By standard, users will mainly interact with the smart contracts and the portal.
On the protocol level, the main interactions happen as follows:
What will happen on-chain when you placing a bet?
When a user wants to place a bet, they first send the desired bet amount from their wallet to the Bookmakers smart contracts. This is an on-chain transaction, meaning it is recorded on the blockchain, which allows for transparency and immutability of the transaction data.
Once the transaction is processed and the funds are received by the smart contract, the user is then issued an amount of Wager representing their bets in their wallet. These Wager contains data about the bet that was placed, including the amount of the bet, the odds, and other properties of the bet.
What will happen if you win?
When the outcome of the bet is determined, the user can redeem their winnings by executing another on-chain transaction. This transaction sends the winnings from the smart contract back to the user's wallet.
To be considered a winning bet, the user must correctly guess all the outcomes specified in the bet (in Combo/Parlay & System Mode). The smart contract will automatically check if the user correctly guessed the outcomes and if so, the smart contract will release the winnings to the user's wallet.
This process allows for a transparent and secure way of placing and resolving bets, as all the transactions and data are recorded on the blockchain, and the smart contract guarantees that the funds are properly managed and distributed to the right user.