Event handling progresses through distinct stages from initial creation, active betting periods, live outcome tracking, settlement verification, dispute resolution, and historical archiving. Operations on ethereum sports betting sites require sophisticated lifecycle coordination managing event metadata, odds adjustments, betting windows, result validation, payout distribution, record preservation across decentralized infrastructure.
- Event creation procedures
Sporting event initialisation involves establishing smart contract instances containing match identifiers, participating teams, scheduled start times, available betting markets, and initial odds structures. Template deployment utilises pre-audited contract patterns adapted for specific sports categories, reducing development overhead while maintaining security standards. Metadata association links blockchain events with off-chain details like venue information, roster data, and weather conditions, enriching context without expensive on-chain storage. Oracle selection determines which external data sources will provide authoritative outcome information after event completion..
- Odds calculation updates
Market maker algorithms continuously adjust betting lines based on incoming wager volumes, balancing liability exposure across different outcome possibilities. Real-time synchronisation propagates odds changes from centralised calculation engines to smart contracts through oracle submissions, maintaining current pricing. Liquidity depth indicators display available betting capacity at current odds levels, preventing oversized wagers exceeding platform risk tolerance. Odds history logging preserves complete pricing evolution, enabling post-event analysis, dispute resolution, and regulatory compliance verification.
- Betting window management
Pre-event phases allow wagers until scheduled start times, with automatic market closure preventing late bets placed after outcomes become determinable. Live betting periods reopen markets during active gameplay with dynamic odds reflecting evolving match situations, score changes, and player performance developments. Suspension protocols temporarily halt betting during critical moments like penalty kicks, injury timeouts, and replay reviews, preventing informed betting from exploiting delayed information.
- Settlement verification processes
Multi-source confirmation requires matching results from multiple independent oracles before finalising outcomes, preventing manipulation through single compromised data feeds. Dispute window activation follows initial result submissions, allowing reasonable periods for challenge submissions before settlement finalisation. Automated payout distribution executes immediately upon undisputed result confirmation, crediting winning wagers according to accepted odds and stake amounts. Manual intervention protocols address complex situations like cancelled events, voided bets, and partial settlements requiring human judgment beyond automated logic.
- Dispute resolution mechanisms
Challenge submission interfaces allow users contesting results to provide supporting evidence and explanatory reasoning within specified timeframes following initial settlements. Evidence evaluation reviews submitted materials against authoritative sources, including official league records, video footage, and statistical databases, determining validity. Arbitration protocols engage neutral third parties when platform assessments remain unclear or conflicting evidence creates ambiguity requiring expert judgment. Resolution finality timelines establish deadlines after which settlements become immutable, protecting operational certainty, preventing indefinite uncertainty.
- Historical archival systems
Permanent record preservation stores complete event data, including original configurations, all odds changes, every placed wager, outcomes, and settlement details on-chain or through decentralised storage. Query interfaces enable users to retrieve historical information for personal records, tax documentation, and performance analysis without ongoing platform dependency. Data retention policies balance comprehensive recordkeeping against storage costs, determining appropriate detail levels for long-term preservation.
Event lifecycle management involves creation procedures, odds updates, betting window control, settlement verification, dispute resolution, and historical archiving across complete sporting event lifecycles. Coordinated systems handle each phase transition, maintaining operational integrity. Oracle integration provides external data connectivity while smart contracts enforce rules. Combined mechanisms enable comprehensive event handling from initialisation through permanent archival.
