This pool allows users to place wagers on a variety of sports and games with smaller stakes. It provides instant action, ensuring bettors can participate without needing a direct counterparty.
Designed for high-stakes bettors, this feature enables no-limit peer- to-peer wagers globally. If a wager posted on the Whale Board is not accepted within 10 Minutes before the game starts, funds are automatically returned to the bettor’s wallet.
Even a highly skilled bettor can lose four or more of ten wagers placed. Assuming a bettor loses four of ten $100 wagers, it will cost him $40.00 on top of his losses (10% fee or juice on losing wagers). If he loses all his wagers, it will cost him $100.00 in juice. However, placing all ten wagers using BetsWave will only cost him $10.00 (win or lose). A bettor would have to win more than 90% of their wagers to not save money placing their wagers on BetsWave.
As a decentralized platform, BetsWave relies on sports data feeds and smart contracts to collect and distribute wagered funds. There are no employees managing the collection and payment of wagered funds (e.g., a Sportsbook or Casino) and there can be no human intervention in a wager once it has been placed. The bet parameters are locked into an immutable smart contract prior to the start of the game and the grading results are injected into the contract after the game to unlock funds to the winning party's crypto wallet.