AmoveoBook allows you to bet on future outcomes and it functions like a trading site.
You bet by purchasing shares on one side or the other.
The odds are reflected by the price, so shares going for 0.1 VEO are the same as 10% probability or 9/1 odds.
Take the example market of: True or False - Brazil will win the (upcoming) World Cup. If you think Brazil will win, you buy shares of the True side. Say you bet 1 VEO at the price of 0.1 VEO, which gives you a total of 10 shares on the True side. If Brazil wins, you can redeem your 10 shares for 1 VEO each, meaning you would profit an extra 9 VEO (10 VEO minus your initial bet of 1 VEO). If Brazil loses, your shares are worth 0 and you lose your initial 1 VEO bet.
The way you can make 9 VEO is if someone else lost 9 VEO. That person would have bet 9 VEO at a price of 0.9 VEO, for a total of 10 shares on the false side. If Brazil loses, he or she would redeemed his or her shares for 1 VEO each, for a profit of 1 VEO (10 VEO minus initial bet of 9 VEO). If Brazil wins, their shares are worth 0 and he or she loses 9 VEO.
To make a bet, you need to use the Amoveo3 Wallet, which is a browser extension for Google Chrome.
You can install the extension here.
Once the wallet is installed, you will need some VEO. See the How Do I Get VEO section below for more information.
Next, you will need to create a payment channel. Payment channels work like opening up a bar tab. You lock some money up as collateral and you use that money to make as many bets as you'd like. You can close the channel at any time, at which point the tab gets settled and any remaining money gets returned to you. Note that there is some delay for closing channels, which is necessary for security.
Once you have opened a payment channel, you can either match an existing order or place a new order at a new price. Matching orders must add up to 1, so if you want to take the other side of a bet of True at the price of 0.25, you will place a bet for False at 0.75.
For additional assistance, please reach out to us on Discord in the #markets channel.