It’s been since 2016 that the U.S. Supreme Court in essence opened the floodgates to legalized online betting in the U.S. They struck down the federal law that banned online sports betting across the country. With that decision, the power was given to the states to create their betting laws and bring online sports betting out of the dark and to the forefront. With this ruling sportsbook operators started popping up all over the internet. Some are completely legal and legit. The vast majority of them are illegal with no actual license to legally operate. However, both of these types of sportsbooks had one big thing in common. They don’t like when you win consistently. They want to be the only ones making money. They don’t like when you make money on them. Bookmakers want to be the only ones to have the odds.
Traditional sportsbooks did not become massive billion dollar entities by allowing bettors to win consistently. You see traditional sportsbooks are businesses and they can’t afford to consistently have to pay out bet after bet to “professional” sports bettors. Which causes them a problem, making it seem as if an everyday bettor has a chance to win against their odds while simultaneously fearing having to pay out to those bettors combined with professional bettors. Online sportsbooks want casual bettors to utilize their sites. They want that person to feel like they can win against the posted odds. They want the bettor that is given a bonus upon sign up that immediately throws down their own and the bonus money on a bet the site knows will never win a dime for that bettor. This is the bettor books love. These are the people they feed off of. Traditional sportsbooks hate taking bets from professional bettors. Professional bettors are not who they want to see on their sites. They are the ones that can cause them to lose money and sometimes lose a lot of money. This is where the professional bettor can and indeed will get banned from betting on traditional sportsbooks. So how can you keep from getting banned from a sports betting site?
Peer to peer is the best answer for this. Peer to peer is like you and your neighbor that root for opposing teams making a handshake bet over the fence. The problem with peer to peer, there’s never really been that option for online sports betting. Sportsbooks want to make all the money. They don’t want Jimmy and his brother Manny taking space on their site making bets between themselves and their friends. Until now…….
BetU, since it was just a thought by CEO Paul Rogash, in early 2021 was keen on having both available to sports bettors. BetU is ready to launch a sports betting platform the encourages both. Yes, they will have odds as all sports betting books do with those odds being integrated with bet radar a service many books use. But peer to peer is what is interesting with this platform. If a professional bettor wants to feel like their own book they will have to opportunity to offer their bet to the platform and anyone will be able to take that bet. This kind of betting will be powered and achieved because BetU will be the first sports betting platform that utilizes crypto, all bets on the site will only be made by and accepted by the native BetU token. When you go to BetU to make a bet you’ll need to convert your currency to the BetU token. Want to make a $1,000 bet convert $1,000 to BetU and bet away. Once you put a bet up and that bet is accepted both party’s tokens are then locked and put on the blockchain. It will also fall under an impartial referee to keep from any cheating happening. Once the match is over the winning bet is determined and tokens distributed to the winner. This type of platform for betting can truly solve the issue you hear over and over by bettors of being banned due to winning too much. The active betting members of the BetU site can truly determine if your bet will be taken or not. Not the BetU sportsbook in form of a banning.
To say this kind of platform could be revolutionary is an understatement. It could very well become the preferred method and platform for sports betting in the world. And I’m sure will usher in other platforms that will allow peer-to-peer betting as well in the future. BetU can become a trailblazer in changing the way online sports betting is conducted to the public. According to the information on BetU’s website, their platform will be ready to launch on October 24th in time for betting on premier league soccer. It’s worth a look to see how this can be a major game changer for years to come.