CRYPTO AND SPORT BETTING EXCHANGE - ROBET
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CRYPTO AND SPORT BETTING
EXCHANGE
ROBOADVISORCOIN:
A PLATFORM PLENTY OF OPPORTUNITIES
WHITE PAPER 2.0
Contents
1 - Scope Statement 6
2 - Abstract RoBET 8
3 - Time-Series Predictions and Artificial Intelligence 10
3.1 - When a Robot bets: Gambling and Artificial Intelligence 11
4 - Sports betting: a growing business in emerging markets 13
5 - Our Vision 16
6 - RoBET Platform 17
6.1 - Sports Betting platform based on Smartcontract and Blockchain 19
6.2 - RoBET wallet: a crypto player account 21
7 - RoBET Services 22
7.1 - Betting services powered by AI 24
Discover robot advises 26
Create your ticket 27
Evaluate a ticket 28
Beat the Bot 29
Statistical services 29
7.2 - A new betting exchange service: each user can became a bookie 30
Create a custom sportsbook 31
Participate in other sportsbooks: Bookie sharing 35
Propose your own betting 36
Social Betting: perform as the best players 37
7.3 - Skill games 37
Sport Roulette 37
Last minute Bingo 40
8 -RoBET: the new RAC product 41
1) Financial Robo-advisor. 42
2) Crypto Robo-advisor. 42
3) Betting Robo-advisor: RoBET 43
9 - One token, many services: RoBET, Crypto forecasts, Crypto Sport Betting and more. 46
10 - RAC holders payout 47
11 - Token Sale Terms 47
12 - Token Launch 49
13- Roadmap 50
14 - Team 52
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DISCLAIMER
THE INFORMATION CONTAINED IN THIS WHITE PAPER IS BEING MADE AVAILABLE IN CONNECTION WITH THE PRESENTATION OF THE
RAC TOKEN PROJECT TO POTENTIAL TOKEN HOLDERS. THE INFORMATION SET FORTH BELOW MAY NOT BE EXHAUSTIVE AND DOES
NOT IMPLY ANY ELEMENTS OF A CONTRACTUAL RELATIONSHIP. ITS SOLE PURPOSE IS TO PROVIDE RELEVANT AND REASONABLE
INFORMATION TO POTENTIAL TOKEN HOLDERS FOR THEM TO DETERMINE WHETHER TO UNDERTAKE A THOROUGH ANALYSIS WITH
THE INTENT OF CONTRIBUTING AND GETTING RAC TOKENS.
NO BROKER, DEALER, SALESMAN OR OTHER PERSON HAS BEEN AUTHORISED BY THE COMPANY OR ITS DIRECTORS TO ISSUE ANY
ADVERTISEMENT OR TO GIVE ANY INFORMATION OR TO MAKE ANY REPRESENTATIONS IN CONNECTION WITH THE COMPANY OTHER
THAN THOSE CONTAINED IN THIS WHITE PAPER AND OTHER DOCUMENTS REFERRED TO HEREIN, AND IF GIVEN OR MADE, SUCH
INFORMATION OR REPRESENTATIONS MUST NOT BE RELIED UPON AS HAVING BEEN AUTHORISED BY THE COMPANY, ITS
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THIS WHITE PAPER DOES NOT CONSTITUTE, AND MAY NOT BE USED FOR THE PURPOSES OF, AN OFFER OR INVITATION TO
SUBSCRIBE FOR THE RAC TOKENS ISSUED BY THE COMPANY BY ANY PERSON IN ANY JURISDICTION: (I) IN WHICH SUCH OFFER OR
INVITATION IS NOT AUTHORISED; OR (II) IN WHICH THE PERSON MAKING SUCH OFFER OR INVITATION IS NOT QUALIFIED TO DO SO,
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INVESTING IN THE RAC PROJECT MAY PUT A CONTRIBUTOR’S CASH PARTLY OR WHOLLY AT RISK. CONTRIBUTORS SHOULD THUS
SEEK APPROPRIATE ADVICE AND READ ALL THE INFORMATION CONTAINED IN THIS WHITE PAPER BEFORE MAKING ANY DECISION.
A PROSPECTIVE CONTRIBUTOR SHOULD ALWAYS SEEK INDEPENDENT ADVICE BEFORE DECIDING TO CONTRIBUTE TOWARDS ANY
PROJECT OF THIS NATURE. A PROSPECTIVE CONTRIBUTOR SHOULD BE AWARE OF THE POTENTIAL RISKS IN MAKING HIS/HER
CONTRIBUTION AND SHOULD MAKE THE DECISION TO CONTRIBUTE ONLY AFTER CAREFUL CONSIDERATION AND CONSULTATION
WITH HIS OR HER OWN INDEPENDENT ADVISORS AS TO ANY MATTER CONCERNING THE RAC TOKENS, THE COMPANY, AND THIS
WHITE PAPER.
