Bets with alphabet-encoding
These betting contracts only accept alphabet answers from users. The underlying smart contract converts the answers given by the users from letters into numbers since the smart contract only understands numbers.
Let's take a sports betting event where you are trying to get users to bet on the name of the player that will score the next goal. Since there are too many options, it is probably a better idea to make this betting event alphabet-encoding and let users provide the name of the player they think will score, instead of having to list out all possible options which can be over 20 different options.
Here is a step-by-step guide to creating such a betting event:
Go to your betting contract. You can read the guide on how to deploy your betting contract on the page below:
In your contract's panel, click on the Control Panel button and then on the Update Parameters button. We need to set our betting contract's ticket size to 27 which is the number of letters in the alphabet
The next step is to go back to your betting contract's control panel menu and click on the Create/Update Event button
Fill in the fields in the form with the appropriate value and make sure the Alphabet Encoding field is set to Yes
Validate the form and confirm the transaction
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