Do any of you bet on sports? 

Why do you think political betting took off onchain before sports betting?

What problems would being onchain solve for sports betting?

It probably won’t help the reputation of crypto, but sports betting feels like the next obvious onchain use case.

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Currently, there are already a lot of existing platforms that exists for sports betting offchain that work. In addition, the regulatory hurdle surrounding sports betting makes it a even harder challenge. 

There are a lot of issues that onchain sports betting will solve but the most important is the misaligned incentives between the platform and the user. From first principles, blockchains remove intermediaries and allow for trustless settlement of transactions. While we think the knee jerk reaction to this realization was to create DeFi (disintermediate banking), we believe a less obvious application is the disintermediation of the sportsbook, who charge high fees and ban profitable bettors at their discretion.