Copy of OpenBook Whitepaper
  • Introduction
    • Welcome to OpenBook
  • Market Description
    • Market Participants
    • Market Size
  • Background
    • Introduction
    • Centralized Models
    • Decentralized Models
  • Description of the Problem
    • Existing Problems
  • Our Solution
    • Introduction
    • Problems and Solutions
    • Our New Model
    • Advantages for Bettors
    • Advantages for Bookies
  • Project Architecture
    • Introuduction
    • Protocol Structure
  • Betting Side
    • Introduction
    • Making a Bet
    • Types of Bets
  • Bookie Side
    • Introduction
    • Becoming a Bookie
    • Benefits of Being a Bookie
  • Backend Implementaion
    • Liquidity
    • Market
    • Bet Contract
  • Frontend Implementation
    • Introduction
    • Navigation Layouts
    • Betting Page
    • Account Page
    • Bookie Page
  • Business Model
    • Businese Model
  • Legal Consideration
    • Legal Considerations
  • Roadmap
    • Introduction
    • Three Phase Rollout
  • OpenBook DAO
    • OpenBook DAO
  • Allocation of funds
    • Allocation of funds
  • Team and Project History
    • Team and Project History
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  1. Bookie Side

Introduction

PreviousTypes of BetsNextBecoming a Bookie

Last updated 3 years ago

In OpenBook, for the yang of the Bettor, there is the yin of the Bookie. The metaphor is a bit cheesy, but it fits for purposes of explanation quite nicely.

Bookies are the agents of the second side of OpenBook. While a Bettor places bets, Bookies instead stake—lock away—their DAI in the OpenBook liquidity pool which funds Bettor winnings and Bookie profits alike. The following sections explore the details of this process so that one can understand the intricacies and overall simplicity of being an OpenBook Bookie.