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Peer-to-peer sports betting is the future of online gambling

Here we have few reasons to show why P2P Sports Betting is going to be the new norm in the world of online gambling.

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Sports betting across the globe is a 150 billion USD industry. With the technological advancements and growing interest in sports betting, this industry witnesses new trends very frequently. Added to that came the 2018 ruling of the United States Supreme Court, which gave states their freedom to legalize sports betting and have their own sports betting regulations.

In this context, we see that Peer-to-Peer (P2P) Sports betting is a real gamechanger. It completely shifts the idea of playing with fixed bets. In P2P betting, you can ask for the odds that you want and place your bets accordingly. Here you can not only place your wagers and bets but also play as a bookie and take bets from your peers.

Here we have few reasons to show why P2P Sports Betting is going to be the new norm in the world of online gambling.

#1 Increasing popularity of Sports Betting

Sports’ betting is now getting legalized across different parts of the world. This means more players would engage in betting and indulge in P2P betting. Even today, P2P betting is witnessing huge participation from players worldwide. After the Supreme Court ruling, almost every state is forming new associations with renowned sportsbooks, for instance, the Washington state which recently witnessed the launch of the William Hill sportsbook. Then there are Fantasy League platforms that allow players to bet against each other (even offline), with the winner walking away with the pot.

#2 Peer-to-Peer is a Gen Z thingy

Generation Z is transforming the way existing business processes and norms. These individuals are born between the mid-90s and mid-2000s and it is predicted that by 2021, almost 40% of the US would be filled with Gen Z. This generation has overtaken the millennials in the way they conduct business, connect with people, exchange ideas, and whatnot. Financial transactions over P2P platforms like PayPal are a reality. This shows that Gen Z places their trust in P2P ideas and would surely take that to their interest in online sports betting.

#3 Blockchain is a P2P system

Most of us think that Blockchain is only about bitcoins. Blockchain is an excellent example of a peer-to-peer distributed ledger network. Here every node (peer) in the network has to validate a transaction to take place. Most of the major banks are now securing their networks and transactions using P2P technology.

#4 No more Middleman

Before the rise of online betting and gambling, if you did not know a bookie then you would have had a hard time placing your bets. There were loads of hassles and troubles to validate the payments. What’s new now? With P2P sports betting even you can act as the bookie. You can use simple online platforms or even cryptocurrency for payments. There is no involvement of any middleman, no hassles, and complete transparency.

#5 P2P betting is beneficial for sports leagues

Sports leagues would encourage betting to become an integral part of the viewing experience. P2P betting and its benefits would be a real game-changer for these leagues as they are eying huge profits. Online gambling is easy and convenient, and with P2P betting, it just got bigger and better.

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