BetSwap Space enters into a new era of fantasy sports with the introduction of its blockchain-based p2p platform
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BetSwap Space, a decentralized peer-to-peer fantasy sports platform, has officially launched its web version where users can enjoy fantasy sports of their choice without having to rely on a middleman (house). The platform allows anyone to create and accept fantasy sports pools (or join existing pools) with anyone else in the world, without the need for a centralized bookmaker. Users can fund their accounts, speculate, pay fees, and cash out their winnings directly within the app in cryptocurrency.
“The fantasy gaming and speculation market have recorded substantial growth in recent times and we believe that best decentralization and disintermediation is a major requirement of the industry, mainly because of the manipulative role often played by bookkeepers and house. In this regard, we consider blockchain and cryptocurrency have a direct use case in solving these core issues.” said the CEO of BetSwap.
He further added “In the traditional landscape, anyone looking to play fantasy or speculate on a match had to use an online bookmaker whereby he had to take the laborious steps to wire money or use a credit card to fund a gaming account. These payment methods can take several days, come with high fees, and are even flat-out rejected oftentimes by banks. Lack of trust was also a core issue as a user was never sure that the house will honor the user account and pay you out when it was time.” Continued the CEO.
Talking about the solution to such issues, the CEO quoted “At BetSwap, we have found a smart solution to such issues in the form of offering a trustless platform that uses smart contracts and blockchain to offer fantasy playing opportunity that is transparent and without the control of a bookmaker. The platform accepts stable coins as a payment method, ensuring that user doesn’t have to use conventional banking methods or face rejections. Instead, their crypto assets are held within a non-custodial wallet which only they have access to. Furthermore, all transactions and pool results are executed and rewards are distributed in self-executed smart contracts that ensure the right winner gets the reward, whereas transactions are fully transparent and traceable on blockchain.”
Unlike traditional sports, where a house or bookkeepers control the game by setting odds as they make money only when a user loses, BetSwap allows users to create sports pools with defined terms and odds of their choice through the usage of blockchain and smart contracts, which is a revolutionary mechanism to bring disintermediation to otherwise very centralized industry.
About BetSwap Space
BetSwap Space offers on-chain betting of various sports by facilitating users to create pool on sports that can attract predictions. It allows them to create their own pools, set odds, and most importantly be the house while cutting the costs of traditional sportsbooks and middlemen, allowing users to enjoy a super low as 1.5% fee.
Social Links
Website: http://betswap.space/
Twitter：https://twitter.com/Betswap_Global
Telegram：https://t.me/betswapchat
Medium：https://medium.com/@betswapglobal
Contact Info:
Name: Darren
Email: Send Email
Organization: Betswap space limited
Website: http://Www.betswap.space
Release ID: 89085287
