By Shelly Melancon (Switzerland)
Blockchain technology has continued to evolve, with several businesses leveraging it to expand operations. Traditional businesses are now moving with the times, switching from the regular business structure to decentralization, even the world of betting is imbibing the idea of decentralization and blockchain.
Betswapp is driving adoption of blockchain technology, and has become the first decentralized betting exchange. Betswapp runs on several blockchains, and will reportedly go live on Ethereum, Polygon, and Solana.
According to the team, running on multiple blockchains will help bettors bet on their favorite sports against their counterparts across the globe. Bettors are required to connect their MetaMask wallets to the platform before they can place bets.
The platform gives access to bettors from around the globe, allowing them to bet without restrictions and limits. This is the true benefit of using blockchain technology.
Betswap Set to Dominate the Betting Industry
The betting industry has had some issues in the past regarding regulations. There have been several attempts to introduce a legal and compliant space for bettors, but the feasibility of these legal issues coupled with privacy concerns were questioned, creating discrepancies.
The traditional betting platform utilizes an unknown betting mechanism that rarely works in favor of the bettors. Users trust the website to place their bets accurately and timely.
Also read:With blockchain technology in the betting world, bettors become assured of a safe and secure betting platform. According to the team, Betswap, through blockchain can alter the way betting is being done, including how transactions are being tracked.
Betswap relishes the benefits of being anonymous and decentralized to create an awesome online betting experience for users. By being anonymous, bettors don’t have to create an account to start betting, as the only requirement is the MetaMask wallet.
The platform is governed by a token, meaning that it is run and owned by a community and users and not a single, centralized entity. The sale of the token maintains the supply fluid. With this, betting becomes more transparent and impartial.
Betswapp Enables Players to Become Bookmakers
Betswap has interesting features, and that includes enabling users to act as bookmakers. The team discloses that the platform has an order book that allows bettors access information about their betting odds, returns, etc.
There’s also back and lay betting. Back betting is a regular feature found in most betting platforms that allows bettors to place bets on a team and wager them to win.
Lay betting allows the user to bet on a future event as a bookmaker. According to the Betswap team, the bettor has a higher chance of winning.
Betswap utilizes the power of blockchain in the betting world, and has kickstarted the drive for blockchain adoption in the industry. Users can enjoy the thrill of sports betting without any compromise on transparency or their safety.
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