THE IMPACT OF BLOCKCHAIN ON THE SPORTS BETTING INDUSTRY

Many people associate blockchain with digital currencies. But did you know that this technology has more to offer than cryptocurrencies? And this not only applies to financial transactions but also to sports betting, an industry that has been on the up and up in the last decade. So. how does this technology work and why should punters be happy about its growth concerning sports betting?

Blockchain is best described as a distributed database such that its files are available on a chain of computers. That way, verifying the data only takes place when all the computers on the network consent to this, making it quite hard for anyone to interfere with the data. Add the fact that the data-containing blocks do not contain people’s names and there lies a major sports betting perk – privacy! That means that if you take up bonuses such as this Betfair welcome offer, you can sign up and start playing without divulging your data – how great is that! We look at how blockchain technology has impacted sports betting for good:

1. It Instills Confidence in the Fairness of the Bookies
2. It Streamlines Payments
3. It is Secure

Source: https://aboutmanchester.co.uk/the-impact-of-blockchain-on-the-sports-betting-industry/