🎯Betting

Bet on your favourite teams and earn money. You no longer have to go through lengthy registration and account verification procedures to place a bet. Web3 allows you to connect to the platform using your metamask and place your bets quickly. All you have to do is select an event and click on one of the outcomes.

How are the bets calculated?

Bets are accepted on a separate smart contract. Inside the smart contract there are 3 pools, which correspond to three outcomes - Team 1 win, draw, Team 2 win. When you place a bet on one of the outcomes, your tokens go into the corresponding pool. When the match is over, one of the pools is declared the winner and all participants who bet on that outcome receive rewards.

Example:

Qatar plays Ecuador. There are 3 outcomes for this event in total:

Win 1 - Draw - Win 2

3 participants have bet on Team 1 to win, the total betting amount is 10000 tokens.

Participant 1 - 3000 $BETS

Participant 2 - 5000 $BETS

Participant 3 - 2000 $BETS

For a draw, the total betting amount was 7000 $BETS, and for Ecuador's victory 2000 $BETS tokens.

In case of Qatar winning, the participants, who had bet on that event, become the winners. Their total winnings will be 7000 tokens (draw) + 2000 tokens (win 2) - 10% pool rewards - 10% developing = 7200 tokens. These tokens are distributed amongst the winners depending on the size of their bet.

Member 1 will receive 30% - 2160 $BETS

Member 2 will receive 50% - 3600 $BETS

Member 3 will receive 20% - 1440 $BETS