The paper underscores how decentralization in sports betting addresses the
drawbacks of traditional centralized platforms, ensuring transparency,
security, and lower fees. Non-custodial solutions empower bettors with
ownership of funds, bypassing geographical restrictions. Decentralized
platforms enhance security, privacy, and democratic decision-making. However,
decentralized sports betting necessitates automated market makers (AMMs) for
efficient liquidity provision. Existing AMMs like Uniswap lack alignment with
fair odds, creating risks for liquidity providers. To mitigate this, the paper
introduces UBET AMM (UAMM), utilizing smart contracts and algorithms to price
sports odds fairly. It establishes an on-chain betting framework, detailing
market creation, UAMM application, collateral liquidity pools, and experiments
that exhibit positive outcomes. UAMM enhances decentralized sports betting by
ensuring liquidity, decentralized pricing, and global accessibility, promoting
trustless and efficient betting.

该论文介绍了在去中心化的体育博彩中通过自动化做市商 UBET AMM (UAMM) 利用智能合约和算法公平定价体育赔率的方法，建立了一个链上博彩框架，该框架确保流动性、去中心化定价和全球可访问性，从而促进了无信任和高效博彩。

区块链上使用 UBET 自动做市商进行体育博彩

Onchain Sports Betting using UBET Automated Market Maker

Automated market makers (AMMs) are pricing mechanisms utilized by
decentralized exchanges (DEX). Traditional AMM approaches are constrained by
pricing solely based on their own liquidity pool, without consideration of
external markets or risk management for liquidity providers. In this paper, we
propose a new approach known as UBET AMM (UAMM), which calculates prices by
considering external market prices and the impermanent loss of the liquidity
pool. Despite relying on external market prices, our method maintains the
desired properties of a constant product curve when computing slippages. The
key element of UAMM is determining the appropriate slippage amount based on the
desired target balance, which encourages the liquidity pool to minimize
impermanent loss. We demonstrate that our approach eliminates arbitrage
opportunities when external market prices are efficient.

我们提出了一种名为 UBET AMM（UAMM）的新方法，它通过考虑外部市场价格和流动性池的短期损失计算价格，同时保持常数乘积曲线的期望特性，消除有效的套利机会。