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(THE “U.S.”) OR TO OR FOR THE BENEFIT OF, DIRECTLY OR INDIRECTLY, ANY U.S. PERSON (AS DEFINED IN REGULATION “S” OF THE
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ALL ADVISORS TO THE COMPANY HAVE ACTED AND ARE ACTING EXCLUSIVELY FOR THE COMPANY IN RELATION TO THE RAC TOKENS
AND HAVE NO CONTRACTUAL, FIDUCIARY OR OTHER OBLIGATION OR RESPONSIBILITY TOWARDS ANY OTHER PERSON AND WILL,
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AND EVEN LIMIT OR PREVENT IT FROM DEVELOPING ITS OPERATIONS IN THE FUTURE. ANY PERSON UNDERTAKING TO HOLD RAC
TOKENS MUST BE AWARE OF THE BOOKIEDOM BUSINESS MODEL, THE WHITE PAPER OR TERMS AND CONDITIONS MAY CHANGE OR
NEED TO BE MODIFIED BECAUSE OF NEW REGULATORY AND COMPLIANCE REQUIREMENTS FROM ANY APPLICABLE LAWS IN ANY
JURISDICTIONS. IN SUCH A CASE, CONTRIBUTORS AND ANYONE UNDERTAKING TO HOLD RAC TOKENS ACKNOWLEDGE AND
UNDERSTAND THAT NEITHER BOOKIEDOM NOR ANY OF ITS AFFILIATES SHALL BE HELD LIABLE FOR ANY DIRECT OR INDIRECT LOSS
OR DAMAGE CAUSED BY SUCH CHANGES. BOOKIEDOM COMPANY WILL DO ITS UTMOST TO LAUNCH ITS OPERATIONS AND DEVELOP
THE BOOKIEDOMPLATFORM. ANYONE UNDERTAKING TO ACQUIRE RAC TOKENS ACKNOWLEDGES AND UNDERSTANDS THAT
BOOKIEDOM DOES NOT PROVIDE ANY GUARANTEE THAT IT WILL MANAGE TO ACHIEVE IT. THEY ACKNOWLEDGE AND UNDERSTAND
THEREFORE THAT BOOKIEDOM (INCL. ITS BODIES AND EMPLOYEES, CONSULTANTS AND ADVISERS) ASSUMES NO LIABILITY OR
RESPONSIBILITY FOR ANY LOSS OR DAMAGE THAT WOULD RESULT FROM OR RELATE TO THE INCAPACITY TO USE RAC TOKENS,
EXCEPT IN CASE OF INTENTIONAL MISCONDUCT OR GROSS NEGLIGENCE.
EVERY RAC TOKEN HOLDER SHOULD CONSIDER GETTING HOLD OF ONLY THE NUMBER OF TOKENS THAT HE/SHE THINKS SHOULD
BE SUFFICIENT TO ACCESS (ON THE ROBOADVISORCOIN AND RoBET PLATFORMS) THE SERVICES HE/SHE REQUIRES AND CAN USE
DIRECTLY. EVEN IF THE TEAM WILL BE COMMITTED TO ALLOW THE TOKEN TO BE TRADED ON EXTERNAL EXCHANGES, THOSE
EXCHANGES ARE THIRD-PARTIES THAT MAY CHOOSE TO NEVER LIST THE RAC TOKEN. THIS MEANS THAT THERE IS NO WARRANTY
THAT THE TOKEN WILL BE TRADABLE, AND THUS, THERE IS NO WARRANTY THAT TOKEN HOLDERS WILL BE ABLE TO SELL ANY RAC
TOKEN SURPLUS THEY DO NOT NEED. FURTHERMORE, EVEN IN CASE THE RAC TOKENS COULD BE SOLD, THERE IS NO WARRANTY
THAT THE OFFERED PRICE WILL NOT BE LOWER THAN THE INITIAL COIN OFFERING PRICE, GENERATING LOSSES FOR THE RAC TOKEN
HOLDER.
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SINCE HOLDING RAC TOKENS IS NOT ASSOCIATED WITH ANY INVESTMENT, THERE IS NO LINK BETWEEN THE PROFITABILITY OF THE
BOOKIEDOM PLATFORM AND THE VALUE THAT THE RAC TOKEN MAY HYPOTHETICALLY REACH ON THIRD PARTY EXCHANGES,
SHOULD SUCH EXCHANGES DECIDE TO LIST THE RAC TOKEN. FURTHERMORE, IN CASE OF PROJECT FAILURE, BOOKIEDOM MAY BE
UNABLE TO PROVIDE THE PLATFORM SERVICES TO TOKEN HOLDERS.
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FOR TOKEN HOLDERS TO SELL THEIR RAC TOKENS; THE CASE IN WHICH NO EXCHANGE CHOOSES TO LIST THE RAC TOKENS; LOSSES
DUE TO SALE OF RAC TOKENS AT A LOWER PRICE THAN THE PRICE PAID; FAILURE OF THE PROJECT AND CLOSURE OF THE PLATFORM
WITH THE IMPOSSIBILITY TO USE THE SERVICES.
THE BOOKIEDOM NAME, THE RoBET NAME, THE ROBOADVISORCOIN NAME, RoBET, BOOKIEDOM AND ROBOADVISORCOIN WEBSITES,
ROBOADVISORCOIN SOCIAL MEDIA ACCOUNTS, RoBET SOCIAL MEDIA ACCOUNTS ARE THE SOLE PROPERTY OF BOOKIEDOM LTD.
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1 - Scope Statement
The purpose of this document is:
1) to outline the process of investing into the RoboAdvisorCoin (RAC) crowdsale:
RoBET is the brand new product entirely focus on the betting and
cryptocurrencies universe,
2) to explain how the RAC platform works, and
3) to illustrate its advantages for both users and investors.
The RAC platform is the first of its kind to provide the mechanisms that have been
designed by our team which allow them to fully exploit the possibilities that blockchain
technology has to offer. The specific features built into the project will offer additional
incentives as regards its global use and utility.
The first stage of public sale ended on the 24th December 2017. At this stage the
evolution of the platform was mainly focused on optimizing the machine learning
algorithms applied principally to cryptocurrencies trends, predictions and related services.
For a more detailed outline and description of the previous stage and related activities
investors can refer to the previous version of this Whitepaper (available on the
roboadvisorcoin website as version 1.0).
The second stage of the public sale will begin as a pre-sale on February 1st 2018
and the ICO will start on 20th April 2018 and will end on 21th May 2018. At the second stage,
the objective of the project will be to apply and optimize the previously developed machine
learning algorithms to the fields of gaming & sports betting.
