Introduction

This document introduces OpenBook, a decentralized sportsbook where users can participate as both Bettor, Bookie or a Liquidity Provider. Our innovative model allows OpenBook to facilitate a wider variety of sports and individual games, higher limits, lower fees, and a smoother betting experience for bettors while introducing a new way to play by contributing to the betting pool.

OpenBook and the OpenBook sportsbook protocol offer solutions to numerous challenges facing the sports betting industry and its participants today. Its model allows a set of people called provider to set odds and have built in risk parameters. The competition created this way incentivizes best odds and user get low vigs and high limit as a single liquidity is shared for all odds created by the person. And on the other side LPs get stable returns uncorrelated to the bigger market.