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Spreads and Double Chance

Spreads

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.

Handicap Positions

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 NFL game between the Las Vegas Raiders (HOME) and the Kansas City Chiefs (AWAY) and say the Handicap is (+9). This means traders can decide if they think the Chiefs will win by more than 9 points, or if the Raiders will win or at least not lose by more than 9. For this market the H2 position only resolves favorably if the Chiefs win by 9 or more, otherwise the H1 position will win.

Total Points Positions

Traders can also take positions on Total Points in a game.
For an example of a Total Points market let's look at that same Las Vegas Raiders (HOME) and the Kansas City Chiefs (AWAY) game with a total of (52.5). In this case the available positions will either be for over or under the projected points total between both teams of 52.5. The OVER position will win if the total points in the game is 53 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). Parlays are restricted to one spread position from a specific game in a ticket.
Keep in mind that spreads will change as a game approaches. When viewing an individual market's page, you can see previous spreads that are currently paused.
When spreads change, positions for different amounts will become available in place of old ones.

Double Chance

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.
Coming to a Web3 Sports Market near you!
Here’s how Double Chance positions would look:
  • 1X — Home team will not lose (Home team wins [1] OR game ends in a draw [X])
  • X2 — Away team will not lose (Away team wins [2] OR game ends in a draw [X])
  • 12 — The game will not end in a draw (Home team [1] OR away [2] win outright)
Double Chance positions consist of two different positions composed into a single ERC20 token. 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 Everton will not outright win (but will either lose or draw) in the match against Arsenal, you can select the X2 position.
When available, Double Chance positions appear after single outcome positions.

Double Chance Guidelines

  • You are limited to one double chance position per game per Parlay.
  • The quote for a double chance position is the sum of the quotes from the two individual positions.
Here is a view of Double Chance positions from an individual Market's page