Stoked.bet Brings a $30 Million Sportsbook Business Onchain With a New Web3 Betting Ecosystem

Web3 sports betting startups often begin with an idea. Stoked.bet is starting with something different: an existing business.

The company has launched a new blockchain-powered betting platform built on the team behind Steam22, a private sportsbook that says it has processed more than $30 million in betting volume while building a community of over 2,500 members.

Now, that experience is moving onchain.

Rather than simply recreating a traditional sportsbook using crypto, Stoked.bet is combining non-custodial betting infrastructure with a broader SocialFi ecosystem designed around rewards, digital ownership and community participation.

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Betting Without Giving Up Custody

One of the platform's main differentiators is its focus on user control. Stoked.bet is being built around non-custodial infrastructure, allowing users to maintain ownership of their assets while benefiting from transparent, onchain settlement.

The platform also plans to verify outcomes onchain, giving bettors greater visibility into how wagers are settled compared with traditional sportsbooks.

For crypto-native users, that transparency addresses one of the industry's longstanding criticisms: trusting centralized operators to process payouts fairly.

Its broader ecosystem includes a Marketplace, Heat rewards, and the $STK token, giving users multiple ways to participate beyond placing bets.

The Marketplace is expected to play an especially important role in regions where regulated sports betting remains unavailable, providing an alternative entry point into the ecosystem without focusing exclusively on wagering.

The company says future updates will expand Marketplace activity, reward mechanisms and additional community features as the platform evolves.

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Building on a Proven Foundation

Unlike many Web3 betting platforms launching without an operating history, Stoked.bet enters the market with a proven business behind it. That allows the team to focus less on validating the sportsbook model and more on improving transparency, user ownership and the overall betting experience through blockchain technology.

Its next phase of growth will center on expanding the Marketplace, growing the $STK ecosystem and introducing new features as the platform continues to evolve.

Curious what onchain sports betting looks like? Stoked.bet is now live, giving users the opportunity to explore its Marketplace, rewards ecosystem and non-custodial betting experience firsthand. Whether you're a sports bettor, prediction market enthusiast or simply interested in how Web3 is reshaping online wagering, it's worth taking a look at what the team is building.