Try Quests to earn cryptoOvertime Markets - Volume
Description of work
In this work, we want to analyze the Overtime platform from different perspectives, including:
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Analyzing general statistics of Overtime in the last two weeks
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1 - 1 User activity on Overtime in the last two weeks.
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2 - 1 The volume of money spent on betting in Overtime in the last two weeks.
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3 - 1 Number of games that have been bet on in the last two weeks based on the type of sport and different leagues
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Analyzing sports that have been bet on in the last two weeks
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1 - 2 The number of bets on different sports in the last two weeks
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2 - 2 The amount spent on betting on different sports in the last two weeks
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Analyzing sports leagues that have been bet on in the last two weeks
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1 - 3 The number of bets on different leagues in the last two weeks
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2 - 3 The amount spent on betting on different leagues in the last two weeks
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Analyze matches that have been bet on in the last two weeks
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1 - 4 Top matches in terms of number of placed bets during the last two weeks
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2 - 4 Top matches in terms of amount spent on placed bets during the last two weeks
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The most active addresses
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Conclusion
First, let's introduce Thales and Overtime!
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What is Thales?
Thales is an Ethereum protocol that allows the creation of peer-to-peer parimutuel markets that anyone can join. This building block is the foundation of novel on-chain initiatives, from a platform for AMM-based positional markets to immersive gamified experiences and much more.
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How does it work?
The set of smart contracts composing Thales leverages uncensorable sUSD as collateral, an immutable source of truth for market settlement from Chainlink data feeds, and all the advantages (speed, costs, and security) of a rollup-centric network like Optimism.
source: thalesmarket.io
Thales website: thalesmarket.io
Thales docs: docs.thalesmarket.io
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Whats is Overtime?
Overtime is a positional market for popular sporting events that operates without relying on a centralized entity like most sports markets. Now that Thales contracts have been used as inspiration for the new Sports AMM, as well as reliable data feeds from the industry best oracle Chainlink, Overtime promises the most fun you'll have with DeFi.
The Sports AMM is one of the most anticipated products built on Thales, as it allows users to purchase positions for their favorite sports teams through the highs and lows of an entire season. With sports such as soccer, football, and basketball on offer, and more on the way such as UFC, Formula 1, Moto GP, you can finally support your favorite team or athlete entirely on the blockchain!
source: docs.overtimemarkets.xyz
**Overtime website: **
Overtime docs: docs.overtimemarkets.xyz
Methodology
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1 - When a person bets on a game in Overtime, an amount in stablecoin (in USDC or USDT or DAI or sUSD - according to Overtime docs) is transferred from its wallet to Overtime smart contract. By finding the transactions that transfer stablecoins to the mentioned smart contract, we can obtain the trader address, the number of bets, their amounts, and the smart contracts related to the games that have been bet on from
[optimism.core.fact_event_logs]table.\
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2 - We can obtain information about the details of the games, such as the name of the games and sport and the league related to each game, from the Onchain data, But due to the difficulty of this method and the fact that canceled games and related transactions cannot be identified through this method, we choose another way.
We received the information related to the details of the games through Overtime Graphql API in the form of JSON, and then we converted this information into SQL commands using Python and used it in Velocity. Details of converting JSON to SQL commands are available on Github.
Details about the games can be obtained using the following command:query MyQuery { sportMarkets(where: {timestamp_gte: "1660176000",timestamp_lte:"1661385599", isCanceled:false}, first:1000, orderBy: timestamp ){ address homeTeam awayTeam tags numberOfParticipants isResolved timestamp}} -
All the results in this work are related to the period from 2022-08-11 to 2022-08-24 (14 days).
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If a game is canceled, all the amounts bet on it will be returned to the traders by the smart contract related to the game.
We ignore transactions related to betting on these games because, in section 2, we only get details of finished games (by setting isCanceled:false).
✅ Observations
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During the last two weeks, 2022 bets have been placed on Overtime.
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The highest number of bets were placed on August 20 (280 bets), August 13 (263 bets), and August 14 (249 bets), respectively.
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Most of the activities happened on weekends.
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464 unique addresses used Overtime in the last two weeks.
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The most activity of unique addresses was on August 21 (135 addresses), August 20 (85 addresses), and August 13(83 addresses), respectively.
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✅ Observations
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During the last two weeks, $248K has been spent for bets on Overtime.
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- 68.5% of this amount ($169.619K) was in sUSD, 28.8% of this amount ($71.42K) was in USDC, 2.59% was in DAI ($6.4K), and 0.086% was in USDT.
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The highest volume spent on bets ($) was on August 14 ($70.32K), August 13 ($44.26K), and August 11 ($32.64K), respectively.
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From August 14 onwards, the amount spent on betting ($) has decreased significantly.
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✅ Observations
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In the last two weeks, bets have been placed on 354 matches.
- Of these, 43.8% of matches are related to Soccer(155 matches), 41.2% are related to Baseball (146 matches), 8.47% are related to American football(30 matches), and 6.5% are related to American football (23 matches).
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Share of different leagues in provided matches:
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Major League Baseball (MLB) - 34.7%
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English Premier League (EPL) - 21.5%
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LaLiga - 8.46%
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Serie A - 7.52%
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National Football League (NFL) - 6.78%
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Major League Soccer (MLS) - 5.74%
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Mixed martial arts (MMA) - 5.59%
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Bundesliga - 5.39%
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Ligue 1 - 4.4%
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✅ Observations
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At the beginning and middle of the week, most bets are usually placed on baseball.
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The number of football and American football bets on weekends increases because these games usually start on weekends.
