# P2PBet

> P2PBet is a decentralized blockchain platform for betting on cryptocurrency prices and sports, utilizing smart contracts and operating on Polygon.

- Canonical URL: https://iq.wiki/wiki/p2pbet
- Categories: Projects & Protocols
- Tags: Infrastructure, Layer 2, NFT Marketplace
- Created: 2024-09-16T12:40:55.450Z
- Last updated: 2024-09-16T12:40:55.450Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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**P2PBet** is a decentralized platform for betting on events like [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) prices and sports. It aims to offer a transparent and user-controlled betting experience using [blockchain](https://iq.wiki/wiki/blockchain) technology.[\[1\]](#cite-id-hlqknbh8d9m)[\[2\]](#cite-id-im422go0ljp)  
  
  
# Overview  
  
Founded in 2022, P2PBet is a decentralized platform for betting on events such as [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) prices and sports. It aims to provide a secure and censorship-resistant environment without requiring [KYC](https://iq.wiki/wiki/know-your-customer-kyc) procedures. Bets are managed through [blockchain](https://iq.wiki/wiki/blockchain) [smart contracts](https://iq.wiki/wiki/smart-contract), which handle funds automatically.  
  
The platform utilizes its own [smart contracts](https://iq.wiki/wiki/smart-contract) for [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) betting and relies on Azuro Protocol for sports betting. P2PBet operates on [Polygon](https://iq.wiki/wiki/polygon) ([MATIC](https://iq.wiki/wiki/matic)), enabling transactions in [USDT](https://iq.wiki/wiki/tether) and covering gas fees with [MATIC](https://iq.wiki/wiki/matic).[\[1\]](#cite-id-hlqknbh8d9m)[\[2\]](#cite-id-im422go0ljp)[\[3\]](#cite-id-4pjgbxm3ev8)[\[4\]](#cite-id-thn4l1yuw1l)  
  
# Products  
  
## Sport Betting  
  
P2PBet enables sports betting on the [Polygon](https://iq.wiki/wiki/polygon) chain. Users choose a sport, game, and market, then place and confirm their bet through [MetaMask](https://iq.wiki/wiki/metamask). Bets are managed in the "My Bets" section, and winnings must be redeemed manually. The platform aims to offer cashback rewards and accumulate Azuro Waves points based on betting activity. [\[5\]](#cite-id-6ffb4c2wpwk)[\[6\]](#cite-id-eya0p0ng8od)[\[7\]](#cite-id-om1p5s2988k)[\[8\]](#cite-id-naiiw6wjs1m)  
![image-36.png](https://ipfs.everipedia.org/ipfs/QmX3M4UxmGtMsi5qmA2BFGpxEAWLQpXnspGf1p8TH8d13u)  
  
## Finance Betting  
  
P2PBet facilitates finance betting with custom deals and Up/Down bets. Users can create custom deals by choosing a [cryptocurrency](https://iq.wiki/wiki/cryptocurrency), setting the price, conditions, and duration, and confirming the details. Up/Down bets require predicting whether a [cryptocurrency's](https://iq.wiki/wiki/cryptocurrency) price will be higher or lower at a specified time.  
  
The Darts game aims to award users based on the accuracy of their price predictions at the end of the event. Users can manage and claim rewards in the "My Deals" section and opt for private deals to maintain transaction confidentiality.[\[9\]](#cite-id-zoqgjhcrtth)[\[10\]](#cite-id-zmvewqzfqrs)[\[11\]](#cite-id-64z4263p6uu)[\[12\]](#cite-id-8lbyffha04j)[\[13\]](#cite-id-wqbcz086rkc)  
![image-37.png](https://ipfs.everipedia.org/ipfs/QmWkKmfU4wmAWaGfZB3DftRzoos1CkQdrewK9dKxpJtkxF)  
  
# Ecosystem  
  
## Azuro Protocol  
  
P2PBet serves as a frontend for the Azuro Protocol, an open-source framework designed for decentralized betting. Azuro aims to facilitate betting through the integration of prediction markets, [NFTs](https://iq.wiki/wiki/non-fungible-token-nft), [DAO](https://iq.wiki/wiki/dao) governance, and a specialized Liquidity Tree.  
  
The protocol includes [oracles](https://iq.wiki/wiki/oracle) for event resolution, [liquidity providers](https://iq.wiki/wiki/liquidity-providers) who manage pools to earn from spreads, and front-end operators like P2PBet, which provide user interfaces. Governed by a neutral [DAO](https://iq.wiki/wiki/dao), Azuro seeks to establish a transparent and decentralized betting environment.[\[14\]](#cite-id-j1foq93dz7)