zkJ0M - Zero Knowledge Prediction Market

Problem Statement 🏇📈

In horse racing betting, the influence of team popularity on sentiment bias can greatly distort sports betting odds, leading to the potential misguidance of public bets and the creation of skewed markets. This problem is evident in traditional sports betting and can result in concerns about fair play, dissatisfaction with manipulated odds, and a desire for a transparent betting environment.

*Source: Feddersen, A., Humphreys, B. R., & Sobbing, B. P. (2013). Sentiment Bias and Asset Prices: Evidence from Sports Betting Markets and Social Media.

Solution 🎯

Our zero knowledge prediction market, zkJ0M, mitigates sentiment bias, enabling fairer, uninfluenced betting, and fostering a transparent, trustworthy betting environment. It addresses the problems associated with traditional sports betting by providing a platform where users can bet on various outcomes without the influence of sentiment bias and manipulation, resulting in more equitable odds.

Primary Target Audience 🎯

Age Range: 18-25 years Interests: Sports & Online Betting Pain Points: Concerns about fair play, dissatisfaction with manipulated odds, and a desire for a transparent betting environment. Behavioral Traits: Tech-savvy, active on social media platforms, engaged in online forums and communities related to betting and sports, and likely to utilize online betting platforms. Demographic: Millennial and Gen Z bettors

Business Model 💼

We charge fees from both proposing and betting parties when they cast their proposals/bets. While users can bet on a wide range of events, for demo purposes, we can use examples such as horse races, F1 races, and sports matches. The platform aims to address the issues of manipulation and bias that are often present in traditional sports betting.

Betting Process:

1. User Bets:

   • Place Bets: Users place bets on possible outcomes.
   • Prize Pool: All bets contribute to a collective prize pool.

2. Determining Winners:

   • Outcome: Once the event concludes, the winning outcome is determined.
   • Winners: Identify users who bet on the winning outcome.

3. Payout Distribution:

   • Calculate Share: Divide the total prize pool by the number of winning bets.
   • Distribute Winnings: Pay out the calculated share to each winner.

4. Platform Commission:

   • Deduct Commission: Take a predetermined percentage from the prize pool as platform revenue.
   • Net Prize Pool: The remaining amount is distributed among the winners.

Example:

• Total Prize Pool: $10,000
• Platform Commission: 10% ($1,000)
• Net Prize Pool: $9,000
• Winners: 90
• Payout per Winner: $9,000 / 90 = $100

Getting Started 🚀

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Installation:

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Usage:

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Demo Link: [Include a link to a demo of your project if available.]

Contributors 🤝

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License 📜

This project is licensed under the [License Name] - see the LICENSE.md file for details.

Acknowledgments 🙏

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