While a large part of the world is still struggling to understand what cryptocurrencies are and how they work, and many businesses are not ready to adopt crypto yet, taking small steps toward accepting the new payment method; gambling and wagering industry was among the first industries that opened hearts and wallets to the usage of decentralized digital assets and blockchain technology. In the last couple of years, we all could witness the increasing amount of online sportsbooks that accept payments made in cryptocurrencies, such as Bitcoin, Ethereum, and others. It’s difficult to believe that up until a few years ago the names of these cryptocurrencies were only known by tech geeks and residents of Silicon Valley. Since the value of crypto coins rapidly increased, everybody wants to get a hand on them and keep a few in their wallet, viewing it not only as a great investment but also as a way to save their assets from inflation. There is no doubt, that blockchain technology has revolutionized society, so there is no wonder that these days betting with crypto on crypto betting exchange platforms is easier than ever, and there is a good reason for it. They work almost the same way as traditional betting exchanges, the only difference is that instead of fiat money, you can lay and back bets using either existing cryptocurrencies or tokens that belong to the platform, such as DESU tokens. And that’s exactly what gives bettors, who play on betting exchanges that adopted crypto, so many advantages.

Strength No.1: Security

Of course one of the main strengths of the crypto betting exchange platforms is security. While some people still have concerns about crypto coins, finding them “shady” since there is no centralized system (such as a government or a bank) to regulate them, those who are more familiar with blockchain technology know well that those concerns have no ground. Blockchain is a system that is incredibly difficult to hack, so you don’t have to worry about somebody getting access to your assets if you are using trustworthy decentralized betting exchange platforms, like dexsport.io, the credibility of which was proven by tenths of thousands of gamblers.

Strength No.2: Anonymity and no geographical restrictions

Another reason to choose a crypto betting exchange platform over traditional ones is the decentralization of the whole process, starting with topping up your balance and finishing with withdrawing your winnings. In blockchain-driven platforms, there is no centralized authority, such as a government or a bank, that would be able to track or limit your transaction, you are the only person who has full autonomy over your assets. It’s especially good for people who want to keep their privacy since for decentralized betting platforms there is no need to see their customers’ state ID, Social Security Number, and other personal information. All you need is to connect your Web3 wallet to your account, and you are all set, short and sweet. Needless to mention that no “Know Your Customer” policy greatly decreases the risk of becoming a victim of identity theft.

The fact that there are no banks or government authorities involved in the process of betting and withdrawing money from crypto betting exchange websites would also be especially important for those who live and play in places where sports gambling is illegal or strictly regulated. Decentralized sports betting exchange platforms offer the solution to this problem. As an example, recently platforms that accept crypto got a lot of hype in Norway, a country with the most strict casino laws and regulations in Europe, allowing users to place bets without the government being able to track transactions back to the individuals.

Strength No.3: Quicker processing times

Imagine this scenario: there is a bet with really good odds that you are willing to take. You are so close to winning and can already almost feel money dropping into your wallet… Ding! “Your transaction has been declined by a bank”. There is no doubt this happened to any avid bettor at least once. Great news, there is no need to worry about long processing times and a bank declining your transaction or freezing your card when you place bets on crypto betting exchange platforms because there is no third party (such as banks, e-wallets, etc) involved in the process of transferring money between a platform and a user. Transactions made with cryptocurrencies are extremely rapid and can be completed in a matter of seconds, both for placing bets and withdrawing assets to your wallet. Once you top up your web3 wallet with crypto coins, you and only you are going to be the one in control of all of your funds.

Strengths No.4: Lower commissions and better odds

Another great reason to take a step away from traditional betting and switch to betting with crypto is significantly lower platform commissions. Using decentralized betting exchanges will help you get the maximum of your winnings. Dexsport and other peer-to-peer betting exchanges do not take a large cut from your winnings while suggesting much better and more competitive odds for their users, providing an opportunity to get the absolute maximum in case you win a bet. There is no bank charge and no withdrawal fees either.

Strengths No.5: Eliminating monopoly in the gambling industry

Centralized sports betting exchanges and online casinos remain strictly controlled by the government and the revenue services. Limitations and regional restrictions that a government implements allow traditional betting exchange platforms to keep a monopoly and overcharge bettors on every step, while also providing all of the information about their customers to the government. Crypto betting exchanges change this system completely, starting a new era of decentralized gambling.