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BetOpenly, a sports betting marketplace, has partnered with Scrimmage, a web3 rewards firm, to offer low-cost betting and pay back on every wager. BetOpenly customers will now be able to earn SCRIM tokens for their bets, which can then be exchanged into fiat cash using the Scrimmage Rewards app.
BetOpenly is a marketplace that connects bettors, as opposed to the sportsbook model, in which the sportsbook takes the opposing side of the bet as the bettor. The most significant distinction, though, is in their fee arrangements. BetOpenly costs only 1% to facilitate a bet, whereas sportsbooks may charge anything from 5% to 15%. BetOpenly has already saved their customers more than $3 million.
Scrimmage also specializes in cost-cutting measures. Scrimmage is a web3 rewards program for sports bettors that gives SCRIM tokens in exchange for wagering at sportsbooks. SCRIM is a cryptocurrency backed by the USD revenue generated by Scrimmage’s sportsbook agreements. Consider SCRIM to be similar to frequent flier miles, except instead of being obligated to use them on the same airline that earned them, you may sell them for cash.
Matt Dever, Co-Founder of Scrimmage, said:
“This partnership is an exciting one because Scrimmage users can now earn SCRIM for betting on an excellent platform with some of the lowest commissions in the world, while BetOpenly’s users have the ability to earn cash back through SCRIM on every bet.”
Gino Donati, BetOpenly Founder, added:
“Scrimmage is rewarding users, no strings attached, and taking the already exciting and entertaining world of sports betting to the next level! This partnership will be an ongoing collaboration to find unique and creative ways for everyone to leverage their rewards! Our main goal is to increase the % of profitable gamblers. As well as add layers to the Web3 world, allowing Scrim (Token and NFTs) to be leveraged in our Marketplace.”