Reasons I'm Buying SBET (Sportbet.one)

in LeoFinance3 months ago

I have been keeping an eye on Sportbet.one which is a bookie operating on the EOS blockchain for the last 8+ months cost averaging my way into their SBET token. Yesterday I bought some more, these are the reasons why...


To start, the purpose of this article is just to provide information sharing my personal view as a sports bettor & crypto enthusiast on this project. By no means take any of what I write down as investment advice and do your own research. The crypto space involves extremely high risk.


  • Personal Interest

    I have been a sports bettor for nearly 20 years now so I have a personal bias for projects in this space. I strongly believe Blockchain will disrupt the bookmaking industry even though it will likely take a long time. The main problems that need to be solved in this industry are the profit margins or commissions bookies and exchanges charge. Sportbet.one doesn't offer a solution for this but they do improve on many of the problems traditional bookmakers currently have. Sportbet.one allows taking bets on their bookie directly from your EOS wallet without having to make a deposit or having to go through KYC. They also won't limit individual winning players similar unlike nearly all traditional non-Asian bookmakers now.

  • Development & Team

    If I learned anything during the past 3 years, it's that the team and how they handle the development is extremely important. I have seen some good progression and improvements on the sportbet.one platform these past 8 months. The Devs are very responsive and just continue building moving things forward. (Despite suffering a hack a while back and the lack in sports due to covid-19) They also have a healthy active Telegram Channel. and bring regular updates on what is happening with the platform on Twitter (@sportbetone). So far I have no reason to believe they are running some kind of scheme a is the case with many / most crypto projects.

  • Working Product & Real Revenue

    The sportbet.one bookie is fully operational and working properly. In crypto, this is often a disadvantage because it gives something tangible which the value of the token can be based upon leaving way less room for speculative bubble prices. Their website is also a beauty and has a really clean user interface.


  • Dividends

    The unquestionable best way for most people to earn from the Sports Betting market is to own part the bookie. This is exactly what the SBET token is offering with 3% of the total betting volume being paid out to SBET token holders in the form of weekly dividends. I'm always on the lookout for projects that both produce an earnings cash flow while there is still a lot of growth potential. This project for sure qualifies for this because they are still relatively new and under the radar but have a product that could get adopted by sports bettors quickly.
    I have been keeping close track of the weekly Dividends and things are picking up again after the lack of Sports due to the Covid-19 Situation with many of the leagues starting again. Last week there were 105 individual accounts that took at least 1 bet on their platform. 10000 SBET currently costs 11.06 EOS and paid 0.045 EOS in Dividends good for 0.41% Weekly ROI . With only a couple of leagues running right now, the volume should continue to increase from here as more events and different sports start again. The average range of dividends in relation to the price is generally around 0.5%-0.7%. in case the platform succeeds to get wider adoption, the price of SBET will naturally go up if Dividends increase.

  • No Ponzi Mining

    Most crypto gambling sites operate on a scheme were players mine coins by playing wich gives them dividends from losses of future players. Mining also always gets more difficult which makes it that many players come in initially to mine but as time goes by the Ponzi tends to collapse. Sportbet.one has no mining or anything like that. The SBET token is a way for the devs to raise the needed funds to run their bookie. They own the majority of them (66%) and they plan to keep a very large stake from what I have read so they won't get dumped on the market. There are a total of 1 Billion coins and 400 Million of them are in circulation of which 380 Million are staked and receive dividends. So there is no big treat that the value will get slashed or inflated anytime soon.

  • Buy & Sell Wall

    The team are both selling and buying their own SBET tokens on Newdex which leaves the option to get out and sell whenever you want.


  • Valuation

    Even when counting the 1 Billion total coin Supply, the valuation of Sportbet.one would currently be 2.8 Million Dollar. Given the fact that they already have a solid working product, not all that much is needed to potentially make it worth a lot more if they succeed in getting more users.


  • Social Media Logins

    You can basically log in already with existing social media accounts which should help when it comes down to adoption. There is no need for a complicated procedure creating a blockchain account with its own wallet. When using one of these login methods, an EOS wallet will be created and users who don't want to deal with the blockchain aspect from the start can make a deposit with traditional methods.


  • No Transaction Fees

    One of the major problems with Sports Betting on the Blockchain is the transaction fees it brings about. It is simply impossible to take bets that require even a 0.1$ fee each time let alone the current 1$+ fees on Ethereum right now. To do transactions on the EOS blockchain, you need the have CPU staked. The good thing is that Dapp developers can provide this CPU for their users so transactions are free for them which is how it should be.

  • Live Betting & Live Streams

    Sportbet.one offers live betting and also shows live streams on their website for most major events which is a huge selling point for casual gamblers and should really help adoption.


  • Potential Dangers

    There are a couple of aspects about this project I remain cautious about. To start, I rather see Dividends being directly linked to actual revenue in a fully responsible way instead of it being 3% of the betting volume. Betting can be done without KYC and directly from any EOS wallet, they can't just ban or limit winning players and need alternative ways to prevent getting hit. There are enough tricks and tools that can be used to reduce this risk that it doesn't really get me all that worried though. Regulations are a bigger point of worry as I have no idea how betting licenses and such are legally handheld. Is it legal and can they potentially be shut down?

Conclusion

I really like what the sportbet.one team have created and do see real value in their SBET token especially if they manage to get more widely adopted which would increase the overall volume. I currently have a small percentage of my portfolio in their SBET token. I will be raking in the dividends each week while I continue keeping a close eye on the progress making regular update reports about it along the way.


Posted Using LeoFinance