Augur Prediction Market Confirms First $20K in Bets Have Paid Out

One of the most complex DApps to run on the Ethereum blockchain, Augur, is a decentralized prediction market enabling users to bet on almost anything.

On July 18, 2018, Augur announced on Twitter that the first market on its platform confirmed $20K in payouts to users.

World Cup Bets Pay Out $20K. Three years after its $5.5 million ICO, Augur has proved to be a functional prediction market controlled and operated solely by its users.

The first markets have successfully resolved on Augur!

A peer-to-peer platform, Augur allows anyone to pose virtually any question for other users to bet on, ranging from the outcome of upcoming elections to weather predictions and natural disasters.

After going live on the Ethereum network in mid-July, Augur settled its first markets - the most valuable being the outcome of the France-Belgium World Cup semifinal game.

Those who voted correctly and bet on the prediction market were paid out in ether.

Augur uses ether and its REP tokens to stake bets and incentivize users to report correct outcomes.

In an innovative approach to finance, Augur sought out to take full advantage of trustless, peer-to-peer smart contracts and make betting on anything a real way for people to earn an income.

Global- a website that tracks Augur betting markets, about $932,000 in ether are currently staked across 474 Augur markets.