Our decentralized betting platform allows two parties to create and settle bets using smart contracts on the blockchain. All funds are held in escrow until the bet is resolved, ensuring security and trust for both parties.
The platform supports both native tokens (ETH/ARB) and ERC20 tokens, with built-in dispute resolution through arbitrators and a self-settlement mechanism through proposals.
When you create the bet, you must deposit your stake amount. If using an ERC20 token, you'll first need to approve the contract to spend your tokens, then deposit them.
Once created, you'll receive a unique bet URL. Share this with your opponent so they can join and deposit their stake.
When you receive a bet link, you can view the bet details and deposit your stake to join. You must deposit the same amount as Bettor 1 (the stake amounts must match).
Once both parties have deposited, the bet is active and either party can propose a settlement or raise a dispute.
Proposals allow bettors to suggest a winner and settle the bet without arbitrator intervention. This is the fastest and most cost-effective way to resolve a bet.
When a proposal is accepted and the bet is settled, a 1% base fee is charged on the total stake amount. If a dispute was raised (by disagreeing with a proposal), a 5% dispute fee applies instead.
A dispute is raised when:
Disputes incur a higher fee (5% vs 1%) to discourage frivolous disputes. Make sure your bet description is clear and detailed to help arbitrators make fair decisions.
Each bet has two arbitrators assigned at creation. Arbitrators are trusted third parties who can settle disputes.
Arbitrators review the bet description and determine the winner based on the agreed-upon terms. This is why it's crucial to write a clear, detailed description when creating your bet.
Both bettors can agree to cancel a bet and receive refunds (minus a cancellation fee).
Note: Cancellation requires both parties to agree. You cannot cancel unilaterally.
| Fee Type | Amount | When Applied |
|---|---|---|
| Base Fee | 1% | When a proposal is accepted and bet is settled |
| Dispute Fee | 5% | When a dispute is raised and bet is settled by arbitrator |
| Cancellation Fee | 0.5% | When both parties agree to cancel |
All fees are calculated on the total stake amount (stake1 + stake2) and paid to the fee collector.
When creating a bet, you can optionally set a time lock that prevents proposals and disputes until a specific date and time.
Time locks are useful for bets that have a specific end date or event that must occur before settlement can be considered.
Users can earn points by participating in bets. Points are awarded for various actions and can be used to track your activity on the platform.
A: If you don't respond within 72 hours, the proposer can withdraw all funds. You will lose your stake. Make sure to check your email for notifications and respond promptly.
A: No, cancellation requires both parties to agree. If you want to cancel, you must request cancellation and wait for the other party to confirm.
A: Arbitrator decisions are final. This is why it's important to write a clear, detailed bet description so arbitrators can make informed decisions.
A: Yes, you can use custom tokens, but they are not eligible for the points program. To earn points, use one of the listed tokens on the platform.
A: You have exactly 72 hours (3 days) from when the proposal is made. Email notifications are sent at 24 hours and 1 hour remaining to remind you.
A: Yes, arbitrators can settle bets at any time, regardless of whether a dispute has been raised. They are not bound by time locks either.