Payouts & Winnings

How Payouts Work

BeeNBet uses automated blockchain systems to ensure all crypto payouts are processed fairly, transparently, and automatically. When a betting market resolves, winners receive their crypto funds immediately without any manual intervention.

Payout Process

1. Market Resolution

When a market resolves:

• Outcome Determination: Smart contracts identify the winning side
• Winner Identification: System identifies all winning positions
• Payout Calculation: Calculate how much each winner receives
• Fund Distribution: Automatically transfer funds to winners

2. Automatic Settlement

All payouts are processed automatically:

• No Manual Intervention: Smart contracts handle everything
• Immediate Processing: Payouts occur as soon as resolution is confirmed
• Transparent Rules: All payout calculations are publicly verifiable
• Equal Treatment: All winners receive their fair share

3. Winner Notification

Winners are notified of their payouts:

• Transaction Confirmation: Blockchain transaction confirms the payout
• Wallet Update: Your wallet balance reflects the new funds
• Email Notification: Optional email alerts for payouts
• Dashboard Update: Your account shows the updated balance

Payout Calculations

Basic Formula

For each winning share you hold:

Payout = (Total Market Pool / Number of Winning Shares) × Your Winning Shares

Example Calculation

Let's say you have a market with:

• Total Market Pool: 1000 BNB
• Winning Shares: 200 shares
• Your Winning Shares: 10 shares

Your payout would be:

Payout = (1000 BNB / 200 shares) × 10 shares = 50 BNB

Share Value

• Initial Price: All shares start at 0.5 BNB
• Market Price: Share prices fluctuate based on demand
• Final Value: Winning shares are worth 1.0 BNB each
• Losing Shares: Worth 0 BNB (total loss)

Payout Examples

Example 1: Crypto Price Prediction

Market: "Will BTC reach $100,000 by 2024-12-31?"
Your Position: 5 Yes shares at 0.6 BNB each
Market Resolution: BTC reaches $95,000 (No shares win)
Your Payout: 0 BNB (you lose your 3 BNB investment)

Example 2: Sports Event

Market: "Will Team A win the championship?"
Your Position: 10 Yes shares at 0.4 BNB each
Market Resolution: Team A wins (Yes shares win)
Your Payout: 10 BNB (you win 6 BNB profit)

Example 3: Global Event

Market: "Will the new policy be implemented?"
Your Position: 20 No shares at 0.7 BNB each
Market Resolution: Policy is not implemented (No shares win)
Your Payout: 20 BNB (you win 6 BNB profit)

Payout Timing

Immediate Processing

• Smart Contract Execution: Payouts occur as soon as resolution is confirmed
• Blockchain Confirmation: Transactions are recorded on BNB Chain
• Wallet Update: Your balance updates immediately
• No Delays: No waiting periods or manual processing

Resolution Timeline

• Event Occurs: Real-world event takes place
• Data Verification: Confirm outcome through trusted sources
• Smart Contract Trigger: Oracle data triggers resolution
• Automatic Payout: Funds are distributed to winners

Payout Methods

Direct Wallet Transfer

• Automatic: Funds are sent directly to your connected wallet
• No Fees: No additional fees for receiving payouts
• Instant: Funds are available immediately
• Secure: Protected by blockchain security

Wallet Requirements

• Connected Wallet: Must have a wallet connected to BeeNBet
• BNB Chain: Wallet must support BNB Chain
• Sufficient Gas: Need BNB for transaction fees
• Active Address: Wallet must be accessible

Payout Security

Smart Contract Protection

• Immutable Code: Payout logic cannot be changed
• Transparent Rules: All calculations are publicly verifiable
• No Manipulation: Cannot be influenced by external factors
• Battle-Tested: Code has been audited and tested

Blockchain Security

• Decentralized: No single point of failure
• Tamper-Proof: Cannot be altered once deployed
• Public Ledger: All transactions are publicly recorded
• Cryptographic Security: Protected by blockchain cryptography

User Protection

• No Counterparty Risk: No reliance on third parties
• Automatic Execution: No human intervention required
• Equal Treatment: All users face the same rules
• Dispute Resolution: Clear process for handling issues

Payout Issues

Common Problems

• Wallet Not Connected: Ensure your wallet is connected
• Insufficient Gas: Make sure you have BNB for transaction fees
• Network Issues: Check your internet connection
• Wallet Compatibility: Ensure your wallet supports BNB Chain

Troubleshooting

• Check Transaction: Look up your transaction on BNB Chain explorer
• Wallet Balance: Verify your wallet balance has updated
• Contact Support: Reach out if you're missing funds
• Check Status: Confirm the market has actually resolved

Getting Help

• Support Email: support@beebbet.io
• Community Discord: Join our Discord for help
• Documentation: Check our troubleshooting guides
• FAQ: Common questions and answers

Payout Records

Transaction History

• Blockchain Records: All payouts are recorded on BNB Chain
• Transaction IDs: Each payout has a unique transaction ID
• Public Verification: Anyone can verify payout amounts
• Audit Trail: Complete history of all transactions

Account History

• Dashboard: View your payout history on BeeNBet
• Transaction Details: See details of each payout
• Market Information: Link payouts to specific markets
• Export Data: Download your transaction history

Tax Considerations

Record Keeping

• Transaction Records: Keep records of all payouts
• Market Details: Note which markets generated winnings
• Tax Reporting: Consult a tax professional for reporting
• Documentation: Maintain records for tax purposes

Professional Advice

• Tax Consultant: Seek professional tax advice
• Local Laws: Understand your local tax regulations
• Reporting Requirements: Know what you need to report
• Documentation: Keep detailed records of all activities

Getting Started

First Payout

1. Place Your Bet: Buy shares in a prediction market
2. Wait for Resolution: Market resolves automatically
3. Check Your Wallet: Payouts are sent directly to your wallet
4. Verify Transaction: Confirm the payout on BNB Chain explorer

Maximizing Payouts

• Research Markets: Choose markets you understand
• Analyze Probabilities: Look for mispriced markets
• Diversify Bets: Spread risk across multiple markets
• Manage Risk: Only bet what you can afford to lose

Remember: All payouts are automatic and immediate. If you don't receive your payout, check your wallet connection and contact support if needed.