Cryptocurrency wallet Exodus has officially integrated with SportX, an online sports and crypto betting platform, giving users the ability to wager on esports games through smart contracts executed on the Polygon network.

The partnership, which was announced Tuesday, gives Exodus' more than 1 million users access to SportX's decentralized betting exchange where they can place bets on a broad range of sports and esports games using cryptocurrency. The minimum bet amount is $5, denominated in USD Money (USDC), which tin be sent directly to the Exodus wallet or exchanged from any of the 138 cryptocurrencies information technology supports. All markets created, traded and settled on SportX are facilitated by the Polygon network.

Currently, SportX is authorized for use in Canada, Due south America, most European countries excluding French republic and the Netherlands and throughout most of Asia.

Esports, which refers to multiplayer video games played competitively in forepart of spectators, has grown to become a billion-dollar industry, with mainstream developers such as Halo entering the market.

Although the relationship between cryptocurrency and esports is withal nascent, industry observers accept identified a "special connection" between the ii domains. Both communities share similar demographics and employ technologies that transcend geographic locations. The financialization of gaming, also known every bit GameFi, is besides expected to present new opportunities for the esports industry. (Still, GameFi is not limited to the financialization of esports, only digital gaming more by and large.)

Related: Coinbase partners with esports gaming organization competing in League of Legends

Crypto exchanges, meanwhile, continue to aggrandize their footprint in the esports marketplace, with the Sam Bankman-Fried-led FTX leading the style. In August, the derivatives exchange inked a 7-twelvemonth deal with Dolphin Entertainment to create nonfungible tokens that target brands in several sectors, including esports. In June, FTX sealed a $210 million naming rights deal with esports giant TSM.