Pitch deck
Please note that this is a draft document and will be updated!
Last updated
Please note that this is a draft document and will be updated!
Last updated
Creating a Gambler-Friendly World of Betting
Decentralized, Transparent, Fair, Personalized
Ushering in a world of betting where gamblers set the rules and the blockchain oversees the rest.
The Betting industry keeps gaining traction while the global economy keeps turning downward.
Statista reports that the global sports betting market grew from $96.84 billion in 2022 to $104.78 billion in 2023 at a compound annual growth rate of 8.2%. The number of users in this market is expected to reach 181.9 million by 2028.
Of this volume, over 35% of all bets are made in cryptocurrencies and this share is growing. SoftSwiss states that in the first half of 2023, the iGaming market showed the total amount of bets has increased by 37% compared to the first half of 2022, and the number of bets showed an even more significant increase of 49%.
Around 35.96% of bets in Q1 of 2022 made in cryptocurrencies amounted to a 44.6% increase from Q1 of 2021. Bets in fiat currencies dipped from 73.7% to 64.04% in 2021 and 2022 respectively.
When comparing cryptocurrency rates in the first half of 2023 and the first half of 2022, the analysis reports a stable increase of 16.5% in terms of volume. It is noteworthy that since the second half of 2022, the number of bets in cryptocurrencies has increased by 83.6%.
Blockchain technology is gaining traction in the sports market and various projects, and professional sports teams are penetrating the decentralized space through partnerships, collaborations, and native product launches. For instance, NBA Top Shot, the NFL’s blockchain-based projects, and others have been widely accepted by fans. Prominent sports clubs like Juventus, Manchester City, Barcelona, PSG, and leagues worldwide use blockchain technology in their digital strategies.
The growth of this trend can be clearly illustrated by the statistics of Azuro Protocol which has exhibited in $1,205,511 in total revenue on bets on the Bookmaker.XYZ frontend at a betting volume of $20,763,738 from 130,653 bets placed by around 5,443 unique users (current data as of Jan ‘24). According to statistics, active growth in the volume of bets started in September 2023. They achieved impressive results in a short period.
Polymarket is another excellent example of popularity and success being achieved by betting platforms. Polymarket alone has a TVL of around $50 million, inflows averaging $72 million and about 350,000 monthly visits (current data as of Jan ‘24). The service’s audience tends to double when Polymarket has announced the feature of placing bets on top news events and disseminating the event through social network channels.
The explosive growth of the betting industry has led to an equally rapid snowballing of associated issues that hamper its development and fuel negative perceptions of it.
Here are some critical issues affecting the online betting industry:
Trust and brand confidence are among the most serious challenges that companies face when competing for new users and customer loyalty. The higher the competition on the market, the more difficult it is to stand out as a trustworthy player with unique propositions.
Technology integration is lagging behind its development; therefore, most startups can’t keep pace with innovation, thus becoming obsolete and unattractive to users.
Unfair business practice of centralized bookmakers is the fundamental problem in the bookmaker market. In pursuit of greater profit, many of them play foul, trying to deceive their users, impose betting limits on successful gamblers, block accounts, and even confiscate user funds.
Centralization. User databases and personal data are often unprotected and vulnerable to hacking.
Blockchain-based betting is a vast and unsaturated market that lacks a sufficiently user-oriented player capable of giving bettors what they want, namely, a chance to place bets on any event of user choice on a transparent, fair, and peer-to-peer basis.
This is where Polyway comes in with the clear intention to create a decentralized ecosystem through the power of WEB3 based on the principles of cooperation, interaction, and fairness.
Our main goal is to create a unique space where users can interact, predict, and bet on events that matter to them, and place bets on a peer-to-peer basis through automated blockchain-based smart contracts that inject unprecedented security, transparency, and decentralization into the betting process.
Our vision is not just to provide a technologically advanced betting platform, but to create a community where every vote matters, and innovation and fairness are fundamental principles.
Polyway ecosystem includes:
Polyway.io - Prediction Market
Yez.bet - Web3 Sports Betting
Yez.casino - Online Casino
Polyway platform is the first one which successfully solves the three main problems of WEB3 prediction markets, namely, Liquidity, Product Depth and UX.
Liquidity
The liquidity problem of other projects on the prediction market was that the events were not backed by sufficient funds. Polyway solved this problem by providing the opportunity for bookmaker users to deposit collateral for each outcome and odds in advance, as well as the ability for other users to contribute liquidity to other users’ outcomes and odds, thereby saturating the liquidity. The sports line and live bets are provided with liquidity from Azuro protocol pools. Currently, it amounts to more than 9mln$ TVL.
Product Depth
The P2P architecture of other WEB 3 gambling projects was insufficient and restricted the product depth affecting the variety of betting events.
