A look at favorite games, other Blockchain sports betting sites in MA
Blockchain technology has existed for several years, and has helped shake up the banking industry, among other sectors. Now it can find its way into the budding sports betting the market, which Favorite game have reported that they will build their product on a blockchain basis.
The central feature of blockchain sports betting is the ability to use your crypto wallet to fund your bets. Fave Bet has not been licensed in Massachusettsand the company has not applied for it.
Online sports betting in Massachusetts has been live for several weeks, but currently consumers cannot bet legally with Fave Bet in the Commonwealth.
But could that change soon?
What is your favorite game?
Unfortunately, until now, Fave Bet has not released much information about their plans to launch theirs platform for sports betting.
Information about FaveBet is currently only available through the company’s website Disagreement server and the site is invitation only at this time.
A tweet from March 29 indicates that a website and mobile app are on the way, but we couldn’t find any more information than that.
In a series of tweets in Marchgave the company an explanation of their philosophy:
At the heart of Fave Bet is FAVORITE, the symbol that drives your activity on the platform. Using your wallet, you can buy the FAVE token, which “rules the platform, burns with every stake and is 100% owned by our community,” according to company statements.
“FAVE BET brings a new option, aimed at the next generation of players,” the company tweeted. The biggest revelation from Fave Bet is their commitment to fluid, user-friendly interface.
Users will not be required to create an account, according to the company. Instead, customers have three simple steps to follow:
- Connect to wallet
- Set game
- Get paid
Fave Bet also shows “no win limits,” which means players will not be subject to being banned after “winning too much” at traditional sportsbooks.
Is Fave Bet Legal in Massachusetts?
A blockchain sportsbook is still a sportsbook. It requires a sports betting license to be legal in the United States
At this time Fave Bet has not applied for such a license in Massachusetts. If it did, the company would be subject to the same scrutiny that other operators enjoy DraftKings MA and FanDuel MA.
Part of the appeal of Fave Bet is the anonymity and security of blockchain transactions.
“Blockchain and betting are the perfect companions, and betting with your cryptocurrency has never been easier or safer,” Fave Bet said on social media in March. “You can now keep your money safe in your own custody until you are ready to bet.”
Users of blockchain technology and supporters of cryptocurrency wallets are attracted by alternative offers for banking and consumer purchases. With sports betting now legal more than 30 statesis it not surprising that a blockchain playbook is emerging.
It remains to be seen whether Fave Bet will attract customers to its marketplace when and if it launches a sports betting product.
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