The available betting pool is low when you gamble with buddies. Online sportsbooks serve a purpose by connecting gamblers across a larger region.
Of course, the problem here is that betting sites also have a great deal of control over the industry. They collectively determine the odds and take vig out of each wager.
You may not like the odds and/or the markets offered in your region. Nevertheless, you simply have to take what the available bookmakers provide.
Decentralized betting differs in this manner. Again, you and other sports gamblers determine the odds and markets covered.
Low Fees (Vig)
Most bookmakers do their best to avoid gouging gamblers on the juice. After all, they have competition that could easily steal customers by offering lower vig.
Nevertheless, sportsbooks collect around 5% juice (10% from the losing side) on average from the sum of wagers. This extra 5% cuts into a bettor’s profit margin.
Gamblers would prefer to reduce the bookie’s 5% commission. However, it’s rather standard for sportsbooks to earn around a nickel on every dollar wagered.
Decentralized gambling platforms, on the other hand, take out much smaller fees. They generally only collect around 1% or less from the sum of all bets.
This 1% doesn’t go towards lining the founders’ pockets. Instead, it serves as a network fee that covers the developers’ work and any potential master nodes.
No Restricted Countries
Due to laws in the jurisdictions where they operate, betting sites must restrict certain countries and territories. For example, a bookmaker that only operates with a license from the UK Gambling Commission must ban everybody outside of the UK.
It’s perfectly reasonable for internet sportsbooks to follow laws in their place of operation. Regardless, you probably don’t enjoy being barred from many markets.
Decentralized platforms don’t come with the same restrictions. Given that they don’t have central operators, they also avoid banning any countries.
The online bookmaking industry is largely trustworthy. After all, word quickly spreads around the internet about any rogue operators.
Nevertheless, not every gambler has complete faith in a betting site located hundreds or even thousands of miles away. They may be suspicious that a bookmaker won’t honor a big win.
The same fear doesn’t come about with decentralized gambling. The latter even gives you the means to verify the authenticity of wagers using blockchain technology.
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