Moonbet is Updating to Web3: Ushering in the Future of Crypto Betting
Hello Moonbet Community,
As you all know, from the beginning of the Moonbet project, we have been committed to creating a decentralized, community-owned crypto betting platform.
However, along the way we faced some challenges. Many sports betting data providers do not want to work with “decentralized” platforms due to KYC and anti-money laundering concerns.
A majority of gaming studios (ie. casino game creators) are also weary of putting their games into decentralized casinos out of fear that their reputation may be tarnished.
This made our journey to decentralization more difficult than expected.
Finding a way to Web3 betting
Although current players enjoy Moonbet, we have had a lot of feedback from our community regarding important elements such as anonymity, player safety, and more. Not that we were doing anything wrong, but that crypto bettors find these to be the most important issues when looking for a place to bet with their valued coins.
Over the past few months, while our original Moonbet.io Crypto Sportsbook & Casino was running, our team has been busy looking for an innovative way to make Web3 crypto betting a reality.
But, not just any Web3 betting. One that is trustworthy, safe, and most importantly, offers players an experience that can compete with the competition.
After months of searching, we have struck a solution that will allow Moonbet to offer Web3 capabilities while providing an unmatched sportsbook, eSports, and casino solution to our players.
This incredible solutions means that our players will have even more sports betting options, 1000s of casino games from top-tier providers, virtual sports, and much more.
The benefits of a Web3 betting platform
The most important aspect of Web3 betting is direct player integration.
Bettors can instantly connect to the platform using their MetaMask wallet or through WalletConnect, which allows a variety of major wallets to be integrated.
This means that players can remain anonymous and directly deposit their cryptocurrencies into the betting platform. Each player will receive a unique player ID (UID) that becomes their player profile, allowing them to view bet history, statistics, balances, etc.
This also removes an important barrier: the sharing of personal and sensitive information. As many players who hold crypto in private wallets do so to protect their identity, asking for personal information may compromise their privacy.
In our new Web3-based platform, players can bet with Moonbet knowing that their personal data will never be required or requested.
Opening up a new world of online betting
Converting the betting platform to Web3 opens up endless possibilities for new players to join Moonbet, in a number of ways.
Crypto bettors want Web3 connectivity
Based on our research and focus groups with crypto bettors, the most important concept to them is anonymity. Players believe the true sense of cryptocurrency is freedom to send, receive, and play with their coins without any third-party roadblocks.
By moving Moonbet to Web3, we know that established and new crypto bettors will choose us over the competition, whose first question for all signups is “Name and Date of Birth, please”.
Less regulation = more markets
Just as comparing DEX’s to CEX’s, the Web3 connection literally opens Moonbet up to new markets around the world.
Why? Because we do not know nor care who is coming to enter our ecosystem. The same was that Uniswap and Pancakeswap revolutionized crypto trading by allowing anybody to connect and buy/sell, we are doing the same.
Regulators may not like it. Governments may not like it. But the cryptocurrency holders and the blockchain enthusiasts around the world understand that it is the only way for crypto to function.
The Moonbet Web3 Sportsbook
The first thing that you will notice is the MetaMask / WalletConnect icons in the top right corner. This will allow any player to instantly connect with Moonbet, make their deposits, withdraw crypto, and more.
But, there are many more exciting upgrades that will be offered in our new Sportsbook:
More Sports to Bet On: The new Moonbet Sportsbook will include sports not currently offered such as Golf, Formula 1, NASCAR, Futsal, Waterpolo, Winter Sports, and more.
More Sports Betting Markets: We will now proudly offer markets including player props, futures (antepost) bets, politics bets, TV show betting, and a wide range of exciting new markets.
Cash Out Feature: The cash out feature means that players have the option to cash out a bet for profit without waiting for it to win (or, cash out a losing bet to save some of their funds), allowing for a more dynamic betting experience.
Bet Code Input: Great for connecting with betting influencers, players can simply input a code into their betting slip, which automatically populates the bets that have been recommended to them.
Moonbet Web3 Casino
The updated Moonbet Casino will feature 1000s of casino games from top providers in the online betting industry.
Ranging from slots to table games to lottery, we are extremely excited to be offering our players the best possible selection that a Web3 betting platform can.
Players will be able to deposit into our casino using a number of top cryptocurrencies, which will then be converted into USDT for them to use to play inside the games.
Once they want to withdraw, the USDT will be converted back into the crypto and send directly to their connected wallet.
Moonbet Web3 Live Casino
One of the most requested features from players were live dealer games. Now, we are bringing them to Moonbet!
Players will have their choice between 100s of live casino games including innovative offerings such as Lightning Blackjack, Double Down Roulette, Caribbean Stud Poker, and many more.
All connected directly to the most renowned live betting providers from around the world, giving a feel that you are in the casino no matter where you are!
eSports at Moonbet Web3
What is better than watching a live eSports match and being able to bet on it at the same time? According to eSports bettors, nothing!
That is why Moonbet’s Web3 eSports platform will have integrated Twitch streams from the world’s most prestigious tournaments, so players can get right into the action.
From League of Legends to Valorant to FIFA, it has never been more excited to bet on eSports with crypto than with our dynamic new platform.
Virtual Games running 24/7
Sometimes, there just aren’t any sports for bettors to wager on. Well, now Moonbet will have players ready to bet even during the slowest sporting periods!
Our Virtual Games will run 24/7 to ensure that players craving some action can always have something to bet on.
Featuring virtual horse races, greyhound races, soccer matches, and more, all of which are displayed on-screen for viewing pleasure, Moonbettors will never go bored when visiting our platform.
Web3 Progressive Web App for mobile crypto betting
We know that not only is Web3 the future, but so is mobile betting.
That is why we will be releasing a Moonbet Web3 progressive web app that allows players to connect with wallets and bet with crypto natively from their phone.
This game-changing app will be available for all Android users, making it easier and faster than ever to bet from a smartphone or tablet.
Now, Moonbet will go with you at all times and is just a click away!
Moonbet Web3 Launches in July 2022
We will be launching Moonbet Web3 at the start of July 2022.
We have strategically chosen June for the migration to Web3 because luckily, this year the World Cup in Qatar will be played in November. This means that June represents a month with no major sporting events, aside from the final games of the NBA and NHL playoffs.
By making the switch now, we will be setting ourselves up to be in full swing for the start of European football (soccer) and NFL season towards the end of summer.
All existing players will be notified of the transition and given time to withdraw their funds. The integration will run as seamless as possible, while also giving our team time to strategize for new marketing initiatives to push our Web3 functionality.
As always, we appreciate the support of the Moonbet community and cannot wait to take this next step towards decentralized, community-owned betting!