The platform wallet will allow bettors to bet on our web-based platform (and mobile from your browser) as soon as we launch our beta. Our timeline for the mobile app, which will include the wallet, is conservatively set for 2019 - though we internally hope to best this timeline depending on hiring etc.
The platform wallet will allow bettors to bet without worrying about paying transaction costs associated with placing a bet.
Okay I want to understand this fully. The transaction costs of placing a bet is different than the .5% fee I've heard about?
Our fee is actually 2%, this is baked into the odds we offer so you'll be paying $100 to win $98... if there's a matching $100 bet on the other side that loses then they just surrender that $100..... so off of a total of $200 laid down, FansUnite earns $2 which is a 1% margin / vig.
The transaction costs we refer to above are actually Ethereum gas costs, which you would be subject to paying if you elected NOT to use our platform wallet and just sent FAN to our bet smart contracts via metamask or myetherwallet.