Submit info to database error

[chilllax]

PHP Code:

<?php
  $gamertag=$_POST['gamertag'];
  $eaddress=$_POST['eaddress'];
  
  if (!$gamertag || !$eaddress)
  {
      echo 'You have not entered all of the required information.<br />'
           .'Please go back and try again.';
      exit;
  }
  if (!get_magic_quotes_gpc())
  {
      $gamertag = addslashes($gamertag);
      $eaddress = addslashes($eaddress);
  }
  
  @ $db = new mysqli('localhost', 'chilllax_chill', 'red123', 'chilllax_participants');
  
if (mysqli_connect_error())
{
    echo 'Error: Could not connect to database. Please try again later.';
    exit;
}

$query = "insert into participants values
          ('$gamertag', '$eaddress'}";
$result = $db->query($query);
if ($result)
    echo $db->affected_rows.' participant added.
    
$db->close();
?>

Theres the code in my script. I have the database set up and also the correct number of tables. My problem is whenever I try and run this script this error comes up parse error, unexpected $. Why is this. Also I am going by a php book thats infront of me and I dont really understand the bit of code that actually inserts the data into the database. How does it know which table to place the variables into? I hope this made sense. Thanks for any help.