Degens.com - officially known as the SportCrypt, is a decentralized sports betting exchange that has been operating on the Ethereum blockchain since 2017. The resource accepts bets in both the DAI and ETH cryptocurrencies. Peer-to-peer sports betting is exchanged by using the ethereum smart contracts. The lowest fees in the industry - 0.5% on winning bets.
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History of Degens
Degens - a sports betting exchange, that uses the popular ETH and DAI cryptocurrencies. The platform has been running on the Ethereum blockchain since 2017. “Degens” - a humorous self-derogatory term, meaning “degenerates”. It originated in sports betting and poker communities. There is no White Paper on the platform and, therefore, users can get acquainted with the service principles in the "Help" section. The resource doesn’t require registration. There are also no geographical restrictions on the site. In fact, you can place bets from anywhere in the world. There are no referral or bonus programs on the platform. However, the service offers the lowest fees - 0.5% on the winning bets.
Advantages of dapp for sports betting
If we compare sports betting exchanges with ordinary bookmakers, then the first has a number of advantages for each user:
- Firstly, the best odds. You make exchanges on equal terms with other users and not against the resource. Thus, the resource is interested in your winnings, since it receives a small profit from it.
- Secondly, the ability to trade in the game. At Degens, you can trade and exit your position at any time, up to the end of the match.
- Thirdly, there are no restrictions on bets. Since you are not betting against the resource, there are no restrictions. The main thing - to find someone to take the other side.
- Fourthly, set your own coefficients. The biggest advantage of betting - the ability to enter your own coefficients.
The main difference - you are betting on equal terms against other parties on the exchange. In a regular bookmaker you bet against the office itself. This model gives the player many advantages. Also, to learn about new developments of the site, you can subscribe to Twitter or Telegram-channel. Due to the lack of RoadMap, this will make it possible to follow the latest news.
Degens vs other exchanges
Compared directly to Degens, it offers many advantages over traditional betting exchanges. The most basic of them:
| The lowest fees | Degens charges the lowest fee in the industry. |
| Anonymity | No need to register or provide information about your billing information. All bets are made 100% anonymously. |
| Funds safety | The service uses Ethereum smart contracts. This means that the resource doesn’t store your funds. |
| Using cryptocurrency | The service uses ETH as well as DAI. No need to use credit cards, bank transfers and the like. |
| Instant deposits / withdrawals | Deposits and withdrawals occur instantly. |
Given that most exchanges delay the withdrawal of funds, due to bank transfers and the bureaucratic component, personal funds often have to wait from 1 to 3 working days. In the crypto world, this issue has long been resolved and users receive their funds instantly.
Also in Degens there is no need to register and fill in personal data. In view of this, you don’t need to wait for receipt of an identity verification. All you need to start using the platform - the Ethereum-enabled wallet. Thus, the absence of an audit of a smart contract doesn’t pose a threat to the safety of your funds. Since they are always stored in your wallet. If you plan to use a computer, it’s better to use the MetaMask browser extension. If it will be a mobile device, most users use Trust Wallet or MetaMask mobile. Other dApp mobile browsers, such as Cipher Browser and AlphaWallet, are also supported.