bookmaker.XYZ Review

Within the last seven years, blockchain technology has aggressively penetrated a wide spectrum of industries. From fintech to sports to medicine, there has been a massive adoption of blockchain – especially for the decentralization and anonymity this technology presents.

But there has been one industry yet to fully tap into the blockchain revolution. This is the sports betting industry. 

Well, Bookmaker.XYZ is changing the narrative, sealing its place as a pioneer by being the first decentralized bookmaker to emerge in the sports betting industry.

Launched in 2022, Bookmaker.XYZ is taking crypto betting to the next level, opening previously uncharted territories to tech-savvy punters.

But how safe is this bookmaker? How does its revolutionary betting system work? What bets can you place on Bookmaker.XYZ?

These are some of the vital aspects we cover in this insightful bookmaker.XYZ review.

Traditionally, the credibility of a bookmaker is measured by the authority of its regulator. But then Bookmaker.XYZ disrupts the paradigm by having no conventional regulator.

Is this disturbing?

No, it is rather exciting. If you have been acquainted with blockchain long enough, you would know this disruptive technology seeks to eliminate regulation. 

And that is the heart of the decentralized betting we see at Bookmaker.XYZ. 

Everything is exclusively conducted on the blockchain, eliminating credibility concerns that may arise with regular fiat bookmakers.

The name Bookmaker.XYZ is quite an anomaly because Bookmaker.XYZ is not a typical bookmaker. 

As you would know, when you place a bet with traditional bookmakers like Bet365 or William Hill, you are essentially betting against the sportsbook or the house. 

This means the designated bookmaker holds your money (in the form of deposits) and retains the authority to pay you or not – or when and which amounts to pay you. 

It is not so on Bookmaker.XYZ. No one is lord over your bets. 

You don’t make deposits here, and when you place your bet (which already has outcomes set beforehand), your money is safely locked in smart contracts.

With zero interference from bookmaker.XYZ, you can redeem your winnings from the contracts if your bet was successful.

This gives you superior power, unlike with orthodox bookmakers, where the bulk of the power lies with the sportsbook.

You can access the site by visiting https://bookmaker.xyz. We loved how clean and intuitive the website is.

It has a rich dark background with the available markets standing out clearly in white fonts. At the top of the website is a sliding carousel, with the “Connect Wallet” at the extreme top right.

To the left are tabs like Events and Docs. The latter leads to an extensive collection of helpful resources so you can better grasp how this bookmaker works.

The website loads quickly – both on the desktop and mobile interface. On our mobile browser, we loved the screen resolution and how easy the website theme was on the eyes.

Here is another aspect where this bookmaker rebelliously (but brilliantly) broke away from the trend. Your everyday bookmaker requires you to open an account as a new customer and labor through extensive verification exercises.

It is way more seamless on Bookmaker.XYZ.

First, you don’t need to register to place your bet. Being a ground-breaking decentralized betting platform, all you need to do is link a Web3-compatible digital wallet, and voila, you are ready to bet!

That said, Bookmaker.XYZ favors you connecting MetaMask. For those who don’t know, MetaMask is the leading cryptocurrency wallet for anything NFT, Web3 Dapps, and Defi. 

It is favored for the ease it brings to interacting with the Ethereum blockchain.

While available as a website extension, you can readily download MetaMask from here. 

When downloading MetaMask, ensure you rigorously secure your seed phrase. In unfortunate events of you losing your seed phrase, you can no longer recover your funds.

Now, after procuring your MetaMask, you can click the “Connect Wallet” on the top right of the Bookmaker.XYZ website. Next, you must accept the Terms and Conditions, the associated Bet rules, and Privacy Policy. 

Simply signing the transaction confirms your agreement. Now you can start betting!

Bookmaker.XYZ doesn’t boast many markets. At the time of writing, football and esports were the two major offerings to bet on.

The development team informed us that they were working hard on rolling out more sports.

Dota 2 and CS:GO were the two major markets in the eSports category. Bookmaker.XYZ is more expansive in its football market, covering as far as Brazil’s Brasileiro Serie A, Peru’s Primera Division, and the Argentina Superliga.

There are many types of submarkets to bet on. The most popular options we saw with this bookmaker include full-time score, total goals (over/under), double chance, match winner (more particular to esports), and Both Teams to Score (BTTS).

These options are quite easy to understand.

In football, the full-time result involves the punter predicting the score when the time hits 90 minutes, indicating the end of regular play.

In the Total goals (over/under) submarket, you stake on the goals to be scored in that football encounter by 90 minutes. 

Let us assume you went with over 3.5 goals. This means you anticipate the total goals scored by both teams by 90 minutes to be at least four.  

The double chance is more like you hedging your bet by staking on two possibilities in one event. Take a match between Manchester United and Chelsea.

A double chance bet on Bookmaker.XYZ could look like Manchester United win or draw. So by the end of 90 minutes, if Manchester United wins, your bet is successful. 

Alternatively, if Manchester United draws, say the game ends 2-2, you still win.

The Match winner market is peculiar to esports. This is you predicting the side to emerge victorious by the end of the fixture.

This is an important question, betting on Bookmaker.XYZ is a bit different from what you have known from other bookmakers.

Specifically, you need to understand the representation of bets on the chain. On Bookmaker.XYZ, you bet on the outcome of football matches or esports fixtures through frontends.

This is how it works. 

When your bets win, the liquidity pool gives you money. This is essentially the initial amount you staked multiplied by the odds.

