🛑Be Aware: Dynamic Odds

Every new bet changes the odds for all the previous bettors. This exposes the pool to wild odds swings shortly before the event start.

Bettors are not given odds when their bet is made. Odds are based exclusively on the ratio of money bet on each team at the start of the event.

Unlike traditional sportsbook style betting, users are only betting on a team. The odds of a bet are unknown until the event starts. When the event starts, betting is closed and the user is assigned odds. All users who bet on the same team will get the same odds. If you are going to place a bet, you see this screen. Price impact is only meant to show what the pool distribution will change to as a result of your bet being placed. This will only be your final odds if nobody else bets (i.e., your bet is the last bet in the pool before the event starts). THESE ODDS ARE NOT LOCKED IN.

It is possible for Price Impact to change significantly before you bet

Bets are only displayed on the front end when a transaction is confirmed on the blockchain, and may not be instantly reflected. This could cause the numbers displayed on the frontend to be inaccurate. Fortunately, with parimutuel betting, you are not exposed to direct slippage in this case as your odds just depend on the ratio of pools at the event start, not at the time you bet.

The odds may see significant movement around the start time of the event

Because the odds are not locked in until the event start, the odds may shift significantly immediately before the pool locks. While it is only profitable for an arbitrageur to trade the pool closer to the market odds, there is no guarantee the net flow immediately before settlement makes odds closer to the market.