Overtime is based on the Thales protocol on the Optimism blockchain. Each market is based on buying options in a binary options market. All complex maths is handled by our backend to make it easy for sports bettors.
Overtime is an AMM so all bets (within safe limits) are instantly accepted and the Overtime protocol is the automatic counterparty. Their liquidity/odds are a curve, where a higher stake leads to lower odds. We calculate this curve in full and fit it to an orderbook. Overtime "fees" are built into the overround and skew in the odds.
When you place a bet on Purebet corresponding with Overtime liquidity, we buy shares to match the return we need to pay you out in the event that your bet wins. Your bet is instantly paid out on Solana as soon as the event is settled, while we claim the winnings on Optimism to settle the balance. Overtime was the second aggregated protocol on Purebet.