#### What is DAOBet? DAOBet (BET) is a [cryptocurrency](https://www.coinbase.com/learn/crypto-basics/what-is-cryptocurrency) that aims to redefine the sports betting industry by introducing a community-based model. Unlike traditional sports betting, which is often an individual activity, DAOBet seeks to create a more inclusive and accessible platform. It is designed to be accessible to anyone, with no minimum investment or lock-up period. DAOBet operates a betting fund, with 50% of the profits from this fund being [distributed](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/glossary/distributed) back to token holders through token buybacks, which can potentially increase the token's price. The remaining 50% of the profits are reinvested back into the fund. DAOBet also offers a wide range of casino games and sports betting options, providing a comprehensive gaming platform for its users. #### How does DAOBet work? DAOBet operates by utilizing [blockchain](https://www.coinbase.com/learn/crypto-basics/what-is-a-blockchain) technology to facilitate sports betting and casino gaming. The platform aims to create a community of sports bettors and cryptocurrency enthusiasts from around the world. DAOBet's betting fund is managed by professional sports bettors, who provide expert analysis before any bets are placed. The platform also features a rewards system, where users can earn rewards every time they play in the casino, sportsbook, or any social game. Additionally, DAOBet offers a Surprise Box feature, where users can win a random prize multiple times per day. #### What are the potential use cases for DAOBet? DAOBet seeks to provide a platform for sports betting and casino gaming that is accessible to all, regardless of their investment capacity. This makes it a potential choice for individuals who are interested in sports betting or casino gaming but may not have large amounts of capital to invest. Additionally, the platform's rewards system and Surprise Box feature can potentially enhance user engagement and retention. DAOBet also aims to foster a sense of community among its users, with a chatroom for sports and gambling talk. This community aspect could potentially make DAOBet an attractive option for individuals seeking a more social betting or gaming experience. #### What is the history of DAOBet? DAOBet was established with the goal of transforming the sports betting industry by introducing a community-based model. The platform was designed to be accessible to anyone, with no minimum investment or lock-up period. DAOBet has also entered into a partnership agreement with sportsadvisors.com, the world's largest sports handicapping conglomerate. This partnership allows professional sports bettors to manage DAOBet's betting fund and provide expert analysis to the community. Over time, DAOBet has expanded its offerings to include a wide range of casino games and sports betting options, as well as a comprehensive rewards system.