Terms and Conditions
zkBets is a community-operated, experimental platform that enables participants to place crypto-based bets on virtual races within the zkRace ecosystem.
By participating, you confirm the following:
- zkBets is not developed, audited, or endorsed by the zkRace team.
- The platform is non-commercial and operates without profit motive.
- The house takes no cut, and no individual receives financial gain.
- You are not accessing this platform from a location where such activities are prohibited.
- All participation is experimental, recreational, and entirely at your own risk.
- Treasury funds are used solely to support community activities, rewards, or platform development.
- Use of this platform implies full understanding and acceptance of these terms.
By using this platform you are asserting that you meet the eligibility criteria and agree to these terms.
How Payouts Work
At the conclusion of each race, the pot is allocated as follows:
- The total pot is calculated as the sum of the initial ante, sponsor contributions, and all participant bets.
- 50% of the pot is divided proportionately between participants that picked the horse in 1st place.
- 25% of the pot is divided proportionately between participants that picked the horse in 2nd place.
- 10% of the pot is divided proportionately between participants that picked the horse in 3rd place.
- 7.5% of the pot is allocated to the treasury to fund future races and community development.
- 7.5% of the pot is alloocated as Community Rewards and apportioned equally across all horses in the race.
- Any unallocated amounts (e.g. if no-one picks the winner) are allocated back into the treasury to fund future races and community development.
Payout rates will reviewed periodically to balance platform longevity and community benefit. If you have questions about payouts or want to propose changes to the model, join the conversation on Discord. We're building this together.