BlockBet.xyz is an experimental on-chain betting platform on the Russia World Cup.
It allows you to compete with other players on the outcome of a game.
It is as of now available on Rinkeby and Ropsten.
Check it out on
https://BlockBet.xyz !
What It The Bet Format?
In 3-Way bets (also known as 1X2 bets), there are 3 possible outcomes: Win, Draw, or Loss. For example, on the game Spain - Russia, it will be: Spain to win (1) / Draw (0) / Russia to win (2).
How To Bet?
To have a smooth user-experience, you need to use MetaMask. To bet on a game, MetaMask will call the Bet(winner) function of the smart-contract. If you would like to bet without MetaMask, you can send funds to the Bet(winner) function where "winner" parameter is 1 for the "Home" team, 0 for Draw, 2 for the "Away" team. The minimum amount is 1 Finney (0.001 Ether) and a 1% fee is taken on each bet.
How Are Calculated The Odds?
Here, you are not betting against a bookmaker, but simply betting against other participants. The odds that the team A wins is the total amount betted on all teams divided by the total amount better on the Team A. So the odds will evolve until the start of the game.
How To Collect My Earning?
Once the winner is defined, if you use MetaMask, you can claim your gains using the "Claim" button under the Bet History section. If you are not using MetaMask, you can call the collectEarning() from the address you placed the bet.
