Divvy.bet is excited to announce the launch of our newest product, The Champions Series. The Champions Series is our take on futures betting with a unique amalgamation of traditional futures betting and cutting-edge web3 technology aligning with our goals of revolutionizing sports betting. The genesis Series will be the 2024 NFL Champions Series.
How does it work?
To participate in the Champions Series, users simply connect their wallet on Divvy.bet and navigate to the Champions Series tab. On the Champions Series page, all 32 NFL teams will be listed for users to select who they think will win the Superbowl. Each team selected will be minted into a Champions Series NFT with a mint fee of 1 SOL per Champion. Users will have the option to mint as many champions as they’d like. The mint will commence on August 30th and end on September 21st at 8PM EST. Mint yours before it’s too late!
At the end of the season, holders of the Superbowl LVIII Champions will be crowned winners and receive a share of the prize pool based on the number of Superbowl Champions they hold.
To kickstart the Champions Series, Divvy.bet will seed the prize pool with 100 SOL with all net mint proceeds to be added directly into the pool. The more NFL Champions minted, the bigger the prizes. Once the minting phase concludes, the Divvy.bet will liquid stake the SOL in order to generate a yield that’ll propel the prize pool’s growth throughout the season. The staking partner will be determined via voting by 2024 NFL Champions Series holders.
The odds for the Champions Series are determined by parimutuel betting. This means that the odds are based on the incoming volume of bets. As more people bet on a team, the odds of that team winning will decrease. The formula used to determine the odds for each Champion is:
Odds = Total Prize Pool ➗ Total Minted for Selected Champion
After the minting period is over, the prize pool and odds will increase throughout the season as we receive yield from staking the SOL.
Our team at Divvy.bet is committed to revolution betting with blockchain technologies and integrating NFTs provides the perfect medium to facilitate futures bets. By minting futures bets into NFTs, we are giving users true ownership and enabling the wager to live outside of the Divvy.bet ecosystem. The Champions Series will be pioneering an entirely new market of tradable wagers where professional sports traders will identify market inefficiencies while speculators and fans can support their favorite teams and score big if their team become the Champions!
Divvy.bet will be taking 20% of the mint proceeds as a fee. The fees will be split accordingly:
5% Divvy Pass Stakers
5% House Pools: Distributed evenly between USDT, USDC, and SOL House Pools
The remaining 80% of mint proceeds will be added directly to the prize pool.
At the heart of the Champions Series lies a captivating artistic endeavor. Our teams’ abstract representation of each franchise’s logo is a testament to the synergy of sports and creativity. This visual opus, meticulously curated through Midjourney AI, stands as an ode to the spirit of each team. The journey to perfection spanned over several weeks of continuous iterations and thousands of generations. Unique artwork awaits every series, embodying the distinctive narrative of each championship.
This is just the beginning…
This foray into the Champions Series serves as a testament to our prowess. Eclipsing conventional boundaries, our goal is to extend this novel approach to an array of leagues – NBA, EPL, Horse Racing, F1, and beyond. Our vision is unwavering – ushering in an era of web3 betting that’s decentralized, permissionless, and non-custodial.
BE THE HOUSE!