DecentBet (DBET) is a sports betting and gambling platform, which is decentralised in nature. DecentBet (DBET) aims to revolutionise the industry of gaming. This gambling platform is hosted on smart contracts. The operations are on Ethereum blockchain.
DecentBet provides permission to everyone to buy into houses on the platform. They can receive returns based on profits. These profits are obtained during each quarterly operation. DecentBet is going to make an initial offering of betting games such as slot games and sports betting. Other games will be released gradually by DecentBet as part of the platform in time to come. The proposed games are betting on cryptocurrency price, craps, roulette and many such more games.
All betting lines and outcome of games will be provided by the DecentBet house. In the beginning, DecentBet will provide a single house. This house will be managed by the gaming platform. All lines and outcomes of active games will be pushed in by DecentBet.
Any betting transaction on the platform of DecentBet needs to use DBET. This DBET is the native token of DecentBet, which is an ERC20 standard token. DBET can only be used to place bets on any game that is active, which has been pushed into the contract of DecentBet. No fees is needed to be paid for placing bets except the fees for Ethereum gas fees. All transactions on the platform of DecentBet need DBET. This crypto coin DBET can be bought by using Ether from any of the partner exchanges of DecentBet.
Every outcome of sports betting, which is pushed in to contract, will be visible publicly on the blockchain. These outcomes can be viewed to verify that all results that are pushed are correct and accurate. DecentBet does not hold any plan for having a consensus mechanism to decentralise this part of the gaming platform. It is a complex problem which is solved by number of platforms right now. But unfortunately, no stable result could yet be achieved. DecentBet platform plans to host multiple centralised oracles through white labelled houses. This will greatly increase the choice of betting operators for each year. If any result turns out to be wrong on the platform, the wrong results can be contested and rolled back.
DecentBet offers the investors the opportunity to invest in the house. This investment only will generate returns, without having to perform any additional acts. DecentBet is the first platform to offer verifiable sports bet on a blockchain.
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