- UBET Sports launched a decentralized crypto sports betting platform on the Polygon network.
- The platform stands out by improving user odds and providing non-custodial services, allowing full control of funds.
UBET Sports, a prominent cryptocurrency and sports betting entity, has taken a significant leap in the industry. On the 25th of August, 2023, the company made a groundbreaking announcement with the unveiling of its decentralized crypto sports betting platform on the Polygon network.
1/ The Power of On-chain Prediction Market
🎲 Prediction Market is getting a futuristic upgrade with on-chain technology, and @UBET__Sports is leading the revolution. Explore why the on-chain prediction market is a game-changer and how UBET is setting a new standard! 🏆🌐 pic.twitter.com/JlbI8R37Ct— UBET Sports 🎲⚖️🏦 – A Decentralized Sportsbook (@UBET__Sports) September 6, 2023
UBET Sports’ venture into decentralized sports betting opens new horizons for cryptocurrency enthusiasts and sports fans. The primary aim is to provide a patient web3 community with access to cutting-edge betting technology, catering specifically to the interests of football and esports enthusiasts.
One of the standout features of UBET Sports is its unwavering commitment to optimizing odds for its users. Unlike conventional sportsbooks, UBET Sports assures its bettors of significantly improved odds, enhancing the potential for substantial winnings. Furthermore, the platform offers non-custodial services. Granting users complete control and ownership of their funds eliminates reliance on third-party entities to safeguard their assets.
Introducing the UBET Automated Market Maker (AMM)
UBET Sports is also spearheading the adoption of UBET Automated Market Makers (AMMs) within the decentralized sports betting space. This tailor-made AMM has been crafted specifically for the sports prediction market, addressing some of the inadequacies of existing Uniswap AMMs.
2/ Revolutionary AMM: UBET's unique AMM is tailor-made for the sports prediction market. It adapts to market changes, providing real-time odds that keep up with the game.@UBET__Sports ensures transparency & fairness by setting the odds on-chain 🔄🎯
(see https://t.co/u7h6bmixyZ) pic.twitter.com/OPTMh1zqty— UBET Sports 🎲⚖️🏦 – A Decentralized Sportsbook (@UBET__Sports) September 6, 2023
These deficiencies include the inability to swiftly adapt to market fluctuations, particularly during rapid pre-game and in-game events. Additionally, sports betting markets necessitate near-instantaneous settlement, a facet where conventional AMMs often fall short.
Additionally, the global appetite for a decentralized betting platform with specific essential features has increased. Users are seeking a straightforward, user-friendly interface that streamlines their deposit and withdrawal transactions. However, the paramount requirement is a transparent and uncomplicated onboarding process, ensuring that bettors grasp the inner workings and mechanisms of the platform.
Guaranteed Payouts Through Smart Contracts
A pervasive concern in the realm of sports prediction markets pertains to the issue of payouts. Many platforms have faced criticism for their shortcomings in disbursing winnings to individuals who accurately predict outcomes. UBET Sports addresses this issue by embracing a non-custodial approach and implementing smart contracts to guarantee payouts to winners. This strategic move eradicates the possibility of withheld winnings and instills unwavering confidence in the platform’s integrity.
The recent unveiling of UBET Sports’ decentralized crypto sports betting platform on the Polygon network signifies a monumental advancement in the cryptocurrency betting industry. UBET Sports aims to meet global demand with a focus on transparency, improved odds, and a user-friendly platform
Notably, UBET Sports has effectively harnessed the potential of blockchain technology to offer users a secure and transparent betting experience, effectively setting a new benchmark for the industry.
Matic Price Analysis
The MATIC token is currently trading at $0.5618, indicating a slight increase of 0.76% in the last 24 hours. Additionally, it showed a modest increase of 4 percent over the preceding five days. Nevertheless, MATIC’s value is still facing notable downward pressure primarily attributed to the 50 and 200-weekly Moving Averages (MA) acting as formidable resistance points.
