Decentralized Trade Betswap.gg Launches in Beta

 Decentralized Trade Betswap.gg Launches in Beta

  • Betswap.gg, the first decentralized peer-to-peer betting exchange in the world, has officially launched its beta version. 
  • The platform’s audacious claims to dismantle the monopoly of high-profile sportsbooks and empower its customers to attract attention. 
  • The project is still in its infancy and needs to appeal to both sports bettors and blockchain users to gain momentum.

 

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Betswap.gg

The Project Drew Substantial Media and Investor Attention

The Betswap project began in July of 2021. The team behind the crypto-based operator made significant efforts to promote this new enterprise, attracting the attention of a number of notable media sites. 

The initiative also attracted prominent investors such as the global venture capital firm Shima Capital, the technology investment trust M6, the global asset manager DSA, and the investment business Wonderland.

Despite its formal release, the Betswap platform is in its infancy and lacks a number of essential functions. 

However, the basic business model remains operating, and consumers report a positive user experience, evoking favorable comparisons to the industry-leading sportsbook Betfair. The project’s road map goes until the end of the year and offers integration with additional games and services, as well as centralized exchange listing.

Betswap Guarantees a Player-Controlled, Decentralized Platform

Despite its excellent initial reception, it is still too early to tell the status and longevity of the Betswap platform. Nevertheless, if the enterprise delivers on its promises, it will have a good chance of capturing a previously unoccupied market segment.

According to an October Forbes article, Betswap’s major objective is to break the monopoly of the market’s few dominant operators. 

The platform intends to accomplish this by offering bettors with decentralized, global, unrestricted access. According to Betswap’s marketing materials, gamers can utilize the service without registering verification documents and enjoy instant deposits and withdrawals. The team designed their product to meet the requirements of sports betting enthusiasts while preserving its investment potential.

BETSGG spokesman Romy Jasmine expounded on some of the ideas driving the new sportsbook, suggesting that the underlying blockchain technology would alleviate many of the issues associated with conventional sportsbooks and deliver a greater customer experience. 

Apparently, the interconnection of the Betswap platform enables participants to wager against one another while enjoying lower fees than traditional bookies. BetSwap further asserts that it never retains user funds outside of active wagers, giving consumers greater financial flexibility.

Despite its beta status, BetSwap’s launch appears to be a relative success thus far. Users of Twitter have not experienced any platform-related concerns, and the BetSwap token has also been favorably accepted. 

As they progress in the area of blockchain betting, the team has promised further announcements and improvements in the upcoming months.

Due of the minimal overlap between sports bettors and blockchain enthusiasts, BetSwap may fall into the trap of appealing to a very niche audience, despite the project’s undeniable ambition. 

If the platform is able to garner interest from both parties, it has the potential to usher in a new era of crypto-based sportsbooks. Whether these goals will be realized is largely upon the BetSwap team’s ability to create a product that caters to two unique audiences.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.