You Just Win

We aim to produce a decentralised sports betting market that runs on the Ethereum blockchain and is secured by Chainlink.

Comment 5

Inspiration

Online sports betting is a $60bn dollar industry. This is a large market, and it has the potential to be even larger when one takes into account that sports betting is illegal under oppresive legislations in countries such as Cuba, China, North Korea, Somalia, Iran and the United States.

Established players extract a significant amount of rent. Last year gambling executives scooped up millions of dollars in bonuses and capital gains.

Just as Uniswap and other DEXs are disrupting the permissioned, centralised exchange model, gambling is ripe to be disrupted by open, decentralised exchanges.

What it does

We built a liquidity sensitive logarithmic market scoring rule AMM to create a betting market for football games. There are numerous advantages to the LS-LSMR compared to the constant product AMM used by uniswap for short duration betting outcomes. The outcomes of the games are added via Chainlink oracles to the contract, thus paying out

What's next for You Just Win

More winning.

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Updates

posted an update —

We looked at a number of iterations for how to implement the external adapters. Initially we looked at using chainlink to make an API call from a sports database, however we then thought about what would happen if the owner of the API decided to maliciously supply incorrect data in order to get a large reward from the market. We therefore incorporated multiple APIs to validate the outcome in our external adapter, before feeding this information to the chainlink node. In doing this, we promote the full decentralisation of market resolution.

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