Wednesday, June 29, 2022
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Cardano s DB365 launches crypto sportsbook platform

Looking to capitalise on some of gaming’s latest trends, DexBet365 (DB365) has launched a cryptocurrency sports betting platform being built on the Cardano Blockchain.

Billed as a “cross-chain metaverse and cryptocurrency play-to-earn, blockchain sportsbook platform,” DB365 will purportedly allow users to play their favourite metaverse games and earn cryptocurrency, as well as “digital collectibles with real-world value.”

But alongside metaverse gaming, the platform will let users place bets on sporting events, akin to traditional sports wagering but for cryptocurrency, with other users acting as bookmakers.

These ad-hoc bookies will be asked to stake their DB365 tokens, as it explained: “Every user forms a part of the governance and control through staking and sponsoring as bookmakers, and the end result is rewards distributed in a decentralised manner to everyday people.”

The platform has been launched in response to what it perceives as problems facing online wagering, namely the “greedy amassment of wealth by the 1% that controls the betting industry,” as well as security threats such as the 2016 “DDoS attack on William Hill” and various data breaches.

DB365’s aim, as stated on its website, is as follows: “Our mission is to take sports betting and gambling into the crypto space.

“We are offering you all the opportunity to become the pioneers of a new frontier, the decentralised betting frontier.

“Rather than placing a bet and waiting for 24 hours to receive your rewards, you get your rewards, which are either BTC, ETH, ADA, BNB, SOL etc. credited to your crypto wallet instantly.”

It added: “With the added advantage of anonymity and the failproof security of blockchain technology, there is the guarantee that all the information, tokens and coins are secure and safe from breaches.”

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