Sports betting software provider Pinnacle advances blockchain in gaming with Azuro Project
Posted on: August 9, 2022, 10:24 am.
Last updated: 9 August 2022, 10:24.
Sports betting software provider Pinnacle Solution is promoting the use of blockchain in the sports betting space. It has partnered with the Azuro platform, a decentralized gaming solution.
Through the partnership, Pinnacle will make its sports and eSports awards available to Azuro for further distribution, according to a press release from the company. Then, operators connected to Azure’s blockchain protocol will be able to access the feeds.
Deployable across multiple blockchains, the Azuro protocol facilitates interactions between independent data providers and operators. This network reliably offers thousands of online gaming markets to end users using smart contracts to simplify transactions and improve integrity.
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As one of the first data providers of the Azuro protocol, Pinnacle Solution will help offer its benchmark pricing capabilities at global sporting events to users. All front-end and back-end activities are processed on the chain securely and continuously.
Azuro bills itself as the first decentralized, blockchain-based betting solution. By using Pinnacle’s network, it will make it possible to promote the use of blockchain in mainstream gaming, as well as attract new interest.
This partnership with Azuro is an excellent example of how blockchain can take our industry forward. We are excited to integrate our pricing into the ecosystem and offer a multi-jurisdictional user base of decentralized players with our world-class pricingsaid Pinnacle Solution BD director Rohini Sardana.
Pinnacle has an established presence in the eSports ecosystem, which will also boost the initiative. Data from Grandview Research puts the eSports space at $2.1 billion last year and growing. It is experiencing a CAGR of 21.9%, which will continue through 2030. As a result, interest from operators will increase exponentially as well.
Azuro is already available to game providers and operators. The new Pinnacle solutions feed will be added in the coming weeks.
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The Pinnacle-Azuro solution will expand the use of blockchain in sports betting when it takes off. However, there have previously been initiatives to leverage the benefits of blockchain to give the technology a more prominent position in the gaming space.
Decentralized betting site Bookmaker.xyz, which fully uses blockchain technology, appeared recently, accepting bets on football and eSports. Like Pinnacle’s solution, it also runs on Azuro.
All transactions on the website, due to blockchain technology, occur without centralization and provide anonymity and security for users. In addition, the bookmaker is able to provide fair odds. It is impossible to change information once it is written on a blockchain. Therefore, players and operators have confidence in the data presented, including odds, payouts and more.
In addition to football and eSports, it will soon be possible to bet on tennis and MMA at Bookmaker.xyz. To place bets, players need a Web3-enabled wallet, such as MetaMask, to connect to the bookmaker’s platform.
There is also BetDex, a decentralized sports betting protocol that arrived last November. The developers are still fine-tuning the system, but BetDex is including former FanDuel leaders to give it a stronger start. FanDuel co-founders Nigel Eccles, Varun Sudhakar and Stuart Tonner are spearheading the project.
