BEETon is a decentralized, multi-tenant betting platform running on Ethereum blockchain and Smart Contract technology. It enables users to bet on the rise or fall of prices of various Cryptocurrencies in the form of a “race”. BEETon users will place wagers which directly compete with bets placed by other players.
Users of the BEETon multi-tenant platform can bet on the rise and fall of Cryptocurrency prices or become “Booth Owners”, where they can manage their own microsite and create races and share links with bettors. BEETon also allows Booth Owners the opportunity to create exclusive races where bettors would be whitelisted by the race creator.
A Booth Owner both creates races and sets rules, like making a race exclusive, setting minimum betting amount, or determining how many coins take part in the race. Booth Owners have a dedicated landing page to host their own races. For every completed and successful race created, the Booth Owners gets a percentage takeout for the total winnings. These dedicated landing pages enable Booth Owners to host and promote their races on their favorite social platforms, which will drive users to their microsite and place bets on their races.
For each successfully executed race, a takeout of 3% of the winnings will go to the booth owner and another 3% to the house for races created by a Booth Owner while for house races the takout is 5%. BEET token holders get an quarterly reward for all profit generatd (5% for house races and 3% for Booth Owner races) by BEETon.