Are you a GAMBLER ?

GambleTribe is in the Game !

1. Abstract

GambleTribe is a decentralized and social betting project based on the Binance Smart Chain (BSC).

2. How do the bets work?

For every sports game, different pools, representing the issue of the game are created: The team or the player A win, tie game, The team or the player B win. The bets are open till the beginning of the game and are closed until the end. When the game is over, all the profits are sent to the winning gamblers.

3. Calculation of bet odds

The bet odds are calculated according to the mechanism of the one used by PMU (Pari mutuel urbain) :

The odds of a team or a player are calculated according to the amount sent to the corresponding pool in proportion to the total amount bet in the other pools.

The formula is: C = (M-m)/m where C is the odds to calculate, M the total amount of the bet and m the bet on the player/team.

To calculate it, we take the gross odds, multiplied by the redistribution rate (90% as for traditional bets) and add 1 (which is the starting bet). The ratio is generally called “usual odds.”

Everything is easier with an example so let’s take one!

Ex: Soccer game, Team A VS Team B

100 BNB are bet on the victory of Team A.

80 BNB on the victory of Team B

20 BNB on a tie game.

The total amount bet is 200 BNB.

The odds of Team A is: CA = 0,9*(1+(200–100)/100) = 1.8

The odds of Team B is: CB = 0,9*(1 +(200–80)/80) = 2.25

The odds for the tie game is: CN = 0,9*(1+(200–20)/20) = 9

Therefore, if Team A won, its gambler will earn 1.8x their initial bet. If Team B won, its gambler would earn 2.25x their bet and for those who believed in a tie game, they would win 9x their bet.

Of course losers will just have their eyes to cry ;)

As you understand, these odds are changing until the game is started. A new bet from a new player also means a new odds.

4. Canceling a bet

Once the money is sent, the bet is considered as valid, therefore, the money can not be withdrawn. Only the potential benefits will be sent after the end of the game.

In case the game is canceled or postponed, all the bests will be canceled and all the money raised will be sent back to the wallets of the gamblers.

5. Tokenomics

The nativ token of our protocol is the $GAMBLER.

It will serve as a governance token and a way to redistribute a part of the fees generated by the protocol.

More information about it will be released soon so stay tuned!

Bet according to your beliefs, not according to the odds!

And of course, never forget that: Life is a Gamble !

Follow us on twitter : @TheGambleTribe

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