Skip to content

Latest commit

 

History

History
80 lines (53 loc) · 3.54 KB

TIP-134.md

File metadata and controls

80 lines (53 loc) · 3.54 KB
Raw
id Title Status Author Description Discussions to Created
TIP-134 Add Same Game Parlays concept to Overtime Draft Danijel (@danthales), KirilA Add SGP to Overtime https://discord.gg/thales 2023-03-17

Simple Summary

This TIP proposes to add the concept ot Same Game Parlay as a special position within ParlayAMM

Abstract

Same Game Parlays entail combining the outcome of a game in terms of winner and points/goals scored. From the end user perspective composing these two positions is seemless and acts as a single position. This TIP proposes a technical approach on how these same game parlay positions can be included into Parlay AMM contract.

Motivation

Same Game Parlays are a very popular time of positioning across web2 books. Example positions are combining the match winner and Under/Over points or goals position.
Sport books usually have dedicated odds for these special parlay types, but for Overtime, we are proposing a solution that taps into existing Parlay and Singles architecture to dinamically allow combining such positions with the odds calculated on a smart contract level.

From the backend perspective, Parlay AMM will receive a SGP much like it would receive two decoupled positions on a same game. It would then detect that this is a SGP, run validation that its an allowed SGP (e.g. match winner plus totals combo) and apply a SGP fee which depends on the sport to the odds multiplication.

A SGP position on the ParlayAMM counts as two individual positions in terms of parlay limits, so if the limit is 8 positions, a max of 4 SGP can be put on a ticket.

Parlay AMM will collaterize a ticket with SGP as if those were two individual positions put on a parlay, so everything else works exactly the same as laid out in TIP-72

Specification

Add SGP concept into the Parlay AMM contract as laid out in Motivation section.
Allowed combinations are moneyline or handicap winner with the total points/goals. For soccer not all total combinations will be supported, as there is high correlation between some combinations (e.g. under 2 goals and draw).

Protocol DAO will list sports and combinations as it deems those ready in a iterative fashion. Basketball would be the first to be supported, with more sports added as we capture and are content with volume and PnL metrics.

Variables

SGPfeePerSport:

  • Basketball 5%
  • American Football 10%
  • Hockey 15%
  • Soccer 30%

Examples

An NBA game had the following odds:

Moneyline
Home Team 1.8x
Away Team 2.2x

Handicap
Home Team (-2) 2x
Away Team (+2) 2x

Total points
Under 200 points 2x
Over 200 points 2x

The following SGP combors are supported:

  1. Home Team and Under 200
  2. Home Team and Over 200
  3. Away Team and Under 200
  4. Away Team and Over 200
  5. Home Team (-2) and Under 200
  6. Home Team (-2) and Over 200
  7. Away Team (+2) and Under 200
  8. Away Team (+2) and Over 200

Not supported SGP combors:

  1. Home Team and Home Team (-2)
  2. Away Team and Away Team (+2)

The odds for each combination will be calculating by multiplying the individual position odds and adding the SGPFee for NBA which is proposed at 5%.
So e.g. Odds for "Home Team (-2) and Under 200" are 2 x 2 x 0.95 = 3.8x

Implementation

thales-markets/contracts#310

Copyright

Copyright and related rights waived via CC0.