VaultBet recently announced a partnership with InfinitySwap to integrate Bitfinity Wallet. The collaboration will be helpful in advancing the Internet Computer ecosystem.
As a reliable crypto sportsbook, VaultBet is a viable alternative to centralized betting exchanges and bookmakers. Since it uses smart contract technology, VaultBet proposes a P2P, secure, and trustless platform for bets.
With VaultBet, users gain complete control, allowing the market to determine the game’s odds. This makes the sports betting experience safer, more fun, and fairer since it removes the bookies’ control.
On the other hand, Bitfinity Wallet is InfinitySwap’s safest crypto wallet in the market. By integrating Bitfinity Wallet, VaultBet will continue to work towards its goals for 2023. The platform aims to enable BTC transactions via integration. It will allow VaultBet to provide a secondary market system while adding more sports betting markets.
The platform uses crypto for payments, maintaining seamless operations 24/7. It also offers liquidity and profitable odds to a global audience. VaultBet facilitates trading by splitting bets into Bet Contracts.
Every bet contract is equal to 1 ICP, containing locked funds from both the Seller and Buyer of the bet. The amount contributed by both parties establishes a risk-to-reward ratio. Thus, the process determines the odds of the position safely.
On the other hand, standard bookmakers do not deal in odds. They usually bake a profit margin they put forward, known as overground. This rate can go up to 30% in some cases, skewing the odds in their favour.
It means that the bookmaker will eventually end up winning as long as users continue to bet. Given the trust VaultBet and InfinitySwap have accrued, their partnership is expected to revolutionize this tendency.