The middleman is losing the battle and the technology allows us to connect better than ever before and this is the reason why crypto sports betting is more and more popular. Bitcoins, cryptocurrencies, blockchain technology will shape many markets and industries. This is not a prediction, this is a reality. It is happening now.
Many Sportsbooks are unfair middlemen
Sportsbooks control the game now and this is completely fine for most recreational bettors. Many of them are very fair, let’s be honest here. Sportsbooks were initially not made to build markets, where professionals will trade there, but the idea was to offer some kind of entertainment, which a gambler is willing to pay.
But the game has changed and the whole industry is growing. The betting markets are sharper, sports betting models are used more than ever before, professional gamblers and winning bettors grow every year. The sports betting industry is becoming a serious market like the stock market. Many who live professionally from betting are asking for changes.
What bettors don’t like about current traditional sports gambling sites
Traditional gambling sites and sportsbooks are fully centralized companies. They set the rules, they set the limits, they control the prices on the market (odds), and many of them without any regulations.
But the basic concept is this:
- Sportsbooks offer Free Bets, Welcome Bonuses, and Promo Codes to attract players
- They have full control over the rules, payment options, markets, bet types, the odds, and even payouts
- After they take bets, they move the odds or even close the market if they think this is a good thing to do at that moment
- Pay the winning bets
The issues with current Sportsbooks
- Centralized – all sportsbooks are centralized, which means, that they can set and change the rules as they want.
- Unfair odds – “the house always wins” because of unfair odds, which is known as vig or margin. This is their commission that they take. But most sportsbooks offer completely unfair odds and have an unfair advantage in the market.
- Country restrictions – legalizations, restrictions, licensing, and all kinds of problems connected with bettors’ location. Sports betting is a growing industry and because of locations many bettors must accept the worst sportsbooks or they can not even bet.
- Identification – Many bettors want to stay anonymous, but they must give their personal information to these sites
- Unreliable – Not all, but many sportsbooks are not reliable, untrustworthy
- Limiting and banning sharp bettors – this is a common practice by many bookmakers and it’s something that is done a lot and is considered normal.
No Limit, Decentralized, Fair Crypto Sports Betting on Blockchain
What if I tell you that there is a solution to this in the future?
I invested in Blockchain Crypto Sports Betting Project – Wagerr
Bitcoins and cryptocurrencies are more and more popular, especially in 2021. But for me, the whole story about bitcoins began in 2017, when I already saw that combination of blockchain technology, bitcoins (or other crypto sports betting tokens) could be the perfect solution to many problems that sports bettors face now.
Somehow I found the Wager Crypto Sportsbook and after I explored their White Paper, I decided to invest in the ICO (initial coin offering) of this company in 2017. Not because I wanted to make a huge profit from trading WGR coins, but more because I believe in this. I believe that this can be a solution to the sports betting world, which I am part of it. I simply wanted to support this crypto sports betting project for a better future, fair and easier betting.
The Keystone of Decentralized Sports Betting
- Fair odds
- Betting Exchange
- Open Source
- Wallets on blockchain
- Smart contracts control bets and payouts
Why this is the answer to traditional sportsbooks?
Crypto Sports Betting Sites like Wagerr are based on blockchain and open source. The odds are fair and come with a small commission that has to be paid to developers, so the blockchain and the whole system works perfectly. They act like a betting exchange, where you don’t bet against a company that set unfair rules, but against other bettors. Someone can say, that we already have betting exchanges like Betfair. Yes, that’s true and many of them are great…
But the problems with betting exchanges are country restrictions and anonymity. This is where next-generation blockchain betting sites will have the advantage. Betting is fully anonymous and their payments are not controlled by banks or some other authority.
In other words, sports bettors don’t need to worry about their bets or accounts being limited, their payouts not paid, country restrictions, or staying anonymous.
Wagerr – No Limit Decentralized Sportsbook
Wagerr is currently the #1 decentralized blockchain crypto sports betting sportsbook. I was supporting that idea back then and I will keep supporting this idea in the future. Running a betting exchange on a blockchain, best odds, full anonymity and smart contracts is the dream of every bettor. It sounds like perfect sports betting world.
How to bet on Wagerr?
Go to Wagerr and Click “GET STARTED” on the top right corner.
If you are the first time, you will have to create an account, which is fully anonymous:
- No email address
- No passwords
After you click on Create Account, you will get 12 seed words, that are generated automatically.
IMPORTANT – Seed Words
A very important thing to do is to write down these 12 words and never lose them. Along with anonymity and decentralization, it comes also a responsibility.
Betting on Wagerr is possible only with WGR. This is a unique token that is used for betting on the Wagerr blockchain. Once you upload WGR, you don’t need to worry about withdrawals, because everything is fully automated, immediate, and transparent.
Mobile phone betting
The Wagerr mobile app act as a WGR wallet and a betting app in one. You can send, store, and receive WGR tokens. Betting on the Wagerr network is available directly from mobile phones.
Disadvantages of Crypto Sports Betting Sportsbooks
All betting exchanges have the same problem – the liquidity, which means, that if you bet on Team A, there must be a real person who is betting the right amount on Team B. Only in this case, such a bet can happen. When it comes to big events, major leagues, and popular bet types, the betting exchanges can work pretty fine.
But the problem starts especially with smaller markets and betting exchanges with not many bettors.
Volatility in Crypto Markets
Betting with tokens like WGR is still a highly speculative business, because of the volatility. Your betting profits also depend heavily on the price of this token, which must be later sold on crypto exchanges.
Too complex and still early
Let’s be honest here… most sports bettors just want to bet and don’t want to deal with tokens, cryptocurrencies, exchanges, understanding the wallets, blockchain, smart contracts, etc… The focus is currently somewhere else.
The intention and the idea of this type of crypto sports betting are perfect for every single sports bettor. It is not controlled by shady sportsbooks, it fully anonymous, the best odds available, betting without a middleman,… but the reality is that we are still early.
At this moment most sports bettors don’t see any benefit in betting on such crypto sportsbooks and there is still a long way to go before we will all accept such types of sports betting and gambling. No matter how good the whole thing looks in a theory, it is still not perfect at this moment. Even those sports bettors who are familiar with betting with bitcoins, rather bet with crypto on well-established leading bitcoin betting sites.
It’s still early…
But I am believer, that once in the near future this could become a standard for sports betting. The future has never looked brighter for the sports betting industry, for blockchain and bitcoin-related betting. Young generations of sports bettors are growing up with technology, esports betting, cryptocurrencies,… and they will be the first who will massively start betting on sports with crypto.
If decentralized Crypto Sports Betting Bookmakers are massively adopted in the future, this will shake the whole betting industry and the winners will be bettors like you and me. We will see.
- I accept Terms and Conditions