⚽Goal3 General

All Terms you need to know on Goal3.

AMM: Automated Market Maker refers to the smart contract algorithm that is used to manage the pool of funds or assets used to pay out the winning bets in order to prevent insolvency.

Bet: Any wager involving money wagered at a sportsbook, casino, racebook or poker room.

Boosted Odds: A feature available to holders of Goal3 Soccer NFTs that allows them to place bets with increased odds, giving them a higher chance of winning.

Cryptocurrency/Token: A type of digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.

Decentralized Application (d-app): An application built on a system that operates without a central authority, where decisions are made and actions are taken by a distributed network of participants.

Fixed Odds: Fixed-odds betting is a form of wagering against odds quoted on a sports exchange. It involves betting on an event in which there is little to no fluctuation on the payout.

Free Bets: A feature available to holders of Goal3 Soccer NFTs that allows them to place a bet without any cost.

Goal3: A decentralized sports betting platform built on zkSync, that allows users to place bets on various sports and events using $SFD and other stablecoins. It also features NFT-based betting, a marketplace for buying and selling bets, and liquidity staking program.

In play betting: Wagers placed after an event after it has started. Also known as LIVE betting, bookmakers post multiple in-play betting options throughout most major sporting events. Goal3 will add this feature in the future.

Liquidity Pool: in the context of a decentralized prediction market, a liquidity pool refer to the pool of funds that is used to pay out to market participants who hold winning payouts. This pool of funds is typically provided by liquidity provider, the protocol and other entities who contribute to the liquidity of the market.

Liquidity Provision: the system that allows users to provide liquidity for a portfolio of assets, in exchange for a share of the trading fees generated by the pool.

Liquidity Tolerance: The maximum amount of liquidity the protocol is willing to provide within a specific market.

Odds: Betting lines set by a bookmaker on a variety of events. Check out Odds Section for more information about Odds on Goal3.

Oracle: A third-party service that provides external data to be used in smart contracts on a blockchain. For example: a sports oracle providing data on live score, goals and match result.

Orderbook: A digital record of all outstanding buy and sell orders for a particular market or security.

Order Slip: It functions like a shopping cart for bets, where the user can select the bets they want to place and the amount they want to wager, and then submit them all at once.

Payout: The amount a bettor collects on a winning wager. When a wager is placed, the possible payout on a betting receipt usually includes the original stake.

Peer-to-peer: A network architecture in which participants interact directly with each other, without the need for a central authority.

Prediction markets: markets in which participants can buy and sell contracts that pay out based on the outcome of a future event.

Profit sharing: A feature available to holders of Goal3 Soccer NFTs that allows them to earn a share of the platform's profits.

Rakeback: A feature available to holders of Goal3 Soccer NFTs that allows them to earn a percentage of their bet back as a form of cashback.

Smart contracts: blockchain-based programs that can automatically execute the terms of a contract when certain conditions are met.

Sportsbook: A free standing shop, or in dedicated space at land based casinos, sportsbooks have become popular meeting spots for bettors and sports fans alike. Sportsbooks accept bets on US events, plus action from around the globe, and provide giant screens for bettors to watch the action play out.

Stake: The amount of money a bettor risks when placing a bet. Original stakes are returned on all winning wagers and many bets that are graded as a push.

Ticket: A receipt issued by Goal3 to confirm a wager has been accepted.

Wager: In betting terms, a wager is a sum of money or other stake that is placed on the outcome of a particular event or game.

Web3: The next generation of the internet, where users have more control over their data and online experiences. It is built on decentralized technologies, such as blockchain.

Weekly Lottery: A feature available to holders of Goal3 Soccer NFTs that allows them to participate in a weekly lottery for a chance to win prizes.

zkSync: A layer 2 scaling solution for Ethereum, which Goal3 is using to optimize the gas fee, and also to enhance the user experience.