🎰Markets and Bets
JuicyBet 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.
Sports
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, contact us on Discord.
How are markets structured?
Independent Oracles provide events, their outcomes, and odds.
All events are structured in the following way: Sport -> League -> Event -> Game -> Market -> Outcome
Sport, e.g., Football, Esports, etc.
League, e.g., "International TournamentsUEFA Nations League - Round 1"
Condition (Event): "Slovenia - Sweden"
Market: Full-time result
Outcome: 1
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).
How are bets represented on the chain?
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 through the "Azuro Liquidity Tree" design and receive compensation for facilitating bets.
To place a bet, 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 Oracle provides the necessary information, NFT owners can redeem the original quantity of tokens multiplied by the odds (if their bet is won).
Can bets be rejected or canceled?
Betting on JuicyBet is permissionless. Events (games), markets (the bets that are possible, connected to a particular event), odds and resolving market outcomes are settled at the protocol level (Azuro Protocol). JuicyBet has no control over this, so individual bets can never be rejected or canceled. In the rare and unlikely events that some events/markets may be canceled - bets are voided, affecting everyone who has participated in this market on JuicyBet or any other apps using Azuro Protocol. The initial bets made can be refunded/redeemed from the liquidity pool on the JuicyBet app.
Examples where such occurrences may be possible, are if the event was canceled, the market data was wrong (e.g., the event started earlier than the on-chain data for this event suggests, thus allowing bettors to take bets after the event is finished), or the results are disputed or unreliable.
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