A brief overview

In order to provide liquidity to the exchange, and provide a service which will push on-chain sports betting forward many years, we aim to aggregate all offerings by all on-chain sports betting platforms in one place.

The only rules for valid protocols are:

  • the information about the odds and liquidity must be accessible through direct on-chain calls, an SDK, or an API

  • the odds taken at the time of transaction confirmation must be the same as the odds at bet settlement (e.g. no parimutuel pools betting)

  • bets can be placed without KYC and winning accounts/addresses are never banned.

Since interesting sports betting protocols are spread over many blockchains, and the technology to offer this service purely through on-chain cross-chain messaging does not exist yet, this service is currently not fully decentralised or fully trustless (however incentives are such that we can only lose if we break the implied trust).

We analyse the odds and liquidity offered on each originating protocol and process the data off-chain. The odds and liquidity is then formed into an orderbook format and combined with the offerings of other protocols and existing user orders placed directly on Purebet. The combination of these orderbooks is displayed to users and any bet that is placed at Purebet is automatically placed at the best odds available for that stake. If the liquidity is from another protocol, we automatically place a bet at the originating protocol on the user's behalf. Once that on-chain bet is confirmed, we then match the user's bet on Purebet. The user's bet at Purebet and our order acting as the counterparty are locked in the on-chain program until the event is over like any other maker-taker pair. For this reason, a break in the implied trust (i.e. we do not complete the on-chain aggregation and place a bet at the originating protocol) means that we have naked outcome exposure to the bet and would lose money paying out winning bets.

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