crypto-bet

Our Idea is to implement transparent betting and gambling applications over blockchain.

Description

As we all are aware that betting market is huge , people across the globe place millions of dollars combined on a single match someday, so we came across the idea why not to make a web app based on blockchain where people can enjoy betting with true transparency, to avoid the problems people facing each day like delayed withdrawal, getting banned from website and many other things . This will be solving everything in near future, we will be using automated odds adjuster for defining the odds , details for same written below :

• Writing smart contracts for the whole betting application.
• Admin can add new bets, declare outcome of bets, register new tokens
• Only the registered tokens are allowed for deposit,withdrawal and bet.
• Users can bet freely with restriction.
• Users can either deposit and bet or do instant flashbet.
• Automated odds maker for match odds
• Instant Withdrawal or deposit for all users using crypto wallets.
• Right now we are only dealing with Stable coins.

Potential Impact & Business Value :

As we all are aware that this market is huge and right now we don't have much competitor in market so if we go in right now with this product, we can make huge business impact and make hell out of profit from it , a good betting wetsite on web2 make around 200-300$ per day just by attracting users to use the service over their website and there's so many problems users facing right now over web2 platform our web3 platform will almost eliminate all these problems

Revenue system :

Well right now we are giving 100% back to the users, suppose User1 place 100$ on TeamA and User2 place 100$ on TeamB (consider 1:1 complete odds) and TeamA wins , then we are giving 200$ to TeamA right now which can be reduced to 185-190$(included gas fee) so admin can get 10-15$ profit , consider 1 million $ worth bet placed on a match ,admin can get 50k USD to 75k USD, (that’s how the site owner or we makes the profit)

Instruction to run the app :

• install metamask in your browser
• install node and npm
• git clone git@github.com:itssunny322/crypto-bet.git
• cd crypto-bet
• npm install
• npm run

Metamask credentials:

• private key : 577e6955812fdad9ad10ec4bafdac84f6b3ca751882910f711e0fc7ded2ad53e

In-order to test the features

• Import above metamask account
• Please use this admin account only for testing(because the registered tokens available in this account)
• Connect now using Metamask wallet

Testing admins feature

• Click on admin tab
• Add events
• Register new token
• Declare winner for the event
• Cancel a event( Pending )

Testing betting features

• Deposit : Go to Wallet page, enter amount, select token, select deposit and deposit some token.
• Bet : On home page, click on bet , select the team, enter the amount and place your bet.
• FlashBet : On home page, click on bet , select the team, select the Token, enter the amount and place your bet.
• BetHistory : Go the bet history page to see all your betting history.
• Store : Go to the Store page, you can see the amount of tokens available.
• WithDraw : Go to Wallet page, enter amount, select token, select deposit and deposit some token.

Hosted on : https://silver-speculoos-8ed506.netlify.app/

Video description : https://www.youtube.com/watch?v=fNr8PvycDE4

Contributed by :

• Sunny