Sports betting is no longer an area reserved for sports fans, and cryptocurrencies are not just nerds. The collision of these two worlds is in the form of 1xBit, an online betting platform that supports the use of cryptocurrencies.
1xBit has made a name for itself since its launch in 2011 and has become one of the leading brands in the crypto betting scene. The platform includes a wide range of sports and events where users can place their bets. From football, basketball and football to eSports and martial arts, everything is available. Every day new events are added to the list so the weather has the most exciting fights and matches.
To provide an improved betting environment, the platform accepts more than 20 crypto-currencies as a form of payment, including Bitcoin, Litecoin, Zcash and Ethereum.
1xBit has just added a new section on their website
The site offers a number of areas where users can place different bets, such as: Betting on their national team, a tournament and many more. 1xBit spawned a new section UFCallows users to bet and review information such as: Disability, quotas and other values for martial artists. UFC is the leading proponent of mixed martial arts, bringing only the best fighters and the most watched games.
There are several hundred UFC games each year, and fortunately for sports fans, 1xBit has created a special area where they can place bets on the outcome of UFC games.
Blockchain: Can It Help Online Betting?
To generate profit and profit estimates, bookmakers apply analysis and probability to a range of statistics and expert predictions to assess the outcome of an event. By adding their own profit margins to this probability, they generate the final quotas. These odds are then used to multiply the value of the bets made on the platform, thereby generating the potential proceeds.
It is known that bookmakers earn their income and pay off for winning users with the money that results from the lost bets. If you have more wagers, you have more profit, right? This logic can cause greedy bookmakers to create slightly altered odds, promotions, and statistics to manipulate the way a user bets in their favor.
However, bookmakers based on distributed ledger technologies are less concerned about the safety and fairness of sports betting and their practices. By recording all transactions made in a blockchain, all stored data becomes invariable, transparent and accessible to everyone.
1xBit is a cryptocurrency that provides a secure and transparent medium only for all weather conditions.
Traditional bookmakers do not leave much room for privacy when registering for an account. To create an account, you typically need to submit sensitive personal information, which then goes through a lengthy review process.
In contrast, 1xBit ensures anonymity and privacy through its quick one-click account sign-up process, which generates a password and personal account number with a single mouse click. After this process, the two-factor authentication feature can be enabled to provide the account with more protection.
Liquidity rates are another important aspect that can be positively impacted by the use of blockchain. For non-blockchain sports bookies, there are fees for each payout, which is rather discouraging for frequent weather that wants to pay off right away. With 1xBit users can make deposits and withdrawals without having to worry about fees.
The only payment option accepted by 1xBit is in the form of cryptocurrencies. Due to this implementation, transactions are executed faster and without additional fees because the financial transaction has no middleman.
Kryptos active in the sports scene
More and more cryptos and blockchain projects are slowly penetrating the sports industry through various advertising tactics. In various areas of this industry, sponsorships and support for and for cryptographic projects emerge.
A current example would be Litecoin and the deal with GLORY Kickboxing, a world-renowned kickboxing league. Through this partnership, fans can buy goods on the GLORY official website using LTC.
A blog entry from 1xBit another example where Blockchain and Sport are intertwined. Stratis is a blockchain focused on the development of dApp and the boxer James DeGale has sponsored in the fight for the World Super Middleweight title.
There are many more examples that can be listed, but we will limit ourselves to these cases.
The possibilities and applications of Blockchain have aroused the interest of various betting platforms such as 1xBit to achieve the transition to crypto payments and benefit from the introduction of this technology.
Disclaimer: This is a press release
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Contribution Source: Bet with Blockchain: 1xBit Sportsbook
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