The Pipeline Knowledge Graph

Introduction to RareBetSports

5 min read

From: thepipeline_xyz

RareBetSports (RBS) is a Daily Fantasy Sports (DFS) platform built on Monad, marking the first Monad Native episode of “The Pipeline” [00:00:06]. It aims to be an entire ecosystem, with its first product being RARLink [00:01:03]. RareBetSports has been developed in stealth mode to build momentum and hype [00:01:13, 00:01:45]. The core mission of RareBetSports is to onboard the next billion crypto users through sports and the RBS ecosystem [00:03:12, 00:14:44].

What is Daily Fantasy Sports (DFS)?

Unlike traditional sports betting, which focuses on game outcomes like money lines or over/unders on total scores, Daily Fantasy Sports centers on individual players and their statistics [00:02:00, 00:02:16]. Players test their skill by predicting whether a given player statistic will be higher or lower than a set line [00:02:20, 00:07:56]. This format has gained significant popularity in the US, with companies like PrizePicks exploring the DFS vertical [00:02:30, 00:02:38].

Key aspects of DFS:

  • Player-Centric Focus In DFS, the emphasis is on individual player performance (e.g., LeBron James, Patrick Mahomes) rather than the overall team’s victory [00:02:53]. This makes it more accessible for less savvy bettors [00:02:44].
  • Legal Differentiation DFS operates within a distinct legal carve-out in the US, differentiating it from traditional gambling or sports books [00:03:28, 00:03:30]. This allows RareBetSports to operate within this framework [00:03:37].
  • Proprietary Building RareBetSports distinguishes itself from many existing Web3 sportsbooks, which are often white-labeled and lack proprietary features [00:03:56, 00:03:58]. RBS is building a proprietary product designed with Web3 principles from the ground up [00:04:25, 00:04:27].

RARLink is the inaugural product within the RareBetSports ecosystem [00:07:50]. It functions as a “pick ‘em” style game where users select over/under predictions on player proposition bets [00:07:54, 00:07:56]. The goal is to allow users to significantly multiply their crypto holdings [00:08:01]. RARLink was conceptualized during a bear market to provide utility to various tokens, communities, and NFT communities that struggled to drive revenue from secondary sales [00:06:15, 00:06:23].

Advantages of Building on Blockchain

RareBetSports leverages blockchain technology to offer unique advantages:

  • Community Focus

    • Web2 platforms often lack a community-focused approach [00:05:53, 00:05:56]. RareBetSports is built with community as part of its DNA, allowing it to reward various communities on its platform [00:05:59, 00:06:08].
    • The platform aims to provide a fun touchpoint for communities to engage with their tokens [00:10:20, 00:10:36].

  • Monad Ecosystem

    • RareBetSports chose Monad due to its existing hungry user base and the community Monad has cultivated [00:10:11, 00:10:12].
    • Monad’s technical capabilities, including 10,000 transactions per second and sub-cent gas fees, enable a seamless consumer experience without burdening users with high fees or long settlement times [00:12:39, 00:12:47, 00:12:50, 00:12:54, 00:12:56].
    • Building on Monad has also been beneficial for fundraising, attracting exposure from investors interested in consumer-facing crypto applications [00:13:05, 00:13:12, 00:13:14].

  • Market Fit and Growth

    • Sports betting and fantasy sports have a proven market fit in Web2 and present an open playing field in Web3 [00:14:14, 00:27:02].
    • Sports provide year-round entertainment and opportunities for the project [00:14:25].
    • The gambling sector tends to be resistant to bear markets, providing stability [00:14:32, 00:14:36].

User Experience and Onboarding

RareBetSports prioritizes a smooth user experience, particularly for non-crypto natives:

  • Abstraction of Blockchain The platform aims to hide the underlying blockchain from the user, similar to how NBA Top Shot successfully abstracted Flow blockchain [00:19:38, 00:20:00]. The goal is for users to interact with RBS or RARLink without even knowing they are on a blockchain [00:21:54, 00:21:56].
  • Account Abstraction For Web2 users, RareBetSports plans to utilize account abstraction tools, allowing logins via Twitter or Facebook [00:19:13, 00:20:15, 00:20:16].
  • Seamless On-Ramping The app will provide tools for on-ramping and bridging, working with partners to make these processes easier than current crypto experiences [00:20:32, 00:20:33, 00:20:35].
  • Time to Fun A core focus is minimizing the “time to fun,” allowing users to quickly engage with the application after downloading [00:28:34, 00:28:44, 00:29:36].
  • Innovative UI The mobile user interface features a swiping approach (like Tinder) to allow users to close a wager with a single click, streamlining the betting process [00:25:28, 00:25:31, 00:30:13, 00:30:15]. This proprietary design allows for continuous evolution with crypto narratives [00:07:15, 00:07:17, 00:07:21].

Game and Sport Offerings

Initially, RareBetSports plans to support English Premier League, NFL, and NBA games upon rollout, adjusting with the sport cycles throughout the year [00:16:05, 00:16:10]. They are also actively exploring Esports, with data feeds already available for games like League of Legends and CS2 [00:16:15, 00:16:18, 00:16:21]. The team believes Esports betting is rapidly growing and has massive potential, especially with its recent inclusion as an official Olympic sport [00:16:31, 00:17:01, 00:17:09]. Furthermore, RareBetSports is looking into on-chain gaming and blockchain gaming as potential betting avenues, something Web2 companies cannot offer [00:15:32, 00:15:36].

Getting Involved

For interested members of the crypto and Monad community, RareBetSports recommends:

  • Early Access Beta Program The first users, Discord members, and Twitter followers will receive early access codes [00:22:53, 00:22:57, 00:23:00].
  • Social Channels Keep an eye out for early access codes from favorite influencers [00:23:05, 00:23:07]. Engage with RareBetSports on Discord and Twitter, even while building in stealth [00:23:12, 00:23:14, 00:23:17].
  • Website Visit rbet.sports for links and updates on the Early Access program [00:32:59, 00:33:04].

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