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Sports Betting (Soon)

Azuro is an infrastructure/liquidity layer for on-chain betting. It utilizes a new Liquidity Pool design, the Liquidity Tree, which creates and maintains market liquidity.

Automated Market Maker

An automated market maker is a type of decentralized exchange that uses algorithms to determine the price of assets based on supply and demand. Azuro utilises AMM mechanic inside its betting engine to adjust odds and provide users with correct values.

Bet

At its core, sports betting is putting money behind an outcome of your choice and getting paid if that outcome is achieved.

Combo Bet

Combo bet is a type of bet where a user can combine outcomes from different Conditions and place them as a single bet. This bet wins if each of the selected outcomes in the set wins, with the payout coefficient being the product of the selected Odds taking into account the applied Margin.

Betting Engines

A collective term for contracts that encompass the logic of creating Conditions, accepting bets, computing payouts for bets, and calculating Affiliate rewards.

Bettor

Bettors can access the markets via websites, apps or widgets (known as "Frontends") that connect to Azuro to deliver betting services to end users.

Condition

Each Market presented on a Pool is called a Condition.

ERC20

ERC20 tokens are fungible tokens on Ethereum. Azuro supports all standard ERC20 implementations.

Factory

A smart contract that deploys Pools and Betting Engine smart contracts.

Freebet (Free Bet)

A bet of a specified value for which a betting app offers to pay the stake.

Game

An entity within Pool's contracts that provides information about a game or event. The Game includes information about when the match will start, as well as an IPFS hash containing information about the event. Based on the Game, an unlimited number of Conditions can be created.

Liquidity

Digital assets that are stored in an Azuro pool contract, and are able to be traded against by traders.

Liquidity Provider (LP)

Someone who deposits ERC20 tokens into a given liquidity pool. Liquidity providers take on price risk and are compensated with betting margin.

Margin

The margin (also referred to as "spread" or "vig/vigorish") is the difference between the probability of a betting outcome happening and the odds that bettors can place bets with (for this outcome). In traditional online betting, it is also referred to as the "bookmakers advantage" or "house edge".
On Azuro protocol, margin is one of the immutable properties of a Condition, set at the time of its creation.

Market

A sports betting market is a specific category of bet on a certain fixture or event.

Odds

The ratio of winnings to the stake and bettor also get his wager returned. So wagering 1 at 1:5 pays out 6 (5 + 1).

Outcome (Selection)

The simplest type of bet in a betting app’s office, the winning of which is determined by the result of a sporting event - the victory of team(player) 1 or team 2(player), or a draw (if possible).

Pool

A system of smart contracts that forms a unified betting platform. Anyone can deploy their own Pool on the network using the Factory.