We have finished the development of Betting dApp.
Now you can start your own decentralized betting for sports or other events on Ethereum blockchain with dApp Builder.
In dApp Builder the application creator specifies:
1. the name of the event;
2. the list of contenders;
3. an arbitrator for the betting (his/her Ethereum address);
4. the percentage of the arbitrator’s share from the winnings.
All participants can bet any amount in ETH on any candidate. When the event occurred, the arbitrator stops taking bets and announces a winner when he is defined. The funds bet on the losers (except the percentage of the arbitrator’s share) form a prize fund.
Then, those who bet on the winner may pick up their winnings. It consists of their bets and their share in the prize fund, proportional to the amount of funds bet.
For example, if two people bet on the winner: the first one had put 1 ETH, and the another one — 2 ETH, the second player will receive the winnings twice more than the first one’s.
To collect your winnings, you must click the Withdraw button at the dApp interface. The arbitrator gets his share the same way.
If no one has bet on the winner, all players can reclaim their bet (minus those funds that went to pay for the arbitrator’s services).
In addition to bidding, the user can view his bets, as well as his balance, which he can withdraw from the smart contract, if the winner has been already defined.
Try it now on https://dappbuilder.io/builder
Or watch the code on https://github.com/iBuildApp/dApp-Builder
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