What is Peer to Peer Betting?
Posted: November 5, 2019
Updated: January 3, 2020
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Peer to peer betting lets you wager between individuals
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an app and cut out the cost of a traditional bookmaker
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Saves both time and money whilst allowing greater freedom
So what is peer to peer betting? In the age of social media, it’s only natural that a form of “social betting” would appear. This is better known as”peer to peer betting”. You can bet on virtually anything and with anyone. Just an app and you’re good to go.
Intro: What is Peer to Peer betting?
Peer to peer betting is also known as “P2P betting” or “social betting”, it’s a form of gambling that allows players or punters to bet against each other directly. They can choose their own . Essentially it cuts out the role of the traditional bookmaker like 22bet. an app and you’re good to go.
Thanks Internet!
In the age of the world wide web and ever evolving technology, it’s not surprising to see a number of new start ups which are beginning to shake up the traditional betting industry. Does anyone Napstar and how it allowed the ing of movies directly from other people’s computers? Well, that’s straight forwards peer to peer sharing. The traditional cinema movie houses are still suffering from loss of revenue. In a way it was similar to an old fashioned in Japan.
What is Peer To Peer Betting?: Eliminate the Middle Man
Just over 1 year ago, Zen Sports launched it’s own peer to peer betting platform. Because it’s web based, it operated outside of the usual jurisdictions of the US, Europe and Canada. Odds tend to be better as there are no bookies setting them. (Book makers stack the odds as part of “online sportsbooks in the UK that can offer P2P services will profit from eliminating many of the hassles that come from g up, credit card decline etc, as well as all the costs associated with running a huge back end. They will also allow the acceptance of various crypto-currencies, along with using Blockchain technologies.
Generation Z Loves P2P
Generation Z describes a demographic of people born between the mid 90‘s to mid 2000‘s. They will comprise of 40% of all consumers by 2020. On the one hand they are technologically competent. And on the other, thanks to social media, they are moving away from large traditional companies and corporations in favor of “real people”. Essentially, they already trust P2P as a means of making payments. Take a look at Paypal and Venmo for example.
You Can Bet on Anything
Yes, 22bet. Want to wager on the outcome of a TV show or if it’ll rain in the next hour? Open the app and place your bet. In fact the platform act an an escrow, keeping the wager safe and then deducting a small % fee on payout. And all done with your phone without having to get up from the sofa.