Our solution allows any user to act as a bookmaker and create an unlimited number of outcomes and odds. Professional bookmakers and subject-matter experts can use Polyway.io as an effective tool for their profit markup.
As for sports betting, the P2P model failed since amateur bookmakers could not saturate the line with all types of sports matches and diverse outcomes, moreover, P2P architecture did not allow cumulative bets with multiplying odds. Thanks to Azuro protocol integration, the Yez.bet sports line in terms of event number is no different from classic WEB2 sportsbooks.
UX
The UX of WEB3 gambling and prediction betting projects did not meet what the gamblers were accustomed to when using WEB2 platforms, it was difficult for a user to understand the mechanics of P2P betting. Therefore, the scaling potential of a project became greatly restricted and eventually resulted in audience loss and the whole project failure.
Polyway platforms UX meets expectations and requirements of classic betting users. It offers the bets’ & odds’ interface understandable to any bettor. Our solution makes it possible to scale up the project attracting WEB2 betting users and mitigate audience loss risk to almost zero.
Private Betting Events
Polyway platform users have the unique ability to launch private bets on a peer-to-peer basis on any event of their choosing under the conditions they want. The outcome of a private bet to be decided by the oracle or a third party trusted by all involved users.
Users can create private betting events under individual conditions for their friends, peers, or audience as a form of communication and social interaction. Use cases are virtually unlimited ranging from wagers between friends to individual challenges.
The mechanics are focused on providing simplicity and convenience, as users create their events, describe them, add outcomes, and liquidity. They then invite friends to add liquidity to one of the outcomes. The liquidity is distributed depending on the conditions set by the betting creator.
In case of a wager, the power of approving the result is delegated to a trusted third party, therefore, ensuring a fair deal.
Public Betting Events
Polyway also grants users the opportunity to bet with a global audience on any event expanding the horizons for interesting and exciting betting scenarios. The Public Betting feature covers sports, entertainment, technology, cultural phenomena, and even political events on a worldwide community scale.
Event Creation: Any user can create their betting event. This could be anything from predicting who would be the Oscar winners to whether aliens will invade humanity next month. The event creator (bookmaker) specifies the bet description, different outcomes and odds for each outcome encouraging other users to place their bets. The event creator also adds liquidity to ensure payouts to bettors. When creating an event, the bookmaker is free to decide on the probability of each outcome and offer odds.
Betting: Users can view open events and select which one to place their bets on. They can choose one of the available odds offered by the event creator. Users can also add their liquidity to the existing odds or create their own odds on the outcomes offered by the event creator. Event creators (bookmakers) receive an additional 10% of the amount of commissions charged to liquidity providers involved in the events in case of their winning and payed to the platform. This will make the betting line wide and varied.
Voting and Results: Upon an event completion, UMA oracle starts to determine the event outcome.
Integration with the Azuro Protocol opens unlimited opportunities for placing bets on classic sports, matches, basketball tournaments, hockey leagues, boxing games, and others live on the blockchain. All related transactions governed by Web3 principles and audited smart contracts ensure instant payouts. Add to that Web3 games, draws, raffles, lotteries and a universe of entertainment to enjoy!
Yez.bet delivers a betting experience like never before, doing away with such traditional constraints as:
Censorship;
Mandatory registration;
Collection of user data;
Blocking of user accounts;
Discrimination and bias on various principles;
Bet limit reduction.
Azuro's large liquidity pools in USDT (more than 10 million TVL) allow users to place huge bets and receive winnings from smart contracts.
Yez.casino is premier destination for online gambling, featuring a vast array of over 10,000 games including slots, roulette, blackjack, and baccarat. Transparency and fairness ensures a trustworthy environment for all players. All statistics of wins and losses are open. Anyone can see the casino’s profits and get a share of it.
Any PLW token holder, regardless of the held quantity, can receive profits from the all products of ecosystem operation; holders shall just deposit their PLW to a staking contract. 35% of revenue received by polyway.io, yez.bet, yez.casino and all future projects to be distributed by the contract in proportion to all PLW tokens holders who deposited them to staking. Thus, the more tokens are staked by a holder, the larger % of the prize pool is transferred to a holder. Rewards to be credited weekly and to be paid in USDT which can be taken (claimed) at any time.
Rewards from Yez.bet sports line commissions are received once a month and to be distributed to PLW token stakers daily during the month following.
Within integration of the UMA oracle, event outcomes are resolved transparently, ensuring fairness and trust in the platform This is an innovative oracle tool that ensures fair and transparent approvals of bettors and event outcomes.
