I've been invested cost-averaging my way into SBET for the last 120+ Weeks now getting reliable weekly dividends from them. Ever since they moved from newdex.io to Defis.network it has become a lot more complicated to actually buy or sell SBET to the point where it felt impossible. Since I wanted to buy more believing it is undervalued, I took the time to figure out how to actually get it to work successfully adding quite some to my own bag last week.
This is the chart I personally have been keeping for the past 2+ years of the SBET Price and Dividends. At the current price and dividends of last week, SBET provides +65% APY which comes from actual volume and users on their sportbet.one bookie.
SBET is not a coin that needs a lot of trading, it's mostly for people that want to invest in the platform long-term getting weekly payouts that come from profits made by their sportbet.one bookmaker which in my view (as a sports bettor) is one of the better crypto betting options out there. At least 70% is held by the developers as it is their main way to earn from their own product.
They used to put up buy & sell walls on Newdex but moved to Defis.network after Gambling-related coins got delisted on newdex. I never had any issues collecting dividends or taking bets on the platform and no longer have an issue buying or selling after learning how it's done.
How To Buy or Sell (Step-By-Step Guide)
One of the reasons why I struggled is because apparently swapping coins on Defis.network only works on mobile these days for some reason.
1. Create an EOS Account
So the sportbet.one website allows new users to log in with their social media account after which the website creates a free EOS account for them. This is done to make it convenient for players who just want to bet without wanting to deal with blockchain or private keys. These accounts and the funds on them are kept centralized by the team similar to regular bookmakers.
I made a new EOS account since I didn't want to enter the private key of my main EOS account on my phone. When you already have an account it's as easy as going to https://bloks.io/wallet/create-account where you can create another one at a cost of 0.2876 EOS.
The easiest way for people who don't yet have an EOS account to get one is to simply download the Anchor Wallet on your mobile phone. Click Add account, choose a username and pay 1.99$ or 1.99€ directly from your IOS and Android payment option.
I'm sure when you google it you will find other ways to create EOS accounts and even free options even though you will need to make sure they are safe. Making your own I would say is by far the best option. Once you have your account, you should be able to get your private active and Owner keys.
2. Download Token Pocket Wallet
The Anchor mobile wallet for as far as I know is not supported by defis.network where SBET is trading. What worked for me was downloading the Token Pocket Wallet app on my Phone.
Once you have that on your phone, simply select EOS and enter the private key of your account to connect it to the wallet.
3. Fund Your EOS Account
in order to buy or sell SBET you will need to have the funds on your EOS account to do so and enough resources (RAM/NET/CPU) in order to do transactions on the EOS Blockchain.- Funding your account is as easy as withdrawing EOS from an exchange like Coinbase or Binance to your own EOS account.
- Getting Resources in order to make a trade can be done one eospowerup.io
The free PowerUp is enough to make 1 swap and you can claim 2 free powerups daily. If you want to do more transactions, you can choose the auto function and fund your account with some EOS which automatically is used to buy the needed resources to use the network.
4. Buying/Selling SBET
So with your own EOS account with enough resources and funds having Token Pocket installed these are the steps needed.
- Select Discover Tab and look for the DFS Dapp (not Defis.network) adding it to your my dapps list.
- Click the dapp icon once it is there and go to the trade Tab where you can select SBET as a currency to buy or sell.
Making strades there should work!
Conclusion
Sportbet.one has been one of the better Crypto Sports Betting Platforms to use for me and I being invested in their SBET token also has brought about some solid weekly returns. However, in order to Buy or Sell SBET, you really need to know the very specific ways how it can be done only on mobile needing an EOS account. There is less than 10M SBET in the liquidity pool so it's hard to Buy or Sell without moving the price a lot. Since it is trading against EOS, you often are able to get it quite cheap when the market tanks which is how I have cost-averaged my way in. It remains a very high risk investment with potentially high rewards if it does get more adoption.
Full Guides to Decentralized Crypto Bookies I personally use where no KYC is required allowing anonymous betting from any location without individual limits for winning players...
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