P2P Bets (Player vs. Player Bets)
Last updated
Last updated
Bet Creation:
User initiates a new bet and sets the wager amount (e.g., $100,000 tokens).
Defines the counter-wager (amount the other player should match).
Defines the bet's specifics: What is the question/event, and an optional link for reference.
Bet Sharing & Acceptance:
Upon verification, the user receives a unique link for the bet.
The user shares this link with the opponent.
The opponent reviews the bet details and, if in agreement, places their wager, locking in the bet.
Dashboard Monitoring:
Users can monitor the bet from their dashboards.
Real-time updates and status of the bet are displayed.
Resolution:
Upon the conclusion of the event, the Oracle provides the outcome.
Funds are distributed automatically and securely based on the outcome - winner gets double the wager, with a possible platform fee.
Decentralized Process:
The entire process is on-chain and decentralized, ensuring transparency, security, and trustworthiness.
This P2P Bets feature promotes direct engagement between users and offers a more personalized betting experience, allowing players to challenge each other directly.