What isEvent Contract？
Synonyms:
| Category | Chinese | English |
|---|---|---|
| Common Term |
Event Contract |
Event Contract |
| Industry Term | 结果合约 | Outcome Contract |
Definition
An Event Contract is a form of contract where the settlement is based on the outcome of a specific event. Participants choose different outcome directions to take part, earning profits or bearing losses based on the actual result after the event concludes. These contracts typically revolve around sports events, market predictions, or specific incidents. Their core purpose is to transform uncertain outcomes into a tradable or bettable platform. In certain scenarios, event contracts can also be integrated with blockchain technology to achieve transparent settlement and result verification.
Mechanism
The system provides multiple outcome options before the event occurs. Users select their direction of participation, and settlements are executed based on the final results once the event ends.
Common Sources / Related Factors
- Sports events
- Esports tournaments
- Prediction markets
- Financial events
- Entertainment platform activities
Value in the iGaming Industry
It enriches gameplay formats and enhances user engagement.
Common Misconceptions
| Misconception | Correct Understanding |
|---|---|
| Event contracts are identical to traditional betting. | The structure and mechanics may differ. |
| The probabilities of all outcomes are fixed. | It is a dynamic state that fluctuates as the event approaches. |
| They are only used in gambling/igaming scenarios. | They are also widely used in prediction markets. |