It is intended that the RAC product, (formerly known as Betting robo-advisor RoBET),
will go live in May 2018, marking the start of a new era for the business of betting: RoBET
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is a smart-contract, decentralized, and blockchain ecosystem for sports betting fully based
on Ethereum platform.
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2 - Abstract RoBET
RoBET is the first platform natively based on the Ethereum blockchain, and designed to
create an innovative 'Betting Exchange' able to enhance the use of smart contracts and
blockchain to facilitate the birth and growth of a professional, transparent, and sustainable
ecosystem of sports betting. The platform is also integrated with an Artificial Intelligence
engine designed to support the needs of players and bookmakers.
In RoBET, the players can choose to bet using the RAC tokens or others digital
currencies. Alternatively, the players can open their own mini digital agency and then have
their own account promoted to be a “Bookie”. In this respect, the use of the smart contract
enables also the possibility to share the bookie wallet and gaming strategies with other
partners, with which to propose custom odds to all the players of the RoBET platform.
The system elaborates odds and forecasts on a daily basis using its predictive tools
(RAC AI platform) based on both a large database of odds and bets obtained from the main
international bookmakers and the information generated by the platform itself - even at
the level of each mini digital agency -, as if it were a real right node of a decentralized
ecosystem.
Finally, RoBET is also a digital multi-cryptos wallet able to guarantee the
management of the entire betting process using digital currencies. As a unique and
innovative feature, RoBET also offers the possibility to exchange, passing through one or
more sports bets, one cryptocurrency into another at a very low transaction fee.
All services offered by RoBET will be accessible in exchange for RAC tokens, we
designed a great deal of new services which will be release to the public at the end of the
ICO: a) robot betting advices; b) custom advices based on user-defined objectives; c)
custom advices based on user-specified preferences and suggestions; d) statistical
analysis; e) gaming services whereby a player can beat the RoBot AI; f) new Betting
exchange services whereby each player can create a custom sportsbook and became a
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bookmaker; g) participation in other sportsbooks; h) propose new odds and new kind of
bets; and i) also, at least, two new skill games based on sport events in which users can
use RAC tokens, or other cryptocurrencies, to play against each other.
RoBET is the last exciting product of RoboAdivorCoin (RAC) which incorporates
three main products: Financial RoboAdvisor, Crypto RoboAdvisor and Betting RoboAdvisor
namely RoBET; all these products are powered by our artificial intelligence algorithms and
they all are at an advanced business development.
With this ICO we mainly aim to finalize and improve the services offered by our
products. All the RAC platform services will be exclusively available in exchange for RAC
tokens. Upon completion of the ICO, only RAC token holders will be able to access our
products and services in exchange for RAC tokens.
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3 - Time-Series Predictions and Artificial Intelligence
In many real-world applications, e.g., speech recognition or investments, data are
captured over time, constituting a Time-Series. Time-Series often contain temporal
dependencies that cause two otherwise identical points of time to belong to different
classes or predict a different behavior. This characteristic generally makes their analysis
quite complex. Existing techniques often depends on ad-hoc features, expensive routines,
and/or field experts heuristics. The increasing complexity of time series analysis has
spurred the interested in advanced Machine Learning techniques, such as supervised
learning and artificial neural networks. The scientific literature on machine learning and
the related benefits is quite exhaustive and makes clear that recent advancements, such
as Deep Learning tools, show a great deal of accuracy in time-series forecasting.
Artificial Neural Networks (ANN), since their origin in 1943, have been used to solve
a large range of problems, spanning from language processing to speech recognition, with
financial predictions in between. An ANN concerns a computing system inspired by the
biological neural networks that constitute animal brains. Such systems progressively learn
how to perform a task by considering examples, generally in a fully automatize fashion.
Operationally, an ANN is based on a collection of directly connected units or nodes. In
conventional implementations, the input of a connection between nodes is a real number,
and the output is calculated by a non-linear function of the sum of its inputs. In other
words, each computing unit performs some calculations and gives as an output a value
that is then spread through all its outgoing connections as input into other units.
Connections normally have weights that correspond to how strong two units are linked.
The focus of learning algorithms is primarily on deciding the optimal weights of the inputs
to generate the desired output, conditional on a user-specific loss function. A popular
learning algorithm is the Back propagation algorithm, whereby the gradient of an error
function is calculated and the weights are iteratively set so as to minimize the error.
10 of 56Despite the intuition that deeper architectures would yield better results than the
then more commonly used shallow ones, empirical tests with deep networks had found
similar or even worse results when compared to networks with only one or two layers.
Additionally, training was found to be difficult and often inefficient. Latest deep
architectures use several modules that are trained separately and stacked together so that
the output of the first one is the input of the next one. From stock market prices to the
spread of an epidemic, and from the recording of an audio signal to sleep monitoring, it is
common for real world applications to take into account the serial dependence across
observations. When collected together, the measurements compose what is known as a
time series. For different fields, suitable applications vary depending on the nature and the
purpose of the data: while doctors can be interested in searching for anomalies in the sleep
patterns of a patient, economists might be more interested in forecasting future stock
prices. These kind of problems are addressed in the literature by a wide range of different
approaches.
Independently of ANN and Deep Learning, the analyses of time series data have
been a popular subject of interest in other fields such as Economics, Engineering and
Medicine, whereby the main most focus is on forecasting future observations of quantities
of interest. Designing ANN models follows a number of systemic procedures. In general,
these procedures can be summarized in five basic steps: (1) collecting data, (2) pre-
processing data, (3) building the network, (4) train the network, and (5) test the model
performance. More recent applications concern the prediction of chaotic time series,
forecasting Internet traffic, and the diffusion of epidemic diseases.
