I try to stay up to date with all the latest news and developments from Blockchain Projects that offer Sports Betting making a report each month with my personal experience and insights on how this space is evolving.
Market Overview
It's hard to follow everything that is going on in crypto these days. When it comes down to betting projects, many seem to continue to build their products but so far, real user adoption is not really happening all too much. I continue to keep my eyes out on most of what is out there and try to see which are the betting platforms that I personally would use. Some tokens were added on Coinmarketcap. Zensports which I covered way back and haven't really taken a 2nd look at & Sportsx which I'm planning to try out next month. Degens.com also seems to have created their own token but there is no real info on that yet.
Wagerr added their WGR coin to pancakeswap. A full tutorial has been put up here, they also added a WGR/USD pair on the Beaxy exchange.
As much as I like the work that is being done and the progress that is being made, Wagerr so far has not turned into a platform that I am actually using mostly because I mainly stick to betting the Belgian League right now and their options are rather limited. I still like what they are doing even though having to bet in their own WGR token is quite a hassle even though they make it easy to buy. It's a good sign that they burned a lot of WGR (= those betting on the platform lost). 32 Million WGR (1.23 Million Dollar) was bet and 1.74 Million WGR (67k Dollar) was lost. This makes it so that the average bet was taken with a -5.44% ROI in February. The ones betting on https://wagerr.com/sportsbook still are up a combined 7.6 Million WGR since betting went live on-chain.
This certainly remains one of the more interesting projects to follow and I'm looking forward what 2021 will bring for Wagerr.
Sportx.bet seems to be getting more traction as they moved the 2nd layer Matic (Now Polygon) in order to lower the fees.
They also did an airdrop of their own SX token to players who used the platform in the past. So far I have never used them as the high Ethereum Gas fees kept me away. I really want to at least test them out now but need to find the time to do so. Their SX token allows to earn staking rewards, reduce betting fees and participate in governance.
I might try out the Matic scaling solution and take on some bets on Sportx somewhere this month.
Sportbet.one right now for sure is one of the platforms I like the most as I actually use it on occasions also having an investment in the SBET token (See Weekly Dividend report). They allow betting in EOS-USDT-SBET in a decentralized way where players bet with funds directly from their own wallet and they also offer a way for those who don't mind having a traditional centralized account (without KYC) to bet with funds they deposit on the platform with EOS/USDT/BTC/SBET as currency options. Their odds and the bets they offer are fair and the site itself works really nice including live betting and even provides free streams. They also added a casino recently.
Using their platform has fairly low risk if you bet straight from your own wallet, Buying and staking their SBET token is rather a high risk as there is no guarantee that they will succeed in getting more users (which is the main issue for all crypto betting projects right now) and there also is the danger of being shut down by regulation at one point.
Betterbetting is a project that I really liked in the past as it made sense what they were doing and the product they had was something I actually used on occasion. The Ethereum Gas fees pretty much killed it and not all too much development seemed to have been done since.
A tweet came that they are back and that more news will come which seems to have revived the price of the BETR Token a bit. I'm still holding on to my bag (Most I bought when marketcap was below 70k) as a small all-or-nothing gamble. I have considered it as nothing but who knows where it still might go.
Peerplays is also a project that goes way back where there seems to have been little to no development going on with BookiePro formerly known as bookie.exchange was one of the crypto sports betting exchanges I highly anticipated. No real news came from what I can tell but the price spiked +677% .
I have no clue what is going on but it will be interesting to see if actual news from this project comes. I don't have any investment in peerplays.
That's about it for this month. Let me know if there is anything major I missed last month or if there are some more promising projects I have yet to take a look at. Thanks !
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