There are more decentralised sports betting exchanges for football when using crypto currency than in GBP and USD in what is sure to be a huge growth market over the next 10 years. Here we list exchanges for both Fiat and crypto currency when betting on football.
Decentralized platforms are revolutionizing industries across the board, and the sports betting world is no exception. In contrast to traditional platforms, decentralised sports betting sites operate on blockchain technology, ensuring trustworthiness, transparency, and often lower fees. By leveraging smart contracts and distributed ledger technology, these platforms provide users with secure, trustless transactions without intermediaries. Let's delve into the top sites in 2023.
Wagerr
Wagerr is a sports betting exchange with it's own blockchain where you can create your own odds for many sports and matches for others to bet on, or you can take the odds already available from others.
It has the highest liquidity levels of all the p2p crypto betting exchanges and uses it's own blockchain and crypto currency known as WGR to allow users to bet against each other. The good thing is you can easily swap your Bitcoin and other currencies for WGR without the need to sign up to any exchange. Using Instaswap you can arrange the swap and send them your chosen currency and they will in turn send you Wagerr to your Wagerr exchange wallet here. This is by far the most promising of the blockchain betting exchanges available in the crypto industry.
During February 2020 which included the Tyson Fury match vs Deontay Wilder boxing match Wagerr received over $300,000 worth of WGR (their currency) in bets.
Volume of Bets to Date: $18.6m (as of May 2020)
Fee charged for betting: 6%.
Own Blockchain? Yes
Number of Masternodes: 3,040
(The more masternodes, the greater decentralisation of the blockchain)
Augur
Augur is another p2p decentralised exchange where you bet with DAI - a stable decentralised currency running on the Ethereum blockchain. 1 DAI is equal to $1. Like Wagerr any one can bet using Augur without an account where you sign up or verify anything about yourself. It's completely anonymous.
Volume of Bets to Date: $10m (as of May 2020)
Fee charged for betting: 1%.
Own Blockchain? No: Built on Ethereum blockchain
Number of Masternodes: 6,296
SportX
SportX offers a user-friendly platform that operates on the Ethereum blockchain. Its decentralized nature ensures that users always maintain control of their funds. Additionally, SportX incorporates a "Betting Exchange" model, allowing users to offer or ask for their desired odds, which can lead to better prices than traditional sportsbooks.
BetDEX
Modelled after the principles of decentralized exchanges, BetDEX provides a peer-to-peer betting ecosystem. Users can set their odds and bet against one another, with the platform acting merely as a facilitator. This approach can lead to more competitive odds as users are essentially betting against each other rather than the house.
BlockSports
One of the newer entrants, BlockSports BlockSports operates on the Neo blockchain. Its decentralized, peer-to-peer betting system ensures reduced fees and swift payouts. The platform emphasizes security, with all wagers held in smart contracts until the bet's resolution.
DEGENS
Degens is an Ethereum betting exchange where you can bet with DAI (like Augur) or ETH. Again you don't need to sign up for any account, you bet with money via MetaMask (your own ETH wallet). Liquidity on Degens is currently low but is steadily increasing. They have very low betting fees of just 0.5%.
Volume of Bets to Date: Unknown but less than $1m
Fee charged for betting: 0.5%.
Own Blockchain? No: Built on Ethereum blockchain
Number of Masternodes: 6,296
The rise of decentralised sports betting platforms represents a shift towards more user-centric, transparent, and secure betting experiences. By eliminating intermediaries and leveraging the immutable nature of blockchain, these platforms provide undeniable advantages over their centralized counterparts. As the technology evolves and adoption increases, it's expected that decentralized platforms will gain even more traction in the sports betting industry. Always remember to research and choose platforms that align with your requirements and, most importantly, bet responsibly.