BetNation – A Decentralized Bookmaking Platform

The process of staking money over one of the possible outcomes of an event and earning rewards with respect to the provided odds is called bookmaking. Bookmaking is carried out between bookmakers & stakers. The conventional bookmaking which is carried out over the digital platform lacks necessary levels of trust, transparency and speed especially for a platform that deals with factual data and exchange of money. This paper proposes a transparent sports betting system (which we call BetNation) capable of establishing a sense of trust between the users along with the delivery of high performance. The proposed system aims at creating a decentralized exchange of facts over every event & seamless delivery of funds. Blockchain technology and Smart contracts are used as the backbone for the given system.