Background and Introduction

During this technological era, the scalability of blockchain networks has opened up a world of business possibilities and paved the way to endless use cases across all industries. The tokenization of asset classes eliminates intermediaries, transparency, decentralization, authenticity, and traceability. All of the blockchain technical features created a unique experience that offers users unlimited possibilities in how they interact with the internet. Additionally, technology like smart contracts allowed a significant advancement in developing Decentralized applications (Dapps) that operate with complete transparency and without the need to store users' data.
Sports betting is a significantly large sector with a market size of 194.63 billion U.S dollars in 2021, which has been steadily growing to 231.33 billion USD in 2022. The market is growing exponentially, attracting users around the globe.