Toronto, Canada, 19th March 2024, ZEX PR WIRE, The SX Bet team is excited to announce it has taken a leap forward in its mission to revolutionize the sports betting industry by eliminating fees. The move to zero commission has SX Bet positioned to be the lowest vig sports betting platform and have the best odds in the world. In tandem with this groundbreaking change, SX Bet is also pioneering the industry as the first cross-chain gambling application, starting with an imminent launch on Arbitrum.
This dual advancement not only redefines the economics of sports betting but also expands SX Bet’s reach, welcoming a broader, crypto-native audience across multiple chains.
Elimination of Commission Fees
In a landmark move, SX Bet has reduced commission rates to zero, meaning both makers and takers pay 0% commission on all bets, including parlay bets.”While exploring different monetization routes, SX has taken the step to cut commission rates to zero for the time being,” Andrew Young, Project Lead at SX explains, highlighting the platform’s commitment to reducing vig in sports betting to zero while also drastically increasing fairness.
On top of paying no commission, SX rewards bettors weekly in its native governance token $SX for using the platform. This means the net commission paid on bets is actually negative; SX bettors are effectively being paid to bet.
SX Bet Launching on Arbitrum
The expansion onto Arbitrum on March 19th signifies SX Bet’s entry as the first cross-chain betting application, a strategic move designed to capture the vast, untapped crypto-native audience across multiple chains.
The Arbitrum launch is accompanied by a series of exciting incentives and promotions, including an Airdrop and a $69,420 betting tournament, all aimed at celebrating the milestone and encouraging widespread participation.
About SX
SX Network blockchain combines smart contracts with an on-chain treasury and prediction market protocol. It offers low-cost transactions, and a PoS-based consensus, making it ideal for developers with EVM compatibility. SX Network’s flagship platform, SX Bet, is the largest blockchain betting platform in the world, having processed over $437,000,000 in betting volume. The platform is non-custodial, all bets are peer-to-peer and settled transparently on-chain. SX Bet is not available in the United States or other prohibited jurisdictions.
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