Exodus wallet integrates with SportX to enable esports betting with crypto

Cryptocurrency Wallet Exodus has officially integrated with SportX, an online sports and crypto betting platform, giving users the abilit...



Cryptocurrency Wallet Exodus has officially integrated with SportX, an online sports and crypto betting platform, giving users the ability to bet on esports games through smart contracts executed on the Polygon network.

The partnership, which was announced on Tuesday, gives more than one million Exodus users access to SportX’s decentralized betting exchange, where they can place bets on a wide range of sports games and esports using cryptocurrency. The minimum wagering amount is $ 5, denominated in USD Coin (USDC), which can be sent directly to the Exodus wallet or exchanged from any of the 138 cryptocurrencies it supports. All markets created, traded and settled on SportX are facilitated by the Polygon network.

Currently, SportX is licensed for use in Canada, South America, most European countries except France and the Netherlands, and most of Asia.

Esport, which refers to multiplayer video games played competitively in front of spectators, has grown up become a billion dollar industry, with mainstream developers such as Halo enter the market.

Although the relationship between cryptocurrency and esports is still nascent, industry watchers have identified a “Special connection” between the two domains. The two communities share similar demographics and use technologies that transcend geographic locations. The the financialization of gambling, also known as GameFi, is also expected to present new opportunities for the esports industry. (However, GameFi is not limited to the financialization of esports, but to digital gaming more generally.)

Related: Coinbase partners with esports games organization participating in League of Legends

Crypto exchanges, meanwhile, continue to expand their footprint in the esports market, with the FTX led by Sam Bankman-Fried leading the way. In August, the derivatives market marked a seven-year contract with Dolphin Entertainment to create non-fungible tokens that target brands in multiple industries, including esports. In June, FTX Closes $ 210 Million Naming Rights Agreement with esports giant TSM.