Sports Markets

Traders that are familiar with other Thales AMM products will feel right at home using Overtime, but here's a quick breakdown if you need a refresher or are new to positional markets.
Once a market is created and open for AMM trading, users can take advantage of multi-collateral trading and purchase positions using sUSD, DAI, USDC, USDT.

Market Odds

Each position's price is calculated using odds from Pinnacle as well as the price impact upon each trade. Due to the decentralized nature of Overtime, anyone can call odds updates for an active market at any time. Odds are automatically updated every 6 hours, except on game day when odds are updated hourly. Also, if odds deviate a certain amount they are automatically updated by keeper bots. Like many derivatives offerings, the lowest odds a market will support is 0.05. The maximum supported odds is 0.95. If a market's odds fall outside of this range, the AMM will stop offering positional tokens for that market to traders.

Position Pricing

Each position is priced in a range from 0 to 1. For example, if the price for the position of a HOME team to win is 0.55, it means a user can buy 1 HOME position for 0.55 USD. If the HOME team wins, the trader will be able to exchange that 1 HOME position for 1 USD. If they HOME team does not win, the traders positional token will be worthless.
Each trade is subject to a 2% safebox fee as well as skew. The minimal skew that can be applied to a market is 1%, with a maximum skew impact of 5%.

Market Liquidity

Each market is limited by a default cap. This means AMM markets will halt trading once a position's initial liquidity is bought up. Users can purchase positions for a market to an extent, but after this initial liquidity is gone traders will have to wait until another user takes some risk from the AMM on the other side by purchasing positional tokens for the other positions available in the market. The AMM can essentially drive infinite volume if it remains balanced.
THALES stakers are also incentivized to trade on Overtime as any volume generated from the product is attributed to the trader's gamified staking bonus.

Market Resolution- Claim your winnings!

The AMM stops trading when the game starts. Markets resolve once the game is over and the data feeds are updated.
Each market can be resolved with one of the two (or three) possible outcomes or canceled. Traders holding winning positional tokens are eligible to exercise, or redeem, these tokens and receive payment. 1 WINNING positional token is worth 1 USD.
Winnings not claimed within 12 weeks of a market being resolved are forfeited.
Positions on Overtime for soccer/football matches are only for regular time (90 minutes + Injury / additional time). Playoff or knockout games that are tied at the end of regular time and go to extra time/penalty shoot-out will result in a draw (X).
So if you purchase a HOME position for a soccer/football match that goes to extra time, the winning position for that market is DRAW, even if the HOME team ends up winning the match during extra time.
In case of cancellation, each user can exercise their position and receive USD according to the last recorded price per option. For example: if the user is holding 1 HOME option, for which the last price per HOME option is 0.55, the user will receive 0.55 USD.