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The highest number of bets have been placed on Soccer (1071 bets), baseball (701bets), American football (137 bets), and MMA (113 bets).
✅ Observations
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Same as the number of bets, At the beginning and middle of the week, the most amount spent for betting is usually for baseball.
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The amount spent for betting ($) on football and American football on weekends increases because these games usually start on weekends.
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About 92% of the amount spent on betting on August 19th was related to MMA.
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The highest amount spent on betting ($) during the last two weeks is related to Baseball ($120.551k), Soccer($79.71k), MMA ($30.32k), and American football ($17.08k).
✅ Observations
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In the last two weeks, the most number of daily bets have usually been placed on MLB and then EPL
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The highest number of bets placed in the last two weeks based on leagues is related to MLB (701 bets), EPL (434 bets), La Liga (171 bets), Serie A (152 bets), NFL (137 bets), MLS (116 bets), MMA (113 bets), Bundesliga (109 bets), Ligue 1 (89 bets) and, respectively.
✅ Observations
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From August 9 to 18, the most amount ($) was spent on betting on MLB.
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On August 19 and 22, the most amount ($) was spent on betting on MMA.
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The highest amount spent for bets ($) in the last two weeks based on leagues is related to MLB ($120.55k), EPL ($30.41k), MMA($30.32K), Serie A ($17.73k), NFL ($17.08k), La Liga ($12.85K), Bundesliga ($10.59k), Ligue 1 ($4.82k) and MLS ($3.29k), respectively.
✅ Observations
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Top matches in terms of the daily number of placed bets during the last two weeks are related to:
- Baltimore Orioles VS Boston Red Sox (MLB) - Aug 21 - 53 bets
- Manchester United VS Liverpool (EPL)- Aug 22 - 29 bets
- Boston Red Sox VS New York Yankees (MLB)- Aug 14 - 22 bets
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Top matches in terms of the total number of placed bets in the last two weeks are related to:
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Baltimore Orioles VS Boston Red Sox (MLB) - 60 bets
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Manchester United VS Liverpool (EPL)- 43 bets
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Cincinnati Reds VS Chicago Cubs (MLB) - 42 bets
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✅ Observations
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Top matches in terms of the daily amount spent for placed bets during the last two weeks are related to:
- Boston Red Sox VS New York Yankees(MLB) - Aug 14- $18.18K
- Leon Edwards VS Kamaru Usman (MMA) - Aug 19 - $13.35K
- Philadelphia Phillies VS Miami Marlins(MLB)- Aug 11 - $12.76K
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Top matches in terms of the total amount spent for placed bets in the last two weeks are related to:
- Boston Red Sox VS New York Yankees (MLB) - $22.04K
- Cincinnati Reds VS Chicago Cubs (MLB) - $15.59K
- Leon Edwards VS Kamaru Usman (MMA) - $14.11K
✅ Observations
- The most active addresses based on the number of placed bets in the last two weeks are:
- 0xfb15339d187a76af62698f73d700e1f8536f03bd - 107 bets
- 0x49908e05de9e1d559499b08042d1123a1daae6b4 - 62 bets
- 0x022fd3cfd3134b1fc64d6cbc5e0fba2882e8209f - 58 bets
- 0x97579172749e2bc672e204891a43cbc0f87c8374 - 45 bets
- 0xf7b0175565366602f5ddf57be6d67424497c72a2 - 43 bets
✅ Observations
- The most active addresses based on the amount spent ($) on betting in the last 2 weeks are:
6 - Conclusion
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During the last two weeks, 2022 bets have been placed on Overtime, 464 unique addresses used Overtime, and bets have been placed on 354 matches.
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During the last two weeks, $248K has been spent for bets on Overtime.
- The highest volume spent on bets ($) was on August 14 ($70.32K), August 13 ($44.26K), and August 11 ($32.64K), respectively.
- From August 14 onwards, the amount spent on betting ($) has decreased significantly.
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The highest number of bets have been placed on Soccer (1071 bets), baseball (701bets), American football (137 bets), and MMA (113 bets).
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The highest amount spent on betting ($) during the last two weeks is related to Baseball ($120.551k), Soccer($79.71k), MMA ($30.32k), and American football ($17.08k).
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The highest number of bets placed in the last two weeks based on leagues is related to MLB (701 bets), EPL (434 bets), La Liga (171 bets), Serie A (152 bets), NFL (137 bets), MLS (116 bets), MMA (113 bets), Bundesliga (109 bets), Ligue 1 (89 bets) and, respectively.
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The highest amount spent for bets ($) in the last two weeks based on leagues is related to MLB ($120.55k), EPL ($30.41k), MMA($30.32K), Serie A ($17.73k), NFL ($17.08k), La Liga ($12.85K), Bundesliga ($10.59k), Ligue 1 ($4.82k) and MLS ($3.29k), respectively.
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Top matches in terms of the total number of placed bets in the last two weeks are related to:
- Baltimore Orioles VS Boston Red Sox (MLB) - 60 bets
- Manchester United VS Liverpool (EPL)- 43 bets
- Cincinnati Reds VS Chicago Cubs (MLB) - 42 bets
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Top matches in terms of the total amount spent for placed bets in the last two weeks are related to:
- Boston Red Sox VS New York Yankees (MLB) - $22.04K
- Cincinnati Reds VS Chicago Cubs (MLB) - $15.59K
- Leon Edwards VS Kamaru Usman (MMA) - $14.11K
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The most active addresses based on the amount spent ($) on betting in the last 2 weeks are: