A localized electronic betting system includes: a smart contract generation module and a results engine located in a same low-latency environment as the smart contract generation module, wherein: the smart contract generation module is configured to receive a first betting statement from a first user device located within the low-latency environment, to generate a smart contract based on the first betting statement, the smart contract including a criterion to be met and configured to self-execute in response to a determination that the criterion is met, and to transmit the generated smart contract to a local blockchain node located within the low-latency environment; the results engine is configured, based on content received from a results source, to determine information indicative of whether the criterion in the first betting statement is met; and the localized betting system is configured to transmit a signal to the local blockchain node for storage on a local blockchain ledger or a local copy of a blockchain ledger, the signal containing the information indicative of whether the criterion is met. An equivalent method is also provided.