Sports Trading Guidelines
The smart contract architecture ensures a safe, transparent and reliable way of trading with the Sports AMM. Every trade is fully collateralized, and the funds will always be in respective smart contracts, waiting for you to claim if your trades were correct. The smart contracts themselves are the first and foremost source or truth. Code truly is law with Overtime.
Changes to the contract codebase of Overtime can only be done as a result of a TIP (Thales Improvement Proposal) being voted in by the Thales Council, the elected governing body of the Thales DAO, consisting of reputable Thales community members. Thales DAO also governs all the markets and transactions of the protocol.
Listed below are the Overtime trading rules and guidelines to offer a standardized and familiar way of interacting with the Overtime platform:
A market can be built around who will win the game, what number of goals will be scored, the number of points a player will score etc. Each market is its own smart contract. New data providers can only be added through a Thales Improvement Proposal (TIP), after being voted in by the Thales Council.
Currently we are using TheRundown and Enetpulse for data feeds. By leveraging these data providers, Thales can fetch the data from specific Web2 sportsbooks or use an aggregation of multiple sources.
2. If results are not delivered by the data providers then the pDAO (Protocol DAO) has the right to resort to alternative, reliable sources like trusted social media or news outlets to resolve the markets.
In 3-position sports, such as soccer, only the outcome of the game at the end of regular time is considered when calculating totals and spread/handicap markets. However, in 2-positional sports like American football or basketball, the entire duration of the game is taken into account when evaluating these types of markets, including overtime or penalties.
One example of this is a draw in UFC. For combat sports, a technical draw results in the cancellation of all Full-Fight period markets. Similarly, if a fight is declared a 'No Contest,' all positions are nullified.
Another example is a “push” for spreads and totals markets. This occurs when the final-score margin is same as the spread, i.e. a spread of 10 with the winning team scoring 10 more points the then losing team.
Also, 2-position sports do not include a 'Draw' position. If a 2-position market results in a draw, positions for both teams become void and the corresponding market is canceled.
This is relevant to Tennis matches. If the match has started and a player forfeits after the start, the opposing player will be deemed the winner of the match. If a player forfeits his match after the start, all totals and spread markets will be canceled.
If a match is interrupted in the first half, the game is invalid for all types of bets, except for markets for which the outcome has already been established at the time of abandonment. If the match is interrupted after at least two-thirds of regulation time has been completed the result at the time of the interruption is valid for all types of bets.
For NBA games, it's not uncommon for changes to occur in the final player statistics after the game concludes, such as the number of assists or rebounds. Overtime will resolve these markets with a slight delay to ensure that the statistics are definitive. These will be considered final, and in the event that changes occur after resolution, the market result on the platform will not be altered again.
If by any chance a position is accepted after a fixture actually has commenced, trades will be honored unless a significant advantage has been obtained. pDAO retains the right to cancel the market if it determines that an unfair advantage has been acquired. In such cases, all traders will receive a refund for their deposits. This serves to protect the liquidity providers.