The rules of the road for the okbet private beta.
Last updated: May 26, 2026
These Beta Terms of Service (“Beta Terms”) are a legal agreement between you and okbet labs, s.a. (“okbet,” “we,” “us,” or “our”), a corporation (sociedad anónima) organized under the laws of the Republic of Panama. They govern your access to and use of the okbet private beta, including the okbet website at okehbet.com, the okbet web application at app.okehbet.com, related smart contracts, and any associated services (collectively, the “Service”).
By joining the okbet waitlist, connecting a wallet, creating or joining a bet, or otherwise using the Service, you agree to be bound by these Beta Terms. If you do not agree, do not use the Service.
okbet is a private group challenge product that lets friend groups create, stake, and settle bets among themselves using USDC on the Base network. Outcomes are resolved by a vote among bet participants — not by okbet, not by an oracle, and not by any third-party administrator.
okbet is nota sportsbook, casino, exchange, prediction market, or public wagering marketplace. There is no “house.” okbet does not set odds, take positions, or act as a counterparty to any bet. okbet does not match strangers or maintain a public directory of bets.
To use the Service, you must:
The Service is not available to persons resident in or located in:
U.S. territories — including Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa, and the Northern Mariana Islands — are not U.S. states and are treated as eligible jurisdictions where the Service is otherwise permitted. okbet enforces these restrictions by region and may add or remove jurisdictions at any time. It is your responsibility to confirm that your use of the Service complies with your local laws.
okbet runs on Base mainnet and settles in real USDC. Stakes are real and non-reversible: when you join a bet you deposit real funds into an escrow smart contract, and you can lose your stake.
okbet is in open beta: the core flow is live, the contracts have completed internal peer review with an external audit in progress, and the product is under active development. Only stake what you can afford to lose.
okbet is in open beta and available to the public where it is permitted. We may grant, limit, or revoke access at our sole discretion, for any reason or no reason, including by region and eligibility. Access is not guaranteed and may change.
We may change or migrate off-chain data (such as cached display data, profiles, and waitlist entries) as we develop the product. On-chain records and funds are governed by the smart contracts and cannot be wiped, reset, or reversed by okbet.
The Service is under active development. You should expect bugs, incomplete features, downtime, breaking changes, and behavior that differs from documentation or announced plans. We will try to communicate significant changes, but we do not guarantee advance notice during beta.
okbet runs on Base mainnet today. If we make material changes to these terms or to how the Service works, we will post the updated terms and, where appropriate, ask you to accept them. okbet runs on Base mainnet only and will never silently switch your wallet to a different network.
When you join the okbet waitlist, you provide your email address and optionally your intended group size. We use this information to:
We will only email you from @okehbet.com addresses. We do not sell, rent, or share your email address with third parties for marketing purposes. You may unsubscribe from non-transactional emails at any time.
okbet is non-custodial. You connect your own wallet (via WalletConnect or a supported provider) to interact with the Service. okbet does not have access to your private keys, seed phrases, or wallet credentials. okbet cannot freeze, seize, or move your funds.
You are solely responsible for the security of your wallet and credentials. If you lose access to your wallet, okbet cannot recover your funds or account.
Your connected wallet address serves as your identity on the Service. You are responsible for all activity conducted through your connected wallet, whether or not you authorized it.
Because okbet does not control your wallet, we cannot reset passwords, recover accounts, or reverse transactions. If your wallet is compromised, your only recourse is through the wallet provider and the blockchain itself.
Any eligible user may create a bet by defining a proposition, a stake amount, a maximum number of participants, and a lock time. The creator shares a private link with their group. Friends join by selecting a side (YES or NO) and depositing their stake into the bet's smart contract.
After the lock time and the bet's resolution period, participants vote on the outcome: YES, NO, or VOID. The outcome is determined by majority vote among participants. If the bet resolves with a winning side, the losing side's stakes are distributed to the winners (less any applicable fees). If the vote results in VOID or fails to reach resolution, stakes are refunded.
okbet does not vote, adjudicate, or override outcomes. The people in the bet settle the bet.
Blockchain transactions are irreversible. Once a stake is deposited into a bet contract, it can only be released according to the smart contract's logic (payout to winners, or refund on void/expiry). okbet cannot manually reverse, adjust, or override any on-chain transaction.
Creating, joining, voting, and voiding a bet are free. okbet charges a settlement fee only when a bet resolves with a winner.
The settlement fee is 3% of the winners' profit, capped at 1.5% of the total pool. It is deducted from the winners' payout — never from a participant's stake — and is shown before anyone joins. No fee applies to expired, voided, or refunded bets. Network gas fees and any wallet-provider fees are separate from okbet.
Network gas fees charged by the Base network and any fees charged by your wallet provider are separate from okbet and are not controlled by us.
You agree not to use the Service to:
We reserve the right to suspend or terminate your access if we reasonably believe you have engaged in any prohibited use.
The Service relies on smart contracts deployed on Base mainnet. You acknowledge and accept the following risks:
The Service, including its design, code, branding, trademarks, text, graphics, and user interface, is owned by okbet labs, s.a. and is protected by intellectual property laws. You may not copy, modify, distribute, sell, or create derivative works based on any part of the Service without our prior written permission.
