Sports bettors are eagerly awaiting blockchain-powered sports betting services that feature audited smart contracts, user-friendly policies, low commissions and fees — and significant trading volumes.
Kimkibu makes money through sports betting. Based in South Korea, he trades primarily on Betfair, one of the largest online betting exchanges, with bets placed in pounds sterling, dollars and other government currencies.
Last year, he started trading on cryptocurrency-based platforms such as Polymarket, Degens and SX Bet, mainly because commissions from bonuses were cheaper than Betfair.
“If I find a similar low-commission product, I’ll move there,” Kimkibu said.
This piece is part of CoinDesk Sports Week.
Despite this, these alternative betting venues account for only 10% of transactions by Istanbul locals. “I wish I could move completely from Betfair to these platforms, but unfortunately they don’t have enough volume,” Kimkibu said.
