Market-Determined Odds

Built on peer-to-peer blockchain technology and powered by people, FORE Predict is a predictions platform that doesn’t determine market odds – you do. Markets on FORE Predict are created as pools (as an ERC721 NFT contract), where players take a position on one or more outcomes by adding funds to the pool. As players add funds to varying outcomes of the market, the odds continue to change based on player participation.

Rather than taking a position against the house (who predetermines the odds), on FORE Predict there is no house: you’re taking a position against other players. FORE Predict is simply open-source software built to facilitate community creation, participation, and validation of peer-to-peer markets on the blockchain. As such, FORE Predict is not a prediction market itself: the creation of individual prediction markets on FORE Predict is entirely independent from FORE.

Upon the closure of the market (at a date predetermined by the market creator), the final odds are determined, and the players who take the correct position on a market outcome are awarded a share of the total pool size (less 5% maintenance fees) proportional to their participation. As a result, FORE markets are always sufficiently capitalized, enabling payouts when due.

By embracing market inefficiencies and actually using incentives and inefficiencies, we let the market determine the correct odds payouts. FORE markets transparently and fairly distribute payouts based on a participant’s holdings in the correct side of a market, allowing users to take advantage of market inefficiencies without compromising fairness or transparency.

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