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Augur’s prediction for gambling – how does it work?

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Cryptocurrencies and their underlying technology, Blockchain, are slowly gaining application in virtually all sectors of the global economy. The gaming and gambling industry hasn’t been left out. Cryptocurrencies and platforms have been developed that will make it easier for gamblers and gamers to better participate in a fair and decentralized system.

One of the platforms in this industry is Augur and it has gained widespread acceptance since its establishment.

What is Augur?

  • This is a decentralized prediction market platform that makes use of the Ethereum network. The prediction market allows you to bet on the outcome of future sporting or entertainment events. If successful, you get monetary prizes for the correct predictions. In the prediction market, the less likely the chance of an event occurring, the higher the reward earned for predicting its success.

  • Augur utilizes “The Wisdom of the Crowd” from members of the platform to establish real-time predictive data which most of the time is more accurate than the predictions of leading experts in the field.

  • By making use of the blockchain technology in the prediction market, Augur provides its users with an option that will see them pay fewer fees, have greater accessibility, and gain better accuracy than most markets.

How does Augur work?

Creating markets

  • In order to create a market on Augur, you will need to spend a small amount of Ethereum. The market can be anything as long as it is speculative. E.g. “will the price of Bitcoin bounce back to $19,000 before the end of the year?”

  • After creating a market, you can determine the taker and maker fees. Taker fees usually range between 0% and 12.5% while the maker fees can’t be more than 50% of the taker fees. As the creator of the market, these are the fees you will receive by the time the market closes.

  • In order to draw in more participants, it is advised that you keep your settlement fees low. However, the fees need to be high so as to cover the initial Ethereum payment you made while creating the market.

Trading event shares

  • Apart from creating prediction market, you can also carry out several activities on Augur. One of them is to buy and trade shares which represent the odds that the even in a market will occur. For instance, if there is a market that reads, “will Bitcoin plunge below the $5,000 mark this year?’ and the subject interests you, consider the fact that Bitcoin and other cryptos are facing major regulations in most country.

  • If you are confident that the event will happen, you can put in a bid to buy say 100 shares of the market at 1 ETH per share. Keep in mind that shares are worth between 0 and 1 ETH. The higher you pay for an event, the more likely you believe that the event will occur.

Augur Platform

  • Using the Augur platform, you can earn money by predicting an event correctly and holding shares by the time the market closes. The amount you pay is calculated using this formula;

  • Payout = Number of shares X Price / Number of ticks

  • The number of ticks, in this case, is the number of possible points that exist between the minimum and maximum prices in the market.

  • From your winnings, you pay a settlement fee. The creator fees and the reporting fees that is utilized in the Decentralized Oracle System are part of the settlement fees. The larger your earnings though, the larger the settlement fees you pay. Read more about it here: Augur Coin Guide 2018 | Read This and Become an Augur Guru.

REP (Reputation) tokens

  • This is the coins that powers Augur Decentralized Oracle System. You will have to stake the REP before you can predict the outcome of an event in a market.

  • After a market closes, you report the outcome of a certain event and put up some amount of REP. The REP here will back your claim. If the event hasn’t happened yet, then you will mark the event as Invalid since you won’t be able to report on its outcome.

  • The market gives you a total of 27 days after the closure of an event to submit your report about it. If your event report matches that of the larger percentage of the market, then you will be given back your REP in addition to a portion of the reporting fees. To know the reporting fees, use this formula,

  • Reporting Fee = Current Reporting Fee X (Augur Open Interest X 5 / REP Market Cap)

  • Every 30 days, the platform calculates the new reporting fee. Know that the higher the REP you stake when submitting your report, the higher the reporting fee you stand to earn if you report correctly.

Augur Detailed Reporting Diagram

  • Augur has also made it possible for a designated reporter to report the market events. The creator of the market can assign a reporter to report the proposed outcome of the market. This is usually done three days after the market has closed.

