Platform Mechanics

SolBetz streamlines P2P sports betting with a seamless, decentralized process:

1. User Registration – Connect a Web3 wallet (no KYC, no custodial accounts).

2. Event Selection – Browse sporting events across various leagues and markets.

3. Bet Creation – Define odds, stakes, and conditions (e.g., “Team A to win at 2:1 odds for $50”).

4. Bet Acceptance – Other users accept your bet. The initiator is the “layer” (betting against the outcome), and the accepter is the “backer” (betting for the outcome).

5. Smart Contract Execution – Bets are locked in open-source smart contracts, holding funds in escrow.

6. Settlement – Outcomes are verified, and funds are automatically distributed to winners.

7. Low Fees – Minimal protocol fees, significantly lower than traditional sportsbooks.