3.1 - When a Robot bets: Gambling and Artificial Intelligence
Forecasting accuracy already represents an integrand part of the “core business”
for financial advisory and investments, whereby the more accurate the predictions of, say,
future stock prices, the higher the profits a trading strategy could guarantee. Yet, from the
personalization of marketing and commercial campaigns to the possibility of planning
11 of 56production without errors, big data and predictive systems have become an integral part
of business developments.
The gaming industry makes no exception. In fact, it is quite the opposite; the gaming
sector represents the natural environment to operationalize and empower machine
learning-based predictive frameworks because of the possibility to (1) obtain and generate
continuously large volumes of data, (2) generalize and spread the events object of interest,
i.e. the odds and bets, (3) ensure high transparency of the sources of information, (4)
embed the growing role of social media. As a result, Artificial Intelligence coupled with the
technology of the blockchain, allows to efficiently design a digital betting platform which
enables to represents an ecosystem of sports predictions and advices, which can be
transparently certified and stored on the blockchain. In addition, the forecasts elaboration
is entrusted to the artificial intelligence of the Robot, which acts without the direct
interference from human teams.
The use of cryptocurrencies adds to the AI-blockchain mix the possibility to
autonomously manage the entire betting cycle, from the initial phase of the analysis and
assessments of the odds to the final stage of the betting outcomes distribution, by using
cryptocurrencies as the exclusive method of payment.
As a matter of fact, the RAC project aims at recreating a complete gambling
environment, in which all the functions needed to manage a digital betting experience are
enabled and supported through the use of crypto currencies. In other words, we propose
an original platform which is able to manage the complexity of end-to-end gambling by
implementing on the blockchain all the following processes:
• Opening a game account;
• The establishment of guarantees or deposits;
• The possibility of being able to play in partnership with other players;
12 of 56• Certification of winnings and prizes won;
• The certification of any relevant data for the purposes of the game;
• The generation of custom odds.
To summarize, RAC is a new platform in which the players can ask the Robot for the
best forecasts about sports results and simultaneously represents a new betting
environment, whereby transparency and trust is guaranteed by the blockchain. A game
universe which rotates around the use of cryptocurrencies, based on the interaction
between big data analysis, machine learning for forecasting, and the blockchain.
4 - Sports betting: a growing business in emerging markets
The following figure depicts the revenues generated in the global sports market from
2005 to 2017. By 2017, the global sports market was expected to generate about 91 billion
U.S. dollars in revenues.
13 of 56Although, the aggregate total value of global sports betting is rather difficult to
estimate, due to the lack of regulation in some parts of the world, it is a fact that betting
makes up about 30 to 40 percent of the global gambling market, which also includes
lotteries, casinos, poker and other gaming. This is quite remarkable, especially considering
that the global gross gaming/gambling yield amounts to more than 400 billion U.S. dollars
each year.
Gross wins from gambling represents the amount of money the gambling operation
keeps from the customer’s stakes, wagers, bets etc., less the winning paid out to the
customer and before deducting operating expenses. With about one third of the global
gambling gross win, Asia is the biggest market for gambling, and sports betting in
particular. Probably the fastest growing segment of the industry is the online / interactive
category, as the global online gambling market has grown at a consistent rate over the last
few years, from around $20bn in 2009 to more than $40bn by 2016.
As of now, sports betting services are provided by companies such as William Hill,
Ladbrokes, bet365, Bwin, Paddy Power, Betfair, Unibet, Better and many more through
14 of 56online platforms and in many cases via betting shops. As a case in point, in 2015, William
Hill generated around $2.37bn in revenue, with about $13.26bn dollars in total being staked
/ wagered with the company.
According to a Statista survey almost 50 percent of people 18 years and older in the United
States have placed a bet on a sports event at least once in their life.
The global online gaming market will on average grow by around 9.6% annually over
the period 2015-2020, according to a research by the London merchant bank James
Stocks & Co. More specifically, the market will increase from $38bn in 2015 to $60bn
estimated for 2020. Compared to the total gaming market, the online segment will increase
from 10% in 2015 to 14% estimated for 2020, with sports betting representing about 50%
of the total growth.
In terms of geographical distribution, the main market is Europe, which is expected
to rise from £14.57bn in 2015 to £19.91bn in 2018. The Asian market comes second, which,
compared to £ 9.39bn in 2015, will grow to £ 11.36bn 2018, while the North American
15 of 56market is expected to have the highest growth, i.e., from £ 3.93bn in 2015 to £ 6.97bn in
2018, with CAGR of 21% in the period considered.
The main driving factor behind market growth in the online sector will be
represented by the mobile segment and by the skill games made through the use of the
smartphone and tablets. For this sector a CAGR of 17.7% is expected in the period 2015-
2018 for an estimated value of £ 15.2bn. Compared to the total online market, the mobile
segment will increase from 31% in 2015 to 36% estimated for 2018, and sports betting will
be the main growth driver of this sector.
5 - Our Vision
RoBET is our answer to three existing and revolutionary trends: Artificial Intelligence,
Big Data, and Cryptocurrencies.
“One Bet two Odds”: We aim at offering an integrated customer experience by
coupling cryptocurrencies and the betting industry. We believe RoBET is the digital
gambling wallet of the future, where each gambler can actually use cryptocurrencies to buy
any sport bets available in our ecosystem. In addition, our integrated platform enables the
user to decide, at the same time and with the same bet, to also bet on cryptos volatility and
trends as suggested by our Robot forecasts. In this way crypto currencies betting and sport
betting merge in an original customer experience. This is a distinctive feature of our
service, whereby with one bet each customer can de facto bet twice; a first time on any
sport event result he or she likes, and then on any owned crypto upside or downside price
changes based on the forecasted price trend.