What if you lose? Well, the lost bets get transferred into the liquidity pool to be deployed for consequent payments.

On the protocol, oracles are behind the provision of initial odds and event creation. It is now up to liquidity providers to send money into liquidity pools. These providers get a piecemeal compensation for the transactions they enhance.

So when you place a bet on Bookmaker.XYZ, you are essentially calling an AzuroLP contract. This executes the transfer of tokens to the designated liquidity pool from your crypto wallet.

To document your bet, you would get an NFT with real commercial value.

When the oracle sends payment data, you can redeem your wins (if the bet was successful). In this instance, your win is your initial stake multiplied by odds. 

One significant advantage of betting on Bookmaker.XYZ is the absence of third-party interference. Vetted oracles independently monitor the process, transparently documenting the whole transaction on the chain.

We admit a bit of crypto savviness is needed to quickly get your way around how bets on Bookmaker.XYZ work.

Placing a bet is easy on Bookmaker.XYZ. As earlier said, you need to connect your Web3-compatible wallet to Bookmaker.XYZ to place a bet.

The preferred wallet is MetaMask. So if your MetaMask has the xDAI threshold (we will talk more about this shortly), you can stake a bet.

Select the event you desire to bet on. You can, more rapidly, input the event in the search box in the Event section of the website. 

Several markets are displayed to the right of the event. After picking your anticipated outcome, you can declare your stake amount in your bet slip.

The transaction is executed in MetaMask once you confirm the transaction. After receiving the on-chain confirmation notice, you can monitor how your bet is turning out on the Gnosis chain.

It is easy to locate your ongoing bets. This is accessible on the My Bet tab visibly displayed in your profile menu.

You can tell the status of your bet from the bet state. If it shows pending, the bet was successfully placed, but the outcome is yet unavailable. This means you can’t know whether you have won or lost yet.

The bet state “Declined” means the bet was not successfully placed. This is typical when a technical glitch occurs when placing it. 

Consequently, your stake amount will be returned to you which is redeemable on the “My bets” compartment.

Lose means the bet was unsuccessful as the outcome went against your prediction. A win bet state means the outcome of the event is aligned with your prediction.

Unlike your everyday bookmaker, you can’t directly bet with fiat on Bookmaker.XYZ. This means the likes of USD, euro, and pounds can’t be used.

You can only bet with cryptocurrency on this bookmaker, with xDAI the only cryptocurrency allowed on at the moment.

The development team informed us they would be rolling out more cryptocurrencies on the platform subsequently.

On the Gnosis chain (which Bookmaker.XYZ runs on),xDAI is the native token. It is massively deployed for ethereum transactions.

We found xDAI to be cool. Being a stable coin, pegged 1:1 to the US dollar, you are protected from the characteristic volatility of altcoins. This means 1 xDAI is predominantly 1 USD.

There are two major outlets you can procure xDAI from. You can buy xDAI with fiat currency from decentralized exchange (DEX) platforms like Ramp, Mt Pelerin, or AscendEx.

Alternatively, if you have other tokens on other networks, you can exchange them for xDAI. You can execute this token swap with platforms like Uniswap, Quickswap, or Cowswap.

While there is no maximum threshold on the amount you can win in a single bet, the least you can bet on Bookmaker.XYZ is 1xDAI.

On Bookmaker.XYZ, you don’t necessarily withdraw. Instead, you redeem your wins. This is how it works.

When the event ends, you can head over to the My Bets section. The bet – if successful – should appear under the Unredeemed bets” tab.

Click “Redeem” on the consequent belt tile to initiate the transfer of the funds you won. When you click it, MetaMask launches with a prompt to confirm funds transfer.

The funds will be transferred to your wallet upon the transaction being confirmed on the chain. After this, the belt attached to the bet changes to “Redeemed”.

From there, you can withdraw your crypto funds as you desire.

The odds on Bookmaker.XYZ are not spectacular. But then this is not too out of place as this bookmaker only recently launched.

Independent oracles provide the odds on Bookmaker.XYZ. These are exactly the odds on Azuro protocol, the protocol this bookmaker leverages. 

Notably, the odds on Bookmaker.XYZ respond to the betting activities of your fellow bettors as the event progresses.

At the time of writing, Bookmaker.XYZ doesn’t have a cash out facility. We saw this as a major letdown given how critical the cash out feature is for punters in minimizing their losses.

We, therefore, reached out to the development team at Bookmaker.XYZ and we were excited with the cashout facility they are building.

This cash out model is unique and different from what we see with traditional bookmakers. The latter essentially requires you to sell your bet back to the sportsbook at a fraction of your anticipated wins.

The way Bookmaker.XYZ plans its cashout feature entails you minting your bet as an NFT (non-fungible token).

No. Currently, this bookmaker doesn’t have a mobile app. But one is certainly in the development pipeline.

Being a recently launched bookmaker, we were unsurprised to see that Bookmaker.XYZ doesn’t have a live chat feature on its website or a telephone number for customer support.

However, you can reach the customer support department via email at hello@bookmaker.xyz.

This bookmaker also has an interactive presence on Twitter via their channel: https://twitter.com/bookmakerxyz

There is also a discord community where you can ask questions and get answers: https://discord.com/invite/JxuzdS3kXw

For more general queries, this bookmaker has extensive documentation on its website. This spans connecting your wallet, placing bets, redeeming bets, and other technical resources to adequately onboard you.