Peerbet is no nonsense, simple sports betting site. [/center]
[center]There is no backend, there is no database, there are no accounts, it is all hosted on github and executed from my personal Peerbox.[/center]
How it works:
Users place their bets by sending Peercoins to appropriate address. Each address now represent a pot. Among three pots per game only one can win as bets are for the regular time soccer game only (90 minutes + extra time). Soccer game can end with: home win, guest win or draw. The house (Peerbet) takes the Peercoins from both losing pots, deducts the 5% house fee and distributes the resulting balance proportionally to input to all the bettors in the winning pool. Users from the winning pot can expect the winning to be distributed within 16h after the regular time of the game has ended. Payment will be sent to the address of the largest input of the bet transaction. Bets are accepted as long as they are sent before the game starts. Bets that come too late into the game will be returned to sender after house deducts 1.01 Peercoin fee. There is no minimum or maximum bet size.
Users, be warned not to send Peercoins from the exchange as system depends on you using your wallet.
I will open-source the backend scripts after the cup ends.
- What happens when there are bets for only one outcome?
- The funds are returned to user.
- What happens when there are bets for only two outcomes?
- If both pots lose, house keeps the winnings. This incentives users to never leave a pot empty.
- Will you continue the project after UEFA Euro 2016?
- No. This is only for this Euro cup with intention of promoting Peercoin.
- What will you do with profits?
- I have already publicly promised that I will donate 40% of the profits to PeerKeeper project by @hrobeers. The rest of it will also be invested into Peercoin related projects.