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BETTA contract address: 0x0B042fFa3c145202de362413582A1447e28e93B1

FREQUENTLY ASKED QUESTIONS

One thing BETTA is not is a betting site – we are not a bookmaker, we do not set odds, we do not promote events and we do not accept bets.

The BETTA website provides an interface which allows its users to interact with BETTA’s smart contracts on the Ethereum blockchain. In doing so, users are able to establish “events” against which they can stake ETH on the event outcome, and compete against other users on a pure peer-to-peer basis. Amounts staked are pooled, with winning players sharing the result pool which is comprised from the losing outcomes.

BETTA does not provide a custodial service for users’ funds. All amounts staked are sent directly from users’ wallets and held within our smart contracts until such time as a result is declared, after which eligible users may claim their winnings.

Yes, absolutely! There is no charge for interacting with BETTA’s smart contracts that is payable by any individual users. That being said, a small licence fee is payable to BETTA from event result pools when a result is declared, and prior to winnings being made available to eligible users – this licence fee is also shared with the event “Sponsor” and “First Challenger” (see below).

As with any transaction on the Ethereum blockchain, interactions with BETTA’s smart contracts will require the user to spend “gas”. We would always encourage our users to never spend more gas than they need to and we recommend that you make good use of ETH Gas Station to help you with this.

An event’s Sponsor and First Challenger could be anyone…including you!

The event Sponsor is the first user to place a bet on an event. In doing so, the Sponsor is actually creating the event within BETTA’s smart contracts (prior to this, it does not exist). To reward Sponsors for creating and promoting events, BETTA’s smart contracts automatically pay 1% of all ETH staked on an event to the event Sponsor when the event has concluded and the result has been declared, regardless of outcome.

An event’s First Challenger is the first user to “challenge” the Sponsor’s bet, that is do go against it by backing a different outcome to the Sponsor. Again, to reward First Challengers and to encourage further promotion of events, BETTA’s smart contracts automatically pay 0.5% of all ETH staked on an event to the First Challenger when the event has concluded and the result has been declared, regardless of outcome.

Through the use of a “multiplier”, BETTA has been able to create a unique, risk-enhanced P2P pooled staking model; whereby a player’s stake is enhanced depending on the point of time during an event that it is placed. This, in turn, determines a player’s potential returns, with those accepting greater “risk” benefiting from greater returns. Further, it is designed to keep a greater number of players engaged throughout an event.

Simply put, risk can be broken down into financial-based risk and time-based risk – a player staking ETH before an event begins is accepting significantly more risk than a player staking ETH shortly before an event is due to finish. This level of diminishing risk is reflected in the diminishing ETH multiplier hard-coded into BETTA’s smart contracts.

While our solution is similar to the concept of a bookmaker offering ever diminishing odds as an event is played out, it is entirely time-based and functions completely independently of event scorelines and the action on the pitch, generally. As such, potential returns are dictated entirely by the players and their stakes, and interesting arbitrage and hedging opportunities emerge throughout an event as natural “markets” come into being.

For now, event results are declared by BETTA, relying on publicly available information. In time, we intend to develop an “oracle” to feed this information into our smart contracts and permit event results to be automatically declared, negating the need for any manual intervention and allowing BETTA’s code to run entirely automatically and trustlessly.

Simply put, because there are no odds to display. BETTA does not assess the likelihood of event outcomes, and BETTA does not accept bets directly from users. BETTA’s smart contracts create a result pool for each possible outcome of an event – these pools grow and shift as more users participate in the event and, as such, potential returns for each user also move around. Our interface provides our users with a dynamic, real-time prediction of potential returns from stakes placed against each outcome of an event, based on the amount of ETH staked in opposition to each outcome and the proportion of the result pool that a user can expect to receive, based on the ETH they have staked.

You don’t! BETTA does not require or accept deposits, in fact we provide no custodial service of our users’ funds whatsoever. Your funds remain in your wallet until such time as you place a bet on an event outcome by sending the appropriate amount of ETH to BETTA’s smart contracts.

Once an event result is declared, any eligible user may claim their winnings from the smart contract.

If an event does not attract a First Challenger, any user that has staked ETH may withdraw 100% of the funds staked.

In the unlikely event that a result is declared for an event and there are no winners, “losing” users may withdraw 95% of the funds staked (licence fees and Sponsor/First Challenger fees having been paid automatically upon result declaration).

Funds that reside in BETTA’s smart contracts are not accessible to BETTA, except in the case of any winnings that have not been claimed within 30 days of an event ending – this is to prevent BETTA’s smart contracts being used to store funds.

