Rafael Groswirt, CEO at NoLimit Technology (CRYPTO: NLC2) ($NCL2) (“NoLimit”), joins the New to The Street TV, explaining to Anchor Jane King and viewers about the NoLimitCoin’s betting protocol blockchain. Rafael explains how centralized sports betting platforms work, whereas money is on a single platform in a custodial account. Players on legacy sports betting platforms must submit to lengthy verification procedures to deposit or withdraw their funds in fiat currencies. NoLimitCoin is different because it is a decentralized platform with the end-user having total control of the money held in their wallet. Betting funds are immediate except for the normally KYC (Know Your Client) verifications when opening accounts. The NoLimitCoin platform’s “Smart Contract” allows end-users to make multiple bets on several different sportsbook sites, not locking betters into only one site. The end-users receive their winnings into their crypto wallets, and NoLimit receives the platform fees. Rafael explains how the Company must be fully compliant with all State and Federal betting laws, rules, and regulations. He talks about the recent and pending approvals in overseas jurisdictions. The “Smart Contract” on betting wagers held in a decentralized platform makes NoLimitCoin a unique and user-friendly experience currently unavailable with large betting sites. DraftKings and FanDuel, the two most prominent sports betting sites, now control 90% of the industry and hold the majority of $5B in betting deposits. Rafael explains NoLimit’s goals of being the most attractive betting platform regarding cost, efficiency, and return for money. Viewers can learn more about NoLimit at https://nolimitcoin.org/.
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