With the traditional sports betting space quite saturated in 2023, it's rare to come across a unique product that keeps the bettor in mind. Rather than being yet another money-churning machine, SX.bet is a unique offering that keeps users at the heart of the project.
We've broken down some ways in which SX.bet is changing the industry for the better.
Modernising sports betting with the use of cryptocurrency
Sports betting is quick and just as safe when using cryptocurrency.
Using cryptocurrency to bet on sports offers a number of advantages that benefit you, the bettor. Privacy is desirable in a modern world where data can be so precious and used for nefarious purposes, so the security of blockchain technology could be a bonus.
If you're unfamiliar with cryptocurrency and the blockchain, then this feels like a pretty good analogy: imagine taking all of your personal data, storing it in a big vault, and then letting someone try to get to it with a plastic knife.
You'll be able to read more in this article about how SX.bet use the power of blockchain technology for sports betting.
The speed at which the blockchain operates (registers and processes transactions and instructions) also means it's very fast to deposit and withdraw your betting funds.
Deposits are instant, like a bookmaker, but you're able to link directly to where you store your crypto funds rather than entering card details, which can make the process faster.
The flip side of that is when you win, the technology is able to process your bet instantly, and if you want to withdraw your winnings, they could be back in your crypto wallet within minutes of an event finishing.
Betting with SX.bet is an enjoyable, communal activity
One major benefit is that part of the idea behind the website is to build a community of bettors who happily coexist, whilst betting against each other.
The first thing you'll notice when you visit the website is a chat box pops up in the bottom left corner. It's cool, it's unique, and it allows you to communicate with other bettors that are online.
At the top of the page, you'll find a number of square banners that will show you the latest rewards, bonuses, tournaments and other special offers.
Their weekly tournaments allow bettors to compete for prize pools of up to $5000+. You'll be rewarded based on your betting activity and level of success. For example, they may run a tournament where the whole community bets on the World Cup, with the most successful members winning a bigger share of the prize.
Find out more about that on our SX.bet bookmaker review.
Providing safe space for bettors
When you bet with a traditional bookmaker, some risk does exist that you'll be limited. When you bet with SX.bet, this is extremely unlikely.
You can read more about this point in the article Being limited as a sports bettor, but in short, SX.bet is a safe space where serious sports bettors can bet without fear of being limited.
SX.bet is a peer-to-peer betting exchange meaning that when you place a bet on one side of a market, you need a fellow user to be betting against you on the opposite outcome. The loser pays out the winner, and SX.bet takes a small cut for their troubles.
This is a model that isn't limited to them, but it is one of the most pleasing features of the site that makes it worthy of joining.
Additional perks of using SX.bet
The cryptocurrency space is full of projects that need the support of their users to flourish. More specifically, a bookmaker that operates in cryptocurrency needs to offer something above and beyond your regular bookmaker.
Another way in which SX.bet does that is by allowing the user to buy, stake and put their faith in their native token, SX Token, and be rewarded through the community fund.
The community fund, usually worth several million dollars at any given time, is used to pay out the competitions we've mentioned above, but that isn't all.
When you invest in SX Token, a percentage goes toward the community fund. The more people invest in and hold SX Token, the more its value could increase.
All of this helps the security and growth of SX.bet, which could mean greater rewards for the users.
As of 2023, SX.bet has paid out over $2,000,000 in rewards to users who stake in and bet with the cryptocurrency SX Token. The payouts that are taken from the community fund are amassed by users purchasing the native currency.
One benefit of owning and betting with SX Token is that you'll be rewarded with a lower commission than users who don't.
Another cool aspect of owning and staking SX Token is that you get to have a say in the governance of the project.
If there's a decision that needs to be made on how to utilise the community fund, you and other users get a say in that by way of a community vote.
Things you might be invited to vote on with such projects could typically involve improvements to the website, investment in other cryptocurrencies, or how much the next competition prize pot should be.
In March 2022, SX.bet responded to feedback from the community on how they offered discount fees to users. They produced a new discount schedule that users were able to vote on and pass into existence.