UBET: Introducing a new sports betting market
What is decentralized blockchain sports betting? A DEFI sportsbook is a market where people can trade contracts that pay based on the outcomes of future sports events. This may sound very much like sports betting. However, the difference between DEFI sports betting and traditional sports betting comes from the style of operations. In traditional sports betting, the fixed odds are set by the bookmakers. Because the house takes the opposite side of the bets, the bookmakers control the market odds in order to minimize their risk of losing money. In contrast, the sports prediction market is a free market,...
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