The online betting industry has been around for many years, but with the rise of blockchain technology and decentralized applications (dApps), we’re witnessing a paradigm shift in how people bet. Instead of using centralized platforms that are often prone to fraud, users can now place bets on peer-to-peer networks where transactions are recorded on an immutable ledger.
Web3 betting platforms have revolutionized the way bettors make wagers by providing increased transparency and reduced transaction fees. With these new technologies at play, bettors from all over the world can participate in various types of events such as sports matches or esports tournaments without worrying about trust issues.
Web3-based betting platforms are not restricted only to traditional gambling games; instead, they provide opportunities for unique wagering options ranging from political predictions to real-world outcomes like weather patterns or natural disasters. These platforms enable bettors to place bets using cryptocurrencies like stablecoins such as USDT. Some of these platforms also have native tokens which users can use to stake or earn as they use the platforms. This article explores the top three Web3 betting platforms.
OpenbetAI
OpenbetAI is a web3 sports betting platform that integrates AI, crypto-tech, and sports betting. Developed by experienced coders, with a focus on security and user experience, it allows users to place wagers on various sports such as soccer, NFL, MLB, AFL, and E-sports using almost any cryptocurrency. The platform allows users to manage all their bets on a single page for the best possible experience using the platform’s native token $OPENBET, and other cryptocurrencies. Players can also play conventional casino games such as Live Blackjack, Live Baccarat, Live Poker, slot games, roulette, and in-demand trending games like Crash.
OpenbetAI is a web3 betting platform that enables players to gamble on top sports competitions such as FIFA, NFL, MLB, and additional events using the platform’s native token $OPENBET, and other cryptocurrencies. Players can also play conventional casino games such as Live Blackjack, Live Baccarat, Live Poker, slot games, roulette, and in-demand trending games like Crash.
OpenbetAI works with any token from any EVM chain and uses machine learning for fraud detection. Token holders can earn passive income through revenue sharing (50% distributed among them).
Bookmarker.xyz
Bookmaker.XYZ is a Web3 betting platform where you don’t need to deposit or withdraw money to and after betting. Instead, your funds are secured in blockchain smart contracts once you place a bet. When the event ends, you can redeem your winnings through the contract if you win.
Bookmaker.XYZ is powered by Azuro, a revolutionary online betting protocol. With Azuro, you can start betting by connecting your Web3-enabled wallet to the platform. The best part is, Azuro is designed to be cross-chain, so it will support more chains in the future. Currently, it supports MATIC and xDAI — Gnosis chain token.
One of the benefits of Gnosis Chain is that you can use the same token (xDai) for both bets and gas payments. On the Polygon Mainnet, however, you can make bets with USDC and cover gas costs with MATIC. Since Bookmaker.XYZ is a decentralized platform, it doesn’t have the power to withhold your money or control the timing of your winnings. In fact, they have no access to it at all. With Bookmaker.XYZ, you never hold any balance. Everything is in your wallet, and you have full control.
Goal3.xyz
Goal3 is a decentralized, secure, automated market-making sports betting platform based on the zkSync Era network, which allows users to place bets with cryptocurrency on a diverse range of sports and events. The platform’s unique AMM algorithm guarantees that odds and lines are constantly fair and responsive to market demand.
Through the use of smart contracts and crypto tokens, users can place bets which are then settled on-chain. This added layer of security and transparency is reassuring. Moreover, there are multiple playing modes to choose from. Once the (bet) transaction has been processed and the smart contract receives the funds, NFTs are issued to the users. These tokens represent their bets in their wallet and can be sold to others. Therefore, buyers can claim their share of the payouts.
Currently, Goal3 supports several stablecoins and intends to expand the list of stable tokens available on the zkSync Era. Using Goal3 will be free, but users will have to pay gas fees on the zkSync Era network. However, it’s important to note that the platform is still in its Test-net phase. As per the team update, the development plan for Goal3 mainnet is closely linked with zkSync. You can explore the testnet here.
Closing thoughts
Blockchain is revolutionizing the online betting industry by creating secure and transparent systems. Web3 platforms can improve peer-to-peer networks by utilizing immutable record-keeping on Blockchain. This helps enhance privacy, decentralization, and lower fees. Public ledgers ensure transaction transparency, thus making bettors more confident about their winnings. With new features that enable bettors to get more value from these platforms – such as saving a part of their winnings and staking them for income, bet copying features, etc. – web3 betting products will continue transforming the online betting market.
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