About FireBet
Project Overview
FireBet is a web-based betting platform where users can place bets on various groups participating in virtual banks (V-Banks). The platform allows users to view ongoing V-Banks, place bets on groups, and see the results of their bets.
How It Works
Users can log in to the platform and view the ongoing V-Banks. Each V-Bank consists of multiple groups, each led by a student. Users can place bets on these groups based on their performance evaluations.
Once the V-Bank is completed, the results are processed, and the profit or loss for each bet is calculated based on the group's performance and the total bets placed.
Profit and Loss Calculation
The profit or loss for each bet is calculated as follows:
- Total Bets: The total amount of bets placed on all groups in the V-Bank.
- Winning Groups: The groups with the highest grades in the V-Bank.
- Total Bets on Winning Groups: The total amount of bets placed on the winning groups.
- Coefficient: The ratio of the total bets to the total bets on the winning groups.
- Profit/Loss: For winning bets, the profit is calculated as the bet amount multiplied by the coefficient minus the bet amount. For losing bets, the loss is equal to the bet amount.
The formula for calculating the profit or loss is:
Profit/Loss = Bet Amount * (Coefficient - 1)If the bet is on a losing group, the profit/loss is simply the negative of the bet amount.
Technologies Used
- PHP
- MySQL
- HTML
- CSS
- JavaScript