📑Market Method

Syrax platform market method

When it comes to prediction markets there are multiple market method with their own unique characteristics. In order to build our MVP we decided to start with the Parimutuel market method which is one of the simpler and more transparent methods for users to understand.

It's a market method where all contracts of a particular type are pooled together. The house or platform does not participate in the market but takes a percentage as a fee. After the event, the remaining pool is divided among the contributors who chose the winning outcome. The payout odds are determined by the total amount contract on each outcome, not set in advance. This method's key feature is that contributors compete against each other, not against the platform, and the final payout odds can fluctuate based on the volume of contracts placed.

There are several types of prediction market methods, each with its own unique characteristics that we are considering for our future releases.