Placing a New Bet

Joining Deadline :

1) Participants must have Wagers in place at least 2 minutes before the scheduled start time.

2) Choose one competitor to bet on per match-up.

3) Place a new bet (between $10 and $1000).

4) Wait for another bettor to match your bet dollar amount in order for the bet to be confirmed. Example. John picks competitor A and bets $20. Wendy picks competitor B and bets $20. John and Wendy have matched bets.

5) If no one matches the bet within a specified time ( Before start of the event), you get refunded.

Matching Someone Else’s Bet :

- Choose a competitor and match someone else’s bet (between $10 and $1000).

- The bet is confirmed immediately upon matching.

Winning and Losing :

- The person with the winning bet takes the losing bettor’s stake. Example. John picked competitor A and wagered $20. Wendy picked competitor B and Wagered $20. Competitor B lost the competition. Wendy’s $20 stake goes to John.

If both bettors picked a losing bet, they lose their stakes.

Refund Policy :

- If a bettor places a new bet but no one matches it within the specified time (2 minutes before event start time), they receive a refund.

This refund policy ensures fairness and provides a safety net for bettors whose new bets aren’t matched within the given timeframe.

Betting Rules and Entry Fees for Competitors :

- An entry fee to enter a competition is set by the event creator. The allowable minimum and maximum amounts for the entry fee perevent are as follows

- Minimum entry fee per matchup : $10

- Maximum entry fee per matchup : $1000

Joining Deadline :

- Participants must join the matchup at least 5 minutes before the scheduled start time.

Contest Pot :

- The contest pot is dynamic and depends on the total entry fees collected.

Payout Distribution :

- Winner : 65% of the contest pot

- Judge : 15% of the contest pot

- Gains App Admin: 20% of the contest pot

Winner Determination :

- The judge determines the winner based on the rules set by the event creator.