Try Quests to earn cryptoOvertime Markets - Volume
Analyze the total volume on Overtime Markets over the past two weeks. Which games received the most activity, both in total users and total $ volume? Which sports are receiving the most bets in total dollar volume on a daily basis? Explain your findings.
Explaining Overtime
The Sports Automated Market Maker is built on 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. And works in this way, 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.
Thanks to Overtime, anyone with a public address and without KYC could experience this market and purchase positions for their preferred sports teams. Nowadays, sports like soccer, football, basketball and UFC are available on the platform but a lot more sports are coming soon!
Through the primary research, it was established that the Online Gambling & Betting Market was valued approximately USD 61.5 Billion in 2021 and is projected to reach to roughly USD 114.4 Billion by 2028. This is approximately the size of USDT or USDC. Imagine if we could scale this product and make all online betting via blockchain!
Daily and total activity by bets number
Daily and total activity by each sport
The sports that are receiving the most bets in total are soccer and baseball. It is fair to comment that soccer is, by far, the most popular sport worldwide, and the major leagues around the world are included in Overtime (EPL, La Liga, Serie A, Ligue 1 and Bundesliga). On the other hand, baseball is including only the United States League (MLB).
Here, we can see that American football and basketball are almost irrelevant. This is not because they are not popular. This is because during the two weeks I analyze, both sports are in an offseason. May be, we could redo these charts when the NFL and NBA start their seasons and compare them with baseball.
Top 10 games by most activity order by bets number and USD volume
We could see some spikes in the amount of bets on Aug 13 & Aug 14 and on Aug 20 & Aug 21. This is basically because it's a weekend. On the weekend we usually have the biggest amount of matches per day.
As we can see the match with the biggest amount of users and bets is Baltimore Orioles - Boston Red Sox. And the third match with the biggest amount of bets is Boston Red Sox - New York Yankees. We could say that a big part of Overtime users are Red Sox fans! \n \n If we look at the USD volume chart, we could say that the match with the biggest volume was Boston Red Sox - New York Yankees, followed by Cincinnati Reds - Chicago Cubs. In third place in terms of volume we have the main event of UFC 278 which was Leon Edwards - Kamaru Usman 2 (The rematch).
Thats all! Thanks for reading.
Mariano