eSports Platform To Launch Peer-To-Peer Betting As It Consults Malta's Government

An eSports platform which allows users to challenge each other instead of betting against a bookmaker is preparing to integrate blockchain technology into its newly relaunched website.

HERO is a Vienna-based company that has the goal of bringing back the social element to betting.

Gg, an existing platform specializing in eSports prediction and fantasy that has already amassed more than 200,000 registered users.

Christina Roth, Head of Communications for HERO, told Cointelegraph: "Our goal is to reintroduce a social element to betting and make it fun and safe for everyone. We see the blockchain as a huge advantage for our industry, helping us to foster what has always been important to us personally: transparency, fairness, and consumer protection."

"There is no need for bookmakers anymore"The HERO Network's launch comes at an exciting time for the eSports industry.

Goldman Sachs is expecting that the market is going to grow by a compound rate of 22 percent in the three years to 2019 - transforming eSports into a "One billion dollar opportunity."

The NBA recently announced plans to launch its own eSports league in 2018, and broadcasting behemoths such as ESPN have started to show eSports tournaments on their channels.

Although revenues per eSports fan are modest at the moment, they are growing.

Users who create a contest - for example, the opportunity for others to bet on the outcome of an eSports event - will be able to set their own reward, with a customized percentage of the total amount wagered being paid into their account.

Currently, HERO is advising Malta on how cryptocurrencies could be used in the gaming sector and has just finished their feedback on the second draft of the license.