Blockchain launch for BETR programme
Published 9th January 2019
A new version of BETR’s smart contracts system has just been released, including the introduction of BETR Affiliates and a decentralised sports betting marketplace using the BETR token.
The thinking behind the smart contract is that it will make it possible to tag BETR wallets introduced by affiliates, enabling commissions to be paid instantly from the layer wallet.
According to BETR, its affiliate model differs from others in the industry, as the commission is calculated from every losing bet. Therefore, when a punter loses a bet, a percentage of the individual’s losses are automatically paid by the smart contract from the layer to the affiliate’s wallet.
BETR layers’ affiliate commission is initially set to 1.5%, which equates to approximately 20% of gross gaming revenue, depending on the margin of the bets.
BETR added that there is no negative exposure to winning bets and the layer pay-out is instantaneous on settlement of a bet rather than at the end of the month.
Each wallet introduced by an affiliate is tagged on Ethereum and cannot be de-tagged or changed in the future.
“Affiliate marketing is vital for any growing business,” BETR chief executive Adriaan Brink said. “We need to drive user numbers and we believe the unique BETR affiliate model will attract affiliates from across the industry and ultimately increase the player base.
“The instant commission pay-out from layer wallets to affiliate wallets is a one of a kind in this industry and a game changer for affiliates.”