BETR has announced the creation of its BETR Affiliate programme based on the blockchain, which it says is the first of its kind in the industry.
A new version of BETR’s smart contracts has been released, making significant improvements and additions to the system – a decentralised sports betting marketplace using the BETR token.
One of the most noteworthy enhancements is the introduction of BETR Affiliates. The core logic added to the smart contract has made it possible to tag BETR wallets introduced by affiliates, which enables affiliate commissions to be paid instantly from the layer wallet.
This affiliate model is different from others in the industry in that the commission is calculated from every losing bet – so when a bettor loses a bet, a percentage of the bettor’s losses are automatically paid by the smart contract from the layer to the affiliate’s wallet.
BETR layers’ affiliate commission is initially set to 1.5 per cent, which equates to approximately 20% of Gross Gaming Revenue (GGR) depending on the margin of the bets. This is a more profitable model than the classic GGR rev share affiliate model.
There is no negative exposure to winning bets and, more significantly, the layer pay-out is instantaneous on settlement of a bet rather than at month end. There is also no negative carry-over.
BETR CEO Adriaan Brink said, “Affiliate marketing is vital for any growing business. We need to drive user numbers and we believe the unique BETR Affiliate model will attract affiliates from across the industry and ultimately increase the player base.
“The instant commission pay-out from layer wallets to affiliate wallets is a one of a kind in this industry and a game changer for affiliates.”
