Betoneall is betting game on real sport events with cryptocurrency

 

Registration

Everyone can register and join Betoneall. Users can be registered directly using our blockchain authentication mechanism. There are no rules or restrictions for registrations and user accounts are anonymous.

Users are identified with a username which is only visible to admins and with public signature equals to username. Users receive generated passwords, which must be kept safe. Passwords can not be changed and are permanently stored in blockchain. With registration on service and after successful verification user may receive registration bonus*. For verification of an account, users need to confirm registration via blockchain verification mechanism. All submitted or generated data in process will be private and will be used only in cases covered in privacy policy.

*registration bonus is only available for some fixed number of new users. Registration bonus is immediately available on the user account and can be used for betting or can be withdrawn to the user's personal wallet, after met conditions defined in Withdraw terms.

Login

User is logged on site with username and password. For additional security sometimes users will need to provide security code which can be verified by Verification mechanism.

With login users may receive login bonus*. This bonus is a fixed amount of currency and is received only once in specific period login. Only restriction is that users must spent ( by betting) an already earned daily bonus  in order to receive a new one. Similar to registration there are fixed amounts of bonuses which will be distributed to users.

* Bonus will not be available during beta phase of website, instead user will receive bonus on different way.

Token

Main currency for betting and profiting is special cryptocurrency token, which can be only used for this purpose. This token is an asset created on Waves platform and is immediately ready to use and trade. Token is backed by one or more other currencies which choose to participate in the project. Real value of a token will be determined by initial success of the project and later demands/offers on exchanges.

Amount of token is always visible in the user account and the user is able to use it for betting on games. Token amount can be increased on many ways:

 

Token amount can be decreased in following ways:

Wallet

For using a token on site, the user does not need to have a wallet. All amounts are stored in a transactional database and are always available to users for betting. Only for the purpose of depositing and withdrawing users must have created a wallet in chosen cryptocurrency.

For each backed cryptocurrency system will hold an internal wallet in order to apply an authentication mechanism. check and process transactions, and also to receive rewards from staking.

Betting

Main purpose of the service and game is betting on sport events. These events are real matches from different sports and leagues which are presented to users. A user can bet on many games as he wishes until he has enough tokens in his account. User is betting on the game by predicting the final result: host win, draw or guest win. For the final result is considered a match result in regular time, i.e. without extra time or shootout. Bet amount is always one (1) unit. Betting odds are calculated automatically based on number of participants in game betting and bet predictions. There are special described rules for calculating bet odds.

The main point is that all amounts which are collected for game bets will be spread equally among winners. Losers will just lose their input i.e 1 unit.

Game

Each game which is presented is open for betting two hours before its planned start. This is in order to prevent effects if sudden game time changes at the last minute. After passing this time the game is not available for betting and is presented as closed. During this time live score results can be displayed. Two hours after the start time match is presented as unconfirmed. In this status match is open for users who have no bet on this match to submit its final result.

Confirmation

When game is unconfirmed users may submit result if they know it. When minimum number of same confirmations are submitted, result is considered verified and game is confirmed. All users who participate in submitting correct result will receive confirmation bonus. Also game can be confirmed if the administrator or some external service enters the game result directly before reaching the minimum number of confirmations. In that case no users will receive confirmation bonus.