Hi, do you have experience with blockchain betting sites like dexsports, cloudbet, stake, … It should be anonymously so no KYC required, therefore no banning profitable players I guess, or you just create a new wallet. Any experience?
Thing is they might not be licensed so they can confiscate winnings.
I did some research 1-2 years ago. Things might have changed since then. Feel free to make corrections!
Pros:
- You can play from most countries (but might be a grey area legally)
- You can often bet anonymously, KYC is only required with fiat withdrawals
- Limits is less of a problem
- A few bookis allow bets without depositing first
- Margin seems a bit lower than the average soft bookmaker, around 4% compared to 6%.
Cons:
- Not that many value or sure bets
- Some sites just use Pinnacle odds and add their own margin, like Nitrogen.
- Depending on your contry, you might have to pay taxes on the winnings.
- There is a higher risk of bad actors, especially if you don’t use the handful of reputable sites.
- You don’t have to deposit money, but then you have to factor in crypto transaction fees.
- Some books convert crypto to USD when depositing, which might not be what you want.
- Exchanges like Fairbet have a low market depth unless it’s a top tier match.
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