The Betero Platform
What distinguishes Betero from other betting platforms? Betero is a blockchain betting market that allows its users a big variety of bets because there is no high liquidity required. The Betero escrow account will be updated in real time and will allow users to withdraw their winnings to their crypto wallets at any time. In addition to the simplicity and speed of the Betero betting platform, users will have another advantage over traditional providers. The full profits will be distributed back to the players and BTE holders.
How will the play work on the betting platform Betero? Users place a bet and the winnings will be credited directly after the end of the game to the user’s Betero account. If users lose the bet they get a cashback and can bet again.
If I lose a bet, do I lose the entire stake? Players can lose their entire stake, but then get a cashback returned out of 25% of all profits made. Players who won their bets do not receive a cashback.
Can I place a bet in real time? Yes, Betero users can also access a large section of live betting. They can place bets in real time on outcomes of games that are already happening. The Betero backend is able to update and process odds in real time to provide users with up-to-date odds at all times.
How is the resolution of bets? After the end of each game, all user bets are getting resolved. Users who won a bet receive their winnings within minutes to their Betero account after the game officially ended. The bets are being resolved by relying on several data providers for defining the odds.
How does the cashback system work? The cashback from the profit redistribution program will be split between the four premium tiers. Users in the highest tier will share a bigger amount of the cashback. This incentivizes users who bet frequently to hold more BTE to receive higher cashback
When will Betero launch? The Betero mobile app is going to launch in late Summer 2022 before the new soccer season is starting.
Will Betero be limited geographically? Betero is available globally. However, we reserve the right to exclude certain countries from availability.
Which cryptocurrencies will be accepted on the betting platform? Betero accepts Bitcoin, Ethereum, Tether (USDT), USDC, BNB, BUSD, AVAX, CRO
What will be part of the Betero DAO?
- Data providers for the odds
- Profit redistribution percentages
- Supported cryptocurrencies
- Sports and leagues
- Direction of future development
- Use of the ecosystem fund to fund projects that support Betero
- Allocation of marketing funds
What does a people-oriented betting platform mean? It means to integrate a hybrid DAO concept where holders can vote for their preferred data providers. Accepting multiple crypto currencies to make it as easy as possible for the users. And having the Betero profit redistribution in place to give back all profits.
Is Betero a prediction market like Augur or Gnosis? No, Betero is not dependent on liquidity pools and can provide their users a variety of bets. Also the resolution time is immediately after the game and doesn't take a few days like on other prediction markets.
Does Betero need liquidity pools to place bets? No, there are no liquidity pools needed.
What if a user bets on a certain outcome and nobody else places a bet against it? Because of the high liquidity on the platform the bet can also be resolved without having someone betting against it. There are certain maximum bet limits though.
How is Betero connecting to the blockchain? Over the in-house smart contract solution, which is controlled by the integrated DAO.
How long does the deposit of crypto take until users can start playing? After the Betero account has been topped up with crypto, users can place bets immediately. Where are the odds on Betero coming from? The bets are being resolved by relying on several data providers for defining the odds. BTE holders can decide on which data providers to use and what odds the bets will have. By aggregating various sports data providers, Betero will be able to offer the best odds on the market. Moreover, through the integrated Betero DAO, token holders can vote for their preferred data providers which get aggregated to the Betero Sports Data Consensus mechanism.
Is Betero a centralized company? No, Betero is a decentralized company where eligible token holders can submit proposals or vote for existing proposals to change the mechanisms of the platform.
How long does the resolvement of bets take on Betero? After the end of each game, all user bets are getting resolved. Users who won a bet receive their winnings within minutes to their Betero account after the game officially ended.
What is the Betero profit redistribution? With Betero, most of the profits made on people’s bets will be returned directly to the users in the form of cashback and staking rewards. Before the profit redistribution begins, all other cryptocurrencies are converted into BTE.
Is there going to be an Android and iOS version of the app? Yes, Betero will release a mobile app for Android and iOS.
Can users withdraw their funds back to their wallet at any time? Yes, withdrawing from the Betero account is possible at any time. However, the funds of active bets are locked until the end of the game.
