Technology platform developer BETR has announced its new blockchain-based BETR Affiliate Program as part of the upgrades to its smart contracts, which will be the first of its kind for the affiliate industry.
The program, which will encourage wider use of the BETR token, will make it possible to tag BETR wallets introduced by affiliates. This means affiliate commissions can now be paid instantly from the layer wallet.
BETR CEO Adriaan Brink celebrated the new program: “Affiliate marketing is vital for any growing business. We need to drive user numbers and we believe the unique BETR Affiliate model will attract affiliates from across the industry and ultimately increase the player base.
“The instant commission pay-out from layer wallets to affiliate wallets is a one of a kind in this industry and a game changer for affiliates”
What makes the model different from other industry programs is the ability to calculate commission from each losing bet. An initial figure of 1.5 per cent commission is in place, which will appear in the affiliates wallet immediately after a punter loses a bet.
For affiliates, this is a more profitable alternative to the classic Gross Gaming Revenue share model as it equates to approximately 20% of Gross Gaming Revenue (GGR) depending on the margin of the bets.
Unlike other affiliate programs in the industry, there will be no negative carry-over. Each wallet that is introduced by an affiliate will be tagged on Ethereum, and cannot be de-tagged or altered in the future.
Optimisation of the new smart contracts has contributed to the lowering of ETH gas costs on transactions by up to a third. It will allow support for virtual sports and other game providers as well as support for rule 4 and dead heats in horse racing.
Social media platform Instagram is currently testing a new feature named Affiliate Shops. It is designed to encourage and