bookmaker.XYZ— The First Independent Frontend Connected To Azuro Is Live!
We recently announced the technical launch of the Azuro protocol on Gnosis Chain. This meant the deployment of open-source code which enables Liquidity Providers, Data Providers & Oracles to interact at the protocol level and deliver a constant feed of priced betting markets with liquidity included, on-chain.
But, for the Azuro decentralized ecosystem to actually deliver betting to the end-users — there was something still missing — the frontend operators. These parties actualize the user experience (the environment where bettors bet) and are envisioned to be independent apps, websites, widgets, etc. that utilize Azuro.
Now, we are extremely excited to announce that the first frontend has connected to Azuro protocol!
bookmaker.XYZ is here.
The XYZ domain extension has become a symbol of the new programmable internet: web3, crypto, blockchain. bookmaker.XYZ is the first betting service of its kind that has been built directly into the internet, utilizing the Azuro protocol.
However, bookmaker.XYZ is not a bookmaker, players can place bets on the dApp and can win money, but there is no “house”, “bookmaker” or “sportsbook” which they bet against.
With traditional bookmakers (like Bet365, WilliamHill, Draftkings, Stake.com, and others), players have to deposit money to place bets, whereas with bookmaker.XYZ players never have to make deposits. When a bet is placed, the money or stake is locked into the Azuro smart contracts which have pre-determined outcomes. Once the game/event finishes — the contract allows players to claim their winnings (if they win). bookmaker.XYZ can never withhold money or decide if or when to pay out winnings as it has no access to it. Players do not have to create an account to log in or send documents for verification. Players simply need some cryptocurrency and a web3 wallet like Metamask.
What Happens Now?
Now players can bet with crypto and receive winnings in the same token. As bookmaker.XYZ has launched on Gnosis Chain the first token to be used for betting will be xDAI, a stablecoin pegged to the $USD that allows for low transaction fees on the network.
The first events to feature on bookmaker.XYZ will be Football/Soccer initially just for the top leagues with more expected soon, plus eSports events for CS:GO, League of Legends, and Dota 2.
bookmaker.XYZ offers a range of markets for these events including, Full-Time Result, Double Chance, Total Goals, and Both Teams To Score. These markets are available for each football/soccer event with some markets having multiple outcomes which is a huge step up from the usual Yes/No outcome selection we have seen previously in decentralized betting.
What happens next?
Azuro will continue developing additional features and updating the protocol to bring a more traditional experience to frontends built on Azuro. Some updates expected on the protocol soon are:
One of the most popular types of bets, currently not found in decentralized betting, which allows players to place multiple bets on the same slip to receive a bigger payout.
Bet Cash Outs (The NFT Bets Marketplace)
A cash out is the opportunity to settle a bet before the event has ended. The option can be used to secure a small profit early on, or even to get a portion of the money back if confidence in the bet is lost. On Azuro bets are non-fungible and it will be possible to mint bets as NFTs. Such NFTs will then be tradable on a decentralized marketplace. I.e. a decentralized cash out option.
More events covering more sports, leagues, and games
More markets such as Half Time/Full Time (HT/FT) and Correct Score.
A very popular bet with players which is often overlooked in decentralized betting. Live Betting allows players to place bets after an event has begun and throughout the event.
The team is working on an SDK to make building on Azuro as simple as possible for frontends, so the ecosystem can grow to fulfill its mission as the base layer for decentralized betting.