About Dexsport

What is Dexsport

Dexsport is an innovative betting protocol. The online betting industry can be daunting regarding transactions and gameplay. This is troublesome for regular users and small organizations. No wonder only a few big players can take advantage of this sphere.

Here's where Dexsport comes with its decentralized structure. This prevents any single entity from having a monopoly, unlike centralized companies. You can now enjoy the best sports betting games on the go. It also includes sports betting, market prediction, P2P betting, and NFT art collection.

As you can imagine, transparency is often missing in the gambling industry. Dexsport always tries to keep all processes transparent. You can also look at all of these processes and receive your winnings without deception. Dexsport is here to mark the beginning of a new era in the DeFi space.

Special highlights of Dexsport

As you know, Dexsport is emerging as a new face in the sports betting industry. However, there are some highlights which separate Dexsport from its predecessors. Dexsport has focused explicitly on the limitations of online betting and has addressed them. Let's look at some of these highlights.

Web 3.0 decentralized sports betting platform

Web 3.0 brings the power of blockchain technology, machine learning, and artificial intelligence to users. Dexsport is designed to implement decentralization in the sports betting space. This gives confidence to users that they have complete data ownership as few intermediaries are involved.

Shared pool of liquidity

Dexsport runs on the principle of a shared pool of liquidity. All the funds deposited on or withdrawn from the platform pass through the shared liquidity pool. Simply put, all the deposits made on the platform are added to the shared pool. On the other hand, the withdrawals are subtracted from the shared pool. Some amount of tokens is added by us initially.

Let's look at what a shared pool means from the user's perspective. Your prize money is taken from the shared pool when you win a bet. When you lose a bet, your funds remain in the liquidity pool for future bets. Let's say the shared pool has a 100k token. Five players deposit 1k tokens each and want to bet at an odd of two.

After making the deposit, the shared liquidity pool will have 100k+5k tokens. Next, they will gain 1k tokens each if they win the bet. After withdrawal, the shared pool will have 95k tokens left.

All players don't win; some enjoy gains, while others lose. Hence, let's say three players win and withdraw their prizes, and two players lose the bet. The shared pool of liquidity will have 100k-3k+2k= 99k. As you can observe, the net liquidity doesn't fluctuate so much. This allows an unlimited number of players to play simultaneously on the platform.

Fast deposits and withdrawals

Slow transactions can be an annoying experience for any user. In most online platforms, you have to make deposits from separate wallets manually. This can be pretty time-consuming and frustrating. The withdrawal process is also often complicated, making users wait for their winning prizes.

However, Dexsport has simplified the whole process and made it faster. All you need to do is connect your MetaMask wallet or another one using WalletConnect to Dexsport, and you're ready to transact. Since it's based on Web 3.0 and works on smart contracts, the deposits and withdrawals happen at blazing fast speeds. This makes the whole transaction process very user-friendly and straightforward.

High security

Dexsport is based on Web 3.0. Hence, it comes with all the security advantages of Web 3.0. Hacking a decentralized system is not as easy as hacking a centralized one. The hacker needs to infiltrate at least 51% of computers on the system to hack into the network. Therefore, you don't need to worry about data breaches when betting on Dexsport.

All transactions on Dexsport occur via an encrypted connection and smart-contracts. This ensures safety for your funds and money transfers. User privacy is also a priority for Dexsport, so your information is not stored on a centralized system.

You can rest assured when it comes to our shared liquidity pool. It is audited by CertiK, a robust platform known for performing high levels of verification. CertiK is a certifying body for blockchain and DeFi initiatives. We have also obtained audit from Pessimistic Security. Pessimistic Security's primary role is to tackle security challenges for blockchain enterprises and projects.

No KYC

KYC or ID verification is a hurdle for signing up on a betting platform. As technology improves, users expect the platforms to have quick registration processes. Hence, users often dislike the traditional KYC registration process. However, Dexsport has eliminated this problem.

We have changed the dynamics of ID verification processes. Dexsport operates using smart contacts, so we don't precisely need KYC verification when signing up. This saves time and allows users to focus on their games instead. If you don't like sharing sensitive personal information on betting sites, Dexsport is the best sports betting platform for you.