UBET: Introducing a new sports betting market

UBET: Introducing a new sports betting market

What is a decentralized sports prediction market?

A sports prediction market 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 a sports prediction market and 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, in a sense that the odds are determined by algorithms and the protocol based on the market demands.

Here is where decentralization comes in. There is no entity that controls the betting odds, betting size, or even bans you when you are sharp. Once the prediction market event is set with a smart contract, it runs on its own by some predefined protocol.

This is what UBet is all about. Ubet is a decentralized sports prediction market where bettors can freely bet without any restrictions and liquidity providers can earn passive yield.

How does UBet work?

UBet’s autonomous protocol provides betting odds and enables a permissionless and highly liquid market. There are two types of users in UBet, bettors and liquidity providers (LPs).

Bettors can simply trade their bets, where you can continuously buy and sell your bets at market odds. The transaction fee, which is also known as vig in traditional sports betting, is fixed at 2.5% before the game starts. Indeed, UBet encourages arbitrageurs to seek profit between the UBet exchange and any other betting platform to arrive at the best market price.

Liquidity providers (LPs) are the ones who fund a liquidity pool and facilitate trading. LPs deposit their capital in USDC to earn passive yields from transaction fees that bettors paid.

Overall, this creates a nice ecosystem between bettors and LPs, and benefits both!

We are super excited to share the decentralized sports prediction market and UBet with you. Of course, your feedback is always appreciated as we improve upon it. We will share more interesting content with sports betting, prediction markets, decentralized finance (DeFi), and, most importantly, UBet’s progress.

Website: http://ubetsports.io/

Twitter: https://twitter.com/UBet__Sports

Discord: https://discord.gg/tNhGnzaQfy

LinkedIn: https://www.linkedin.com/company/ubetsports/

You can view the original article HERE.

Porsha Williams Sued by Ex Simon Guobadia Over Erectile Dysfunction Posts
Porsha Williams Sued by Ex Simon Guobadia Over Erectile Dysfunction Posts
Jason Kelce Autograph Seeker Goes Berserk On Ex-NFLer, ‘You P***y, F*** You!’
Jason Kelce Autograph Seeker Goes Berserk On Ex-NFLer, ‘You P***y, F*** You!’
Diddy Claims Prosecutors Showed Judge Edited Cassie Video to Make Him Look Dangerous
Diddy Claims Prosecutors Showed Judge Edited Cassie Video to Make Him Look Dangerous
Kacey Musgraves, Lainey Wilson, Luke Bryan and more step out in style to celebrate country music’s biggest night
Kacey Musgraves, Lainey Wilson, Luke Bryan and more step out in style to celebrate country music’s biggest night
Cher Says Director Peter Bogdanovich Was an “A**Hole” on the Set of ‘Mask’
Cher Says Director Peter Bogdanovich Was an “A**Hole” on the Set of ‘Mask’
Billy Bob Thornton Thought ‘Bad Santa’ Would End His Career
Billy Bob Thornton Thought ‘Bad Santa’ Would End His Career
Black Harvest Film Festival 2024: Disco Afrika, It Was All a Dream, Dreams Like Paper Boats | Festivals & Awards
Black Harvest Film Festival 2024: Disco Afrika, It Was All a Dream, Dreams Like Paper Boats | Festivals & Awards
Dawsons Creek Had a Perfect Spin-Off, But No One Watched It
Dawsons Creek Had a Perfect Spin-Off, But No One Watched It
Banks announces fifth album ‘Off With Her Head’ with impassioned new single ‘Best Friends’
Banks announces fifth album ‘Off With Her Head’ with impassioned new single ‘Best Friends’
Jelly Roll on his battle with food addiction: “It’s like an avalanche”
Jelly Roll on his battle with food addiction: “It’s like an avalanche”
Here’s every song on the ‘Cruel Intentions’ TV series soundtrack
Here’s every song on the ‘Cruel Intentions’ TV series soundtrack
Zayn Reunites With One Direction at Liam Payne’s Painful Funeral
Zayn Reunites With One Direction at Liam Payne’s Painful Funeral
President Biden welcomes 2024 NBA champion Boston Celtics to White House
President Biden welcomes 2024 NBA champion Boston Celtics to White House
Report: Raiders owner Davis agrees to sell 15% of team
Report: Raiders owner Davis agrees to sell 15% of team
Fun and Frugal DIY Christmas Ornaments
Fun and Frugal DIY Christmas Ornaments
Draymond fires back at ‘janky’ Jenkins, Edey over foul
Draymond fires back at ‘janky’ Jenkins, Edey over foul
10 TV Characters Who’d Be Thanksgiving Dinner Nightmares (And 5 Who’d Be a Dream)
10 TV Characters Who’d Be Thanksgiving Dinner Nightmares (And 5 Who’d Be a Dream)
‘Based on a True Story’ Season 2 Has a Matt Problem
‘Based on a True Story’ Season 2 Has a Matt Problem
‘Gladiator 2’ Director Explains Why the Twin Emperors Are “So F**King Crazy”
‘Gladiator 2’ Director Explains Why the Twin Emperors Are “So F**King Crazy”
Chicago PD Season 12 Episode 8 Review: Torres’ Guilt & Reid’s Mysterious Agenda Result in Tense Midseason Finale!
Chicago PD Season 12 Episode 8 Review: Torres’ Guilt & Reid’s Mysterious Agenda Result in Tense Midseason Finale!
Alex Consani Wants An Aritzia Birkin For Christmas
Alex Consani Wants An Aritzia Birkin For Christmas
Hearst Layoffs, Selena Gomez Covers Perfect Magazine, & More!
Hearst Layoffs, Selena Gomez Covers Perfect Magazine, & More!
The Best Fashion and Grooming Men’s Gifts
The Best Fashion and Grooming Men’s Gifts
Miley Cyrus For Harper’s Bazaar, Louis Vuitton Taps Callum Turner, & More!
Miley Cyrus For Harper’s Bazaar, Louis Vuitton Taps Callum Turner, & More!