Ethorse Whitepaper

Abstract

ETHORSE is the ultimate combination of horse betting, blockchain technology, and cryptocurrencies. It is an Ethereum Smart Contract based DApp for betting on the price of Cryptocurrencies and win from everyone who bets against you. Ethorse is an interesting tool for all cryptocurrency traders who like to bet on the price movement of Cryptocurrencies. Users bet with ETH on one of the listed coins or tokens to have the highest gain in a fixed period (Parimutuel Betting). All bets are placed in the blockchain, allowing users to see the total number of bets, the total bet amount for each coin, and the Payoff odds deriving from them. This allows users who follow the crowd to pick a winner easily. However, the Payoff-odds can also be used to bet on an underdog for very large wins. The platform can be used to bet and win ETH in both Bull and Bear markets. Compared to mainstream betting sites and centralized exchanges, Ethorse holds many advantages as it does not require users to signup and deposit funds to an entity. As the development is open source and the funds are secured by the Ethereum Smart contracts, Ethorse enables a completely trustless peer-to-peer betting environment. The prices are pulled from the exchanges using Oraclize and it is done in a way to avoid manipulation. With a user-friendly interface, Ethorse is a groundbreaking platform and has the potential to attract a large set of the trading population in the crypto space.

HORSE, the platform’s tokens, are issued to the crowdsale contributors. A 5% takeout from all the betting pools goes to the reward pool, which can be claimed by the HORSE token holders by using our dApp and staking the tokens during a fixed period. The 5% takeout from the bet pools is minimal compared to the usual 15%-25% in horse betting [1]. At the end of each quarter, a smart contract on our dApp site will be used to claim ETH from the reward pool based on the proportion of HORSE tokens staked in a compatible wallet during a particular time period. For example, a wallet staking 10% of the total HORSE token supply in our dApp will receive 10% of the reward pool. As the bets are always placed between the users and bankroll does not pay the winners, the reward pool balance will always remain positive. As the platform gains popularity, Ethorse will allow users to bet using HORSE tokens which can unlock advanced features and enjoy a smaller takeout.

Ethorse Website
Ethorse Whitepaper

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