UMA's Optimistic Oracle allows contracts to quickly request and receive trust data information about the real world. More details how UMA oracle work - https://docs.uma.xyz/protocol-overview/how-does-umas-oracle-work
Users can dispute any outcome in uma oracle by placing a bond, in this case it will be submitted to UMA’s DVM for dispute arbitration and voting process.
The referral program gives the opportunity to earn additional money by inviting new users to the platform.
The referral program:
30% revenue from all invited users.
Upon registration on the platform, a user automatically receives a unique referral link. It is possible to share any event available on the platform; the link will already have a user Referral ID.
Various sources can be used to attract users. The referral program is suitable for:
news websites, channels, public pages, as well as influencers and arbitrators. It will be possible to monetize news traffic.
any newsworthy event throughout the world can be turned into a bet.
websites, movie reviews channels, TV series, it is a good idea to invite users to bet on the development of the story of a new, popular TV series or movie.
subject-matter experts who can allow their audience to create and place bets on the events of interest.
users in terms of creating private events for their friends to wager.
Referral rewards to be distributed daily through a separate smart contract. A Merkle tree is used, therefore securing fairness and transparency of all computations.
Referral rewards on Yez.bet sports line to be credited at the beginning of each month for the previous one.
Polyway is a decentralized ecosystem where all decisions on its development to be made by the DAO community.
Those DAO members who hold at least 100,000 PLW tokens gain the right to suggest their proposals on future platform functionality, and commissions rates. A consensus of participants with a total PLW stake size of 25% of total supply is required to vote on platform commission change.
Commission
Users create their own bets on various events, set odds, and add liquidity. Upon event completion and UMA-oracle approval (or third party-based one for private bets), a smart contract distributes payouts and rewards, and charges a commission to the winner from the winning amount.
The prediction platform'basic commission is 3.6% of the payout amount and is charged to the event winner. For high liquidity events of at least $100,000 and higher, the commission can be reduced to 2.5% or less. The holders of the governance token can decide on the commission rate by voting.
Commission Distribution
Commissions from each event are distributed as rewards to users as follows:
35% of revenue from Polyway.io, Yez.bet, Yez.casino is distributed to all PLW token holders as rewards. To do this, PLW shall be added to the staking contract. DAO stakers can actively participate in platform development, propose new functionality, and vote on the distribution of platform commissions.
10% of commission amount charged to liquidity providers involved in the events in case of their winning to be additionally distributed to event creators (bookmakers).
30% to be distributed to referrers who invite new users to the platform.
10% of all platform profits for the buyback and burning of PLW Tokens.
10% revenues from the Yez.Casino, and the prediction markets of Polyway.io, 30% from the Yez.bet sport line are distributed among NFT holders.
The PLW Token is the Polyway ecosystem’s native asset, which gives its holders access to exclusive benefits, including:
- Distribution of up to 35% of all platforms revenues from betting platform, casino, and prediction markets via a staking contract as rewards.
- Participation in DAO voting on platform traction, empowering holders as stakeholders and decision-makers.
- Extra rewards and bonuses for active participation in platform activities, such as bets on sports, and other events.
- Free bets, token drops, cashback benefits, and much more.
To further upend benefits and value for PLW Token holders over the long term, Polyway applies a deflationary mechanism, which involves the use of 10% of all platform profits for the buyback and burning of PLW Tokens.
The business model applied by Polyway platform relies on the use of USDT on the Polygon network as the main currency for payouts. All smart contracts of the project are configured to work with the mentioned network.
However, it is possible to top up the betting balance with other cryptocurrencies such as USDT TRC-20, Bitcoin, Ethereum, BNB, Ton and so on. Other currency balance is converted by smart contracts at the current exchange rate to USDT Polygon.
Integration with Fireblocks guarantees multi-currency support and the highest level of security available on the market.
In the Q3 of 2024, we start developing WEB3 games such as Dice, Plinko, Crash, CoinFlipp, Miner and others with 98-99% RTP. Third-party WEB3 projects will be allowed to host games as well as integrate our betting lines to their applications under small commissions on profit.
WEB3 games commission amounting to 35% shall be distributed to PLW token holders.
White Label Partnerships and Market Expansion
We are exploring white label partnerships and are seeking to collaborate with companies that share our vision of decentralized and blockchain-based entertainment industry. Our goal is to create a network of partners who will both use our technology and contribute to Polyway development around the world.
The Polyway team intends to organize large-scale public events around the world throughout 2024, attract influencers and media personalities to highlight Polyway’s importance in the world of blockchain entertainment sector. These events will not only strengthen our position in the market, but will also help create an ecosystem where bettors, gamblers, investors, and influencers can find common ground, collaborate, and earn together.
Polyway strives to present an updated roadmap that reflects new ambitious goals and development strategies until 2026.
