Betting on Solana

Get your digital chips in order

Who doesn’t love a good bet? The gambling industry is a massive money-making machine with online gambling valued at over $300 million dollars since 2018. Traditional casinos are still making the most with over $60 Billion to date.

Gambling has had its fair share of regulations placed on it and has only recently seen a bit of leniency. Online gambling has offered new ways for players to make their bets and gain instant gratification from their winnings. The gambling industry has been centralized for a long time meaning that no matter the winnings sometimes the house may take a very large cut and leave you with far less than you won.

Betdex is being built on Solana to provide a decentralized option for betting online. Speaking on the weak offerings of centralized betting protocols and shady practices of Sportsbooks, Betdex is poised to provide the innovation needed for users to have high speeds and low transaction costs, the company plans to eliminate counterparty risk. Betdex is permissionless and allows for anyone to build their own applications on top of their protocol. This means you could create your own online casino or betting game and place it on the Solana blockchain.

This protocol allows for worldwide sports betting and gains. The platform can handle 50K transactions per second, has an average cost of $0.00025 per transaction, and is part of the fastest blockchain in the world. The platform will never hold your funds as they will remain in your wallet. If there is a matched bet it will be on an auditable escrow contract created on the blockchain. This escrow contract will settle based upon the outcome and remit funds accordingly.

If you want to learn more about betdex you can find more info on their site here. Take a good look, maybe create a project, and may the odds be ever in your favor!

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