DecentBet Whitepaper

Abstract is a transparent, smart contract based sports betting platform and
online casino. Employing the Ethereum blockchain based smart contracts, is aiming for mass adoption. Unlike other decentralized gambling
platforms which primarily use Ether and Bitcoin for transactions,
makes use of specialized ERC20 tokens – DBETs to facilitate bets on the platform
as well as buy credits in the house, known as DBET house credits. This opens up
numerous possibilities such as community owned houses, white label solutions and

The sports betting platform will make use of a trusted setup wherein
the addresses will provide betting lines and outcomes. All transactions
will be transparent and verifiable on the blockchain. This transparency will make
it impossible for malicious or predatory activity to take place from the outset. All
payouts, credit distributions, lottery winnings, house buy-ins, would be completely
decentralized and determined on-chain.

A whole host of gambling based casino games will also be available on the platform – making use of off-chain state channels that are finally
verifiable on-chain. The speed and scalability would combine the user experience
of a high-end gambling platform while bringing the transparency and auditability
of the blockchain.

This paper discusses the functioning of the user-owned house model,
state channel based casino games, white label solutions, decentralized houses and
business prospects for the platform.

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DecentBet Whitepaper