In the world of sports betting, instant payments and reliable custody are key to the user experience. HotStreak, a web3 platform for daily fantasy sports (DFS) contests, is wagering that the decentralized nature of the blockchain makes it an ideal solution for DFS platforms.
The sports betting market in the US has grown rapidly as states begin loosening regulations around the industry. It doubled in size in 2021 with over $52.7 billion total wagered over the year, according to Morning Consult.
There are two major issues with large sports betting platforms like FanDuel today, HotStreak CEO Greg Dean told TechCrunch in an interview.