Sensing business opportunity to tap Indians’ interest in sports especially cricket, EarnU, the leading fantasy sports platform sets foot in India just prior to Indian Premier League (IPL) 2022. The founder of the platform entrepreneur Paul Rogash envisioned a bright future in the fusion of crypto and fantasy sports.
EarnU is a sports, esports & crypto betting platform by BetU ICO Corp. It is secured by smart contracts. The gaming platform is a play-to-earn app and allows users to earn rewards on its own cryptocurrency – BetU tokens.
The BETU token is the driving force behind the entire ecosystem and is the only currency in the BetU marketplace. The BETU token is a Bep-20 token on Binance Smart Chain.
The basis of the platform is prediction games. The bidders get payout in BetU tokens for making correct predictions in the arena of sports and esports. If you have BetU tokens in your wallet, then there is no need to pay any extra fee for playing the game. To ensure security, BeTU Tokens are burnt if any attempt of cheating is witnessed.
Holders can stake or swap BetU tokens on platforms like PancakeSwap, etc. Users can easily withdraw their earnings as BetU tokens or swap it for ether (ETH), Binance Coin (BNB), tether (USDT).
Sports betting is a big industry with earning potential of billions of dollars in revenue every year. Rogash, chief executive officer and founder, EarnU opines it makes complete sense for us to offer a new age predict-to-earn platform in the market that is a combination of the two rising interests among users.
He further added that Indians are very passionate about sports and esports. This combined with an emerging market for cryptocurrency and the familiarity of Indians with the platform can be cashed easily.
He expects alone Indian fantasy sports market to touch $2.5 billion in 2022. In the very first phase only, the platform targets to put at least 10,000 users in picture on the platform every month.
However, betting in sports is mostly illegal in India. Horse racing is one of only few sports where betting is permitted legally in India. Despite being illegal, the annual market size of gambling or betting in sports in India is estimated to be between US$ 40 billion to 150 billion, according to a report by ENV Media.
Online sports betting is thriving in Indian sports market, though illegally. Adding to that, phantasy sports betting platforms like Dream 11 have grown so big to publicly sponsor Cricket league games in India. Most of the online betting in games in India is dominated by shady bookmakers, notoriously referred as bookies in India.