RoBET is also the best answer to the implementation of smart contract and
blockchain in the sport betting industry to change completely the type of backend used by
industry platforms and systems. Our vision is to create a new end-to-end gambling
platform able to process in a transparent, safe and certified way all aspects of a sport
betting activity: from the initial bet to the final payment to the winner. It is a new B2B2C
16 of 56betting platform able to exploit smart contracts and blockchain in order to move forward
the betting industry management in a low fees high personalization direction.
Finally, we introduce machine learning predictions to fulfill our vision. Robot’s
suggestions or forecasts must be accurate, real time, easy to interpret, and more
importantly easy to use. In our vision, Artificial Intelligence tools represent an effective
permanent tutor of each customer looking for the best deep big data analysis support. In
this way, one can get the most customized suggestion, or advice, on sport events. More
prominently, our machine learning algorithms will provide forecasts for both the sport
events one might be interested in and the cryptocurrency which has been selected as
method of payment, consistently with the logic of “one bet two odds” outlined above.
RoBET: an innovative digital wallet to bet, at the same time, on sport events and on
cryptos trends, empowering smart contract and blockchain features to reduce transaction
fees and increase the quality and safety of the service, and offering AI services and support
to have a Robot assisted bet experience. This is RoBET world, our vision for betting and
gaming in the blockchain emerging century.
6 - RoBET Platform
The following sections describe some featured services that will be realized in the event of
a successful ICO (stage 2). We remark that the stage 2 of the ICO mainly concerns the
Betting Robo-Advisor services. In this stage of the ICO, the project promises to realize the
most advanced sports betting platform based on smart contract and Artificial Intelligence
and moreover to make it operational after the first quarter of 2018.
Our existing platform is made up of several components. In figure 3 we focused only on
the platform modules dedicated to the Betting Robo-advisor product.
17 of 56Figure 3–Example of Report for Crypto-currencies.
The crucial innovation we bring to the betting industry is twofold: (1) we provide a reliable,
easy to use, forecasting platform for the odds of sport events, at a fraction of the cost one
normally would pay to experts and human-based predictive systems. Then (2) we provide
the opportunity for a user to sign up on the platform as a business client and publish a
custom sportsbook powered by a smart-contract. In this respect, the differences between
our platform and the other betting-exchange services, which are currently available on
others traditional bookmakers, are:
● the use of artificial intelligence to support customers in risk management and odds
evaluation and comparison
● a distributed architecture powered by smart-contract, such that every user can
became a bookmaker
● the offer of advanced services such as deposit, risk management, real time sports
catalogue, odds comparison, etc., using cryptocurrencies.
18 of 56The platform (dealership) establishes default odds and legal gambling limits, acting as an
intermediary matching supply and demand, and earning spreads and fees based on a
minimum margin amount of gaming winnings.
Notice that the licensing for sports betting is required in two cases: Money
withdrawals (USD, EUR, AUD, GBP etc.) and Offline points. Depending on the country, the
licensing cost varies from $0.1 to $2m annually. Licensing is required in many countries to
support legal money withdrawals (means USD, EUR, GBP, AUD). We are currently getting a
license as bookmakers in Malta. Due to its nature, RoBET does not need any license from
any regulators. However, the licensing is a possible continuation of RoBET’s development
to support also fiat money withdrawals, for now RoBET platform is design in order to
support only RAC Token and the major cryptocurrencies. The platform revenue model is
simple:
● Users can access Robo advisor services through subscriptions or on-demand
payments (RAC token only accepted)
● Betting exchange services will be entirely regulated between the platform and its
bookies with a revenue shares model except for a smartcontract handling fee of 1
RAC/month. RAC wants the success of its bookies so we keep a very limited
percentage of the revenues of bookies (e.g. 0.5% of the payout)
● RoBET exchange services: a low fee (0.15%) will applied if the player wants to
convert its winning price from a crypto to another crypto.
● Deposits on the RoBET Account Wallet will be free;
● Withdrawals (0.01-1%) from the RoBET Account Wallet. Minimum withdrawal
amount will be the equivalent of 30$.
6.1 - Sport Betting platform based on Smartcontract and Blockchain
The crucial innovation we bring to the betting industry is twofold: (1) we provide a reliable,
easy to use, forecasting platform for the odds of sport events, at a fraction of the cost one
normally would pay to experts and human-based predictive systems. Then (2) we provide
19 of 56the opportunity for a user to sign up on the platform as a business client and publish a
custom sportsbook powered by a smart-contract. In this respect, the differences between
our platform and the other betting-exchange services, which are currently available on
others traditional bookmakers, are:
● the use of artificial intelligence to support customers in risk management and
odds evaluation and comparison
● a distributed architecture powered by smart-contract, such that every user can
became a bookmaker
● the offer of advanced services such as deposit, risk management, real time
sports catalogue, odds comparison, etc., using cryptocurrencies.
The platform (dealership) establishes default odds and legal gambling limits, acting as an
intermediary matching supply and demand, and earning spreads and fees based on a
minimum margin amount of gaming winnings.
Notice that the licensing for sports betting is required in two cases: Money
withdrawals (USD, EUR, AUD, GBP etc.) and Offline points. Depending on the country, the
licensing cost varies from $0.1 to $2m annually. Licensing is required in many countries to
support legal money withdrawals (means USD, EUR, GBP, AUD). We are currently getting a
license as bookmakers in Malta. Due to its nature, RoBET does not need any license from
any regulators. However, the licensing is a possible continuation of RoBET’s development
to support also fiat money withdrawals, for now RoBET platform is design in order to
support only RAC Token and the major cryptocurrencies. The platform revenue model is
simple:
● Users can access Robo advisor services through subscriptions or on-demand
payments (RAC token only accepted)
● Betting exchange services will be entirely regulated between the platform and its
bookies with a revenue shares model except for a smartcontract handling fee of
1 RAC/month. RAC wants the success of its bookies so we keep a very limited
percentage of the revenues of bookies (e.g. 0.5% of the payout)
● RoBET exchange services: a low fee (0.15%) will applied if the player wants to
convert its winning price from a crypto to another crypto.
