Nitrogen reportedly steals 0.26 BTC from a user simply because they say he accessed the site from the US. They allowed him to bet for 4 months straight instead of closing the account right away and returning his funds.

Centralized sportsbooks are a serious risk for bettors, even if they use crypto only. Link below to the post.

https://twitter.com/d_feustel/status/1521178127036305415

Even "decentralized" solutions that are reliant on a base layer could be targeted. Most of their investment comes directly from groups involved in the base layer, or from people heavily invested in it. Massive incentive to sell out bettors if push comes to shove, as it is simply just another user-case to them. Their main priority is the base layer, bettors are hardly an afterthought for them.

In addition, these kinds of solutions are susceptible to issues on the base layer. BetDEX is the latest victim, being based on Solana they suffered a 7+ hour outage. The proudly touted 50,000 transactions per second of BetDEX looks a bit suspect and outages lasting hours or days can be devastating for sportsbooks and casinos, especially if it happens during a major event. Also as these networks grow and expand into larger and wider ranges of uses, fees can quickly rise to a point where it becomes an issue for smaller bettors who make up the vast majority of users. This has already happened with ETH, and occasionally a few others.

Solutions like GAMBL cannot come soon enough, as the status quo seems to get worse and worse as time passes. Bettors need to group together and demand better. We love to hear input from all kinds of bettors, as we build in the spirit of: By bettors, for bettors.