SX Bet, the leading sports-focused on-chain prediction market, unveiled the industry’s first peer-to-peer parlays, a new $50,000 USDC “Potential Return” tournament, and a set of liquidity and execution upgrades that tighten spreads and raise fill rates across the venue.
The launch also introduces real protocol revenue: in the first four days, SX bought back over 380,000 SX tokens from platform fees, with 100% of those fees flowing to SX buybacks and the community fund.
“Parlays have always been a cash cow for traditional sportsbooks,” said Jake Hannah, co-founder of SX Bet. “We’ve taken that product and made it peer-to-peer and open source, so prices are discovered by competition rather than determined by a house line. It’s a fundamental shift in how this industry should work.”
First-ever Peer-to-Peer Parlays
SX Bet’s parlays transform a house-priced product into an open marketplace. Bettors build cross-event tickets, and API-connected market makers compete to price the combined outcome, delivering better odds and true price discovery for bettors.
Once a bet is confirmed, stakes are held in smart contract escrow and payouts settle on-chain after the final leg. The design preserves custody, introduces price discovery, and supports the high-upside bets bettors actually seek—without post-hoc “reviews” or clawback anxiety.
For market makers, this opens up a high-margin product historically limited to sportsbooks. Combined with free API access, traders can programmatically quote multi-event risk, win order flow on price, and compete in a free and open market like never before.
$50,000 USDC Tournament with a New Scoring Model
To mark the launch, SX Bet is running a $50,000 USDC tournament using a new Potential Return format that rewards ambition, not just results. Each parlay placed earns points equal to its potential profit at the accepted price—so a +10,000 (101.00) parlay with a $100 stake generates 10,000 points. The Top 100 participants share the prize pool, and losing bets do not deduct points. The tournament is set to kick off on October 9.
SX Token Buyback
SX has introduced a 5% fee on winning parlay tickets and a 3% fee on cross-chain bets. Revenue generated will be used to buy back SX tokens and to add to the community fund, aligning long-term network initiatives with product usage.
In the first four days alone, SX has already bought over 380,000 SX tokens, demonstrating how real product usage directly drives value back to the network. All single bets remain 0% fee, and losing parlays incur no fee.
Faster Live Execution, Tighter Spreads, and Lower Minimums
SX has upgraded its live engine to reduce failed bets; orders are now matched against any available liquidity at a user’s price or better, replacing the old exact-match requirement. A new slippage feature has also been added to increase fill rates for those looking to prioritize depth. Tick size has been refined to 0.125, enabling finer quoting and tighter spreads.
The minimum bet size has been reduced to $1 USDC, making it easier to test ideas and attract retail bettors.
About SX
SX Bet is the leading sports-focused on-chain prediction market, offering users a secure, transparent, and scalable environment for forecasting outcomes. Built on the SX Network blockchain, the platform has surpassed $780 million in prediction volume, solidifying its position as the global liquidity hub for sports prediction markets.
SX Bet is not available in the United States or other prohibited jurisdictions.
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. Investing involves risk, including the potential loss of capital. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.
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