I try to stay up to date with all the latest news and developments from Blockchain Projects that offer Sports Betting making a report each month with my personal experience and insights on how this space is evolving.
Market Overview
More news than usual this month with some new releases, trading pairs, and projects moving to 2nd layer. Many projects seem to be jumping on the hottest trends in the crypto space such as wrapped tokens, Governance tokens, NFTS, ...
I covered Exbet back in march this year (Post) as they introduced themselves as the Bitcoin Betfair. Last month they went live on exbet.io and I had a look at it. Being used to crypto bookies like Sportbet.one and Wink.org that don't need account creation allowing users to bet directly from their wallet with no transaction costs. I couldn't get myself to make an account on exbet especially since they don't yet offer the Belgian League and the overall liquidity and activity is just too low while odds aren't anything special. The main reason why it's so hard to get an exchange going is because it needs activity to attract users but users to have activity.
Doing a quick odds comparison (1% commission needs to be subtracted from exbet odds), it is clear that they by no means rival what I have on offer over at my main betting broker Sportmarket Pro
Not many changes have made to the Wagerr bookie the last months. The platform continues to work allowing users to place bets but the experience is just way to far from where it should be as having to sync the blockchain each time just takes way too long for any casual bettor to ever use it. They did jump on the "Wrapped Bandwagon" just like everyone else in the crypto space introducing wrapped WGR (WWGR) which is trading on Uniswap. The way I look at it, everything is just way too complicated and expensive with the ETH Gas fees for this to really do anything for the project.
Something I am keeping an eye of is the fact of tokens actually get burned or minted as for the token to be successful, gamblers can't just beat the bookie which would cause a lot of inflation because of the minted tokens. Last Time I checked the balance was +7,245,966 WGR that was minted because players are winning, by now this has grown back to 9,826,294 WGR which is quite the increase.
I will keep a monthly count from now on...
That is roughly ~75000$ that has been won off the platform by players in total putting the platform at a big loss which token holders indirectly pay for as the supply gets inflated. Not really a healthy situation. Of course, it will go the other way if more money is lost than won, but the system is so exploitable by sharp whales.
SportX partnered up with Matic Network and moved to layer 2 on Ethereum. This is pretty much a must for every Sports Betting project that runs on Ethereum because Gas fees on layer 1 are just impossible to cope with. I have not tried it out yet as my betting activity these days is mostly centered around the Belgian League and corners markets. It is nice to see projects move to layer 2 though.
Degens.com is jumping on the "governance token" bandwagon and created the DEGENS token which have been airdropped to users that used their platform similar to how Uniswap did the airdrop of the UNI token. (see DEGENS Token Airdrop Medium Post)
I like their platform but have not used it since I'm just unwilling to cope with any transaction fees when placing bets which remains the major bottleneck of Ethereum right now.
I have been coming across multiple "Prediction Market" projects but again have not really tried any of them as I can't say I'm a fan of the prediction market idea compared to the traditional bookmaker/exchanges concept. These are the ones on my radar now. polymarket | Omen | Predix Network
Reality Cards is a project that wants to combine NFTs with prediction markets. The project is still in Closed beta but I like the innovative idea regardless if it goes anywhere or not.
Previous Months
Sports Betting Blockchain | September 2020 News & Price Movements
Sports Betting Blockchain | August 2020 News & Price Movements
Sports Betting Blockchain | July 2020 News & Price Movements
Sports Betting Blockchain | June 2020 News & Price Movements
Sports Betting Blockchain | May 2020 News & Price Movements
Sports Betting Blockchain | April 2020 News & Price Movements
Sports Betting Blockchain | March 2020 News & Price Movements
Sports Betting Blockchain | February 2020 News & Price Movements
Sports Betting Blockchain | January 2020 News & Price Movements
Sports Betting Blockchain | December 2019 News & Price Movements
Sports Betting Blockchain | October 2019 News & Price Movements
Sports Betting Blockchain | September 2019 News & Price Movements
Sports Betting Blockchain | August 2019 News & Price Movements
Sports Betting Blockchain | July 2019 News & Price Movements
Sports Betting Blockchain | June 2019 News & Price Movements
Sports Betting Blockchain | May 2019 News & Price Movements
Sports Betting Blockchain | April 2019 News & Price Movements
Sports Betting Blockchain | March 2019 News & Price Movements
Sports Betting Blockchain | February 2019 News & Price Movements
Sports Betting Blockchain | January 2019 News & Price Movements
Sports Betting Blockchain | December 2018 News & Price Movements
Sports Betting Blockchain | November 2018 News & Price Movements
Sports Betting Blockchain | October 2018 News & Price Movements
Sports Betting Blockchain | September 2018 News & Price Movements
Sports Betting Blockchain | August 2018 News & Price Movements
Sports Betting Blockchain | June 2018 News & Price Movements
Sports Betting Blockchain | May 2018 News & Price Movements
Sports Betting Blockchain | April 2018 News & Price Movements
Let me know if there is anything major I missed last month or if there are some more promising projects I have yet to take a look at. Thanks!
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