How do I win Prize money?
You win prize money by entering into contests where the lineup you create has a score that places in the contest's winning positions.
How much prize money can I win?
That depends on the contest. All contests are created by other peers like yourself, whom are called Makers. As a Maker of a contest, you get to set the prize payout terms of the contest. You can choose from the following three prize structures:
Winner Takes All -- 1st place wins the entire prize pool.
50/50 -- Entrants that finish in the top half of all contestants get an equal shares of the prize pool. If there are an odd number of contestants, the number of prize payouts is rounded down. For example, if there are 11 contestants, the top 5 get paid. If there are 31 entrants, the top 15 get paid, etc.
Top Finishers -- Set the amount of prize money allocated to each place by percentage of the total prize pool. For example, allocate 50% to first place, 25% to second, 15% to third, and 10% to fourth. Or any combination that adds up to 100%.
How are contestant scores and places determined?
See the points scoring guide on how scores are calculated for more details.
How do I get paid prize money?
If one of your entries places in a winning position, the corresponding prize money will automatically be credited to your wallet after the contest has finished.
What if there is a tie for a winning position?
If there is a tie for a winning position, the prize money for that position will be split equally between the tie-holders.
How much does it cost to enter a contest?
That depends on what the Maker sets as the entry fee for the contest. Each Taker / contestant is required to pay the same entry fee. There is also a 2.5% - 5% Taker service fee for entering a contest.
The exact fee amount depends on the currency the contest was created in by the Maker. For contests crated in SPORTS tokens, the Taker fee is 2.5% of the entry fee amount. For contests created in Bitcoin or USD, the Taker fee is 5% of the entry fee amount.
Makers of contests are charged a Maker service fee of between 1% - 2.5%, depending on which currency is used (1% for SPORTS, 2.5% for Bitcoin or USD).
No matter how many times a Maker or Taker enters a contest, the above fee structure will be the service fee for all of that particular contestant's entries in that contest.