BETTA provides smart-contract controlled P2P ETH betting, directly from its users' wallets. No sign-ups, no accounts, no deposits, no unnecessary tokens. Stake ETH, win ETH.
BETTA adopts a "risk-enhanced" parimutuel (pooled bets) model, with losing stakes being paid to winning wallet addresses proportionate to the amount of risk adopted by each wallet address during the course of an event.
Events are created by BETTA's users. The event "Sponsor" (the first user to stake ETH on an event outcome and, thus, create an event) receives 1% of all ETH staked on the event, regardless of outcome; whereas an event's "First Challenger" (the first wallet to stake ETH against the Sponsor's predicted outcome) receives 0.5% of all ETH staked. Fees are deducted from winnings prior to distribution and, as such, BETTA is completely free to use.