To be able to use BETTA, and interact with our smart contracts, you will need to access the BETTA website via a Web3-enabled browser. We would highly recommend Opera, which is an excellent browser that not only has a crypto wallet and full Web3 functionality built-in, it also has a free VPN, ad-blocking and integrated messaging; we would also recommend the MetaMask plugin when used in conjunction with Google Chrome or Brave.

Latest Message: 3 days, 11 hours ago
  • BETTA : Yeah, we know, it sucks. We are looking at alternative chains that don't suffer from the ETH gas congestion problem, but the issue there is adoption. Not everyone is aware of, or uses, Tron for example and having to convert to/buy a native token for another chain creates another barrier to entry. We're always open to ideas though!
  • Dave : I was watching this site with interest last year, and looking forward to getting stuck in this season, but the current gas prices for Ethereum are CRAZY...really prohibitive for great projects like this one that are trying to find users. 🙁
  • Gunnersaurus : Come on the Arsenal!!!
  • guest_1951 : I'm amazed at how many goals come after the BETTA event has "ended"!
  • TheGunner : Looking forward to the big game tonight, but there's a whole afternoon of awesome football to get through before then!
  • guest_1282 : The Everton/Chelsea game was absolutely INSANE!!! Awesome match.
  • guest_941 : Wow! Crazy week! Loved the new game format - reminded me of the old ICO "gas wars"!!! 😀
  • guest_2341 : Er...clearly not!!!
  • guest_2234 : Spurs have suffered a fair amount of turmoil this week. What do we think? Will team performance suffer too?
  • Macca : Yeah, I was invited to test by the admins. Personally, I really enjoyed it. Found myself wanting to get into a match as early as possible (which I wasn't before) and then found myself going in time and again during the matches. Only small amounts for now, but it was good fun.
  • guest_142 : Shame we've got such a long break in the EPL now. I really wanted to try the new game format. Did anyone give it a go at the weekend? How was it?
  • guest_2551 : Ooooh - I see we have a new game format!
  • guest_8598 : Crazy day today! I'm not backing Chelsea to win...think the draw might be the right place to start! Annnnnd....I'm in!
  • TheGunner : Reckon the Liverpool/Spurs game should be a cracker - I always enjoy watching Spurs taking a beating!!! 🙂
  • podizzler3k : i like the UI a lot.
  • podizzler3k : here for banta
  • podizzler3k : yo yo
  • Womble-till-I-die : a banter box too 🙂
  • guest_131 : They're definitely having a better time of things this year, yeah
  • fox-in-the-box : Foxes looking great again this season, don't you think?
  • guest_3256 : Nope!
  • guest_6624 : You were wrong with that! Fancy Arsenal against Sheffield though.
  • guest_131 : Man Utd are going to get hammered!
  • guest_1032 : Looks like they did!!!
  • guest_3256 : Wow! I thought Villa had this...
  • BETTA : Welcome to BETTA Banter! Have fun, but please be respectful...

HOME WIN

Your Stakes:0.00
Total Staked:0.00
Players:0 (0%)
Potential Return:0 (0%)

DRAW

Your Stakes:0.00
Total Staked:0.00
Players:0 (0%)
Potential Return:0 (0%)

AWAY WIN

Your Stakes:0.00
Total Staked:0.00
Players:0 (0%)
Potential Return:0 (0%)
PosClubPWDLGDPts
1110033
1110033
3110023
4110023
4110023
6110013
7110013
7110013
9000000
9000000
9000000
9000000
131001-10
141001-10
141001-10
161001-20
171001-20
171001-20
191001-30
191001-30

HOME WIN

Your Stakes:0.00
Total Staked:0.00
Players:0 (0%)
Potential Winnings:0 (0%)

DRAW

Your Stakes:0.00
Total Staked:0.00
Players:0 (0%)
Potential Winnings:0 (0%)

AWAY WIN

Your Stakes:0.00
Total Staked:0.00
Players:0 (0%)
Potential Winnings:0 (0%)

YOU STAKED A TOTAL OF 0 ETH ON THIS EVENT

YOU ARE ABLE TO EXCLUDE YOUR CURRENT WALLET ADDRESS FROM PARTICIPATING IN BETTA EVENTS BY CLICKING THE "EXCLUDE" BUTTON BELOW

EXCLUDING YOUR WALLET WILL IMMEDIATELY, PERMANENTLY AND IRREVOCABLY PREVENT IT FROM PARTICIPATING IN, OR CLAIMING WINNINGS FROM, ANY BETTA EVENTS - THIS INCLUDES ANY EVENTS THAT ARE "IN PLAY", OR COMPLETED EVENTS FROM WHICH YOU HAVE NOT ALREADY CLAIMED ANY WINNINGS