20 of 56● Deposits on the RoBET Account Wallet will be free;
● Withdrawals (0.01-1%) from the RoBET Account Wallet. Minimum withdrawal
amount will be the equivalent of 30$.
6.2 - RoBET wallet: a crypto player account
One of the most innovative features of the RoBET platform is the player wallet. The RoBET
wallet can store several digital currencies, offering multiple services along to simplify the
earnings/winnings management. The wallet is an original tool that will allow both the
individual player to manage their bets and the bookies to manage their gaming strategies,
such that revenues can be deposited and withdrawn in different cryptocurrencies. In
particular, the wallet will perform the following functions:
- deposit of the cryptocurrencies and RAC token owned by the players;
- cash-out: use cryptos or tokens to place bets;
- cash-in: collection of any winnings;
- exchange: the wallet enables the possibility to define the payment of a bet in the
cryptocurrency A and to decide the possible payment of the winnings in the cryptocurrency
B;
- collaborate: participate or invest tokens in a shared wallet to collaborate in other
players gaming strategies.
The wallet will also enable peer-to-peer exchanges between players. This will make
possible the exchange or the conversion from one digital currency to another within the
platform by paying lower fees compared to existing regular exchanges. For instance, the
owner of a Bitcoin Cash can exchange it with another player who has Ripple in his wallet
and is available for conversion into Bitcoin Cash. RoBET will guarantee the exchange ratios
to be used and will ensure the closing of the transaction, i.e. market clearing matching
demand and supply. This feature will be made even more exclusive by the use of the
forecasting service on cryptocurrencies trends that only RoBET integrates with sports
betting by exploiting the services of the RoboAdvisorCoin Artificial Intelligence predictive
21 of 56system.
To summarize, all owners of the digital RoBET wallet will have two services available
in the same wallet: 1) they receive the odds of the individual sport events and the indication
of the betting options in terms of payments with RAC token or any of the other cryptos
accepted by the platform; 2) they receive a list of forecasts that the Robot processes for
the same cryptocurrencies held in the wallet with a representation similar to that adopted
for weather forecasting: therefore on an hourly and daily basis up to a week. This allows
players to combine two unique and exclusive services, integrate to maximize profits and
make the best out of the gaming experience, namely choose the best possible odd, with
the support of the Robot, related to a single sporting event, and the exchange or flipping
service between cryptocurrencies. For instance, one can bet on a sport event using the
cryptocurrency A on a downtrend according the Robot forecasts and deciding on the cash-
in on the cryptocurrency B on a upside trend in the same time frame.
As a result, RoBET will give the unique possibility of simultaneously executing two
games: the sports betting and the financial betting on the short-term trend of the
cryptocurrencies price available in the digital wallet.
7 - RoBET Services
The plan to realize betting Robo-advisor services is based on three main milestones:
1) Betting services AI powered:
● Discover robot advises: the platform every day elaborates a list of different
predictions, each of them is focused on selecting best odd opportunities from a
single tournament. This is accomplished by studying winning probabilities and
odds. Then, users can navigate the list of predictions and read or save suggestions
and forecasts about the winning odds.
● Create your ticket: users can follow a simple wizard to receive customized
suggestions about odds. The platform during the wizard asks the user for winning’s
objectives, preferred tournaments, acceptable risks, etc. The Robo suggests
possible combinations of available odds for the next matches scheduled.
22 of 56● Evaluate a ticket: The Robo-advisor provides on-demand performance metrics,
such as stability, volatility, teams performances, etc, related to a list of selected
odds.
● Statistical services: news, statistics and other betting «traditional services» such as
odds comparison,etc.
● Beat the Bot: the user can test his ability to make sports forecasts against those
generated by the Robo-advisor.
2) New Betting exchange services:
● Create a custom sportsbook: the user can build a new sportsbook with his own
odds and rules.
● Participate in other sportsbook: the user can participate with his funds in crypto in
the main sportsbook or in a sportsbook proposed by other customers. Using the
Ethereum platform to propose adjustment to the smart contract, the investors of
the sportsbook can vote to make decisions about odds, risks, tournaments, etc.
● Propose your own betting: the user can propose events and odds such for example
politics, minor sports, etc.
● Social Betting: the platform tracks the players’ strategies and theirs betting
returns, such that each user can follow the best bookies to take part in their
betting strategies. This is thanks to the power of a dedicated smartcontract.
3) Skill games:
● Sport Roulette: the user can play against other users joining the roulette table
during a live football match.
● Last Minute Bingo: the user can play against other users a bingo skill game based
on a live sport game.
23 of 567.1 - Betting services AI powered
It is the service more oriented to the mass market among all those proposed by
RoBET and aims to create a universal information point for anyone interested in sports
betting. Building on the experience gained in five years of use of the AI in the context of
financial markets and portfolio investments, the RoBET team has exploited this expertise
to create an innovative system. With the same logic with which the technology of AI was
created to offer the investor services of stock picking at a given moment and portfolio
optimization to achieve the objectives of the period, so RoBET will be able to offer its "best
odd" for every single sporting event, and also combinations of bets to fill out an ideal ticket
for the specific risk-return objectives of the specific customer. The analogy between
portfolio and the ticket is the key concept that RoBET wants to introduce: RoBET can select
the best risk-return ratio related to a game strategy elaborated by the algorithm that, using
a few simple questions asked by the platform to the player, is able to pre-fill an optimal
betting slip, then indicating the best odds for each individual sporting event and the
recommended concatenation on several events as the only play. In practice, thanks to
RoBET, the customer can define his ideal target for gain given a selected level of risk, i.e.,
given the volatility with which the single sporting event has the probability or not of
occurring according to the predictions of the robot.
