The online gambling market has been steadily growing over the last few years, with Zion Market Research estimating that the sports betting industry alone will be at a $155 billion valuation by 2024, implying annual growth of over 10%.
The online gambling industry is growing despite having a number of setbacks that most players don’t seem to realize are really there. Most platforms rely on a central platform that’s heavily regulated and, as such, often limits availability and makes players’ lives harder.
Why the Online Gambling Industry Is Being Held Back
Centralized online gambling platforms often charge significant fees on bets and place high margins to collect as much money from players as possible. On average, online gambling platforms have a margin hovering around 7%.
Since these platforms are heavily regulated, and some jurisdictions aren’t too fond of sports betting or other gambling activities, they have to restrict availability in several countries and regions. Often, platforms are only available in a specific region after regulatory costs force fees to go up.
Players’ data isn’t safe on these platforms as well. State revenue services legally oblige centralized platforms to share player data so they can ensure taxes are being paid on winnings and avoid money laundering.
These regulations force platforms to enforce strict know-your-customer (KYC) and anti-money laundering (AML) checks. Players have to, as a result, provide information necessary to identify them and often prove where their funds came from to play or withdraw earnings.
Topping it all off, transparency is an issue: some platforms will do everything they can to avoid paying out large sums. Their strategies including verifying players’ identities in as many ways as possible, ask them to prove where their funds came from, and even limit their betting to keep them from winning more.
After jumping through hoops to get your money, they may even block your account to ensure you don’t cost them any more money. All of these hurdles are keep the online sports betting industry from going, as players aren’t seemingly the priority.
Enter Sportbet.one, a decentralized, blockchain-based online betting platform that fixes every single one of these problems.
Why Sportbet.one’s Decentralization Makes a Difference
Sportbet.one’s decentralization makes a difference in the online sports betting industry because, first and foremost, it allows players to bet from anywhere in the world, as there is no central authority governing the platform: it cannot be geographically restricted.
On top of that, the lack of intermediaries and central operators means the platform requires less operating costs. The savings are passed onto the players, who have to pay smaller fees on every bet. While direct deposits are the norm with centralized sportsbooks, decentralized platforms don’t need to control your funds for you to bet.
As the platform is decentralized, there’s no need to go through KYC or AML checks, nor is there a need to submit documents or any other personally identifiable information: there’s no central entity behind the platform that’s would process that information.
For a truly decentralized gambling experience, users should log in to the platform via their EOS wallets. Their connection is made through a pseudonymous entity on-chain, and nothing else can be tied to them.
Payouts on Sportbet.one are instant: the platform does not control your funds at any point, as it relies on smart contract technology to determine who won a bet and process payouts: as soon as it’s clear you won the bet, you get paid.
Why Choose Sportbet.one
Sportbet.one is a blockchain-based gambling platform that doesn’t just offer sports bets but other casino games including slots, blackjack, roulette, and others. Based on the EOS blockchain, all players have to do is sign in via their wallets without worrying about their personal data.
It’s also possible to sign in via social media or with an email and password, without having to go through KYC. Payouts are instant and settled using the EOS blockchain, and can be sent to any cryptocurrency exchange or wallet.
If you do not have cryptocurrency to gamble on Sportbet.one, you can buy it directly on the platform using a credit card, a bank transaction, PayPal, WeChat Pay, and more. Check out all the advantages of anonymous betting on Sportbet.one.