Andre Reed is an NFL Hall of Fame wide receiver who played his career with the Buffalo Bills and is known for his intense work ethic and reliability.
Marshawn Lynch is a recently retired running back who played for the Seattle Seahawks, Las Vegas Raiders, and Buffalo Bills, and often struck fear into the hearts of opposing defenders when he went “beast mode,” delivering stiff arms and forearm shivers on his way to the endzone.
Because these two former pro football players are so widely known among those who frequent NFL betting sites, an upstart blockchain-based sportsbook promotion has signed the two of them on as investors to legitimize their efforts and to reach a fanbase of pro sports gamblers that are looking for reliable online sportsbooks.
Blok Sports intends to bring Decentralized Finance Betting (DFB) into the mainstream by allowing patrons to wager on pro and college sports through a blockchain-based exchange.
They have not detailed which US states they intend to set up shop in, but they have indicated that they wish to spread into territories that already feature legal domestic sportsbooks.
Because these blockchain sportsbooks do not involve a traditional house entity, there is no vigorish or juice that will be extracted from online bets on sports.
“I can’t tell you how honored and excited we are to have these two luminaries join our team… It was important to me that we involve talent that models the highest degree of integrity and core values to be representatives of our Company.”
Mitchell Chun – CEO and Founder of Blok Sports
Details are sketchy as of this writing, but it seems as if the sportsbook will act as an intermediary that will serve as an exchange for sports wagers.
Patrons can place bets against each other, but there appears to be the option to place wagers in a pool via a “marketplace.”
“At the end of the day, fans are there with you for the highs and lows, but most of all, they come for the experience and BLOK SPORTS is a platform that’ll get ya there.”
Marshawn Lynch, Blok Sports Board Advisor
Blok Sports also promotes fast and fair monetary transactions that are transparent, but there is no mention of making a sportsbook deposit with Bitcoin or any other cryptocurrency.
Crypto and BTC are already the most popular banking option at the best online sportsbooks due to the security that the blockchain provides and the fast transaction times, so it can be reasonably expected that Blok Sports would accept them.
Blok Sports plans to incorporate these same technologies into their sportsbook operations, and while it may be difficult to envision how it can run profitably without juice attached to each wager, the real benefactors will be the online bettors.
“I loved the idea of a platform that levels the playing field of sports betting so folks can bet directly… I can’t wait to see where they take this.”
Andre Reed, Blok Sports Board Advisor
Blok Sports’ predictive gaming platform promises to deliver accurate predictions that are AI-based and rely less on odds created by a human element.
They are also tapping into the NFT market by offering Non-Fungible Tokens as bonus promotional offers based on each bettor’s activity level.
This new blockchain-based, peer-to-peer sportsbook will be worth tracking in the coming months to see if they can gain a foothold in the US betting market.
Source: Blok Sports Official Website