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BackBit can be used as a gambling terminal with provably fair rates, and provable payouts using the blockchain.
- Winnings cashout to same address payments received from, collect your winnings safely by touching a button.
Plus the key universal benefits of the BackBit concept
- Seemless escrow.
- Zero maintenance from point of transaction owner, content is updated and managed from a centralised network.
- Publisher / affiliate / gaming IP owner / house / partner/ etc all receive an immediate and consistent revenue stream. Payouts are infinitely configurable, percentage, how many payees, time of payment, size of payment, all on a set and forget basis. Yet tailor-able whenever the need arises.
- All parties receiving revenue are fully and easily audit-able (all transactions are public on the blockchain as long as you know the payment address) making tax and revenue calculation trivial.
- No cash stored at point of transaction, no cash to steal, empty or sort.
- No credit card details are shared.
- No, or incredibly low fees.
- Immediate payment to unit owner, or centralised unit owner headquarters, great for businesses with multiple machines or multiple locations, or both. Simply put an organisation with 100 machines over 100 locations could all be paying into one centralised audit-able wallet, instantly.
- No unauthorised charge-backs possible (eg after content is used)
- User definable cashout options available, any mix of BTC/Fiat payment possible.
- Separate payment devices (such as a phone) make payment inherently 2 factor secure due to the unique QR code per transaction coupled with the secondary layer of security by using an unrelated secure payment device.