Web3 Bets (BXB)

Web3 Bets (BXB) is an open-source, decentralised, p2p betting ecosystem that operates on blockchain technology. Unlike traditional betting channels where players bet against bookmakers, in Web3 Bets, players transparently bet against each other on the blockchain. This ensures that players receive their full rewards and eliminates the risk of the “bank” being broken. The platform offers two types of applications: PariBet Games and Fixed-Odds Games, both built on the blockchain and powered by smart contracts.

PariBet Games are decentralized parimutuel/pool betting applications where players can bet on specific outcomes out of two or more outcomes. All bets of the same side are collected and placed as a pool, with the staked values distributed to the winners pro-rata at the end of the event. Fixed-odds games, on the other hand, function as a decentralized betting exchange. Players can wager against odds offered by other players and set their odds, creating a peer-to-peer betting experience.

Web3 Bets utilizes blockchain technology to address common challenges faced by bet players on traditional betting channels. It offers anonymity, privacy, and enhanced security due to the tamper-proof nature of blockchain data. The platform also ensures no censorship or arbitrary account restrictions, fostering trust between players and the ecosystem. BXB is the native utility token of Web3 Bets, used for paying vig in the ecosystem, earning rewards, and participating in governance votes. With a total supply of 1,000,000,000 BXB, the token operates on the BNB Smart Chain (BEP20) network.