  • As a reporter, you are given extra three days to challenge the proposed outcome reported by the designated reporter. If the proposed outcome of the designated reporter goes unchallenged, then the market will enter the next reporting round, thus bypassing the normal 27-day reporting period.

  • To challenge a proposed outcome, you will need to stake some REP. The REP used in this case is dubbed dispute bond. If you successfully challenged the proposal and the proposed outcome is reserved, the REP you assigned as dispute bond will be given back to you.

Where to buy REP

  • There are several exchanges that sell REP tokens. Bittrex, however, is the recommended exchange at the moment.

  • To buy REP, you will have to fund your account with BTC or ETH. You can trade Bitcoin or Ethereum for the REP coins. You can also purchase REP tokens directly on Kraken.

Where to store REP

  • There is no specific Augur wallet at the moment. However, you can store it in online wallets such as Jaxx and Exodus. It is recommended, however, to save your REP tokens in a hardware wallet. Hardware wallets Ledger Nano S and Trezor support the REP coins.

Conclusion

Augur is one of the oldest decentralized projects out there and is amongst the first to be built on top of the Ethereum network. It is a decentralized prediction marketplace and event likelihood trading platform.

It became popular due to “The Wisdom of the Crowd” approach it uses and is a highly reputable predictive platform.

To know more about blockchain-based platforms, browse through our site and read more amazing content.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Nexus International, Led by Gurhan Kiziloz, Secures Gaming License with $1.45 Billion Target for 2025

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Nexus International, Led by Gurhan Kiziloz, Secures Gaming License with $1.45 Billion Target for 2025

Gurhan Kiziloz, the key figure behind Nexus International, is strengthening his foothold in the online gaming industry, driving the company’s aggressive expansion strategy. Under his leadership, Nexus International manages Megaposta and Lanistar, two platforms that have significantly contributed to revenue growth. In 2024, the company recorded $400 million in revenue, and with Kiziloz’s expansion efforts, forecasts indicate that this figure could surge to $1.45 billion in 2025.

A crucial step in this trajectory is securing a Brazilian gaming license, granting Nexus International entry into one of the most regulated betting markets worldwide. Obtaining this license required compliance with strict financial and operational standards set by Brazilian regulators—an undertaking Kiziloz personally oversaw as part of his broader goal to establish the company in regulated spaces. With this authorization, Nexus International can legally operate and scale within Brazil, a market now focused on restricting unlicensed operators.

Kiziloz’s Influence on Nexus International’s Growth

Kiziloz has engaged in various industries, with his transition into online gaming reflecting a strategic response to shifting regulatory landscapes. Before stepping into the online gaming sector, he developed Lanistar as a fintech company, but under his leadership, it has since evolved into the gaming space. This shift aligns with his broader approach to restructuring and scaling business models in response to market demands.

His direct involvement has fueled the company’s expansion across Latin America. Megaposta has already established a presence in multiple countries, and with the newly acquired Brazilian license, Kiziloz has positioned Nexus International for further market penetration. His role has been instrumental in securing partnerships, ensuring compliance, and crafting strategies to compete with dominant players in the gaming industry.

However, this approach is not without its challenges. Brazil enforces stringent regulations covering advertising, taxation, and consumer protection. Any compliance violations could result in financial penalties or even the revocation of the company’s license. Kiziloz now faces the responsibility of maintaining Nexus International’s legal standing while navigating an increasingly competitive and tightly regulated market.

Strategies for Expanding Nexus International

Under Kiziloz’s leadership, Nexus International is targeting regions where legal online gaming is gaining traction. Megaposta has already gained significant market share in Latin America, and the newly obtained Brazilian license enables the company to operate openly, unlike unlicensed competitors who face restrictions.

Lanistar’s transformation from a fintech venture into an online gaming platform was a calculated step, allowing Nexus International to solidify its presence in sports betting and casino gaming. While Lanistar has shifted focus, it continues to operate as a fintech platform under Lanistar.app, maintaining its presence in the financial sector. By managing two platforms under the same corporate umbrella, Kiziloz diversifies revenue streams and expands market reach.

