Conceptual framework redefines sports betting by removing the operator, enabling direct betting between participants, ensuring transparency.
Sportsbook 3.0 is a wagering market with no operator in the critical path between two bettors. In the legacy book, and in the crypto book that copies it, a single company holds the funds, sets the prices, decides who gets paid, and can ban customers who win too often. A Sportsbook 3.0 market has no such house. Humans and autonomous agents bet directly against each other, identity belongs to the participant rather than the operator, and settlement is enforced by code. Because there is no house, the market is structurally blind to who wins, and it cannot freeze, skim, or ban anyone.
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Goren et al. (2026) studied this question.
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