Problems and Solutions

Commision Fees

High commission fees result from a surplus of two things: financial overhead and greed. OpenBook takes care to alleviate the former of these ailments by structuring our operational model to remove as many superfluous revenue drains as possible through deployment on the Polygon blockchain and careful design of the project to require low human intervention in the future. The latter of the aforementioned concerns is simple to solve when bringing value to your users is of utmost importance, thus OpenBook takes a humble 2% vig that goes towards growing the profits of the Bookies, not the house.

Dynamic Shift

While individual automated money markets for each bet allow for flexible generation of bet types and odds, this model severely restricts the limits on who can bet how much on which games. The OpenBook sportsbook protocol uses a singular liquidity pool to serve all bets. This emulates the style of centralized sports books where Bettors place bets against the “house” rather than against the other people betting on that same game.

User Privacy

By facilitating bets with DAI transferred from self-custodial MetaMask wallets, OpenBook is entirely blind to Bettor identities. OpenBook retains the wallet addresses of Bookies to ensure they are paid their share of profits and can retrieve their provision at any time, but no identity or personal information is ever collected by OpenBook.

Continious Integration

The founders are acutely aware of the steep learning curve for online and physical sports betting. They also note the hyper-modern design choices of DeFi services and other Web3 sites. These are two extremes that OpenBook marries with a sleek, modern UI that doesn’t overdo it with mathematical betting technicalities or techno-imagery and oversimplification.