Markets and bets
What you will learn:
- What sports and markets we support on bookmaker.XYZ?
- How bets are recorded on a chain?
- What is the resolution and payout process?
bookmaker.XYZ is the world's first fully decentralized sports betting app powered by Azuro protocol. You can place bets on a variety of sports and betting markets.
We are continually adding more sports and markets, the current sports available are listed below. If you don't see a specific sport, league, or betting market reach out to us on Discord.
- Football (Soccer)
- Dota 2
- League Of Legends
- Ice Hockey
- American Football
All events are structured in the following way: Sport -> League -> Event -> Game -> Market -> Outcome
- 1.Sport, e.g. Football, Esport, etc.
- 2.League, e.g. "International TournamentsUEFA Nations League - Round 1"
- 3.Condition (Event): "Slovenia - Sweden"
- 4.Market: Full-time result
- 5.Outcome: 1
- 6.Odds: 1.55
If you wager $100 on 1.55 odds for Slovenia to win (Outcome 1), you will receive $155 if Slovenia wins. You will lose your initial stake ($100) if Sweden wins (Outcome 2).
Players make bets via frontends on the outcomes of the events. Winning participants get funds from liquidity pools as a multiplier of their initial wager on the odds. Lost bets are deposited into the liquidity pools for future payments.
Oracles create events on the protocol and provide initial odds. Liquidity Providers transfer funds into liquidity pools and receive compensation for the facilitation of bets.
To place a bet, you call an AzuroLP contract and send tokens from your wallet to the liquidity pool. In exchange, you will receive an NFT as evidence of your bet. This NFT could be bought and sold. When the payment information is provided by Oracle, NFT owners will be able to redeem the original quantity of tokens multiplied by the odds.
Canceled Bets: If an event is canceled, Oracle will designate those conditions as canceled. The initial bets made by players will be refunded and can be redeemed from the liquidity pool on the bookmaker.XYZ app.
Nobody can interfere with the betting process because everything is recorded on-chain and overseen by independent Oracles.