Market types
There are many markets which are offered by sportsbooks and exchanges. Sportsbooks tend to offer more exotic markets while exchanges keep it simple so the markets are liquid and efficient.
The main market types which we plan to offer at Purebet are:
Full time result: specific for soccer, this is a 3-way (home, draw, away) market which has back and lay sides. This is who will be winning at the end of 90 minutes. In knockout competitions, this does NOT include extra time, penalties, or aggregate score. The home team of the event is listed first. If the event is at a neutral venue, the convention will follow other bookmakers or the event organisers and no notice may be given.
Moneyline: this is for American sports where an extra period is played if the scores are tied at the end of normal time. This is a 2-way market (home/away) with only a back side. This is who wins the game. If it ends a draw/tie after the full regulation time and additional periods (including the shootout in NHL), the market is void. The home team of the event is listed FIRST. If the event is at a neutral venue, the convention will follow other bookmakers or the event organisers and no notice may be given. NOTE: This is the opposite listing order used by most bookmakers.
Over/Under: this is for all sports and is the total number of points scored in total by both teams combined during the game. In soccer, like full time result, it only includes 90 minutes. In American sports is the whole game including any extra periods if the score is tied at the end of regulation time.
Handicap: this is for all sports and is the winning of the match once the handicap is applied. The handicap is applied once, so if a game ends 25-12 to the home team, and the home team was on -20 handicap, the market score would be 5-12 so the away selection would be the winner. If the home handicap was -5, the market score would be 20-12 so the home selection would be the winner. If the scores are tied ONCE THE HANDICAP HAS BEEN APPLIED, the market is void and all bets refunded (e.g. if the same game had a home handicap of -13, the market score would be 12-12). Again, in soccer, only the 90 minute score is used.
Other markets we might offer include:
Election winner: defined in the rules of the market but usually the declared winner, no funny business with coups or anything.
Tournament outright betting: the winner of the tournament after the final event as defined by the tournament rules.
Crypto/NFT price over/under: defined in the rules of the market but usually if the price is over or under the set price in the defined currency at the specified end point. A TWAP/VWAP might be used for illiquid assets.
Crypto/NFT price band betting: defined in the rules of the market but usually within which of the defined price bands is the price of the asset in the defined currency at the specified end point. A TWAP/VWAP might be used for illiquid assets.
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