🥪Spreads and Double Chance
Last updated
Last updated
The beginning of 2023 brought with it TIP-110 which introduced Handicap and Total Points Spread positions. Users can now take a position of OVER or UNDER for each team’s points spread, as well as the Total Points spread in a game.
With Handicap positions users can trade on the projected margin of victory for a game. This product considers if the favorite will win by more than the Handicap, or if the underdog will win outright or lose by less than the Handicap.
For an example of a Handicap position, lets look at a market for an NBA game between the Boston Celtics (HOME) and the Dallas Mavericks (AWAY) and say the Handicap is (+6.5). This means traders can decide if they think the Celtics will win by more than 6.5 points, or if the Mavericks will win or at least not lose by more than 6.5 points.
Traders can also take positions on Total Points in a game.
For an example of a Total Points market let's look at a NHL game between the Florida Panthers(HOME) and the Edmonton Oilers (AWAY) game with a total of (5.5). In this case the available positions will either be for over or under the projected points total between both teams of 5.5. The OVER position will win if the total goals in the game is 6 or more, with anything less leading to the UNDER position winning.
For both Handicap and Total Points positions, if the threshold is a whole number (e.g. 200 and not 200.5) and the number of points is exactly that number (200), the market resolves as cancelled and all positions are claimable as refunds. Handicap and Total Points markets are also assumed to be resolved after any overtime periods (for binary sports with HOME/AWAY positions only, not for soccer which also includes a DRAW position).
Other sports such as soccer offer a wide variety of spreads and totals
Thanks to TIP-109, Traders can utilize Double Chance positions to take a single position from two outcomes in a market. Instead of buying two individual positions for single market, traders now achieve the same goal with one position.
Here’s how Double Chance positions would look:
Home & Draw — Home team will not lose (Home team wins OR game ends in a draw)
Away & Draw— Away team will not lose (Away team wins OR game ends in a draw)
Home & Away — The game will not end in a draw (Home team OR away win outright)
Double Chance positions consist of two different positions composed into a single position. This allows you to include more than one outcome from a single match in a Parlay. You can also position yourself against a single outcome.
For example, if you believe Gremio will not outright win (but will either lose or draw) in the match against Arsenal, you can select the X2 position.
The quote for a double chance position is the sum of the quotes from the two individual positions.
