What is StreetBets?
Powered by Azuro, StreetBets is a decentralized sports betting platform. Users do not have to KYC, there are no bans, and you get instant payments.
How to Use StreetBets
Read and accept the term of service to proceed.
Connect your web3 wallet.
Once your wallet is connected, you can proceed to place your bets.
The interface is user -friendly with all the important stats visible on the dashboard.
StreetBets offers great sports betting markets including football, tennis, basketball, boxing and so much more.
Choose the market you wish to bet on and the event.
Choose the odds and amount you wish to place on your bet.
Set your spending cap.
Approve the contract.
Place your bet.
Pay the gas fee.
Once you’ve placed your bet, you can track your positions easily under ‘My Bets’ on the dashboard.
StreetBets also has a great referral program for those who wish to make passive income by inviting fellow bettors to use thee platform.
What Exactly Is Decentralized Betting?
Decentralized betting flips the script on traditional betting by removing the middleman. Instead of relying on centralized platforms – where the house sets the rules, holds your money, and can shut down your account – decentralized betting operates on the blockchain. This means every transaction, every bet, and every payout is handled by smart contracts, making the process transparent and tamper-proof.
Think of it like this: in a traditional sportsbook or casino, you’re trusting the company to manage your bets and your winnings. But in decentralized betting, the trust shifts to the blockchain. Smart contracts automatically execute bets and handle payouts based on predetermined rules, and since everything is recorded on a public ledger, anyone can verify that things are fair.
The Problems Decentralized Betting Solves
If you’ve ever been into online betting, chances are you’ve faced some frustrating hurdles:
- KYC and Privacy Issues: Most betting platforms require Know Your Customer (KYC) checks, meaning you have to give up your personal information. If you’re like me, the idea of handing over sensitive data to a platform just to place a bet feels invasive.
- Account Restrictions: Many platforms impose limits on successful bettors or even ban accounts that are too profitable. Nothing feels worse than hitting a streak only to have your account restricted or closed.
- Delayed Payouts: In the traditional world of betting, waiting for your winnings to hit your account can sometimes take days or weeks. And let’s be real—when you win, you want your money now.
- Opaque Odds: Ever wonder if the odds really reflect the actual probability of an outcome, or are you being squeezed by the house’s profit margins? Traditional betting platforms don’t always make that clear.
- Decentralized betting eliminates these problems. There’s no KYC, no shady house rules to restrict winners, and payouts happen automatically through smart contracts as soon as a bet is resolved. Plus, because everything is on-chain, you can see the odds, the bets, and the payouts. No more wondering if the house is playing fair.
The Power of Blockchain: Trustless and Transparent
Here’s where decentralized betting shines: trustlessness. This isn’t about placing trust in a company to handle your money. It’s about trusting the technology itself. When you place a bet on a decentralized platform, the bet goes into a smart contract—a piece of code that automatically executes the bet based on the agreed terms. There’s no human intervention, no funny business, no one to deny your payout.
Let’s say you’re betting on a football game. Once the match ends, the smart contract evaluates the outcome using data from oracles (which pull real-world information into the blockchain), and if you’ve won, the payout is instant and automatic. There’s no waiting period, no appeals, no middleman who might delay or dispute your winnings.
Betting with Freedom: Your Account, Your Money
One of the biggest perks of decentralized betting is freedom. In traditional betting, you’re always at the mercy of the platform’s rules. If you bet too much, win too often, or even if your betting pattern seems suspicious to their algorithms, they might limit or even close your account. In decentralized betting, this isn’t an issue because the system doesn’t care about how successful you are – it’s just executing smart contracts. Your funds are never held by a third party, so no one can freeze or block your account.
Another exciting feature is no minimum or maximum limits. Since decentralized betting platforms are powered by liquidity pools, your bets are only limited by the liquidity in the pool itself, not by arbitrary platform limits. Whether you’re placing micro-bets or throwing down tens of thousands of dollars, the smart contracts execute based on what’s available in the pool, making betting accessible to everyone from casual gamblers to high-rollers.
The Platforms Leading the Charge
Several decentralized betting platforms have emerged in recent years, each bringing something new to the table. Take, for instance, XYZBET, which operates through the Telegram interface. It doesn’t require KYC, and you can place bets directly within the app with no risk of your account being frozen.
Platforms like DexWin offer live betting with instant cashouts, something that traditional platforms can only dream of implementing smoothly. Because funds are held on audited smart contracts, security is a given, and you can bet with peace of mind. Gamblr.xyz, on the other hand, is entirely non-custodial, meaning the platform never holds your funds – everything is managed through smart contracts, so you’re always in control.
Even better, decentralized platforms often come with generous incentives. Some, like DGBet, offer cashback on losses—sometimes as high as 70%. Imagine that: losing a bet but getting most of your money back. That’s the kind of player-first mentality that makes decentralized betting a no-brainer.
Why Decentralized Betting is the Future
The appeal of decentralized betting goes far beyond just the tech-savvy or crypto crowd. As more people become aware of the benefits – no KYC, instant payouts, full transparency – it’s clear that the old ways of betting are on their way out. Decentralized betting isn’t just an innovation; it’s a movement toward giving players control over their money, data, and freedom.
Sure, some traditional sportsbooks might still offer massive sign-up bonuses or flashy promotions, but can they offer the transparency and security that decentralized platforms do? Can they truly guarantee that your funds are safe, that your bets are fair, and that your privacy is respected?
It’s not just about playing the odds anymore. It’s about playing on your own terms. With decentralized betting, you’re not just placing a wager – you’re reclaiming control.
Wrapping Up
Betting should be fun, fair, and transparent, and that’s exactly what decentralized platforms are offering. Whether you’re a casual bettor, a seasoned gambler, or just curious about the future of Web3 applications, decentralized betting is worth exploring and StreetBets is a platform that will provide that satisfying web3 on-chain betting experience. And with the innovations we’re seeing in platforms like those powered by Azuro, the future is looking bright – transparent, decentralized, and fair.