Is KYC mandatory in all countries? No, it depends on the regulations in the country the user is coming from.
Are users able to place bets without providing KYC? If there is no regulation in the users country they can start betting on the platform without a KYC process.
Is KYC done directly by Betero and does Betero hold all sensitive user data? The KYC process is handled by an external service provider. BTE token holders can participate in defining the provider initially, or can make proposals to change it.
Will Betero offer live betting? Yes, Betero users can also access a large section of live betting.
What's the Betero Sports Data Consensus? Multiple sports data providers are aggregated into one database to define Beteros highest odds possible and to have decentralized data sources.
How does the profit of the Betero platform get calculated? User betting volume * odds in favor of Betero = Turnover Turnover - Running Costs = Profit
How generates Betero profit? Because Betero doesn't charge any fees? Not charging extra fees means that Betero is offering the best odds on the market without any hidden fees. However, those odds are still a lot in the favor of the sportsbook and yields high revenues for the platforms. With Betero all those revenues will be distributed back to the players and token holders.
What do new users need to do to be eligible for a deposit bonus of 100% up to 100$? In order for the bonus to become payable, the customer must place a betting slip at least three times with odds of at least 3.00.
There is quite a long list of supported football divisions. Are there any divisions excluded specifically? No, users can bet on every possible sport and globally recognized professional leagues.
Is the list of “Betting Opportunities” limited to those mentioned or just for reference? It’s just for reference, there are so many more betting opportunities.
What is the Betero Boost Game? In Betero Game, several players compete against each other in self-created leagues by assembling the strongest soccer team, composed of real professionals, possible within a set budget.
As a user, do I have benefits by actively playing the Betero Boost game? Yes, In the Betero Boost game, users get free BTEs that can be used as a booster for future bets, thus increasing the bet volume on Betero. Having high retention on our app users, makes them more likely to place bets on Betero.
Is the market of betting platforms growing or declining? The market of betting platforms is on the rise and expected to double in betting volumes in the next five years.
Is there going to be a test version of the Betero app before it goes live? Yes, Betero will release the web version on BSC Testnet.
What is the long term vision of Betero? Betero’s vision is to eliminate capitalism’s stranglehold on the betting market and distribute profits back to the players and token holders. We want to dissolve the existing structures that enable platform providers to earn high profit margins on people’s bets. It is also an opportunity to explore breaking up a margin based marketplace economy, into a decentralized market that rewards the participants.
How high can the profit of betting platforms be based on the betting volume? Betting platforms easily generate 5-10% profit on normal bets and if users are placing accumulated bets, those odds get multiplied. For example, if a user accumulates 8 to 10 bets, the profit for the platform grows to between 40 and 60%.
For what are the funds for marketing going to be used? 20% of all profits made are spent on marketing and the sponsoring of football clubs and players. This ensures Betero reaches a wide audience globally and can grow steadily.
What is a DAO (Decentralized Autonomous Organization)? A DAO (Decentralized Autonomous Organizations) allows eligible token holders to submit proposals or vote for existing proposals to change the mechanisms of the platform.
What’s the minimum voting power required for governance proposals in order to get implemented? Governance proposals need to have at least 5% voting power of all circulating BTE governance tokens.
What are the Betero Premium tiers? You can choose from Wooden, Bronze, Silver and Gold.
What is the Betero Boost and how does it work? The Betero Boost is given to active users from the Betero Club Manager Game and can only be used with a new bet in cryptocurrency. For example, consider that a player earns $100 in BTE by playing the Boost Game. Then they need to provide $100 in crypto for the 2x multiplier; their bet would have the value of $200. If the user is Platinum, they only need to add $50 in crypto to play with a value of $200.
What is the reason for the Betero Boost game? The Boost is another mechanism for incentivizing users to bet more often on Betero.
What is the Bet Pump? With the Bet Pump you can improve your odds by up to 10 %.
What is the Bet Oracle? The Bet Oracle collects tips and resentments from thousands of app users and analytics companies. It shows what team has a better chance of winning the next game.