Below is a an overview of how XFUN.bet as a peer-to-peer decentralised Sports book works and makes betting FUN, FAIR, and TRANSPARENT.
XFUN.BET is a fully decentralised peer-to-peer Sports book. Unlike traditional Sports books XFUN.BET uses FUN as its primary currency as opposed to FIAT currency. Like any Sports book its is easy to use and offers an array of different sports.
Unlike traditional sports books XFUN.bet does not offer a login facility, instead we require our users to authenticate by connecting their wallet. Once a wallet is connected and funds are available the User will have full access to our sports betting facilities. This way XFUN.bet maintains its decentralised promise, it does not store your personal details on the system and it remains secure by invoking blockchain technology.
As part of the product offering and to be inline with the decentralised nature of DAPPS, XFUN.bet allows Users to engage with the application by laying bets as a Bettor or by allowing Users to engage as a Layer. The Layer functionality allows our Users to essentially play the role of the bookie via our lay-site here
XFUN.bet is not a traditional Sports book in a sense that it is a peer to peer sports betting platform where Bettors place bets against the Layers. The market rate and odds are calculated by monitoring the odds available on the different markets and offering these odds to the Layer. If a Layer agrees to the odds offered they can post this stake to our ecosystem which is then made available to the Bettors.
When a bet is placed using FUN there are no fees on the transaction, we have achieved this by using the FUN currency which is specifically designed to facilitate betting transactions. The only time our Users will incur Gas fees is when the FUN currency is traded to and from a different crypto currency, for example if a User wins a bet and wants to exchange their winnings for another crypto currency (such as FUNToken). The market rate changes all the time so before exchanging you may want to check the market rate first, this can be done on many platforms such as Etherscan.
In order for XFUN.bet to protect your account and log you in without credentials, XFUN.bet uses blockchain technology to authenticate you on the system, allowing you to place bets using the funds straight from your wallet. This is a non-custodial way of accessing your funds without holding them on the XFUN.bet system. This makes it more secure and also gives you complete control of your finances.
If you do not have the XFUN wallet you can download it from https://xfun.io. Its a simple process which takes less than 3 minutes to complete. Don’t forget to keep your PIN and memorable phrase somewhere safe or memorise it for future reference.
If you do not have funds in your XFUN wallet you can simply add some using the Exchange within the wallet:
To make a selection on a game, you can choose from one of the following components that are found throughout the site: 1. Featured Event Cards, 2. Event Rows, 3. Individual Markets.
Once a selection has been made, a list of Layers and their associated Odds and Maximum bets is shown. Choose your preferred Layer to proceed to the place bet screen, where your bet amount can be submitted.
To place a bet, enter an amount in the ‘enter bet’ field (remembering to keep within the minimum and maximum bet values for your chosen Layer. Click ‘place a bet’ to submit your bet.