The main thing that I like to see Betting on blockchain Solve is to provide better odds in a way where you can bet straight from your own wallet. This is exactly what thefuntoken aims to do with their xfun.bet bookie. I have been highly anticipating it for a long time and plan to use it for a lot of my crypto betting going forward.
First Impression
The bookie website itself is very clean as expected with many events, many betting markets on each events generally with different odds available and good liquidity. Getting yourself ready in order to be able to bet however requires some dedication and knowledge which is way too much of a hassle for the average bettor right now to the point that it's quite ridiculous.
How to bet on XFun.Bet (Step-By-Step Guide
This is my personal experience which went smoothly allowing myself to take my first bet.
1. Get FUN Tokens
So betting on the platform is done exclusively with FUN tokens which is a coin that is listed on Binance and Uniswap along with other places with good overall liquidity. I used to be invested in BETR which gave a nice airdrop tokenswap for FUN which at the time I took a good chunk of profit on leaving the remainder 100k FUN on Binance to generate passive returns in their Earn which increased my stack to over 140k FUN.
2. Download XFUN Wallet on Mobile
FUN tokens live on the Ethereum Blockchain which is not suited for betting due to the gas fees but they can be swapped for XFUN tokens on their own XFUN Wallet. This however only seems to be available on mobile (see https://xfun.io/). So you will have to download that and generate a new address.
3. Withdraw FUN to your XFUN Wallet
FUN tokens on the Ethereum Wallet can be sent to your address in the XFUN wallet that you downloaded.
4. Deposit ETH in your XFUN Wallet for Gas Fees
Since you will have to swap FUN tokens on the Ethereum Network to XFUN tokens, you will need some ETH to pay Gas fees on your XFUN Wallet.
5. Swap FUN for XFUN
Once you have your FUN tokens and your ETH on your XFUN Wallet, you can easily Swap FUN for XFUN
5. Log Into XFun.Bet with Your XFUN Wallet
Just click the wallet icon on the top right of the xfun.bet site which brings you to a page where you see a QR code. Scan this with the camera of your phone inside the XFUN Wallet, confirm to login transaction and you are good to go and you will see your XFUN balance to bet with on the site.
6. Place the bets you want on xfun.bet
From here on out, it's as simple as using a regular bookie browsing the site finding the bet you want to take and confirming the transaction on your phone. You will see the odds and the maximum limits of XFUN that can be bet on it with one click.
Once you confirmed your bet it will show in the My Bets tab
That's it!
While the entire process is not that complicated if your are used to working with crypton, I just don't understand why they don't go with having an XFUN liquidity pool on Polygon allowing players to login with their metamask wallet to bet that way. This forced having to download their wallet and manually swap FUN for XFUN needing a mobile phone in order to place bets in my view will keep 95%+ of the potential users away from the platform.
XFun.Bet for Layers
The bookie is actually a Peer2Peer marketplace/exchange for bets and there is a separate website (lay.xfun.bet) for players or betting companies that want to offer laying bets on the platform. I assume some bookies have this process automated which makes it so that plenty of bets with solid odds that often are better than what asians are offering are available. In order to be a layer you need to have at least 1 Million XFUN Staked and the payouts for the bets are put inside escrow so players are sure to be paid out.
My First Bet
One of the best things about XFun.Bet is that you will actually find many bets with really competitive odds. The first bet that I took is for the world Cup match between Belgium and Canada taking Both Teams To Score @ 2.211 odds for 6000 XFUN. Just to compare this with Sportmarket Pro which is my regular Betting Broker that offers odds from different asian bookmakers and has at best 1.797 odds
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Odds Comparison Belgium vs Canada Both To Score
| - | Yes | No |
|---|---|---|
| XFun.bet | 2.211 | 1.920 |
| Sportmarket Pro | 1.979 | 1.950 |
| Betfury.io | 1.880 | 1.860 |
| Sportbet.one | 1.870 | 1.850 |
Conclusion
XFun.bet is one of the most promising platforms when it comes down to Betting using Blockchain Technology mostly because they have some excellent odds and plenty of betting options available. They however need to make the entire process before your are able to actually take some bets way easier allowing Metamask users to log in and bet. I will contact the devs and ask about it. Expect me to use the platform a lot more during the World Cup.
Crypto & Blockchain-Based Bookies and Exchanges that I'm personally using as they allow anonymous betting with no KYC or personal restrictions...
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