How Bets Work

Understanding Crypto Betting

In BeeNBet's crypto betting platform, you're placing bets on crypto-related events and outcomes. Each betting market has clear win/lose conditions based on real-world events.

Types of Bets

Win Bets

What they represent: You believe the event will happen
When you win: If the event occurs as predicted
Payout: You receive your crypto winnings

Lose Bets

What they represent: You believe the event will not happen
When you win: If the event does not occur
Payout: You receive your crypto winnings

Betting Mechanics

Odds Pricing

Dynamic Odds: Odds fluctuate based on market demand
Market Forces: More demand for one outcome changes the odds
Fair Pricing: Odds reflect the true probability of events
Transparent: All odds are publicly visible

Position Locking

Once you place a bet, your position is locked until market resolution:

No Early Withdrawal: You cannot cancel bets before the event
Commitment Required: This prevents manipulation and ensures fair play
Equal Treatment: All participants face the same constraints

Example: Crypto Market

Let's say there's a market: "Will BTC reach $100,000 by 2024-12-31?"

Scenario 1: You Buy Yes Shares

Your Position: You believe BTC will hit $100,000
If BTC reaches $100,000: You win and receive your full payout
If BTC stays below $100,000: You lose your initial investment

Scenario 2: You Buy No Shares

Your Position: You believe BTC won't reach $100,000
If BTC stays below $100,000: You win and receive your full payout
If BTC reaches $100,000: You lose your initial investment

Risk Management

Understanding Risk

All-or-Nothing: You either win everything or lose everything
No Partial Payouts: Unlike traditional betting, there are no partial wins
Market Volatility: Share prices can fluctuate significantly

Risk Mitigation Strategies

Diversification: Spread your bets across multiple markets
Research: Understand the events you're betting on
Position Sizing: Only bet what you can afford to lose
Market Analysis: Study historical data and trends

Betting Strategies

Conservative Approach

Low-Risk Markets: Bet on events with high probability
Small Positions: Limit your exposure per market
Diversified Portfolio: Spread risk across many markets

Aggressive Approach

High-Reward Markets: Target events with significant upside
Larger Positions: Take bigger risks for bigger rewards
Focused Strategy: Concentrate on your strongest convictions

Balanced Approach

Mix of Strategies: Combine conservative and aggressive bets
Risk-Adjusted Sizing: Larger bets on higher-confidence events
Continuous Monitoring: Adjust positions based on new information

Market Dynamics

Supply and Demand

High Demand for Yes: Yes shares become more expensive
High Demand for No: No shares become more expensive
Price Discovery: Market prices reflect collective wisdom

Information Flow

Public Information: All market data is transparent
Real-Time Updates: Prices reflect current market sentiment
News Impact: External events can affect share prices

Settlement Process

Automatic Resolution

Event Occurs: The real-world event takes place
Oracle Verification: Trusted data source confirms the outcome
Smart Contract Execution: Automatic payout distribution
Winner Receives: Correct predictions get their rewards

No Manual Intervention

Trustless Process: No human involvement in settlement
Transparent Rules: All resolution criteria are public
Immediate Payout: Winners receive funds automatically

Getting Started with Bets

Ready to place your first bet? Here's what you need to know:

Connect Your Wallet: Use MetaMask or compatible wallet
Fund Your Account: Have BNB for transaction fees
Choose a Market: Browse available prediction markets
Analyze the Event: Research the event you're betting on
Place Your Bet: Buy Yes or No shares
Wait for Resolution: Your position is locked until settlement

Important: Remember that all bets are locked until market resolution. Make sure you're comfortable with your position before confirming your bet.

How Bets Work

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