UBET Sports launches on Polygon network

(PRESS RELEASE) -- UBET Sports today announces the launch of its decentralized crypto sports betting platform on Polygon network. A patient web3, football, and esports betting community can now enjoy the benefits of UBET’s most on-chain sports betting platform. With UBET Sports, bettors can be confident that every odd is boosted to the max. Bettors are also assured of non-custodial service, with players retaining ownership of their own funds rather than relying on a sportsbook to hold their cash.

Daniel J. Im, the co-founder/CEO of UBET Sports, has laid out a plan for revolutionizing the sports betting industry, with emerging markets as the focal point.

“There is an urgent need to improve a market that is currently marred by monopolized bookmakers who wield so much power against the bettor,” said Im.

Unlike other crypto sportsbooks where the odds are still set on off-chain, UBET uses its proprietary technology to set the odds from blockchain. Mr. Im believes UBET Sports is bringing its unique UBET AMM into the decentralized sports betting space. It solves the existing problems with Uniswap AMMs, which are commonly used in the crypto sports betting world. For example, the inability to quickly adjust to market odd fluctuations in unanticipated pre-game and in-game events, and the inability to initialize liquidity for each market given that sports betting markets require near-instant settlement.

The CTO and co-founder Alexander Kondratskiy said the major issue that UBET Sports addresses is odds discrepancies and impermanent loss, both of which are detrimental to bettors and liquidity providers respectively.

"We are working towards providing more opportunities for bettors and liquidity providers, regardless of market conditions,” said Kondratskiy. “Our technological improvement will be significant to the sports betting space.”