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0/ Why Blockchain-based Betting Platforms (part 2a)
Some thoughts on why professional sports bettors will (eventually) prefer to use a blockchain-based betting platform like @SportX_Project
Some thoughts on why professional sports bettors will (eventually) prefer to use a blockchain-based betting platform like @SportX_Project
1/ This thread will focus on defining the major needs of professional bettors (part a).
Will post a second thread (part b) on how blockchain-based betting platforms will able to fulfill these needs far better than traditional platforms possibly could.
Will post a second thread (part b) on how blockchain-based betting platforms will able to fulfill these needs far better than traditional platforms possibly could.
2/ First, a loose definition:
Professional bettors are bettors that are entirely profit-driven.
They are willing to shop around platforms for better prices. Convenience and usability are secondary.
They likely have used crypto before, but aren’t necessarily “crypto-native”
Professional bettors are bettors that are entirely profit-driven.They are willing to shop around platforms for better prices. Convenience and usability are secondary.
They likely have used crypto before, but aren’t necessarily “crypto-native”
3/ Talking with professional bettors, there seems to be 5 core reasons they would choose to use a blockchain-based sports betting site over a traditional fiat betting site:
Better Odds
Higher Limits
No Banning
Withdrawals
Trust
An explanation of each:
Better Odds Higher Limits No Banning Withdrawals TrustAn explanation of each:
4/ Better Odds
Unlike other bettors, professionals are very price-sensitive and will actively shop around for the best odds.
They often have accounts at +10 sites, and will compare odds across them to decide where to place their bets.
Better odds equals a higher ROI
Better OddsUnlike other bettors, professionals are very price-sensitive and will actively shop around for the best odds.
They often have accounts at +10 sites, and will compare odds across them to decide where to place their bets.
Better odds equals a higher ROI
5/ Higher Limits
Betting limits (i.e. liquidity) is absolutely critical to professional bettors.
If they see an edge in a market, they will look to put down as much capital as they can into the bet.
Professionals migrate to platforms with high betting limits.
Higher LimitsBetting limits (i.e. liquidity) is absolutely critical to professional bettors.
If they see an edge in a market, they will look to put down as much capital as they can into the bet.
Professionals migrate to platforms with high betting limits.
6/ No Banning
Professionals look for platforms that are “sharp friendly”.
They don’t want to be banned from using the site or hit with a fee if they are winning.
Pros can combat this by having accounts under different names, but this requires work and comes with new risks.
No BanningProfessionals look for platforms that are “sharp friendly”.
They don’t want to be banned from using the site or hit with a fee if they are winning.
Pros can combat this by having accounts under different names, but this requires work and comes with new risks.
7/ Payment Rails
Professionals are constantly moving large sums of capital across different platforms in order to take advantage of opportunities that arise.
They therefore need platforms that have payment rails that can quickly and securely do so at a minimal cost.
Payment RailsProfessionals are constantly moving large sums of capital across different platforms in order to take advantage of opportunities that arise.
They therefore need platforms that have payment rails that can quickly and securely do so at a minimal cost.
8/ Trust
Professionals have the most counter-party risk of any other bettors.
They need platforms that they can trust will settle bets fairly and will function 24/7.
They don’t want platforms that will change the rules from underneath them without notice.
TrustProfessionals have the most counter-party risk of any other bettors.
They need platforms that they can trust will settle bets fairly and will function 24/7.
They don’t want platforms that will change the rules from underneath them without notice.
9/ Background info
This info come from my own conversations with different individuals that do this full-time (including a direct relative).
Pretty much all pros that I talk to care about the five outlined above to a certain extent...
This info come from my own conversations with different individuals that do this full-time (including a direct relative).
Pretty much all pros that I talk to care about the five outlined above to a certain extent...
10/ ...But their individual needs differ pretty wildly.
For example, some bettors with specialized high-ROI strategies aren't as worried about maximizing odds because the ROI on their strategy is so high
BUT they face low betting limits and have a high chance of being banned.
For example, some bettors with specialized high-ROI strategies aren't as worried about maximizing odds because the ROI on their strategy is so high
BUT they face low betting limits and have a high chance of being banned.
11/ This is the second in a series of threads on why different sports bettor demographics would bother using a Blockchain-based Betting Platform like @SportX_Project.
Check out part 1 here: https://twitter.com/AndrewSportX
Check out part 1 here: https://twitter.com/AndrewSportX
