D3 Sports Tech (D3ST), a privately-held software development company, today announced the launch of their Wagering Wallet API for peer-to-peer sports and games. Developed specifically to meet the demand for legally settling wagers between competitors, the new Wagering Wallet allows businesses with peer-to-peer games to include a wallet for funding game play, settling wagers, spending and cashing out. Popular wallets like Venmo, PayPal, GooglePay and ApplePay do not allow the settlement of wagers or gambling on their platforms and they are shutting down users who violate their Terms of Services Policies at an alarming rate.
The US market for sports wagering has exploded since 2018 when the Supreme Court cleared the way for all 50 states to offer it leaving the individual States to manage their own laws as relates. In just 5 years, Americans have bet more than $550 billion at legal gambling outlets according to the American Gaming Association. And while most of the focus has been gambling on professional sporting events, the next area of massive growth for the industry will be in Social Wagering and Daily Reality Sports (betting on your own performance instead of betting on others). This familiar list includes the most popular individual sports in the world including golf, bowling, pickleball, sport fishing, darts or any sport where one person can play another, and have the outcome based on skills versus a game of chance.
D3ST first entered the market in 2019 with the launch of the D3 Golf App, the world’s first app to track and manage legal peer-to-peer wagering on the golf course. The market was and is full of apps that keep score and can determine winners and losers. But D3 succeeded where others stumbled by developing the ability for players to both manage games and settle wagers all within one system.
“We soon realized that our unique point of difference was our digital wallet for wagering. We had created something no one else had, and soon our vision expanded beyond golf to every other app.” Says Tom Naramore, Founder and CEO. “We started at the top with the Justice Department and moved through the legal system to basically create a new category for wagering. Working closely with our specialized legal firms, banking, payments processing companies, Google and Apple too, the D3 team soon achieved regulatory certifications required to operate in the US and abroad. Now with more than 3 years of operational experience and compliance, D3ST has built a licensable Platform as a Service (PaaS) for companies to integrate wagering into their games, adding new revenues at a fraction of the normal cost and time.
Naturally, our pipeline is stacked with golf companies’ on-course scoring apps, simulators, golf entertainment ranges that we first competed with and are now partnering with to help them take their businesses to the next level. Each company may have different goals and strategies for how to engage their user base, but the need for a wallet to make their games more exciting, and to excite new commerce within their own ecosystems is immense. Beyond golf, D3ST has now opened the door to all peer-to-peer sports and gaming.
For business inquires or press interview, please reach out to the team directly.