🎲Overtime's Odds
Last updated
Last updated
Overtime is not only bringing the game to the blockchain; it’s doing it with some of the best odds available across all sportsbooks. These odds come from Pinnacle Sportsbook and JsonOdds.
Pinnacle Sports has been around since 1998 and is considered to be one of the most trustworthy sportsbooks on the internet. The level of security they employ is top notch, with the same strong encryption and security standards used by top financial institutions. It is also one of the few sportsbooks to offer odds on eSports.
Pinnacle calculates their odds by combining old school methods like “power rankings” with cutting edge data analysis. Pinnacle uses individual player statistics, team schedules and past performance along with the interpretation of trends and other factors when creating these power rankings while also relying on decades of data to arrive at their odds.
Pinnacle supplies these odds to The Rundown's API which makes them available to Chainlink and the blockchain. JsonOdds
JsonOdds is a simple and modern API for delivering odds for sporting events. TIP-150 made it possible to add data from JsonOdds for professional golf tournaments.
OpticOdds offers real-time odds for sportsbooks on a push format. With data standardization and speed across our broad depth of markets offers sharp and reliable odds. Including DraftKings & Caesars, OpticOdds offer real-time data for all major leagues, including the NFL, NCAAF, NBA, NCAAB, UFC, WNBA, MLB, EPL, La Liga, League of Legends, CSGO, PGA, NHL and more. TIP-207 introduce OpticOdds to Overtime Markets
Overtime receives these odds on-chain via Chainlink data feeds and uses them to price their positional tokens for each market. Pricing for a single dollar of potential profit is equivalent to the implied win probability of the position, but as a decimal instead of a percentage. If a Home win has a price of 0.71 per 1 dollar of potential profit, you can infer the implied win probability of that position, based off of the data supplied by Pinnacle, is 71%.
If you're more familiar with other ways to quantify odds, you can change the format of odds displayed on the home page for markets. Traders can select Normalized Implied Odds, Decimal Odds, or American Odds
Normalized Implied Odds- This format represents the chance of success as a decimal of 1. This is the same format used to price a single positional token as described above and each position will always add up to 1 (unless there is no liquidity available for that position, in which the odds will display as 0).
Decimal Odds- Choosing Decimal Odds displays the amount a position of 1 dollar would pay out if successful.
American Odds- Finally, American Odds (also known as Moneyline odds) displays a slightly different metric depending on which team is the favorite. For the team that is favored to win, American odds shows the cost of positional tokens you'd need to spend to potentially win 100 dollars. The favorite will have a minus sign ("-") in front of their odds. For the underdog, American odds displays the amount you could collect for buying 100 dollars worth of positional tokens (with a "+" in front of the underdogs odds). For example, in the market below Nashville is the favorite, so if you wanted to claim 100 USD of profit on a Nashville HOME win you'd need to spend 149 USD. But if you purchased 100 USD of St. Louis AWAY win positional tokens and you are successful, you could claim 392 USD, 292 of which would be profit. (Keep in mind that skew and discounts will impact actual profit).
See the chart below for a conversion from Implied Odds (in percent) to Moneyline Odds.
