# Events and Outcomes

### What is an Event?

An Event is a real-world question that will eventually have a clear answer, for example:

* “Bitcoin to close above $100,000 on 31 Dec 2025?”
* “Team A to win the championship?”
* “Tokyo to experience an earthquake above X magnitude this year?”

Each Event has:

* A start time (when trading opens)
* An end time (when trading closes)
* A resolution time (when the outcome is known and payouts are made)

### Outcomes

Each Event offers two or more Outcomes, for example:

* YES / NO
* Team A / Team B / Draw
* Multiple time bands (e.g. “In March”, “In April”, etc.)

Outcomes are designed to be:

* Clear
* Mutually exclusive (only one can be correct)
* Collectively exhaustive (one of them must happen)

Users trade on which Outcome they think will be correct.

### How pricing works: crowd-priced outcome pools

EveryX does not use a traditional order book with bids and asks.

* Every Event has pools for each Outcome where user trades go
* The probability shown on the screen is derived from how much money is in that outcome’s pool relative to the others

Very simply:

Probability of Outcome A ≈\
(Money in Pool A) ÷ (Money in Pool A + Pool B + Pool C + …)

As more money flows into an Outcome:

* Its probability goes up
* The probabilities of other Outcomes go down

This means:

* You are effectively trading against the entire crowd, not a privileged market maker with deep pockets
* Events can function without a 1:1 buyer and seller for every trade at the exact moment of entry
