Title: Blockchain platforms for decentralised peer-to-peer betting

Authors: Faryad Bigdeli; Saviz Changizi; Masoud Rayat Zadeh; Charlotte Aung; Ittipat Pojpring; Xiaojun Luo

Addresses: Department of Accounting, Finance and Economics, Bristol Business School, University of the West of England, Bristol, BS1 3FE, UK ' Department of Accounting, Finance and Economics, Bristol Business School, University of the West of England, Bristol, BS1 3FE, UK ' Department of Accounting, Finance and Economics, Bristol Business School, University of the West of England, Bristol, BS1 3FE, UK ' Department of Accounting, Finance and Economics, Bristol Business School, University of the West of England, Bristol, BS1 3FE, UK ' Department of Accounting, Finance and Economics, Bristol Business School, University of the West of England, Bristol, BS1 3FE, UK ' Department of Accounting, Finance and Economics, Bristol Business School, University of the West of England, Bristol, BS1 3FE, UK

Abstract: Traditional and centralised online betting platforms are generally a black box and lack transparency, trust, and inclusivity. Despite theoretical advancements and the transformative potential of blockchain technology in the betting industry, the feasibility and efficiency of using blockchain and smart contracts in real-world betting scenarios have not been explored in existing empirical studies. This study develops a novel peer-to-peer (P2P) betting platform using blockchain technology and smart contracts. The opportunities and challenges of using smart contracts in random outcome games and sports match predictions are investigated. Through deploying our proposed P2P betting platform on the Ethereum blockchain, we showcased its opportunities, including reducing labour costs and fraud manipulations; ensuring security, fairness, and inclusivity; and enhancing flexibility, adaptability, and customisation in different betting scenarios. Our study illuminates a path forward for the evolution of the betting industry and can act as a catalyst for future exploration and development in this field.

Keywords: P2P; peer-to-peer; blockchain; betting system; smart contract; decentralised platform.

DOI: 10.1504/IJBC.2025.149937

International Journal of Blockchains and Cryptocurrencies, 2025 Vol.6 No.3/4, pp.286 - 323

Received: 14 Nov 2024
Accepted: 28 Jun 2025
Published online: 18 Nov 2025 *

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