The Most On-chain Sportsbook is Finally Out!
UBET Sports launches on Polygon
Quick take:
- UBET Sports claims to be the most decentralized sportsbook out there!
- Unlike other sportsbooks, even the odds are determined on-chain
- UBET Sports is creating its own unique AMM (Automated Market Maker) to address the underlying issues that makes existing AMMs unsuitable for the nature of sports betting.
- Punters can now place bets on UBET!
[DATE] — UBET Sports launches a decentralized crypto sports betting platform on Polygon network. The web3, football, and esports betting community waited patiently for UBET to be ready and launch the most on-chain sports betting platform. Bettors can benefit from better odds and non-custodial service, that is you are the sole owner of your funds rather than relying on a sportsbook to hold your money.
Daniel Im, the co-founder/CEO of UBET Sports, has laid out a plan for revolutionizing the sports betting industry, with emerging market as the focal point. This is an urgent need to improve on a market marred by monopolised bookmakers wielding so much power against the bettor. Hear Manny’s story in here, “How Web3 sports betting solves the cash-out process?”
Unlike other crypto sportsbooks where the odds are still set on off-chain, UBET uses their or proprietary technology to set the odds from blockchain. Daniel believes UBET Sports is bringing its unique UBET AMM into the decentralized sports betting space. It solves the existing problems with Uniswap AMM which are commonly used in the crypto sports betting world. For example, the inability to quickly adjust to market odd fluctuations in unanticipated pre-game and in-game events and the inability to initialize liquidity for each market given that sports betting markets require near-instant settlement.
The CTO and co-founder Alexander Kondratskiy asserted the major issue that UBET Sports addresses is odds discrepancies and the impermanent loss which are detrimental to bettors and liquidity providers respectively. “We are working towards giving more opportunities for both bettors and liquidity providers regardless of market conditions. Our technological improvement will be significant to the sports betting space,” according to the CTO.
There is global demand for a decentralized betting platform that can deliver a simple user interface, improved deposit and withdrawal transactions, and most importantly, a transparent and easy onboarding system.
Place your first bet at UBET and join our betting tournament! You can keep up with events around the UBET Sports by joining our thriving UBET community on Discord and Telegram, as well as quick customer support on our Twitter.
Discord: https://discord.gg/destXEjEnW
Telegram: https://t.me/+bZsj5NzWmhkwYTAx
Twitter: https://twitter.com/UBet__Sports
