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.

N.Y. Assemblyman Introduces ‘Peanut’s Law,’ Says Investigation Request Ignored
N.Y. Assemblyman Introduces ‘Peanut’s Law,’ Says Investigation Request Ignored
‘B.M.F.’ Big Meech Gets Porcelain Veneers After Prison Bid
‘B.M.F.’ Big Meech Gets Porcelain Veneers After Prison Bid
How TV news anchors gear up for election night
How TV news anchors gear up for election night
NBA Reopens Jaxson Hayes Investigation After TMZ Video of 2021 Incident
NBA Reopens Jaxson Hayes Investigation After TMZ Video of 2021 Incident
Nothing Left to Prove: Quincy Jones (1933-2024) | Tributes
Nothing Left to Prove: Quincy Jones (1933-2024) | Tributes
Daryl Dixon – The Book of Carol Ending, Explained
Daryl Dixon – The Book of Carol Ending, Explained
Every TV Series Coming to Major Streaming Services in November 2024
Every TV Series Coming to Major Streaming Services in November 2024
The Unloved, Part 131: Dark City | MZS
The Unloved, Part 131: Dark City | MZS
Kneecap to headline alongside CMAT, English Teacher and more
Kneecap to headline alongside CMAT, English Teacher and more
I was crying at a certain point because I felt that I had hurt him
I was crying at a certain point because I felt that I had hurt him
Gina Zollman To Perform Her Show “ORI gina LS” At The Arthur Newman Theatre, Palm Desert, CA, Sunday 11/24/24
Gina Zollman To Perform Her Show “ORI gina LS” At The Arthur Newman Theatre, Palm Desert, CA, Sunday 11/24/24
Iggy Pop announces “landmark” 2025 London and Glasgow shows
Iggy Pop announces “landmark” 2025 London and Glasgow shows
The 3 Biggest Scandals in Sports History
The 3 Biggest Scandals in Sports History
Kiss918 on the Edge: Pushing the Boundaries of Digital Casino Innovation
Kiss918 on the Edge: Pushing the Boundaries of Digital Casino Innovation
Patriots’ Maye clears concussion protocol, will play vs. Titans
Patriots’ Maye clears concussion protocol, will play vs. Titans
Silver: NBA looking at ‘other formats’ for 2025 ASG
Silver: NBA looking at ‘other formats’ for 2025 ASG
The End Trailer Arrives for 2024’s Most Audacious Film
The End Trailer Arrives for 2024’s Most Audacious Film
Taylor Sheridan is Correct: Critics Have Become Irrelevant
Taylor Sheridan is Correct: Critics Have Become Irrelevant
Silence of the Lambs Influenced Daisy Ridley’s New Movie Magpie
Silence of the Lambs Influenced Daisy Ridley’s New Movie Magpie
Emilia Clarke’s ‘The Night Before Christmas in Wonderland’ Gets Release Date
Emilia Clarke’s ‘The Night Before Christmas in Wonderland’ Gets Release Date
Banana Republic’s Holiday Campaign, Burberry’s Stock Rises
Banana Republic’s Holiday Campaign, Burberry’s Stock Rises
The Best-Dressed Stars at LACMA Art + Film Gala 2024
The Best-Dressed Stars at LACMA Art + Film Gala 2024
Beauty Made In Italy Brings A Big Crowd To The West Hollywood EDITION Hotel
Beauty Made In Italy Brings A Big Crowd To The West Hollywood EDITION Hotel
The Best-Dressed Stars At The 2024 WSJ Innovator Awards
The Best-Dressed Stars At The 2024 WSJ Innovator Awards