BetOpenly, a sports betting marketplace, has partnered with Web3 rewards company Scrimmage to provide low-cost betting and cashback on every bet it receives. BetOpenly users will now be able to earn ‘SCRIM’ tokens for bets placed in the marketplace, through this partnership.
Scrimmage Co-Founder Matt Dever commented: “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 can earn cashback through SCRIM on every bet."
BetOpenly pairs bettors with other bettors which is a contrast to the usual sportsbook model in which the sportsbook takes the opposing side to the bettor’s wager. Another drastic difference is in its fee structure. BetOpenly charges a 1% fee for facilitating a bet, while most sportsbooks charge anywhere between 5% and 15%.
The sports betting company estimated it has already saved its users over $3m using this model.
BetOpenly Founder Gino Donati commented: “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 percentage of profitable gamblers. As well as adding layers to the Web3 world, allowing SCRIM (Tokens and NFTs) to be leveraged in our marketplace."
Scrimmage specializes in cost savings and is a Web3 rewards program tailored for sports bettors, rewarding users SCRIM tokens for betting at sportsbooks. SCRIM is a cryptocurrency that is backed by the US revenue that Scrimmage receives from its sportsbook partnerships.
