SportKings Protocol
Last updated
Last updated
At SportKings, we believe that sports prediction gaming should be an enjoyable and exciting experience for all players, regardless of their level of expertise. That's why we've designed our protocol to offer Predict-To-Earn contests where players can put their skills and knowledge to the test without having to worry about losing money.
With our contests, players can participate in virtual tournaments and compete against other players from all over the world. These tournaments are based on real sports events, and players earn points based on their predictions of the outcome of these events with real odds. Like a virtual bookie.
Decentralization of the protocol and contests will greatly enrich the sports prediction experience of players by making it incredibly immersive, fun, and trustworthy when it comes to payouts and a level playing field for all players whether smart or not.
Therefore, as pioneers of integrating decentralization with sports betting and fantasy gaming, our core mission is to offer gamers a first-class sports prediction game experience where they can put their skills to maximum use.
That is why SportKings is the first protocol of its kind to take sports prediction gaming to the next level where only players’ skills and knowledge of sports, statistics and probability theory will give them a chance to win big prizes.
SportKings is a product of the finest and highest level of gaming innovation. However, we made it a priority to ensure easy navigability and simplified gameplay during development. As such, SportKings has been optimized for gamers to find it easy to play.
There is a variety of contests in the SportKings Lobby where players can join in. Football (soccer) competitions are available right now with plans to integrate Esports and American sports already in the pipeline as outlined in our roadmap.
Smart contracts cannot communicate with the real world outside of the blockchain. That significantly undermines cross-chain compatibility. However, Oracle adequately solves this problem by connecting Smart Contracts with other off-chain services. This is necessary so that we can settlement the results of the matches.
SportKings Smart contracts are at the heart of the protocol. That is because they help to enforce integrity and automated execution of the rules of the protocol. For instance, the prize pool is locked in a smart contract.
As such, once the final tournament is over, winners are automatically prized without the need for any individual to issue payouts. The same applies to SportKings’ revenue. Smart contracts automatically pay out the rake fees to the protocol without any individual intervention.
Therefore, smart contracts play a crucial role in making the SportKings protocol operationally efficient and helping us to maintain the highest integrity standards as a decentralized entity.
When players make predictions using points, an Oracle must settle the score. That is whether the prediction is a losing or a winning one. For this purpose, Oracle charges a small fee for each settlement. To make it easier for the players, we have calculated these fees in the rake so that the player does not pay a settlement fee with every prediction made.
Once a sports prediction gaming players pay entry fees, the collected rake from the tournaments goes into a secure treasury contract. It is from this point that the rake is apportioned into two main portions;
50% of the collected rake goes to operating costs and oracle settlement
50% goes to the SKNG holders.
We have amply clarified that in SportKings, players do not wager against the house. As such, profits are not drawn from the margin on bets. Rather, SportKings’ revenue is generated from the entry fees that players pay to participate in buy-in tournaments.
It is from these rakes collected during entry into buy-in contests that SKNG SportKings are rewarded. Hence, SportKings SKNG holders passively receive their rewards from each player who pays to participate in SportKings tournaments.