The most important building block of prediction markets are events. Events can be completely different, like “Who will win the upcoming basketball game: the Lakers or the Clippers?” or “What will the box office of the Star Wars movie be in the first weekend after the movie is released?”
For the simplicity of the platform, events are clearly defined by outcomes that do not overlap with each other. In the first example, a basketball game can only have three possible outcomes: the Lakers can win, or the Clippers can win, or there can be a tie at all. Events with continuously changing outcomes (e.g., the box office from the movie in the example above) can be normalized by setting a time frame. The different outcomes of the events will have only one winning outcome, the other outcomes will be the losing ones.
Event creation
In the Oracula platform, users can create their own events. This is not difficult at all. A user just needs to choose a theme they are interested in, upload all the necessary information about the event with the variants of the outcome and fairly get their profit from every bet made on the event.
However, it is very important to keep track of different events in the world and correctly process the information on the different outcomes of the event and the results in real time.
The commission on the Oracula platform is fixed, part of the commission is paid to the creator of the event, the rest is credited to rewards fund for other activities.
The event is created through the publication of smart contracts in the blockchain. When creating an event, the user must enter the following information:
- Event category. You need to choose the category of the created event, for example entertainment, sports, Esports, politics and etc.
- The title. Formulate a question for the predicted event, such as “Who will win Best Actor 2022 Oscar?”
- Start and end date of the event. You need to estimate the start and end date of the created event.
- Answer if the betting and event end on the same date.
- Describe the event. You need to give a detailed review of the created event. For example, you can mention the start date of the event, where it will be held and list the participants.
- Options. Define the possible outcomes in a way that is clear to everyone. Once the event is over, only one outcome option will win.
- Tags. Here you can point all tags related to the created event.
- Event type. Choose whether the event will be public or private.
- Source for the outcome. Here you need to attach a link officially confirming the holding of the event.
Now you are already aware of the creation of events on our platform and fully ready to conquer the world of prediction with us and earn! Stay tuned, cause a lot of work is being done behind the scenes and soon we will bring you great and fascinating news!
