Ethorse – The Sweet Spot between Horse Racing and Cryptocurrency - Coindoo

Ethorse – The Sweet Spot between Horse Racing and Cryptocurrency

Editorial Team Avatar
May 22, 2019
4 min reading time

If you have been to a racecourse, you would love the sight of the striking horses racing. However, the joy of watching poetry in motion can be increased even further. That is if you place a bet on a particular horse and it comes out as the winner. Many of you might also be regular investors in stocks. When one of your stocks zooms up and you book a profit, it’s a joyous occasion for you. And finally, there is the whole thing about cryptocurrency that is all the rage in the last few years. People have won and lost millions based on the appreciation of the value of their Bitcoins or Ethereums.

Bet on Crypto

Now imagine what would happen if all the above aspects were brought together in one place? Say you had the thrill of making money on the bourses. To that, you added the pride of dealing with the latest technology like blockchain or cryptocurrency. And finally, you add the joy of being able to bet just like you do at a racecourse. This is now possible with a new concept called Ethorse.

Introducing Ethorse

It is a trading/betting/racing platform where you can place your bets on a particular cryptocurrency instead of on a horse (or on a particular stock). The cryptocurrency which is used is Ethereum. You can bet on the price of the crypto in a completely secure and decentralized manner.

How Ethorse Works?

If you compare this setup to a horse race, you will find a subtle difference. In a horse race, all individual betters place their bets on whichever horse they fancy during the horse racing schedule. All the money of those bets is then pooled together. Then the betters get their pay-out according to the odds or they get their share of the overall pool of money. At Ethorse, your money gets to work in the same way. Instead of horses, you just place your bet on a particular cryptocurrency.

Benefits of Betting by Ethorse

There are some distinct advantages when you bet using Ethorse. First, you and your money are completely safe and secure. The portal has a smart contract code that is used for the Ethereum blockchain that you use. The keys and codes are not held with any single person. It is completely decentralized, just like trading in cryptocurrency. When you go to a casino or to a racecourse, you are usually expected to put down a deposit. Here there is no such requirement.

How to Get Started with Ethorse?

The first thing to remember is that Ethorse and regular currency do not speak to each other yet. You need to have a stash of cryptocurrency to begin your journey with Ethorse. There are several websites which allow you to open Ethorse accounts. Before you put your first dollar in, please check the antecedents of the website well.

Once you provide the new username you want, you would be prompted for your payment details. The portal will perform 2 miniscule transactions on that account for verification. You are safest and most welcome at exchanges when you use either BTC or ETH. Use your coins in any exchange where Ethorse is being traded.

If you are a keen follower of financial trends, you would have seen how quickly cryptocurrency has occupied mainstream financial discourse. The Ethorse platform gives you an opportunity to ride the galloping horse of cryptocurrency and participate in the gains.

The Overlaps

The world of horseracing has been popular for several decades now. Cryptocurrency has been around for a few years now. But it is zooming in popularity. Ethorse represents a great way for these two worlds to collide. Although it is not the only one. There are other instances of these two-world overlapping.

For example, major derbies around the world have begun accepting payments in cryptocurrency. It is only a matter of time that crypto is becoming mainstream in the world of horseracing.

Author: Ramendra Kishore

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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