Key Takeaways

• Some popular crypto-based sports betting exchanges include Polymarket, BookiePro, Kryptium, and Mevu.
•  Polymarket is a decentralized information markets platform that enables users to "trade on the world’s most highly-debated topics (e.g. coronavirus, politics, current events, etc)." Information markets allow people to buy and sell shares predicting how a future event is likely to resolve.
• According to BookiePro, "no single person, company, or central authority owns or operates BookiePro. The BookiePro app is an application that interfaces with the Peerplays blockchain. As the Racing Post puts it: "...because of the way blockchains work, Peerplays is largely automated and self-sustaining. No one owns it, no single person or organization is responsible for it."

Introduction

Polymarket

•  Polymarket is a decentralized information markets platform that enables users to "trade on the world’s most highly-debated topics (e.g. coronavirus, politics, current events, etc)." Information markets allow people to buy and sell shares predicting how a future event is likely to resolve.
• On Polymarket, users can create their portfolio based on their forecasts and returns if they are correct. Once they buy shares in a market, they are contributing their knowledge, research, and their outlook of the future, making the platform a leading source of unbiased and real-time data about future events."
• Built on the Polygon blockchain, the Polymarket exchange allows users to buy and sell tokens without incurring any network charges. The exchange "uses USDC for transaction speed, security, and transparency." 
• Polymarket was founded in 2018 by Shayne Coplan. The company has received $4 million in funding from "Polychain Capital, AngelList co-founder Naval Ravikant, Balaji Srinivasan, Meltem Demirors, Robert Leshner of Compound, Aave’s Stani Kulechov, Synthetix’s Kain Warwick, major crypto VCs ParaFi and 1confirmation, Tarun Chitra, Kal Vepuri, Josh Hannah, Marc Bhargava, Samir Vasavada, and Calvin Liu."

BookiePro

• BookiePro is a decentralized betting exchange that enables people to bet on various sports events with play tokens. The platform automatically matches users' bets with others who want to take opposite sides of the bet.
• According to BookiePro, "no single person, company, or central authority owns or operates BookiePro. The BookiePro app is an application that interfaces with the Peerplays blockchain. As the Racing Post puts it: “...because of the way blockchains work, Peerplays is largely automated and self-sustaining. No one owns it, no single person or organization is responsible for it.”
• BookiePro offers the following advantages compared to centralized sportsbooks and their decentralized competitors:
•  Fairness. 
•  Real-time transparency of bet placement.
•  No slow payment. 
•  Zero possibility of funds being stolen.
• Bets are never refused, accounts are never limited or shut down.
• The presence of many market makers. 
• The ability to back and lay. 
• The ability to trade back and forth in markets.
• The platform charges a 1% commission on any net winnings in a particular market. They also charge 0.00001 mBTF in transaction fees when users place a bet, edit a bet, and change their password.
• The creation and development of the company is "supported by the Peerplays Blockchain Standards Association (PBSA), a non-profit organization based in Canada and dedicated to promoting transparent and fair gaming standards for the Peerplays blockchain." The Peerplays blockchain launched in 2017 and is "managed by a group of specialized software operators called “witnesses,” who are elected by digital shareholders who hold a token called “PPY.”

Kryptium

• Kryptium is a decentralized peer-to-peer betting exchange that "cuts out traditional bookmakers and allows players to bet against each other on their own terms."
• The exchange has the following features and benefits:
• It is decentralized and runs on the Ethereum blockchain network.
• It is a user-friendly peer-to-peer platform.
• It charges no taxes and has no limits on winnings and withdrawals.
• It is community-focused, where anyone can be the player, the house, or the data provider.
•  Other features include pool bets, head-to-head bets, and multiplayer bets. Kryptium's other benefits are safety, transparency, simplicity, extremely low commissions, the player is king and becomes the house, and privacy.
• Kryptium was founded in 2018 in Greece by George Christidis, Giannis Zarifis, and Yiannis Karalis.

Mevu

• Based in Canada, Mevu claims to be a revolution in online betting by using "smart contracts on the Ethereum blockchain to immutably and transparently store players' funds and information, providing players with confidence that their bets will be executed securely and quickly." 
• The decentralized exchange enables players to bet on virtually anything, set their own odds, and "enjoy a historically low 2% fee." According to Mevu, their platform "has been designed from the ground up to be tailored to the unique form of betting and settlement offered by the blockchain."
• The company was founded by Kelvin Coelho and Tim McCulloch in 2015, while the first draft of their white paper was released in October 2017.

Bethereum

• Bethereum is an "innovative social betting solution built on blockchain technology." According to their website, the company is designed to solve the main challenges of traditional betting and offers its users lots of unique features and improvements. 
• Some features and benefits that set Bethereum apart from the competition are:
•  Powerful technology. 
•  Provably fair. 
•  Fun and social. 
•  Maximum simplicity. 
•  Social engagement. 
•  Gamification. 
•   High speed at a low cost. 
•  Transparency and trust. 
•  Instant payouts. 
•  Vast ecosystem. 
• With Bethereum's decentralized betting exchange, users bet with friends and other players, and regardless of the results, the winnings stay within the group. The platform runs on "blockchain and smart contracts which ensure full transparency and security, while innovative social elements make for a truly rewarding experience."
• The company has received funding through one funding round from Loyal VC. Bethereum was founded by Martin Herman in 2017.

Other Blockchain Sports Betting Exchanges

• Below are other crypto-based sports betting exchanges:
•  All Inu Chip Flip: "a provider of blockchain-based P2P betting platform." 
•  YOUnited: "a Singaporean blockchain-enabled social betting & gaming platform."
• Betley: a "blockchain-based peer-to-peer betting platform based out of Australia. It allows players to register, join the community and participate in the bet with their friends. Players can use Betley token "BETS" for the bet on the platform."

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