Augur, a decentralized betting ecosystem, announced its Augur Turbo project, a platform aiming to introduce sports betting, adding to its wide betting market. Turbo will use Chainlink’s decentralized oracles to raw external data and scores – ensuring a trustless and efficient way to feed data to its smart contracts, an announcement reads.
According to the statement released on Monday, Augur Turbo is built on the Ethereum layer 2 solutions, Polygon (formerly Matic), which will save a ton of fees for the players and market creators – compared to Ethereum. The new decentralized sports betting market aims to replace the “highly centralized” traditional betting exchanges solving the issues of “limited payouts, withdrawal problems, high fees, and market control,” the statement further reads.
Additionally, the Turbo project is also turning to Chainlink (LINK), which will provide decentralized oracles to feed on-chain smart contracts with external data from games schedules and results, scores, player and team stats, etc. With this integration, market makers on Augur Turbo will create a betting market from any sports discipline, including the NBA, NFL, UEFA, FA, UFC, the Olympics, and other sporting events.
Augur allows market makers to create betting markets outside the sports realm, with recent markets ranging from recent U.S. Presidential elections, weather, current events, financial assets, etc.
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Source: Augur Launches Sports Betting Platform, Turbo, Built on Polygon Using Chainlink’s Oracles