Announcing Voltz Bet for the 2024 American Elections

I'm excited to introduce Voltz Bet, a betting platform for the 2024 American Elections. This is a pari-mutuel betting system, where the prize is determined based on the total amount wagered by all participants. The payout is calculated mathematically, rewarding participants based on their share of the pool in a transparent way.

How It Works

At Voltz Bet, the outcome of your bet is determined not only by whether your candidate wins but also by how much you and others have wagered. This means that the more strategic your bet is in relation to the pool size, the greater your chance of walking away with a prize.
You can simulate in advance how much your bet would return at that moment, based on the bets already placed, by using the betting calculator.
The payment of bets is processed through the Lightning Network, and the infrastructure is provided by Voltz Wallet. Learn more at: https://lnvoltz.xyz.

Prize Calculation Explained

Once you place your bet, here’s how your prize will be calculated if your candidate wins:
Key Variables:
  • amount: How much you bet.
  • candidate: The candidate you bet on (Trump or Kamala).
  • total_trump: Total amount bet on Trump.
  • total_kamala: Total amount bet on Kamala.
Without Bonus (Standard Prize)
If your candidate wins, your prize is calculated as follows:
  • prizeWithoutBonus = ((opponent_total * 0.85) / total_for_your_candidate) * amount + (amount * 0.85)
Where:
  • opponent_total: Total amount wagered on the losing candidate.
  • The 0.85 multiplier deducts a 15% fee.
With Bonus (Double Prize)
If you qualify for a bonus, the calculation is:
  • prizeWithBonus = ((opponent_total * 0.85 * 2) / total_for_your_candidate) * amount + (amount * 0.85)

Example of Prize Calculation:

Let’s say:
  • You bet 1,000 satoshis on Trump.
  • Total pool for Trump is 10,000 satoshis.
  • Total pool for Kamala (losing candidate) is 5,000 satoshis.
Without Bonus:
  1. Your share in Trump’s pool = 1,000 / 10,000 = 10%
  2. Your part from Kamala’s pool = 5,000 * 0.85 * 0.1 = 425 satoshis
  3. Recovering 85% of your wager = 1,000 * 0.85 = 850 satoshis
  4. Total received: 425 + 850 = 1,275 satoshis
With Bonus:
  1. Your share from Kamala’s pool = 5,000 * 0.85 * 2 * 0.1 = 850 satoshis
  2. Recovering 85% of your wager = 1,000 * 0.85 = 850 satoshis
  3. Total received with bonus: 850 + 850 = 1,700 satoshis

Conclusion

  • Without the bonus, your total prize is 1,275 satoshis.
  • With the bonus, your prize increases to 1,700 satoshis.

Important: The house always wins. A small fee of 15% is deducted from all winnings, and participation is entirely at your own risk. See the terms on https://bet.lnvoltz.com/terms.

Note: I am an amateur developer with limited front-end knowledge, but I am doing my best to deliver a good UX and UI. Currently working on optimizing the mobile experience.
I really wanted to bet on the 2016 election trump was a 80 to 1 shot
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fucking slave shitcoiner.
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Fuck u Dick coin
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@justin_shocknet your new friend has showed up here, lol.
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Ah the logo thief and shitcoiner!
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Why the email address?
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Triible also has this specific bet, as well as other non-political bets ;)
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Thanks @south_korea_ln! And Triible has no fees on US Presidential Betting. Here's the link: https://alpha.triible.com/event/a0ae0a6a79e8fd87122e3282a75f94be
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And the same team from Triible is launching Predyx - a real Prediction Market on LN with tons of elections bets. Predyx will go live with beta next weekend.
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You plan to expand this beyond presidential election? This is an obvious setup for betting sports.
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15 percent!
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TOTALLY BULLSHIT CRAP! Get the fuck out with this bullshit! REAL bitcoiners do not give a shit about this bullshit.
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What you resist, persists
-a guy on a bus
......and Ron Dunn
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The house just wants the money
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Once you have a decent number of users, I suggest changing your fee from a percentage to a flat fee.
A flat fee incentivizes additional betting, because the odds improve for users with the volume of bets.
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why do you encourage such bullshit ?
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Because I think gambling will be a major bitcoin on-ramp and I want to see it developed.
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People aren't going to magically change to conform with all of your bizarre tastes. Everything people are voluntarily using fiat for will need to be replaced with corresponding bitcoin options.
One thing many people want to be able to do with their money, but are prohibited from, is gambling. It's a huge opportunity to bring people into bitcoin, regardless of whether or not you like it.
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fine... more sats for me.
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win-win
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💯
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