Dexsport – Pioneer Decentralized Betting Platform

The post Dexsport – Pioneer Decentralized Betting Platform appeared first on Coinpedia Fintech News

Users of betting platforms are increasingly using cryptocurrency. They like the convenience of paying for bets and the speed of topping up their accounts, but the main advantage of crypto in betting is privacy.

Betting and cryptocurrencies

Sports betting is one of the fastest-growing online industries with an average annual growth rate of over 14%. CMI estimates that the global betting market will top $44.5 billion in 2023 and grow to $116.7 billion by 2032. Growth is fueled by the development of mobile applications and the availability of betting platforms via the Internet. It allows users to place bets comfortably from their homes or on the go using their smartphones.

This has significantly expanded the sports betting audience and reached a wider audience enhancing sports amateurs and bettors. The online sports betting market operates worldwide, with platforms serving customers from different countries.

In the last few years, betting services have begun to actively accept cryptocurrency for payment. This has allowed betting platforms to reduce payment processing costs. This is relevant for global platforms operating in many regional markets. This turned out to be convenient for users as well. Payments are processed almost instantly, and there are no delays, especially when it comes to cross-border payments. Crypto also serves as an effective instrument against the major challenges of online betting services.

On platforms that don’t accept crypto, players often face problems like delays in depositing or withdrawing funds, extra service fees, and lengthy verifications by their banks. With cryptocurrencies, they literally top up their account during the game so they can immediately place a bet on the outcome of the competition.

However, the main advantage of cryptocurrencies for betting fans is the highest level of privacy it offers. However, this anonymity is not available to users of every betting platform that supports cryptocurrency transactions. Truly private betting is only available to users of decentralized betting platforms.

Their players do not replenish their wallets, do not disclose personal data to third-party services. All interaction is carried out through wallets and smart contracts. This also guarantees that the winnings will be paid out accurately since the smart contract automates payments in accordance with the bet.

How do decentralized betting platforms work?

Dexsport is a pioneer in the niche of decentralized betting platforms that provide a high level of anonymity to users while offering a vast list of activities for betting. Bets on Dexsport are available at sporting events such as tennis, football, baseball, basketball, and e-sports games like Dota 2 or Counter-Strike 2. If the user does not find a suitable game for betting, he can go to the games section and spend time playing entertaining games.

Users do not need to create an account or provide any personal information – no name, no e-mail, no postal address, no phone number. They can specify them, but this information is not obligatory. It is enough to connect a wallet such as MetaMask, TronLink, Trust Wallet, WalletConnect or Bitget. After connecting a wallet, a player can immediately start betting by sending a deposit to the platform’s liquidity pool.

Many people still think online betting isn’t safe. There are several reasons for this. Dexsport is working hard to solve some of these problems. As online betting becomes more popular, scams and frauds have also increased a lot. The main worry for users is security, especially on sites where money is involved. With new Web 3.0 platforms like Dexsport, users can feel more secure. Dexsport focuses on keeping users’ information private and safe. They use strong encryption and security measures to make sure everything is protected.

The data Dexsport collects about its users includes just technical data such as IP address, MAC address, log files, data related to usage, domain server, performance, website security, traffic patterns, location information, browser and device information and financial data that includes wallet addresses, transaction, and balance information (blockchain data).

The biggest problem with online betting platforms is that the government often bans them. Many platforms follow strict rules to avoid this. But even with a license, many platforms can’t operate in some countries. Dexsport doesn’t have this problem. Dexsport is licensed, so its users won’t face issues placing bets.

What cryptocurrencies are supported?

Bitcoin and BNB are not the only cryptocurrencies supported by Dexsport. Pools are available for cryptocurrencies running on many blockchains. Users are practically unlimited in their choice of cryptocurrency for betting. They can be made in USDT, BNB, DAI, DOGE, PEPE, TRX, ETH, BTL, MDAO, MATIC, GROK, and many others. Dexsport also has its own DESU token, in which gamers can place bets and receive additional rewards and benefits for supporting the platform’s tokenomics.

Dexsport offering includes:

• Dozens of coins supported
• Fully decentralized betting process
• Highly anonymous and privacy-oriented services
• Fast payouts
• Provably blockchain-written fair bets
• Low fees
• No delayed payments or unfair games
• A bunch of additional promotions with tangible rewards
• Vast list of games for betting
• Championships with prize pools

The total volume of the pools now exceeds $4.3 million. The largest betting pool is in USDT ($2.8 mln). Since April, it has increased by $1 million. This indicates the growing interest of players in decentralized and private betting services.