# Welcome

**Welcome** Welcome to MAGABET, a revolutionary decentralized, crypto-based betting platform for political event predictions:

* **Decentralized:** all contracts are verified on the blockchain, all outcomes are provably fair and on-chain verified by oracles, there are no sign-ups to or deposits into a centralized entity.
* **Crypto betting:** all wagers are placed in cryptocurrencies directly through Web3 wallets;
* **Platform:** a general betting platform for predicting the outcomes of various political events, such as debates, elections, and policy decisions.&#x20;

MAGABET is a decentralized, token-based betting platform that enables users to participate in predicting the outcomes of political events. The platform's initial focus is on the upcoming presidential debate between Donald Trump and Joe Biden, scheduled for 9:00 PM EST on 6/27/24.

MAGABET aims to be the most transparent and engaging platform for political betting, harnessing the wisdom of the crowd and the power of decentralized technologies.&#x20;

These documentations will go into detail on how the platform works from a **technical** perspective. The odds calculation, reward distribution, and community governance mechanisms will also be explained in depth.

&#x20;To understand how the platform works from a **practical** perspective, read through the documentation.
