> For the complete documentation index, see [llms.txt](https://onchainbets.gitbook.io/onchainbets-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://onchainbets.gitbook.io/onchainbets-docs/faq/representation-on-the-chain.md).

# Representation on the Chain

Players place bets via frontends on event outcomes. Winners receive funds from liquidity pools based on the odds, while lost bets contribute to liquidity pools for future payouts. Oracles create events and provide initial odds, while Liquidity Providers deposit funds into liquidity pools. To place a bet, call an AzuroLP contract and send tokens to the liquidity pool, receiving an NFT as evidence of the bet. Bet resolution occurs at the protocol level, with individual bets never rejected or canceled.

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