Frequently Asked Questions (FAQ)
General Questions
What is Bettors?
Bettors is a decentralized betting platform built on the Solana blockchain that allows users to place bets on various predictions related to influencers and events.
How is Bettors different from traditional betting platforms?
Bettors operates on the Solana blockchain, providing transparency, lower fees, faster settlements, and a pool-based betting system that offers dynamic multipliers based on the distribution of bets.
Is Bettors available on mobile devices?
Currently, Bettors is optimized for desktop use only. Mobile support is planned for future releases.
Account and Wallet
Do I need to create an account to use Bettors?
No traditional account creation is required. You simply connect your Solana wallet to use the platform.
Which wallets are supported?
Bettors supports all major Solana-compatible wallets including Phantom, Solflare, Backpack, Glow, and others that implement the Wallet Adapter standard.
Is my personal information stored on Bettors?
Bettors only interacts with your public wallet address and does not collect or store any personal information.
How do I disconnect my wallet?
Click on your connected wallet button in the header and select "Disconnect" from the dropdown menu.
Betting
What's the minimum bet amount?
The minimum bet amount is 0.5 SOL.
What's the maximum bet amount?
The maximum bet amount per transaction is 10 SOL.
How are odds/multipliers calculated?
Multipliers are calculated using the formula: Total Pool Size รท Amount Bet on Position. For example, if the total pool is 100 SOL and 25 SOL is bet on "For", the "For" multiplier is 4x.
What happens if I bet on the wrong position?
Bets cannot be canceled or reversed once confirmed on the blockchain. Please double-check your position before confirming the transaction.
Can I place multiple bets on the same prediction?
Yes, you can place multiple bets on the same prediction, either reinforcing your position or hedging by betting on both sides.
Fees and Payments
What fees does Bettors charge?
Bettors charges a 1% fee on all bets. Additionally, standard Solana network transaction fees apply (typically <0.00001 SOL).
Where do my funds go when I place a bet?
When you place a bet, 99% of your funds go directly to the betting pool, and 1% goes to the platform as a fee.
How are winnings calculated and distributed?
If your bet wins, you receive your original bet amount plus your winnings based on the multiplier that was locked in when you placed your bet.
When do I receive my winnings?
Winnings are automatically sent to your connected wallet once the prediction outcome is determined.
Technical Issues
My transaction failed. What should I do?
Common reasons for transaction failures include insufficient funds, wallet connection issues, or network congestion. Check your wallet balance, ensure your wallet is properly connected, and try again.
Why can't I see my balance?
If your balance is not showing, try refreshing the page, disconnecting and reconnecting your wallet, or ensuring your wallet has synced the latest transactions.
What happens if I lose internet connection during a bet?
If you lose connection before approving a transaction, the bet will not be placed. If you lose connection after approving but before confirmation, check your wallet transaction history to see if the transaction was processed.
The platform shows my bet was placed, but I don't see it in "My Bets". What should I do?
First, verify that the transaction was confirmed by checking your wallet transaction history. If confirmed, try refreshing the page or reconnecting your wallet. If the issue persists, contact support.
Predictions and Outcomes
Who determines the outcome of predictions?
Prediction outcomes are determined by platform moderators based on verifiable evidence related to the prediction.
How long do predictions typically last?
Prediction timeframes vary, but are clearly displayed on each betting card as "Ends: [date/time]".
Can I create my own predictions?
Currently, predictions are created by the platform administrators. User-created predictions may be considered for future updates.
What happens if a prediction is ambiguous or cannot be clearly decided?
In rare cases where a prediction outcome cannot be clearly determined, bets may be refunded to participants.
Support and Contact
Where can I get help if I have issues?
For support, you can contact us at support@bettors.io or join our community Discord server.
Where can I suggest new features or predictions?
We welcome suggestions through our Discord community or via email at feedback@bettors.io.
Is there a community for Bettors users?
Yes, we have an active Discord community where users can discuss predictions, share strategies, and get help.