What is Sports Betting? An Aver Explainer

What is Sports Betting?

You might have heard the term “prediction markets”, where participants wager money on the outcome of events. This can be a wager on anything from an economic statistic, election results, to even the weather.

What are the Benefits of Sports Betting?

Sports make for a great prediction market outcome because of the exciting and chaotic nature of live sports, the diversity and volume of sporting events around the world, and the reliable start time, statistics, and reporting to base wager resolution on.

Who Should Bet on Sports?

Anyone can bet on sports! You don’t need to be an athlete, expert, or even watch sports at all. On Aver, all you need is a Solana wallet with some USDC and SOL to get started.

How do I Choose What to Bet On?

Every week, upcoming events are posted on the Aver twitter account (@averexchange). If you have a favourite sport, we recommend you start there, and then explore other markets listed on the exchange. Or you can start with whatever the biggest upcoming event is, which will likely have the most on-chain liquidity.

What are Some Tips for New Bettors?

If you’re new to sports betting, there is plenty of information out there, including Aver’s documentation. The best way to get up to speed quickly is by joining our Discord community. You’re welcome to share your questions or concerns, and Aver community members will be there to guide you along the way.

What are Some Common Mistakes?

It’s okay to make mistakes! Here are some common ones that we’ve seen:

  • Not understanding the terms for market resolution. For example, some football markets can be based on Full Time (FT) score and exclude AET / penalties. Please see the market terms section under the trading modal for details.
  • Not being aware of the difference between unmatched (open) and matched orders. Wagers are only placed or executed when they are matched with other participants.
  • Not getting your orders in on time (please follow our twitter account for friendly reminders).

Can I Bet on Something Other Than Sports?

At the beginning of this article we mentioned “prediction markets”. Prediction markets are the more ‘academic’ cousin of sports betting. Instead of wagering on the outcome of a sporting event, participants wager on the outcome of events such as an economic statistic release or an election result.

How Can I Get Started?

Go to app.aver.exchange to place your first wager today!

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Aver

Aver

1.2K Followers

The first fully decentralized sports betting and prediction exchange live on ◎ Solana.