Brazil’s updated gaming regulations have created a landscape where only licensed operators can legally provide betting services. By securing Nexus International’s position within this regulatory framework, Kiziloz ensures the company can advertise, form local partnerships, and expand its customer base without the legal uncertainties of unlicensed operations. However, this also means facing higher operational costs and stricter regulatory constraints.

The Financial Targets & Hurdles Facing Kiziloz

Kiziloz aims to push Nexus International’s revenue to $1.45 billion through a combination of geographic expansion and increased user engagement. His strategy hinges on drawing more users to the company’s platforms and enhancing participation in sports betting and casino games, two of the most lucrative segments in the online gaming sector.

Yet, the industry presents several hurdles. Regulatory environments remain fluid, with governments frequently revising tax structures, imposing new restrictions, or introducing additional compliance measures. Any legislative changes in Brazil could directly impact Nexus International’s profit margins.

Additionally, competition remains fierce, with well-established gaming brands boasting stronger customer loyalty and larger marketing budgets. To compete effectively, Nexus International must prioritize user retention, offer exclusive features, and implement strategic marketing efforts—while still adhering to regulatory limitations.

Cybersecurity also poses a significant challenge. Online gaming platforms are frequent targets for fraud and cyberattacks. To protect user data and maintain trust, Kiziloz must ensure substantial investment in security measures. Any failure in this area could lead to financial losses and reputational damage.

Future Expansion Plans for Nexus International

Beyond Brazil, Kiziloz is exploring opportunities to extend Nexus International’s presence into additional regulated markets. Several countries across Europe, Latin America, and Asia are refining their online gaming laws, and Kiziloz is actively evaluating the most viable regions for legal expansion.

Securing new licenses is a complex, time-intensive process requiring adherence to different tax regimes, advertising regulations, and consumer protection standards. Kiziloz must oversee negotiations, obtain legal approvals, and implement regional marketing strategies to ensure seamless entry into new markets.

While the Brazilian license has paved the way for growth, Nexus International’s success will ultimately depend on Kiziloz’s ability to navigate industry challenges. Maintaining compliance, mitigating risks, and competing against larger players will be crucial for sustaining momentum. His approach to regulatory adherence, strategic marketing, and technological investment will shape the company’s trajectory in the years ahead.

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SOFTSWISS Joins Pink October Movement

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SOFTSWISS Joins Pink October Movement

SOFTSWISS, a global tech company with over 15 years of expertise in iGaming, supports the global Pink October initiative to attract attention to preventing breast cancer.

This year’s Pink October campaign at SOFTSWISS is themed “A Minute Today, a Future Ahead” and emphasises the importance of early detection and preventative care. Breast cancer is the most common cancer affecting women, and early diagnosis is key in the fight against the disease. When it is noticed early, the 5-year relative survival rate is 99%.

Early detection involves doing monthly breast self-exams and planning regular clinical breast exams and mammograms. Half of the 2,000 SOFTSWISS employees are women, and the company will refund each of them for ultrasounds and mammograms in October and November.

Pink October at SOFTSWISS offers a wide range of activities throughout the month. In addition to reimbursing for medical examinations, an online webinar on mental health will provide valuable insights for those who face the disease. To support the international charity movement “Butterfly Support Mission”, women from SOFTSWISS will take part in a themed race.

The company’s employees also personally support the initiative. To further raise awareness, prominent female influencers from the SOFTSWISS community share information about the campaign across social media, amplifying the message of self-care and vigilance.

“Health is a crucial value beyond everything. Here, at SOFTSWISS, we aim to help and support our employees’ well-being and health every day. By promoting the Pink October initiative, we want to stress the importance of well-timed self-care and make this issue visible both within the iGaming industry and beyond,” shares Chief Marketing Officer at SOFTSWISS, Valentina Bagniya.

