Hi, This is Team Visionary from India.
I am very enthusiastic about Blockchain and Web3 space. I often go to various web3 hackathons and explore different blockchains out there. I recently found Hive Blockchain and found it very developer-friendly compared to previous chains I have worked on. The integration of Hive Blockchain with any web2 platform is very easy. Also, the Hive Keychain extension is very user-friendly and its documentation is also very nicely written.
Now let's talk about the project that I have built. I am presenting Dbets: A sports betting dApp built on Hive Blockchain.
Problem Statement
I’m targeting the entertainment industry, specifically the gaming industry. I have observed that the students in my college place bets on which cricket team will win during the IPL season and I’d like to gamify the whole experience. By leveraging the Hive blockchain technology, I’m creating a dApp that will make betting on any sport fun and secure, all the while keeping the identities hidden. Please note that gambling is illegal in India but there’s still a lot of ambiguity which includes a close group of friends betting against each other. Also, the dApp will target users from foreign countries.
Proposed Solution
Dbets has a simple UI unlike other betting apps out there. If you check out the gambling applications currently running in India or anywhere in the world, you’ll find that they use over complicated betting methods making the UX (user experience) terrible. My UI makes betting on any match a walk in the park. A user who has never bet on anything will also find everything simple to understand and all the information related to the bet will be just a click away.
The concept is quite straightforward -
Two teams are having a match, and there can be 4 possible outcomes - Team A wins or Team B wins or Match gets cancelled or the Match ends up in a draw.
Based on the outcome of the match, the money pool is distributed. Those who bet on the losing side get nothing, while those who win will get the amount bet by the losing side. The algorithm behind the calculations is quite complex but the user doesn’t have to get into all that.
If the match ends up in a draw or if it gets cancelled due to any reason, each player gets back the money they had bet.
After researching a lot on Hive blockchain and the freedom it provides to code, I was totally assured that the dApp I wanted to create can be easily deployed on Hive. I wanted the identities of those who are betting on a match to be hidden and that part gets covered by the blockchain technology.
dApp Screenshots
Login Screen
Event Creation Screen
Home Screen (List of Events)
Admin dashboard for Event Organizer
Revenue Model
The revenue model is pretty straightforward and I’ll try to explain it using a very simple example.
Let’s say we have a match between Team A and Team B. Two players are betting on that match. The players are Player A and Player B.
Player A is betting on Team A to win. While Player B is betting on Team B to win.
Player A bets $100 while Player B also bets $100.
Assuming that I have set my revenue at 20%, then this is what will happen -
If Team A wins, Player B will lose the whole $100. Player A will get back the $100 that he had bet plus $80 from the losing side (Player B’s betting amount).
The remaining $20 will come to me (organizer) as I had set 20% as the share. So basically, 20% of the losing side’s total amount becomes my revenue.
Anyone can create sports events including ourselves on our platform by paying event creation fees where other people will bet.
Obviously, my algorithm works for much more complex cases but this example should be sufficient to understand how my dApp will generate revenue.
Technical Approach
- Hive Blockchain for login and transactions
- ReactJS for the front end
- Node.js, Express, and MongoDB for the backend
- JWT for data protection
Impact
Gambling and sports betting is a multi-billion dollar industry as can be seen from this data: https://www.worldatlas.com/society/countries-that-gamble-the-most.html
But there aren’t many web3 platforms that are facilitating this, particularly on Hive. So I have built this simple dApp that can be used to bet on sports.
Hive blockchain currently has 1 gambling dApp as per my research and that too doesn’t have any sports betting. My dApp will be the first sports betting dApp on the Hive chain.
Future Prospects
I am thinking of building a referral system on dbets. A user can refer this dApp to other people. The referrer will get some cut when the user signs up and does his first transaction on this dApp. It will be for lifetime.
Important Links
Project link - https://dbets.in/
Video demonstration link - 
Github Repo Link - https://github.com/xpresso123/Dbets