Sports Betting Software Provider Pinnacle Advances Blockchain in Gaming With Azuro Project

Sports betting software provider Pinnacle Solution is advancing blockchain use in the sports betting space. It has partnered with the Azuro platform, a decentralized betting solution.

Liverpool’s Mohamed Salah and Roberto Firmino celebrate a goal in a game last season. Betting on soccer and other sports on blockchain-based platforms will get a boost through a new partnership between Pinnacle Solutions and Azuro. (Image: Getty Images)

Through the partnership, Pinnacle will make its sports and eSports prices available to Azuro for further distribution, according to a company press release. Subsequently, operators connected to Azuro’s blockchain protocol will gain access to the feeds.

The Azuro protocol, capable of deployment across multiple blockchains, facilitates interactions between independent data providers and operators. This network reliably offers thousands of net betting markets to end users using smart contracts to facilitate transactions and enhance integrity.

Pinnacle Pioneers Blockchain Betting

As one of the first data providers of the Azuro protocol, Pinnacle Solution will be instrumental in providing its reference pricing capabilities at global sporting events to users. All front-end and back-end activities are processed on-chain securely and continuously.

Azuro bills itself as the first decentralized, blockchain-based betting solution. Tapping into Pinnacle’s network will enable it to advance the use of blockchain in mainstream betting, as well as attract new interest.

This partnership with Azuro is an excellent example of how blockchain can take our industry further. We are excited to integrate our prices into the ecosystem and provide a multi-jurisdictional user base of decentralized bettors with our world-class prices,” said 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 a valuation of $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 for gaming providers and operators. The new Pinnacle solution feed will be added within the next few weeks.

Decentralized Betting Gains Steam

The Pinnacle-Azuro solution is going to expand the use of blockchain in sports betting once it catches on. However, there have been initiatives previously to capitalize on 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 soccer and eSports. Like Pinnacle’s solution, it also runs on Azuro.

All transactions on the site, because of blockchain technology, occur with no centralization and provide anonymity and security for users. In addition, the bookmaker is able to provide fairer odds. It is impossible to alter information once it is written on a blockchain. Therefore, bettors and operators have confidence in the data that is presented, including odds, payouts and more.

In addition to soccer and eSports, there will soon be an opportunity to bet on tennis and MMA on Bookmaker.xyz. To place bets, players need a Web3-enabled wallet, such as MetaMask, to connect to the bookmaker’s platform.

There’s also BetDex, a decentralized sports betting protocol that arrived last November. Its developers are still fine-tuning the system, but BetDex includes former FanDuel executives to give it a stronger start. FanDuel co-founder Nigel Eccles, Varun Sudhakar and Stuart Tonner are spearheading the project.

The post Sports Betting Software Provider Pinnacle Advances Blockchain in Gaming With Azuro Project appeared first on Casino.org.

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