As the best crypto sports betting exchange, SportX can be described using two sentences:

  1. SportX is a crypto sports betting exchange, built on the Ethereum blockchain and powered by a cryptocurrency called Dai.
  2. SportX lets users bet peer-to-peer on a decentralized sports betting platform. 

If you’re one of the 852 people on planet Earth who fully understood both of those sentences, congrats! You probably don’t need to read the rest of this article, but we’d love to hear what you think about the SportX exchange!

If you weren’t one of those 852 people…don’t worry! We’ll start small and explain SportX from the beginning.

What’s a sports betting exchange?

First things first…

SportX is a betting exchange that lets users bet peer-to-peer.

As a sports bettor, you have two options when it comes to sports betting sites: sportsbooks or sports betting exchanges. The one you pick depends on which type of sports bettor you are.

Sportsbooks, like Bet365, are the definition of “the house”. Specifically, they set the odds and take the opposite side of every bet with their users. Bet365 only makes money when their users lose a bet.

For the casual sports bettor, sportsbooks are simple and quick, but offer poor odds and charge users fees of up to 10%.

Sports betting exchanges, like SportX, let users bet against each other, peer-to-peer. Users can set their own odds and offer them to other bettors. The SportX exchange matches bettors against each other and takes a 2% fee, similar to how Uber matches riders with drivers.

Betting exchanges are more complex than sportsbooks, but smart sports bettors understand that betting exchanges offer users more control, better odds, and greater profit.

Why does a sports betting exchange need crypto?

If you do a little research into the sports betting industry, it’s clear that sports betting is systematically rigged against bettors.

Around the world, sportsbooks set terrible odds and nickel and dime their users with fees, something that we refer to as the mushroom problem. 

The mushroom problem: for Bet365 to increase profits, they need their users to lose more bets. So, Bet365 makes it difficult for users to win by keeping them in the dark and feeding them shit.

The CEO of Bet365 made $340M in 2017. That’s a lot of losing bets and unhappy users.

Crypto lets us put users first by giving them skin in the game.

Thanks to crypto, you earn ownership in the SportX platform every time you place a bet on SportX. That means that SportX always places users first, since we share ownership in the platform. Shared ownership = shared skin in the game.

SportX is a crypto sports betting exchange built on top of the Ethereum blockchain…

Think of Ethereum as a global network of computers. Instead of being powered by a single computer, like most sports betting sites, SportX is powered by over 8000 computers from around the world. 

…and powered by Dai cryptocurrency.

Like Bitcoin, most cryptocurrencies are incredibly volatile. Nobody wants to bet in a volatile currency since your payout could change by 10% or more.

That’s why all bets on SportX are placed in Dai, a stablecoin pegged to the US dollar. 1 DAI = 1 USD, so you don’t have to worry about volatile currency fluctuations.

Does that make sense? So when we say that: 

  1. SportX is a crypto sports betting exchange, built on the Ethereum blockchain and powered by a cryptocurrency called Dai.
  2. SportX lets users bet peer-to-peer on a decentralized sports betting platform. 

What we mean is:

  1. SportX is powered by a network of 8000 computers around the world and only accepts bets in Dai, a digital version of the US dollar.
  2. SportX is a betting site where users have more control, better odds, and higher profits. By betting, users earn ownership in SportX, which means SportX will always place users first. 

We believe that sports betting is systematically rigged against bettors.

So we built SportX to create a fair betting platform that always places users first.

If you feel the same way, check out our exchange and join our community!