A bet (batch-ephemeral token) is a summon for a redeemable option (the coupon) on an event that is either predetermined (unbeknownst to at least one party) or undetermined to both parties. In this case, bets are proxies for the statistical variance of the proofs they forego, and serve to hedge the yield. Bets themselves provide UUe's hypercurrency; being synonymous with coin insertion for (automated) jukebox activation and selection.

The bet is formulated in polynomial time as the ratio of (a tab's) cells to cents (bet = cells / cents).

Bets are hedged against the cap with coupons priced at fair market value (hedging is done by placing a bet).

See also

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