Wavesbet Whitepaper

Wavesbet is a modern, and revolutionary online betting platform that allows people to place bets using smart contracts 100% transparent and backed by the blockchain technology, our primary focus at Wavesbet is Fairness and Transparency. Wavesbet transactions are executed through our smart contracts on the Waves Network; this gives peace of mind to the players that use our betting platform and ensures that all the data is fair and valid. Wavesbet is going to change this by making players play against each other, so the house is not involved all we receive is a minimal fee of the bet.

Executive Summary

The rise of blockchain technology has led to a revolution in the gambling industry.

Wavesbet is at the forefront of this revolution. The main change is the transition from highly centralized gambling systems to decentralized, transparent ways of gambling. Wavesbet facilitates a way for players to bet against each other using smart contract technology. These smart contracts are entirely recorded on the blockchain and ensure total transparency and regulatory compliance. In traditional casinos, the “house” was required to verify bets between parties and record these bets. Through smart contract technology, a revolutionary way of gambling that empowers players has arrived. Wavesbet aims to be a leader in the online gambling industry by offering users a better, faster and safer way to place bets online. This will be achieved through the Waves Network, which ensures all data is fair and valid. Rather than the “house” being involved in transactions, players will play against each other, while Wavesbet receives only a small percentage of the bet to support the platform. Before the platform goes live, a gambling license will be obtained to verify to users that the entire operation is 100% regulated and auditable.

Wavesbet is developing a platform for launch to capitalize on the opportunities that cryptocurrencies and gambling create together. With the rise of the internet gave rise to dawn online gambling. However, online casinos are run by centralized parties on servers that you must entrust with your funds. All of these centralized casinos have the risk of being hacked or stealing the funds of their users. When this happens, users risk losing all of their winnings with very little chance of recovering them. There have been many instances where owners of online casinos have disappeared with users’ funds or used them for nefarious methods. In these instances, misappropriation of funds was caused by a centralized third party who did not act in the best interests of the users. A cryptocurrency-based casino eliminates this risk, by allowing users full autonomy over their funds. As users manage their private keys, they have full control over their funds with no risk of theft from third parties. A cryptocurrency-based casino is much safer than a traditional, centralized casino as funds are protected from theft.

Abstract
Wavesbet is developing a platform for launch to capitalize on the opportunities that cryptocurrencies and gambling create together. Online casinos are run by centralized parties on servers that you must entrust with your funds. All of these centralized casinos have the risk of being hacked or stealing the funds of their users. When this happens, users risk losing all of their winnings with very little chance of recovering them. There have been many instances where owners of online casinos have disappeared with users’ funds or used them for nefarious methods. In these instances, misappropriation of funds was caused by a centralized third party who did not act in the best interests of the users. A cryptocurrency-based casino eliminates this risk, by allowing users full autonomy over their funds. As users manage their private keys, they have complete control over their funds with no chance of theft from third parties. A cryptocurrency-based casino is much safer than a traditional, centralized casino as funds are protected from theft. This is where the wavesbet platform steps in!

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Wavesbet website
Wavesbet Whitepaper

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