attractive and exciting.

Therefore, every bet on Azuro is an NFT, which has two functions. Until the moment the bet is settled, it is a financial NFT. It can be traded on our market. Suppose you have placed a bet, but for whatever reason, you decide that you do not want to place a bet (you want to cash it out before the game starts). You can sell it on our market. Buyers get your bet with a small discount, thus gaining an advantage in terms of price and probability of outcome.

After the bet is settled, it no longer has the value as a financial NFT, but it still has value! Because for bettors, the most popular forms of fun are either crazy wins or some very frustrating losses. Both types of stories are actively shared and discussed in the gaming community. Our NFT is 100% proof of these stories. I often refer to Maradona’s “Hand of God” moments to describe the historical value of NFT betting. Imagine someone losing or winning a lot of money because of that crazy goal. I think such NFTs have great value as collectibles.

In addition, users can get NFT rewards for various achievements when betting on Azuro (such as the longest winning line, awkward defeat, highest winning odds, etc.-the possibilities are almost unlimited).

The last sentence

Uncrackable, blameless, no third-party intervention, tamper-proof, it is clear that the blockchain proposes a radical change in the way online betting is carried out, and it seems that bettors will agree. Blockchain betting In the third quarter alone, independent active wallets grew by 121% to more than 754,000 unique users, accounting for nearly 50% of the entire industry’s activity, and with this monthly growth, it showed no signs of slowing down.

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