Our goal is to lower the vig for sports bettors by +90%
⭐ The -101/-101 Mission
Sports betting is a world full of “industry standards”. One industry standard that refuses to go away is the 4.8% vig that (almost) all sportsbooks charge. This represents the implied fee that all bettors pay when they use sportsbooks. While new crypto sportsbooks like Stake, Rollbit, and Sportsbet.io have been innovative in pioneering the acceptance of crypto for sports betting, they have done nothing to disrupt the industry standard vig.
We think it’s time for a revolution.
SX’s mission is simple: we aim to slash betting costs (i.e. the vig) by 90% from 4.8% to 0.5%. This represents a 10x improvement from the industry standard odds of -110/-110 (1.90/1.90) to industry-leading odds of -101/-101 (1.99/1.99). In simple terms, this means a $100 bet on a 50–50 outcome pays you $99 in profit — not $90 like it does currently — a 10% higher payout for bettors.
Our strategy to achieve this is to utilize the unique advantages offered by building our entire technology stack using web3 rails.
🔎 SX Overview
SX Bet is a peer-to-peer web3 betting exchange that allows all users to both offer and take bets. This is different from traditional sportsbook where users can only take bets offered by the company running the site. This peer-to-peer model of betting leads to better odds and remove the ability of owners to exploit the users for profit. SX Bet is built on it's own custom EVM-compatible blockchain, making it the first ever fully integrated betting app-chain.
SX has been live since March 2019 and has seen tremendous growth over the years:
SX is the both the largest and longest-running web3 betting platform, having launched in 2019