It's not a slam-dunk contast because goalies have a chance to make a save and influence the outcome. A penalty shootout has been a part of the game since the 1970s and purists are against changing a rule to appease some Americans (these are probably the same people who bitched about ties in the NHL). FIFA actually tried the silver/golden goal rule in extra time and it failed miserably.
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It's not a slam-dunk contast because goalies have a chance to make a save and influence the outcome. A penalty shootout has been a part of the game since the 1970s and purists are against changing a rule to appease some Americans (these are probably the same people who bitched about ties in the NHL). FIFA actually tried the silver/golden goal rule in extra time and it failed miserably.