BETR smart contract upgrade features new affiliate program

Blockchain-based BETR has backed up the recent release of its sportsbook app – BETROdds – by launching a new version of its smart contract featuring BETR Affiliates.

This new development, designed to encourage wider use of the BETR token, has made it possible to tag BETR wallets introduced by affiliates.

It enables affiliate commissions to be paid instantly from the layer wallet, at a rate initially set to 1.5%. This equates to approximately 20% of Gross Gaming Revenue (GGR) depending on the margin of the bets. 

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 as with traditional affiliate programs. Each wallet introduced by an affiliate is tagged on Ethereum and cannot be de-tagged or changed in the future. 

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.”

As well as the added affiliate logic, the optimisation of the new smart contracts has contributed to the lowering of ETH gas costs on transactions by up to a third. It also allows support for virtual sports and other game providers, as well as support for rule 4 and dead heats in horseracing.