Logan Paul faces backlash after $1M bet proposal

• Logan Paul will face Dillon Danis in a bocxing match on October 14.
• Paul, a social media personality and WWE star, is willing to bet $1 million he will win. The bet has attracted widespread criticism.
• Meanwhile, decentralised betting platform Chancer has raised over $1.3 million in presale.

YouTuber and WWE personality Logan Paul is buzzing for his next event &- a boxing bout against Brazilian Dillon Danis. The match is set for October 14 in Manchester, England. Paul, whose YouTube fame has catapulted him into lucrative deals in combat sports, is confident he will beat Danis and is willing to bet $1 million on it.

The bet proposal has been heavily criticised across crypto &- we tell you why and explain why legit bets such as Logan Paul’s could find a home on a new blockchain-based betting platform called Chancer.

Logan Paul’s $1 million bet &- what’s the criticism?

28-year old Logan Paul has had some high-profile matchups, including an exhibition bout against Floyd Mayweather. His appearances on WWE have also been great shows.&

Now he’s hyping up his upcoming boxing match against Dania, a 29-year old jiu-jitsu black belt holder and trainee of former UFC champion Conor McGregor.

Paul is confident he will beat the Brazilian and has proposed a $1 million bet with McGregor.&

You guarantee a win? I’ll bet you $1,000,000 I beat Dildo Danis on October 14 @TheNotoriousMMA pic.twitter.com/cktDrH6jWa

— Logan Paul (@LoganPaul) August 14, 2023

The move has been heavily criticised across the crypto community, with many criticising the social media personality for considering such a bet when he hasn’t followed through with a promise to reimburse victims of his CryptoZoo (ZOO) project.

CryptoZoo launched in 2021, promising a cryptocurrency game powered by the ZOO token and NFTs. The project rallied (read more here) as NFTs exploded onto the scene during the bull market. However it has largely failed to live up to projections and Paul said earlier this year that he’d make it right with the affected investors.

That hasn’t happened yet and the latest events where he’s willing to bet $1 million on a match’s outcome has left many unamused. Shouldn’t he be using that money to refund CryptoZoo NFT buyers? Danis himself had a go at Paul via a post on X (fka Twitter).

Bro has the money to bet $1 million but can't pay off the people he scammed, that's crazy 😂 https://t.co/icaMQKljB5

— Dillon Danis (@dillondanis) August 14, 2023

While Logan Paul comes under fire for his crypto “scam”, the one thing that one can take from his bet proposal is that betting is here to stay. And so is crypto and, likely, the new betting project Chancer.

What’s unique about Chancer?

The gambling and betting sector is one major global industry, currently projected to grow double figures annually for the next ten years. Traditional bookmakers will no doubt see this growth. But investors are taking note of a potential game-changer for the whole industry &- Chancer?

Chancer is an online betting platform built on blockchain and offering a revolutionary model that could transform betting for millions of people. This is because unlike centralised betting companies, Chancer will allow users to create their own bets on thousands of events, from mainstream sports, esports, and entertainment and so on.

On Chancer, users can set their own odds and play by their own rules, including live streaming bets to invite others from across the globe to join. The peer-to-peer platform could therefore grow into the leading decentralised social betting platform in the world.

Learn more about how Chancer works here.

Global investors flock to Chancer, over 31 million tokens sold in weeks

Chancer is looking to disrupt an $80 billion global gambling industry with its new blockchain-based betting platform. Investors have taken note of the potential for the project’s revolutionary offering and are aggressively allocating funds to help bring it to the market.

That sentiment is what’s likely behind the huge interest in the native $CHANCER token, whose presale has been one of the few highlights of an otherwise dull summer for crypto. So far, investors have scooped more than 31 million $CHANCER tokens, helping to raise over $1.3 million.

The presale currently has $CHANCER tokens priced at $0.011 and investors can buy with ETH, BNB, USDT and BUSD.

The post Logan Paul faces backlash after $1M bet proposal appeared first on CoinJournal.

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