Freeport is a free and open marketplace for users to place wagers on outcomes of events. The website, freeport.bet, is simply serving as an interface for the user to interact with the family of smart contracts that comprise the freeport marketplace. All market information and funds are held on chain and are controlled via smart contracts and immutable metadata. Users can simply browse open markets, connect their wallet, wager, and redeem their winnings. Freeport.bet does not assume any control of user funds or information.
In the near future, freeport will offer the ability for individuals, groups or organizations to create and list their own markets. This will give bettors a variety when choosing which market to place their bet on (it will also open opportunity for competition as it will be possible to offer bonuses/other incentives as a bookmaker to lure bettors to wager on your market). More importantly, this feature will allow for true competition to ensure market creators keep their fees low, and their reputation within the betting community high.
Freeport is working to upgrade it's current contract architecture to plutusV2 and provide the create a market feature to users/organizations.