Skip to main content

​
Overview

SX Bet is modelled after a financial exchange, not a traditional sportsbook. The key difference: there is no single counterparty or “house” taking the other side of your bet. Every bet is matched peer-to-peer between two users.

​
Makers and Takers

Every matched bet involves two roles:

Maker

Posts an order to the orderbook. Specifies an outcome, stake, and desired odds. The order sits open until a taker fills it.

Taker

Fills an existing maker order from the book.
The same user can be a maker on some trades and a taker on others — when you post an order, you’re the maker; when you fill an order, you’re the taker.

​
Order lifecycle

Maker posts order
       │
       ▼
Order sits in orderbook (visible to all)
       │
       ▼
Taker fills order (fully or partially)
       │
       ▼
Funds locked in Escrow contract
       │
       ▼
Game plays out
       │
       ▼
Reporter submits result on-chain
       │
       ▼
Escrow pays winner automatically

​
Partial fills

Orders don’t have to be filled in full. A taker can fill any portion of a maker’s available stake. This means:
  • Large maker orders can be filled by multiple takers over time
  • Takers can bet exactly how much they want, regardless of the order size

​
Fees

SX Bet charges 0% trading fees on straight bets. There is a 5% fee on parlay bets.

​
Next

The Orderbook →