When you create a bet, you provide a proposition (the text of the bet). You retain ownership of any original content you create, but you grant okbet a non-exclusive, worldwide, royalty-free license to use, display, and distribute that content in connection with operating and promoting the Service.
If you provide feedback, suggestions, or ideas about the Service, you agree that okbet may use them freely without any obligation to you.
During the beta, we collect:
We do not collect your name, physical address, government ID, or financial account information (other than your public wallet address). We do not have access to your private keys or seed phrases.
We use your data to operate, improve, and communicate about the Service. We do not sell your personal data. We may share data with service providers who help us operate the Service (e.g., hosting, email delivery), subject to confidentiality obligations.
Transactions on the Base network (including testnet) are publicly visible. okbet cannot delete, modify, or hide on-chain data. Your wallet address and transaction history on the blockchain are public by nature.
For full details, see our Privacy Policy.
The Service is provided “as is” and “as available,” without warranties of any kind, whether express, implied, statutory, or otherwise.
To the fullest extent permitted by law, okbet disclaims all warranties, including but not limited to:
You use the Service at your own risk.
okbet does not guarantee any particular outcome from any bet, vote, or transaction.
okbet is not a financial institution, money transmitter, broker, dealer, exchange, custodian, or fiduciary. Nothing in the Service constitutes financial, legal, tax, or investment advice.
To the fullest extent permitted by law, okbet, its officers, directors, employees, agents, and affiliates will not be liable to you for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits, revenue, data, or goodwill, arising out of or related to your use of (or inability to use) the Service, regardless of the theory of liability.
To the fullest extent permitted by law, okbet's total aggregate liability to you for all claims arising out of or related to these Beta Terms or the Service is limited to one hundred U.S. dollars ($100.00).
This limitation applies regardless of whether the damages arise from breach of contract, tort (including negligence), strict liability, or any other legal theory, and regardless of whether okbet was advised of the possibility of such damages.
Some jurisdictions do not allow the exclusion or limitation of certain damages. In those jurisdictions, okbet's liability is limited to the greatest extent permitted by law.
You agree to indemnify, defend, and hold harmless okbet, its officers, directors, employees, agents, and affiliates from and against any claims, liabilities, damages, losses, costs, and expenses (including reasonable attorneys' fees) arising out of or related to:
Before initiating any formal dispute resolution, you agree to contact us at hello@okehbet.com and attempt to resolve the dispute informally for at least 30 days.
If we cannot resolve the dispute informally, you and okbet agree that any dispute, claim, or controversy arising out of or relating to these Beta Terms or the Service will be resolved by binding individual arbitration under the applicable rules of a recognized arbitral institution, and not in court. The arbitration will be conducted in English, and the seat of arbitration will be Panama City, Republic of Panama.
You and okbet agree that any dispute resolution will be conducted on an individual basis and not as a class action, collective action, or representative action.
You waive any right to participate in a class action lawsuit or class-wide arbitration against okbet.
Either party may bring a claim in small claims court if it qualifies. Either party may seek injunctive or equitable relief in any court of competent jurisdiction to prevent the actual or threatened infringement, misappropriation, or violation of intellectual property rights.
These Beta Terms are governed by and construed in accordance with the laws of the Republic of Panama, without regard to its conflict of law provisions. To the extent that litigation is permitted under these Beta Terms, you consent to the exclusive jurisdiction of the competent courts of the Republic of Panama.
You may stop using the Service at any time. If you have active bets, your stakes remain governed by the smart contract's logic until the bet resolves, expires, or is voided. Disconnecting your wallet or deleting your email from our communications does not release stakes locked in active bet contracts.
We may suspend or terminate your access to the Service at any time, for any reason or no reason, with or without notice. This includes but is not limited to cases where we reasonably believe you have violated these Beta Terms, engaged in prohibited uses, or where continued access would create legal or operational risk for okbet.
Upon termination, your right to access the Service ends immediately. Sections of these Beta Terms that by their nature should survive termination (including but not limited to Sections 8, 11, 12, 13, 14, 15, and 17) will survive.
These Beta Terms, together with any Privacy Policy and other policies referenced herein, constitute the entire agreement between you and okbet regarding the Service and supersede all prior agreements and understandings.
If any provision of these Beta Terms is found to be unenforceable, the remaining provisions will continue in full force and effect.
Our failure to enforce any right or provision of these Beta Terms does not constitute a waiver of that right or provision.
You may not assign your rights or obligations under these Beta Terms without our prior written consent. okbet may assign its rights and obligations without restriction.
We may update these Beta Terms at any time. If we make material changes, we will notify you by email (at the address you provided) or by posting a prominent notice on the Service. Your continued use of the Service after the effective date of any changes constitutes acceptance of the updated terms. If you do not agree to the updated terms, you must stop using the Service.
okbet is not liable for any failure or delay in performing its obligations due to events beyond its reasonable control, including but not limited to natural disasters, war, terrorism, pandemics, labor disputes, government actions, network failures, blockchain congestion, or smart contract exploits.
If you have questions about these Beta Terms, contact us:
okbet labs, s.a.
Republic of Panama