UBET Sports is a decentralized sportsbook that wants to address pain points for traditional web2 bettors! Ironically, before we began, we faced a great onboarding challenge on the way to acquiring web2 sports bettors.

Today, we officially solved the onboarding challenge for our users, and as far as we know, we are proud to say that we are the first on-chain sportsbook to resolve this problem.

The need for easy onboarding is extremely crucial and is an indispensable component of decentralized web3 applications!

Previously, most of the decentralized applications were targeted towards web3 users. Today, we see projects that are built for web2 users.

NEW YORK, Nov. 28, 2023 (GLOBE NEWSWIRE) -- via IBN -- UBET Sports, a pioneering decentralized sportsbook, today announces their solution to onboarding traditional Web2 bettors into a Web3 environment. UBET Sports becomes the first on-chain sportsbook to address the pain points associated with integrating Web2 users onto a decentralized Web3 platform.

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.

Have you heard about traditional bookies placing restrictions on their platform users? Does the strict withdrawal amount of their winnings sound familiar? Their conditions are obviously endless…

UBET SPORTS DEMOCRATIZES TRADITIONAL SPORTSBOOKS, WHERE THE ENTIRE BETTING TRANSACTION HAPPENS ON THE BLOCKCHAIN.

So you might be asking: “What is UBet Sports, and what does it stand for?”

Here is a precise answer to your question “UBet Sports is a decentralized sports betting platform geared towards providing its users more freedom and power to control their bets and have unlimited freedom.”

You might also ask what “Decentralized betting” is.

A DEFI sportsbook is a market where people can trade contracts that pay based on the outcomes of future sports events. This may sound very much like sports betting. However, the difference between DEFI sports betting and traditional sports betting comes from the style of operations.

Betting project UBET will launch a decentralized exchange (DEX) on the Polygon network in July. UBET Sports will use automated market maker (AMM) algorithms to determine betting odds.

NEW YORK, Nov. 17, 2022 (GLOBE NEWSWIRE) -- via InvestorWire – UBET is thrilled to announce that the UBET Sports World Cup Betting Tournament will begin on November 20 and run throughout the FIFA World Cup, with a total prize pool of $2,000 USDT to be won. The best part is that there is zero risk involved, so you can participate freely.

Decentralized betting is typically the use of blockchain technology to facilitate peer-to-peer betting. With over US$1.5 trillion wagered on sports betting each year, the industry is massive but highly fragmented, with high fees and poor user experiences. UBET Sports was explicitly created for this purpose where they provide bettors with a transparent and better betting experience.

Manny is a Nigerian football fan and makes his money betting on sports events in one of Nigeria’s most popular online bookmakers. Manny and his brother both set records by winning N80 and N81 million naira respectively. However, they were only able to withdraw 30 million before Sportybet locked their accounts and confiscated their winnings.

For the African continent, Web3 has the potential to speed up globalization. Africa, projected to make up 40% of the global population by the end of the century, is behind in every sphere of development.

The internet has evolved over time, from web1 to web2 and now to web3. This evolution has been spurred on by the drastic improvement in technology and user demands.