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LOS ANGELES, CA, May 21, 2014 /24-7PressRelease/ -- The world just became a little more social. An old social tradition, sports, has taken social to a whole new level with sports brackets. The possibility of demonstrating sports knowledge for predicting winners and financial gain is too great a thrill to pass up for people of all nations. Recent advances in communications, such as the mobile web and smart phones, have made it possible for people on the other side of the world to follow sports teams and build their own brackets. Financial and legal restrictions, however, have stood in the way of a truly global contest involving sports brackets. All that is about to change.
A new start-up called Mega Justo, based in Panama, just announced the launch of an international quest for the perfect bracket at this year World Cup games in Brazil, which kicks off on June 12, 2014. Entries will have to be received by noon of that day Brasilia Time (UTC -3). A grand prize of $100,000,000 will be awarded in Bitcoin currency (280,000 Bitcoins according to the current exchange rate, subject to change). If no one submits a perfect bracket, then the grand prize will be awarded to an entrant or entrants with the most correct teams in their final positions. In the event there is a tie between two or more entrants, the grand prize will be equally split among the winners.
Representatives from Mega Justo reported that they hope to achieve two goals with this contest:
1) Creation of the first worldwide participation in a sports bracket event, and
2) Providing complete transparency and fairness for ticket holders, thanks to Bitcoin.
The Transparency of Bitcoin
The emergence and stability of Bitcoin was instrumental in the development of this concept. International laws on finance and moving currency have prevented these kinds of contests in the past. However, because Bitcoin is not treated as a currency, it can be awarded as a gift, then converted to local currency in the home country of the winner or winners. Another aspect of Bitcoin that makes it perfect for this contest is that brackets can be posted online at the Mega Justo website and compared to official World Cup Brazil 2014 statistics. As a result of Bitcoin's technical transparency, all the funds collected or spent will be publicly posted for the world to see.
Minimum Tickets Sales and Charity Donations
There are two very unique characteristics about Mega Justo's contest. First of all, a minimum of 99,000,000 tickets will have to be registered before the start of the World Cup or the contest will not be held. Any deposits made up to that point would be refunded upon request. Another unique feature is that any profits from tickets past the 100,000,000 mark will be given to a charity collectively chosen by contestants. Each ticket buys voting rights in selecting the charity.
The promise of the Internet has been a more tightly knit world where people can share what they love despite distance and national boundaries. Mega Justo's global $100,000,000 Social Sports Bracket Contest is a major step toward realizing that promise in a wholly original way.
About Mega Justo
Mega Justo's mission is to transform the world of contests through Bitcoin. The company is passionate about providing fair, transparent and clear contests that combine the excitement of sports to deliver massive prizes, Bitcoin-powered payouts and unbeatable game selection in a simple and easy to use experience.
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