Everything you need to know about LunabetsPublished: February 23, 2023
By harnessing the power of DeFi and allowing users to place bets on-chain through a fully automated, trustless and non-custodial platform, Lunabets is revolutionizing the sports betting industry. We’re empowering communities to place bets on events, safe in the knowledge that they’ll be paid out in full and on time, every time.
Casino and Decentralized Sportsbook
Lunabets offers a comprehensive online betting platform that includes both casino gaming and sports betting. The casino section offers a variety of games, including table games, slots, game shows, and live casino gaming. The sports betting section covers a wide range of sports, including esports, rugby, football, cricket, ice hockey, boxing, golf, swimming, tennis, handball, basketball, and volleyball.
Those who refer other users to the brand can earn money through participating in Lunabet's Affiliate Program. Affiliate Links are custom URLs for each existing user to either copy and paste onto social media platforms, or to send directly to their friends or other people online. When clicked upon, these links will ask users to create an account on Lunabets. Once an account has been created the personalized link ensures that the referrer, whose link it was initially, will receive commission for every bet that is placed on the platform by a user who has utilized that link. Due to the decentralized nature of Lunabets, regardless if users win or lose, referrers will still make the same commission. The commission earnt varies and depends on the house edge of the game being played in the casino or the bet waged in the Sportsbook.
In order to further distribute ownership of the platform to users Lunabets enrolls users from day one in a Bet Mining cashback promotion. The house edge represents the average gross profit that book makers can reliably make from a bet. Cashbacks work by rewarding users who bet with a percentage of the house edge on that bet, even if they win or lose. This percentage starts at 10% of the house edge and then increases as the user reaches certain wager milestones. Cashbacks are paid instantly to user wallets in $LFI.
The most novel concept that comes with Lunabets is the idea of contributing to the "House Pool." Traditionally when a bettor places a wager, they are betting against the bookie who provides enough liquidity to payout if the call is good. In doing so, the bookie seizes all the profits that can be made from bad calls.
Rather than forfeiting these revenues to centralized companies, Lunabets, on the other hand, turns the house into a house pool where any user can contribute liquidity. In return, LP’s are rewarded with a share of the profits from the house pools and earn additional yield in $LFI rewards.
In the worst-case scenario, conventional bookmakers frequently encounter liquidity problems and react by limiting withdrawals, which is unfair to consumers who have won the bets. However, safeguarding mechanisms on Lunabets ensure that there is always ample liquidity in the pool's smart contract to payout in all scenarios instantly. This is achieved by ensuring that LPs are discouraged from withdrawing from the house pool, and new LP’s are incentivized to take on added risks.
How to Sign Up with email:
- Load Lunabets official site
- Click on the login button on the top right of the screen
- Choose to sign up with one of the sign up options (metamask, wallet connect or email)
- Depending on the pop up window, complete the requested information/ actions to connect
How to deposit funds:
- Click on your profile in the top right corner
- Click Deposit
- On the pop up window click the token you would like to deposit and follow the instructions
- If you do not have tokens in your wallet to deposit click on the ‘Buy Crypto quick and easy’ on the homepage. This will take you to moonpay where you can buy tokens for Fiat.
- Once you have deposited the tokens on Lunabets from your wallet go to ‘sports book’ or ‘casino’
- Click on the bet you would like to place and enter the amount you would like to deposit on your Bet Slip.
Lunabets uses multiple social platforms to interact with its community.
Discord - https://discord.com/invite/Lunafi/
Telegram - https://t.me/LunaFi_Official
Twitter - https://twitter.com/LunaFi_Project?s=20&t=ZTWU9K6G1SIixfLpdT90TQ/
Linkedin - https://www.linkedin.com/company/lunafi-project/
Lunabets-blog is committed to providing the community with weekly sports roundups and any Lunabet updates. In addition to this, it also strives to keep the community informed on the latest news and developments in the world of Defi and Crypto. https://blog.lunabets.io/
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