BLOCKCHAIN IN SPORTSBETTING

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BLOCKCHAIN IN SPORTSBETTING

If you’ve ever registered with a sports betting app, you’ll know the problems users face. From confirming your identity to registering a new card and waiting for your money to be in the account, the process is distressed with problems and potential problems.

Sports betting operators also come across similar challenges and from the other end they try to wipe off the fraudulent accounts and secure all credited funds. If anything goes wrong they might find themselves in trouble. To come out of this, betting sites started using blockchain technology.

This is the same technology that is used to design cryptocurrency exchanges and the same has been applied to the betting industry. A decentralized prediction and betting market is safer and secure, and more affordable than the current systems in place.

BLOCKCHAIN IN SPORTSBETTING

The betting industry is lacking behind in honesty and trust. Odds are fixed in secret and are always set in the favour of the bookmaker. This makes it painful for users to keep track and make correct decisions.

Once a bet is placed then the blockchain is immutable. A player cannot go back and alter or erase their prediction. And the odds also will be the same and it makes betting neutral and transparent.

Another important aspect where bookmaking business becomes profitable by the introduction of blockchain is cash flow. Money transfer becomes painless and transaction charges are also very less.

To help you in understanding ‘Blockchain in sportsbetting’ , one of our colleagues designed an informative infographic at Mrbet.me.uk. Please, check out our infographic and express your thoughts on it.

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