In this way RoBET becomes an application of artificial intelligence to sports betting
able to generate the best single odds or the best card to play, given the gain and risk
24 of 56expectations expressed by the player. By modifying its risk profile and profit expectations,
the token holder can optimize the recommendations proposed by the Robot.
RoBET intends to issue its tokens (i.e. RAC token), to allow all those who are
interested in the forecasts elaborated by the artificial intelligence to be able to buy the
forecasts and then decide autonomously how and where to play the odds suggested by
the AI. RoBET is neither a bookmaker nor a betting player, it is an advanced system
designed to offer probabilities about results or rather forecasts for football and sporting
events. It produces updated information about the best probabilities and statistics about
odds, but the execution of the bet (i.e. the play) takes place where the customer decides to
"place it".
After several years of experimentation RoBET has developed a unique system, which
exploits the potential of artificial intelligence to identify the most profitable odd for a
sporting event. The service offered by RoBET is therefore an advanced and innovative
betting strategies optimizer that allows the profiling of the individual players based on their
specific needs and their expected risk-return trade-off.
The service has the potential to cover numerous soccer leagues in the world, and
has gained a depth of data analysis that makes it unique in its kind. Given the depth of the
information managed, our service is able to suggest combinations of odds, that is a ticket,
customized and on-demand for each individual player.
The Betting Robo-advisor generates every day predictions about sport events using
our artificial intelligence algorithm. These will be possible using a data provider which, in
real time, gives access to the odds elaborated for each single match. Because the odds are
time varying our “time series prediction” machine learning technique will obtain good
performances, as already showed in contexts related to typical financial markets and
cryptocurrencies. In the following figures, we propose some snapshots of the graphical
interface for “Discover robot advises”, “Create your ticket”, and ”Evaluate a ticket” services.
25 of 56Discover robot advises
Every day the platform produces its AI-based forecasts about soccer matches.
These forecasts will be organized by tournament (e.g. soccer league). For each tournament
the platform will keep updated the platform which will be focused on selecting, each week
or each day of the season, the best odds opportunities (i.e. forecasts) from a single
tournament. Each robo-tournament will propose at least a challenge (a virtual ticket) for a
low, medium or high-risk profile.
The platform will keep updating the precision of the forecasts for each robo-
tournament. After each day of the season, the platform will check and highlight both the
correct forecasts both the errors. Registered users can navigate the list of robo-
tournament and view for free the precision statistics and in exchange for a given fee in RAC
token will be possible to view also forecasts about odds and challenge advices.
26 of 56Create your ticket
Users can execute a simple wizard to receive customized forecasts about odds. The
platform asks the user few simple questions, such as, for e.g., winnings wishes, preferred
tournaments, acceptable risks, etc. Then, the platform elaborates the user's answers in
order to generate a tailored risk profile and to propose the best possible combinations of
available odds for matches which are scheduled next, consistent with the wished
risk/return ratio. Follows an example of wizard’s questions:
● How much you would risk? [Very Low, Low, Medium, High, Very High]
● What is the time limit for the selection of events? [Today, Tomorrow, Next Fixture]
● What are your preferred tournaments? [Premier League, Bundesliga, Ligue 1, SerieA]
27 of 56Evaluate a ticket
Registered users can always use the platform to evaluate statistics and forecasts
concerning their preferences about odds. The platform allows a user to select a list of odds,
namely a ticket, that they intend to play and ask for a custom advice. The platform utilizes
its engine to help the user with elaborated metrics such stability, winning probabilities,
teams expected performances, etc. and gives a synthetic evaluation to the ticket proposed
by the user.
28 of 56Beat the Bot
RoBET will develop innovative educational services to improve and enhance levels
of the customers’ knowledge on betting. Our service named “Beat the Robot” provides to
the subscribers with the opportunity to test their own forecasts against those generated
by our AI platform. In the main game, the player can choose up to five different matches to
complete a virtual ticket. The Robot will produce its best forecasts on the ticket with the
matches chosen by the player. The player can check the robot forecasts and decide to
spend 1 token to partecipate the game by choosing on that ticket odds at their choice.
Once all matches or sport events have closed at the end of the “Game Week”, if at least
three Human forecasts are better than the Robo-forecasts, the token must return to the
user. This means that the forecast made by the Robot was wrong and our artificial
intelligence will use this information to learn and improve itself.
Statistical services
RoBET will offer its customers a set of exclusive and innovative statistical and
forecast services. The Robot will elaborate original statistical report on each match,
containing custom RoBET parameters like stability, reliability, robo ratings, frequency (see
29 of 56the figure below), in addition to all the traditional indicators such as the historical team
performances, rankings and odds comparisons.
The Robot will elaborate the "fair value" for each odd, both by monitoring the odds
proposed by the traditional bookmakers, and by making its own predictions on the same
sporting event. The odd estimated by the Robot can support the players to understand the
convenience of each odd proposed by the Bookies on the platform, and at the same time
can be used by the Bookies to customize their odds and position itself smartly on a given
sporting event, offering hot odds or try to prevent a loss.
In addition, both all the historical series of sporting events stored in our database
and the time trends of all the odds played in the past, will be available. Thanks to the
flexibility of the platform each individual player can navigate and customize the statistics.
