When the world first started talking about cryptocurrencies and blockchain technology, monopolies took it as a threat, and for a good reason: The existence of cryptocurrencies itself has a potential to disrupt the established financial system, providing significantly more transparency in financial operations, reducing transaction cost, and increasing the availability of small businesses to customers. All of those factors can lead to the decrease in traditional monopolies market power and profitability. And the gambling industry is not an exception as for a very long time the heavily regulated licensing system was basically a greenhouse for growing sportsbooks monopolies, allowing only “the chosen ones” to thrive, dictating the rules to the customers, and forcing players to pay platform fees and bookmakers’ margins that overtime got exponentially higher.
But these days are over with the creation of Dexsport – the first of its kind, a fully decentralized betting tool that runs on the world’s largest blockchain called BNB Chain. The platform keeps gaining popularity among professional sports bettors who started to realise the benefits of using this Web3 sportsbook for sports betting. One of the unique features of the platform and one of its main advantages over traditional bookmakers and betting exchanges is a shared liquidity pool: All of the tokens deposited on the platforms or withdrawn from it go through it. When a user makes a bet their crypto gets deposited into a common pool. If the bet is lost, coins remain in the pool. If the bet is won, winnings get pulled out of the pool and distributed to the user. This helps to solve the main problem of traditional betting exchange platforms, which is low liquidity, that causes a long (sometimes hours long) wait for a deal when laying a bet and low coefficients. Shared liquidity pool eliminated this problem completely, making it very easy, even for newbies, to wager on sports; all a user has to do is to place a bet on a stable coefficient. There are BNB Chain, Polygon, OKC and Avalanche-driven pools available on the platform, suggesting a wide range of cryptocurrencies to use, and making depositing and withdrawal of funds fast and smooth.
But that’s not the end; being a fully decentralised betting platform, it does not fall under the “Know Your Customer” guidelines, providing users full anonymity and security. Unlike traditional bookmakers, Dexsport will not ask you for your ID, Social Security Number, bank information and other identity documents. The only thing needed from a user for setting up the account is connecting their Web3 wallet to the platform and topping-up the balance. There are no regional limitations and restrictions, no sanctions against citizens of certain countries and no government control over this service, which makes betting on this platform easily available for people all around the globe. Dexsport supports various cryptocurrencies such as Binance USD, USDT, MDAO, Wrapped BNB, 2CRZ, LAUNCH, as well as DESU, the platform’s native token that is accepted for exchange by PancakeSwap and Kanga Exchange.
All of that makes Dexsport a very promising project that can be a strong opponent to the giants of centralized sports wagering business, disrupting the gambling monopolies.
Based on the materials provided by https:/mainnet.dexsport.io