Notably, the iGaming industry recognised SOFTSWISS’ strong dedication to ensuring the best working conditions for its employees. A few weeks ago, SOFTSWISS received the esteemed accolade “Employer of the Year” at the SBC Awards.

Supporting the Pink October initiative for the second year in a row, SOFTSWISS continues to lead by example, emphasising the importance of preventive health measures and community support. Through this initiative, the company hopes to inspire its employees and society to take action today for a healthier tomorrow. 

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

 

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THE EVOLUTION OF GAMBLING IN SWITZERLAND – FROM PROHIBITION TO A DIGITAL BOOM

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THE EVOLUTION OF GAMBLING IN SWITZERLAND – FROM PROHIBITION TO A DIGITAL BOOM

 

Switzerland, renowned for its picturesque landscapes, exquisite chocolates, and financial prowess, is also home to a turbulent gambling landscape that has undergone significant changes throughout its history. Once considered immoral and prohibited on religious and social grounds, gambling in Switzerland is now steadily embracing change and adapting to modern times.

 

THE HISTORY OF SWISS BETTING

Over the centuries, the Swiss have dabbled in various forms of betting. The first Swiss casino opened in the 19th century, quickly establishing itself as a vital social and cultural hub. However, this golden era was short-lived, as just a month after the opulent Interlaken Casino’s debut in 1859, the Cantonal Government imposed a blanket ban on all forms of gambling.

Despite this prohibition, the Swiss ingeniously continued their gambling activities by wagering on a game known as “petits-chevaux”, involving miniature metal horses racing on a small circular track.

It wasn’t until the early 1990s that Switzerland began to slightly relax its gambling prohibitions, signaling a shift away from the long-standing moral stigma attached to gambling. Nonetheless, even with new legislation in place, the ban wasn’t fully overturned, allowing only limited-stakes casino gambling.

 

THE CURRENT SITUATION

As time progressed, the digital age brought forth online forms of betting, including sports betting, which led Swiss punters to spend substantial amounts abroad.

Motivated by both economic considerations and the rising number of gambling addicts, Swiss politicians decided it was time to modernize their outdated gambling regulations.

In January 2019, the Swiss government introduced a new Gaming Act that legalized online betting for the first time while blocking all foreign operators. The primary goals of the new gambling law were to enhance protection against gambling addiction and ensure a portion of gambling revenue was allocated for public welfare, all while adapting to the challenges of the digital era.

Consequently, Switzerland now boasts one of Europe’s strictest gambling regulatory frameworks, allowing only two public operators, Swisslos and Loterie Romande, to provide sports betting services. Similarly, online casino services are exclusively offered by licensed brick-and-mortar casinos.

To date, nearly 400 domains have been added to the official list of blacklisted sports betting operators, and Swiss telecommunication service providers automatically block these domains using DNS blocks.

While domain blocking is a deterrent measure, it has its limitations. Technologically adept punters can easily bypass these blocks using VPN clients. At the same time, blacklisted operators persistently seek ways to provide their services to Swiss customers, often resorting to frequent domain name changes.

With the surge of unregulated online betting in Switzerland, the need for reliable resources such as BookiesBonuses, which help Swiss punters navigate the complex betting landscape and discover the best betting options has never been more critical.

 

THE FUTURE OF GAMBLING IN SWITZERLAND

Switzerland’s gambling future remains uncertain due to stringent regulations that raise questions about their effectiveness and the pressing need for regulatory reforms that balance player protection with fostering a competitive and vibrant betting landscape.

While the intent behind these measures is to safeguard citizens, they have inadvertently limited options for Swiss punters. Consequently, a growing number of individuals have turned to international bookmakers known for providing a broader range of betting options, more competitive odds, and attractive bonuses.

In this ever-evolving industry, staying well informed about the latest developments, regulations, and the most reputable offshore bookmakers is crucial for those seeking the best sports betting experience. This knowledge empowers bettors to navigate the shifting Swiss betting scene and make well-informed decisions.

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