Buddybet’s Guide To Social Betting

If you’re looking for a one-stop-shop to social betting, you’ve come to the right place.

Humans are inherently social beings. We don’t just love being around people – we need it. The fact that solitary confinement is seen as one of the worst punishments that can be dealt out shows just how important human interaction is – regardless of whether it’s with friends or strangers.

Buddybet takes the foundation of this human connection and combines it with a light-hearted social betting platform, with plenty of other fun functionality thrown in to boot.

But while we brought social betting into the modern age, we certainly didn’t invent the concept. So, let’s take a look at what social betting is, how it works, and how Buddybet’s innovating this ancient tradition.

What is social betting?

The concept of social betting has been around for thousands of years. At its most basic, social betting refers to a bet made directly between two people – one who thinks something will happen and one who thinks it won’t.

A social bet is sometimes called a handshake bet because people shake on it as a symbol that they’ll honour the bet. Buddybet was created to bring this noble and historic tradition into the modern age, allowing users to place bets with others and then hold them accountable, regardless of physical distance. We also added a bunch of features to emphasise the social element of social betting – but more on those later.

Who am I betting against?

When you place a bet with Buddybet, you’re betting against other users. These can be your friends, family, or co-worker, or they can be a complete stranger – but they’re a real, physical person.

Unlike other betting platforms where you’re essentially betting against an algorithm, Buddybet is all about peer-to-peer betting. This not only opens the gates for plenty of fun interactions – both on and off the app – it also makes winning all the sweeter, as you’re besting another person and not a faceless computer.

What if no one accepts my bet?

 

Because you’re betting against real people, if no one accepts your bet then it can’t be made. You can still put it out and the app, and people can interact with it like a social media platform though, and in a way, no one daring to accept your bet is almost the best victory of all…ok that’s a stretch. But with a growing user-base and the ability to browse bets by category, you’re bound to find someone up for the challenge.

What sort of bets can I make?

You can create any bet you’d like on Buddybet, provided it doesn’t breach our standards around hate speech, harassment, or other antisocial content.

There’s an important distinction to make here and that’s between verifiable and non-verifiable bets. Verifiable bets are ones that can be be validated by our team. In other words, bets where the results are made publicly available. This includes things like sporting margins, the winner of a reality show, or movie announcements. Non-verifiable bets are unable to be independently verified – like which friend will be last to arrive at dinner, or whether or not your partner will look at their phone when you’re telling them something heartfelt.

Buddybet lets you place both types of bets, however you’re only able to make a cash bet if it’s verifiable. If it can’t be independently verified, it will have to be a cashless handshake bet – although you can still boast about it online and pin the results to the top of your profile for ultimate bragging rights.

How else can I interact with a bet?

What’s social betting without social interactions. Our platform lets you comment on or react to other people’s bets, cast your vote on the bet and see how other Buddybetters think the bet’s going to go, or send a DM and strike up a chat with other likeminded users. You can also build you profile out to give visitors a sense of you and your interests, as well as a trophy wall of the bets you’re most proud of. Betting’s just the tip of the iceberg with Buddybet.

 

Learn more about how Buddybet’s open betting system allows you to put the social in social betting, even if you’re the first of your friends to join.

 

Author: Allan Peterson