Crypto gambling

Crypto gambling is on the rise. Why do more and more people refrain from using traditional betting exchange and start using crypto coins?

Eric is an X-Ray therapist who lives in Las Vegas, Nevada, and while he makes decent money working his job, growing up in Vegas he never refused to try his luck and enrich himself by gambling of any kind, starting with playing blackjack in a casino and finishing with cryptocurrency gambling on online betting exchange platforms. The last one allows him to make the amount of money equivalent to his annual salary without even having to leave his house.

"I was always told by my parents: Work smart, not hard" – he says, – "When I was a young kid, my older cousin broke a big jackpot in a casino, that set him up for years. In that moment I realized how easy it is to make big money if you put some thought into gambling and do some research rather than mindlessly pulling a slot-machine's lever. I was always into sports, was even in a football team in high school, so I knew a lot about this area. Once I turned 21, I decided to turn my knowledge into money, went to a sportsbook office and backed my first bet on a team I knew was going to win. After the match was over, I returned home with my first winnings in pocket"

Now, years later, Eric doesn't even have to go anywhere to place his bets: All he needs to do is to go to a betting exchange platform, find the suitable bets to play on, and wait. Sometimes he is even able to do it during his lunch break. Recently he learned about the possibility of gambling with cryptocurrency and decided to try it: Gambling with bitcoins looks very appealing, considering the raising price of a coin. Getting a few of them on your hand, let alone winning them, seems to be a great investment.

"Turned out finding a suitable platform for blockchain gambling isn't that easy, especially if you live in the USA. That was shocking for me, that even in Vegas – the gambling capital of the world – the regulations limit crypto gambling so much. It's almost like they are trying to create a monopoly with those centralized betting exchange platforms. The available platforms cut your winnings so much with their ridiculously high commissions, and then in addition to this, you have to pay up to 37% tax on winnings to IRS, then my bank charges me for a transfer – there goes almost half of what you won. Plus, I often had to use VPN services to access the platforms. I started looking for something similar, but with lower commission, even went on YouTube thinking that maybe there are some blogs where I can find tips about gambling with cryptocurrency and that's how I stumbled upon a video about Dexsport.io and decided to try it"

If you don't know what Dexsport.io is – it's a new one-of-a-kind blockchain-driven decentralized betting platform, where you can start gambling with crypto tokens right away, after finishing 2 simple steps: connecting your web3 wallet and placing a bet.

"I truly love the idea and the service. Whoever created it really cares about the community." – Eric says, – "I don't see a reason for me to gatekeep it. I used to play on traditional betting exchange platforms, including the biggest ones in the business, like Betfair and much smaller ones, and there are always some problems that make gambling experience worse. I can say Dexsport.io is one of the best platforms I've ever placed bets on. On the bigger traditional platforms there is always a high commission and often region restriction. On the smaller ones there might not be these problems, but there are always problems with liquidity. Sometimes I had to wait for a long time to find a match when I laid a bet. Never experienced such a problem with Dexsport.io, thanks to the liquidity pool. I also find it very easy to navigate their website, even for someone who is new to crypto it's not going to be difficult. The liquidity pool guarantees that there are no problems with coefficients, so you don't need to have a lot of knowledge to find the best deal for yourself, all you need is to get your gambling coin, place your bet and enjoy the process and your winnings", – he laughs.

Another, less visible advantage of gambling with crypto tokens is safety and privacy. Despite some people still being a bit afraid of using cryptocurrencies (which is a normal human reaction to be afraid of something relatively new and groundbreaking), blockchain gambling makes it impossible for hackers to access your funds, because they are not stored in a bank or a central system, hence gambling with bitcoins and other crypto tokens is considered much safer for a user than traditional currency gambling. You might win and might lose, but at least you won't get your money stolen. In addition to that, while gambling with cryptocurrency on platforms like Dexsport.io, you are less likely to become a victim of identity theft than with centralized betting exchange platforms that often ask you to provide your personal information and even social security number for authorization process. This mandatory process is called KYC, meaning "Know Your Customer" and opens many opportunities for scammers who pretend to be betting exchange operators. Trustworthy decentralized platforms will not ask you for this information. Plus, you get full transparency and provably fair bets.

That's why more and more bettors, like Eric, switch from traditional wagering to cryptocurrency gambling and start using decentralized blockchain-driven operators instead.