Web3 Bets Ecosystem A decentralized, p2p betting ecosystem

Web3 Bets Ecosystem

A decentralized, p2p betting ecosystem...


Description

Web3 Bets Ecosystem is a decentralized, p2p betting platform, where players bet against each other instead of against a bookmaker or a betting exchange. It is built completely on blockchain technology, and powered by smart contracts.
Web3 Bets Ecosystem offers to bet players: anonymity, privacy, security, censorship resistance and trust, which are not obtainable in the traditional betting channels such as bookmakers or betting exchanges. There are two kinds of betting games in the ecosystem, pari bet games and fixed-odds games. In pari bet games, players bet on different possible outcomes. All bets on the same possible outcome are collected together to form a pool, the winning pool takes all values staked on the event. In fixed-odds games, players offer odds through lay betting for other players to wager against.


Technology

In traditional betting channels, players bet against the house (bookmakers and betting exchanges). But in the Web3 Bets Ecosystem, players bet against other players transparently on the blockchain. The implication is that the “bank can never be broken”, that is, there can never be a situation where a player wins and does not get his full reward.


BXB is the native utility token of the Web3 Bets Ecosystem that is used to:

  • Pay the vigorish deducted from winning bets in the ecosystem
  • earn airdrop rewards from the vigorish deducted from winning bets 
  • participate in some governance votes, such as development of new game products, addition of new game markets in existing products, creation of new roadmaps, adjustment of vigorish for winning games


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