7.2 - A new betting exchange service: each user can became a bookie
The proposed model can be assimilated to a new betting exchange approach in which each
user can be a «bookie»; a bookie create a personal sportsbook and can publish his own
odds:
30 of 56Create a custom sportsbook
The bookie journey is very simple:
● Registration: new user registers his/her personal data on the platform. A registered
user can create a smart contract defining a soft-cap, a hard cap and a time frame
to be ready. He can also deposits a starting fund and optionally covers entirely the
soft-cap and/or waiting for contributors. The deposit allows the user to become a
bookie. The deposit will be done using the major cryptocurrencies and it will
represent the potential maximum winning price.
● Sportsbook creation: the platform offers to a bookie two different revenue models:
o The user can build a new sportsbook with his own odds. The user can use
RAC AI forecasts to adjust the odds and their risks.
o The user can participate with his crypto funds in the main or other users
sportsbook
● Betting: the platform sponsors the sportsbook, transactions and bets are stored in
the blockchain, the platform uses the smart contract to enable the distribution of
win and lost to each bookie and its players.
These steps are summarized in Figure 4.
31 of 56Figure 4 – Betting exchange new model journey.
A new custom sportsbook on the platform will be opened only in exchange for RAC
tokens. The platform will earn a small percentage of the revenues of bookies (e.g. 0.5% of
the payout) plus a starting fee for example of 1 RAC/month. With this service RAC offers to
those who have a specialization or a particular skill in sporting related fields the possibility
to "monetize" their experience and skills by becoming a self-bookmaker in the context of
the crypto currencies world. The customers will be able to set up and manage their
sportsbook with the maximum level of flexibility. In this respect, the present betting robo-
advisor service is similar to that B2B2C offered by Uber service to those who, having a car
and a driving license, choose to register on the mobility platform.
32 of 5633 of 56
Conditional on the compliance to the established rules, the platform leaves the
maximum freedom to create a mini betting agency where anyone can bet using the RAC
tokens. The players who open the mini-agency will became the mini-bookmakers namely
the “bookies”. Using the blockchain every "bookie" will store the transactions and all the
custom odds that over time will have offered to its players, so the history of every
bookmakers active on RoBET will be accessible and analyzed by anyone interested. In this
way the whole story, even in terms of winnings and losses, of the single bookmaker will be
forever preserved and available. The platform will constantly check and guarantee the
compliance of each bookies with the rules of the game and above all the general terms of
services. Also, the platform will continuously monitor whether the tokens deposited in the
bookie account are adequate to guarantee the existing bets and will request an integration
before the maximum allowed limit will be exceeded or it will block the collection of bets in
34 of 56case of failure to reinstate the deposit. If the integration is not carried out, the system will
automatically block the bets and deposits of the bookie in question. RoBET will make
available to each individual player who wants to try to become a bookie several campaign
management tools so that he can easily share its “hot odds” and stimulate the attention of
its potential bettors.
All the interactions between bookies and players will take place in a transparent and
certified way as they will be managed with the blockchain, as well as all the transfers of
cryptocurrencies. In particular, the RAC tokens or the cryptocurrencies betted will be
collected through the use of a customized smartcontract based on the RoBET digital
wallets. Similarly, the platform will automatically pay on the player RoBET digital account
the amount won against the bookie. Every users, i.e., both players and bookies, can always
access the platform to check and manage their game wallet account. The situation related
to transactions and payments made or received will be always updated and stored in the
blockchain.
Participate in other sportsbook: Bookie sharing
The platform offers the innovative possibility of share betting strategies between
players who share the same passion or who still think they have an interest in acting and
working together. In this case RoBET adapted to the world of sports betting the ethereum
smartcontract technology to enhance the capabilities of a typical and traditional better
exchanger and turn it into a social better exchanger, to create an original and unique Bookie
sharing. In particular, the use of smartcontract will take place as follows:
- each player who want to become a Bookies can publish, through the use of the
RoBET platform, a customized smartcontract which includes the terms and
conditions about the bookie gaming strategies such as for example: the hard cap
that will represents the maximum winning price accepted by the bookie, the
maximum risk accepted; the maximum odds variations related to the average odds,
etc.
- each RAC token holder will have the opportunity to evaluate the convenience of the
proposed smartcontracts by evaluating the bookie specialization, their track record
35 of 56and the specific odds proposed. If the user think it will interest in participate the
bookie business, it can sign the smartcontract becoming a "partner" of Bookies for
the proportional share to the deposit of RAC token carried out in the shared digital
wallet managed by the smartcontract;
- the smartcontract will manage the distribution of winnings and losses by
transferring proportionally the RAC tokens or the cryptocurrencies from the
smartcontract to the digital wallets of the individual players.
Propose your own betting
The RoBET platform allows the users to propose their own bets. In order to propose a new
bet, each user needs to choose a subject such as politics, minor sports even amateur, etc.,
and must specify a title, an unambiguous description of the bet, the closing date, and finally
the source where the platform will check the outcome. The user bets an amount in
cryptocurrencies on one of the two possible outcomes accepted by the platform: positive
or negative. Other players can join the proposed bet with the full amount proposed or even
partially. In the following we show an example without considering platforms fees:
User1 proposed a bet:
- “Will RoBET reach the soft cap in the first 10 days of its ICO? “
- day of verification: 15th March 2018
- source for verification: http://robet.io
User1 bets: YES up to 1 BTC
User2 bets: NO up to 0,5 BTC
User3 bets: NO up to 0,1 BTC
If after the closing day the platform validates a positive outcome the User1 will be paid with
1,6 BTC (User1 1 BTC plus User2 0,5 BTC plus User3 0,1BTC). Otherwise, if the negative
result will be verified, the platform will pay 1 BTC to User2 (User1 0,5 BTC pls User2 0,5
BTC) and 0,2 BTC to User3 (User1 0,1 BTC plus User3 0,1 BTC), User1 will have back its 0,4
BTC not covered by others players. The fee of the platform for these service will be 0,1% of
the winning prize.
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