The online gambling industry, particularly the professional sports betting sector, is experiencing annual growth. However, this industry also faces significant challenges that need to be addressed. Prominent issues include data security and insufficient transparency,which adversely affect user confidence and often discourage potential new participants from engaging in the online gambling market. A potential solution to these problems could be blockchain technology, which is considered by many recent studies to be a viable answer. Blockchain technology is characterized by decentralization, transparency, immutability and the elimination of necessary intermediaries, which could lead to cost savings, particularly from the user’s perspective. In this paper, we present a proof-ofconcept realized through a decentralized, smart contract-based betting platform for the UEFA EURO 2024. The system is developed using the Solidity programming language and deployed on the Sepolia Testnet on the Ethereum blockchain. The findings indicate that deploying such a platform on the blockchain is indeed feasible. This paper primarily serves as a framework for future work, especially for the addition of a Decentralized Autonomous Organization, in which we see great potential for the use case of a betting platform.
Keywords: Etherum, Blockchain, gambling, professional sports betting, decentralized
- Download the whole repository and import it in the Remix IDE
- Deploy EuroBetToken and EuroBetting with the admin Wallet on Remix IDE or any TestNet Server
- Use the Admin wallet to approve other wallets, create matches, close matches, and verify winnings
- Use User wallets to approve transfers, view all matches, change ETH to EBT, place bets and claim winnings.
- Download the local folder in this Repo and import it in VSC
- you need to download a few libraries and extensions to run this, but vsc will tell you that
This project is a potential backbone for an DAO-based betting platform, feel free to download it and to expand it
If you want to access the correlated paper, contact me!