bookmaker.XYZ – Decentralized Betting Platform by Azuro Protocol
bookmaker.XYZ is the first betting site powered by Azuro – a novel protocol for decentralized betting.
What is bookmaker.XYZ?
Welcome to the enigma that is bookmaker.XYZ! You might be scratching your head, wondering what it’s all about. Believe it or not, bookmaker.XYZ is NOT a bookmaker. Intrigued yet? You can place your bets and potentially win here, but there’s no “house,” “bookmaker,” or “sportsbook” to wage against you.
Now, let’s throw a curveball: unlike traditional bookmakers where you need to deposit your funds before you can bet, bookmaker.XYZ eliminates the hassle of deposits and withdrawals. When you place a bet, your money is securely locked into blockchain smart contracts with pre-determined outcomes. As soon as the game or event concludes, the contract paves the way for you to redeem your winnings, granted you’ve got the winning ticket.
At bookmaker.xyz, your money stays yours – always. It’s a far cry from bookmakers like bet365, WilliamHill, DraftKings, Stake.com, and their ilk, where you’re required to deposit money to bet. With bookmaker.xyz, your bets are securely stored in blockchain smart contracts, and once the game or event is over, you can claim your winnings, if Lady Luck is on your side.
But how can such a marvel be possible, you ask? The answer lies in the pioneering power of Azuro, a cutting-edge protocol for decentralized betting. Bookmaker.XYZ is the first betting site to be powered by Azuro, redefining the landscape of online betting and taking the gambling world by storm. Essentially, bookmaker.XYZ is the next generation of betting!
Why bookmaker.XYZ?
Built on the Azuro Protocol, bookmaker.XYZ is a revolutionary decentralized betting platform that aspires to become a cross-chain ecosystem. With support for both Polygon (MATIC) and Gnosis Chain (xDAI), the platform offers a powerful user interface for placing bets.
Azuro protocol serves as the foundation for decentralized betting where markets are created, priced, and made liquid. By combining three crypto primitives: Prediction Markets, NFTs, and DAO governance, and introducing a unique Liquidity Pool design called the Liquidity Tree, Azuro Protocol delivers a seamless betting experience.
Apps and frontends built on Azuro Protocol provide users with a viable, trustless, and decentralized alternative to traditional online betting operators.
Bookmaker.XYZ currently supports two blockchains: Polygon Mainnet and Gnosis Chain. Users can choose between these platforms for their transactions:
- Gnosis Chain offers negligible network fees, and xDai is used for transactions, payments, and fees.
- Polygon Mainnet allows users to easily deposit and withdraw USDC directly from exchanges to their Polygon wallet, streamlining the betting process.
A Revolutionary Betting Experience
At bookmaker.XYZ, you never have to worry about your money being withheld or waiting for your winnings. The platform has no access to your funds and never holds any balance on your behalf. You’re always in control of your money and your bets.
Simplicity at Its Finest
Forget about creating accounts, logging in, or submitting documents for verification. All you need is some cryptocurrency and a web3 wallet like Metamask to start betting. It might seem intimidating if you’re new to crypto, but once you dive in, it’s incredibly straightforward!
Exciting Rewards Await You
With weekly promotions at XYZ, you’ll have numerous chances to win free bet NFTs. Bet on various sports and markets, and enjoy a rewarding betting experience!
Current Sports and Markets 🏆
bookmaker.XYZ is constantly adding more sports and markets for your betting pleasure. The current sports available include:
- Football (Soccer)
- Esports
- Dota 2
- CS:GO
- League Of Legends
- Basketball
- Tennis
- MMA
- Boxing
- Ice Hockey
- American Football
Market Structure Breakdown
Independent Oracles provide events, outcomes, and odds. All events are organized as follows: Sport -> League -> Event -> Game -> Market -> Outcome.
On-Chain Bet Representation
Players place bets on event outcomes via frontends. Winners receive funds from liquidity pools as a multiplier of their initial wager on the odds. Lost bets are deposited into 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 facilitating bets.
To place a bet, you call an AzuroLP contract and send tokens from your wallet to the liquidity pool. In return, you’ll receive an NFT as proof of your bet. This NFT can be bought and sold. When the payment information is provided by the Oracle, NFT owners can redeem the original amount of tokens multiplied by the odds.
Canceled Bets
If an event is canceled, the Oracle will mark those conditions as canceled. Players’ initial bets will be refunded and can be redeemed from the liquidity pool on the bookmaker.XYZ app.
How to Place Bets on bookmaker.XYZ?
To place bets on bookmaker.XYZ, you’ll need a Web3-enabled wallet like MetaMask. Connect it to the platform and enjoy a decentralized, permissionless betting experience.
In this example, we use the Gnosis chain and xDAI to place our bet. Firstly, we had to bridge assets to Gnosis from Polygon.
Select the tokens you want to swap. Here we are swapping to DAI from GNS – the native token of the decentralised trading platform for crypto, stocks and forex.
Set your spending cap.
Pay the gas fee.
Once the swap is approved, you can now bridge the assets to the Gnosis chain to get xDAI.
Once again you need to set your spending cap.
Now you can proceed to bridge.
Once your funds are sent, you can verify the transaction on Polyscan – Polygon network’s block explorer.
Now that you have funds to bet with, choose a sport and event you want to bet on.
Choose the amount you want to bet with.
Make sure you’re on the correct blockchain network to execute your on-chain bet.
Approve to enable the smart contracts to interact with your wallet.
Once your bet has been accepted, you can view the information on your dashboard.
You can also verify the transaction on the Gnosis Chain block explorer.
Redeeming your winnings is very simple. Just connect your wallet and claim your winnings.
Using bookmaker.XYZ on Polygon
First, you need to get some USDT. You can deposit assets to swap any asset to USDT in the event that you don’t already have USDT on Polygon.
Pay the gas fee.
Choose a sport/event to bet on.
Set and approve your spending cap.
You can proceed to place your bet.
Pay the gas fee.
Claiming your winnings is simple. Just pay the gas fee for the redemption transaction.
The process is the same whether you’re using Gnosis or Polygon chains for transaction processing.
Azuro Score
Users of bookmaker.XYZ can grow their Azuro Scores by simply betting or providing liquidity which earns them a piece of the critical on-chain infrastructure for betting and gambling that Azuro is.
Using bookmaker.XYZ can potentially line users up for an $AZUR token airdrop.
Understanding Odds
Odds represent the probability of an event’s outcome and are delivered by Oracles/Data Feed Providers on the Azuro Protocol. As betting begins, odds change influenced by the bets placed by users. Bettors can use these fixed odds to calculate their potential winnings.
Oversize Bets and Slippage
Large bets may cause odds to change. Slippage, the difference between quoted and executed odds, is a common occurrence in crypto. On Azuro, you can adjust the “Odds slippage tolerance” in the settings tab of the bet slip to control slippage.
XYZ FreeBet NFT
A Free Bet is an NFT that can be redeemed on bookmaker.XYZ for a completely free bet on any market. In the future, conditions may apply to free bets, limiting them to specific sports, markets, or events. Free bets are collateralized 1:1, allowing you to keep the profit from the wager, but not the wager itself.
