Players wager against the house (liquidity provided by BetSwirl or their partners) in randomized games of chance, such as coin tosses or dice rolls.

Betswirl is a non-custodial betting platform built on Polygon, BNB Chain, and Avalanche. BetSwirl was co-founded by Romuald Hog and Nato, and was launched in March 2022.

The BetSwirl team own and govern the protocol. They and BETS holders currently receive all fees paid by players (revenue).

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# BetSwirl Earnings Methodology

## 1. Overview

Betswirl earnings represent the net profit generated by the protocol's prediction markets and betting games after accounting for expenses. The metric is calculated as revenue minus expenses, where revenue comes from house edge allocations distributed from betting outcomes, and expenses consist of token incentives paid to users. For Betswirl, expenses are currently zero, making earnings equivalent to total revenue. This metric answers the business question: "What is Betswirl's daily net profit from its gambling and prediction market operations across all supported blockchain networks?"

## 2. Data sources

- **Revenue allocation events**: Parsed `Bank_AllocateHouseEdgeAmount_event` logs from Betswirl smart contracts across multiple versions (v1-v4) on BSC, Polygon, Avalanche, and Arbitrum networks
- **Russian Roulette events**: Parsed `RussianRoulette_AllocateHouseEdgeAmount_event` logs from Betswirl v1 contracts on Arbitrum, Avalanche, BSC, and Polygon
- **Token price feeds**: End-of-day token price feeds for USD conversion of revenue amounts
- **Token metadata**: Token symbol and decimal information for proper amount calculations
- **Wrapped token mappings**: Address mappings for native tokens (ETH→WETH, AVAX→WAVAX, BNB→WBNB, MATIC→WMATIC) to enable price lookups
- **Cross-chain token references**: BETS token address mapping (Polygon address used for Arbitrum due to liquidity constraints)

## 3. Step-by-step calculation

### Component A: Standard game revenue extraction
- **Purpose**: Captures revenue from Betswirl's standard betting games across all versions and chains
- **Logic**: Extracts daily revenue allocation events from `Bank_AllocateHouseEdgeAmount_event` logs across BSC, Polygon, Avalanche, and Arbitrum networks. Processes multiple contract versions (v1 through v4) with varying allocation recipient structures. For v1 contracts, sums `dividend_amount`, `treasury_amount`, `team_amount`, and `referral_amount`. For v2 contracts, adds `partner_amount` to the sum. For v3/v4 contracts, includes `bank_amount` and `partner_amount` while excluding referral amounts. Aggregates these amounts daily by chain, token, and contract version.
- **Key fields**: `block_timestamp` for daily aggregation, `token_address` for the betting token, allocation amount fields varying by version, `chain` identifier for multi-chain support

### Component B: Russian roulette game revenue extraction  
- **Purpose**: Captures revenue specifically from Betswirl's Russian Roulette game variant
- **Logic**: Extracts daily revenue allocation events from `RussianRoulette_AllocateHouseEdgeAmount_event` logs on Arbitrum, Avalanche, BSC, and Polygon networks for v1 contracts only. Sums `dividend_amount`, `treasury_amount`, and `team_amount` as protocol revenue, while treating `initiator_amount` separately as supply-side fees paid to game initiators. Aggregates amounts daily by chain and token.
- **Key fields**: `block_timestamp` for daily aggregation, `token_address` for the betting token, `dividend_amount`, `treasury_amount`, `team_amount` for revenue calculation, `initiator_amount` for supply-side fee tracking

### Component C: Token address normalization
- **Purpose**: Standardizes token addresses for consistent price lookup and cross-chain handling
- **Logic**: Converts null token addresses (representing native network tokens) to their wrapped equivalents for price feed compatibility. Maps ETH to WETH on Arbitrum, AVAX to WAVAX on Avalanche, BNB to WBNB on BSC, and MATIC to WMATIC on Polygon. For BETS token on Arbitrum, uses the Polygon BETS token address for price calculations due to higher liquidity on Polygon. Maintains original chain information for final metric attribution while using normalized addresses for USD conversion.
- **Key fields**: `token_address` transformations, `chain` for network-specific mapping logic, `real_chain` to preserve original chain attribution

### Component C: Revenue aggregation and processing
- **Purpose**: Combines all revenue sources and applies necessary transformations for final calculation
- **Logic**: Unions revenue data from standard games and Russian Roulette games, creating a comprehensive daily revenue dataset. Applies token decimal correction using metadata to ensure amounts are properly scaled. Converts all token amounts to USD using end-of-day price feeds matched by normalized token addresses. Aggregates revenue by timestamp, chain, product identifier, and applies zero-filling for dates with no activity. Populates additional project metadata for final metric schema compliance.
- **Key fields**: `revenue` amounts post-conversion, `timestamp` for daily boundaries, `chain_id` for final chain attribution, `product_id` for segmentation

### Component D: Expenses calculation
- **Purpose**: Calculates total protocol expenses to subtract from revenue
- **Logic**: For Betswirl, expenses consist entirely of token incentives paid to users. However, the protocol currently does not distribute token incentives, so token incentives are hardcoded to zero across all dates, chains, and products. Creates a zero-filled expense dataset that matches the structure and time series of the revenue data to enable proper earnings calculation.
- **Key fields**: `token_incentives` (always 0), `expenses` (equals token incentives), matching dimensional fields from revenue data

### Final aggregation
- **Combining components**: Revenue and expenses are processed separately then combined using the earnings calculation macro, which performs a simple subtraction of total expenses from total revenue for each day, chain, and product combination
- **Currency conversion**: All revenue amounts are converted to USD using end-of-day token prices matched by normalized token addresses, ensuring consistent currency denomination across multi-token and multi-chain revenue streams
- **Time aggregation**: Daily boundaries are established using timestamp truncation to day level, with all blockchain events aggregated within each 24-hour period in UTC time
- **Final calculation**: Earnings equals total revenue minus total expenses per day. Since Betswirl expenses are zero, daily earnings equal daily revenue from house edge allocations across all betting games and supported blockchain networks

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Net profit (also profits, net income, profitability) — revenue remaining after subtracting expenses.

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