- Access to a computer and internet connection.
- MetaMask: Install it as an extension or add-on to the browser that you will use for our platform. You may need to install a compatible browser if you don’t have one already (Chrome, for instance).
- Ether (ETH): the digital currency you will use to place bets.
MetaMask is a free digital wallet that holds your ETH and connects you to Crypto Sportz. You’ll be assigned a public address which is used to send wagers to the Ethereum network and receive ETH when you are rewarded for your successful predictions. Download the app at: https://metamask.io/ Select the MetaMask extension that is associated with your web browser. Click to “Add” the extension and voila!
Create an account with a secure password. You’ll now be able to easily view and manage your ETH by clicking on the MetaMask icon in your browser. You’ll notice that MetaMask locks itself after a certain period of time - simply enter your password to log back in.
In MetaMask, click on the ‘buy’ option. Select your exchange based on where you live. Otherwise visit https://www.coinbase.com - a currency exchange. Use your public MetaMask address when it’s time to move your purchased ETH to your MetaMask wallet.
Before you make wagers, take a minute to get familiar with our website. Our homepage will display the currently featured game, a list of future matches, and previous ones (you can see prize payouts as well). At the top of the front page, you’ll see three important links:
Navigate to a match you’d like to make a wager on. Take note of details like the Smart Contract Value and minimum buy-in price. Some games have a limited amount of spots so join quickly! Click on your match and you’ll be taken to the next page where you make your predictions and wager amount.
All bets made on a particular game are placed together in a pool and divided amongst the winners in a parimutuel format after the house fee of 5% is removed. Let's say Alice bets 1ETH on Toronto while Bob bets 1ETH and Joe bets 2ETH on Miami. The winnings are calculated by sharing the pool among all winning bets. So if Toronto wins, Alice is rewarded 4ETH; if Miami wins, Bob is rewarded 1.33ETH while Joe is rewarded 2.66ETH. This is different from fixed-odds bets that predetermine your payout at the time you place your bet.
Use the respective drop-down boxes to make your prediction on the final score of the game. We’ll have a table of positions (below) for you to see how many people have bet on a particular final score. If 10 people wager that PSG will beat Real Madrid by 5-1, you will see a ‘10’ in the corresponding box.
Players enter a pool with other players wherein each picks a team or a player for a specific time-frame (sport-dependent). Your success in this format depends on how your pick performs over a series of matches/games/rounds. Survivors of the pool are the ones who have the most correct predictions. The ETH is divided amongst pool survivors.
This is a straight prediction on the outcome of the winner of a certain game. To win Ether, you simply have to predict the correct outcome of the game (Arsenal beats Manchester United).
Your prize will be redeemable once games are validated. Check back to see if the smart contract has “resolved itself” yet.
Once the Smart Contracts are resolved, the token that you purchased is validated as either a winning or losing one. Go to “My Games” and click Redeem when you’ve guessed correctly!
We’ve put out an article that explains the technological aspects of our platform: https://medium.com/@cryptosportz/building-a-decentralized-betting-platform-development-update-feb-1-2018-c1fda8bbda2d
This will depend on how many people have made wagers and how much has been wagered.
Blockchain technology executes reliably to validate games and reward winners. We guarantee the execution and resolution of Smart Contracts. Keep in mind, we are in our beta phase and we are working with you to identify and resolve any issues as they arise.
Absolutely not! If you are concerned that we can scam you out of Ether, rest assured, we actually do not have the ability to do that since your ETH wallet does not allow anyone to remove funds: ETH is either sent or received by you. This wallet is secure and it’s up to you to keep your password safe.
Yes - whatever the standard transaction fees are at the moment on the ethereum network.
Hang tight! Once games are validated (we’ve set up an Oracle system that updates game results), winners will be able to receive their ETH prizes.
No. We’ve decided to power our platform using blockchain technology because we believe that it isn’t our business or anyone elses what you do with your ETH. There are lots of places where you can get Ether. One of our posts covers this.
We attach a small fee of 5% to all ‘Smart Contracts’, which is just a fancy technological term for the agreement you enter upon making a wager. So make your wagers and Ethereum will do the rest.