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Place your bets please
Posted by 2 months ago

After margin markets, options and financial bets we are proud to introduce a new feature called non-financial bets. "What ? Another type of bet ?". Yes. Another type of bet on top of the other types of bets.

Non-financial bets do not refer to the price of an external asset and are not limited to the financial market. They can be sports, political bets or any other type of bet that involves a real world event that will take place in the future, such as the result of a football match, the result of an election, etc. There are no restrictions on the subject of the bet. Also those bets are not always managed by the system. The person who places a bet can decide for himself how the bet will end, can designate another player to do it or can designate the CoinRepublik team to decide how a bet will end. For more details visit the betting area.

Launching a bet requires, as in the case of financial bets, a collateral that will be used to pay the players in case you loose the bet. Because bets are placed on events outside the game where the system has no data, how the bet ends falls to the person designated to end it. Ending a bet basically means choosing the winning option. Once the winning option was choosed, yhe payment of the players is made automatically by the system. As in the case of financial bets, we will give a concrete example:

1. Let's say you have at least $ 10 and you think that in the next 30 days Israel will attack the Gaza Strip with missiles (it happens often). For this you launch a bet that contains two options, one in which the Gaza Strip is attacked by missiles and another in which the Gaza Strip is not and you designate the CoinRepublik team to decide which option is the winner. You also specify that the team's decision will be made based on the news presented by For the option in which the Gaza Strip is attacked, you set a quota of 1.1 and for the option in which the Gaza Strip is not attacked, you set a quota of 1.5.

2. A player considers that the Gaza Strip will be attacked and bets $10 per option. Another player considers the opposite and bets $5 on the option where there will be no attack.

3. After 10 days, the Gaza Strip is attacked by Israel, and the team ends the bet with option 1 as the winner. The player who bet on variant 1 will receive $11 (1.1 x $ 10) back, the one who bet on variant 2 will lose the investment and the initiate of the bet will pay $ 1 to the one who bet on the first version but will receive $5 from the one who lost the bet. In total the initiator will receive back $14 ($10 initial guarantee, $5 from option 2 and will pay $1 to option 1).

4. If after 30 days, does not present any news regarding a potential attack, then the team will establish option 2 as the winner. In this case, the one who bet $10 will lose the money, and the one who bet $5 will receive back $7.5 (1.5 x $ 5), and the initiator of the bet will receive a total of $17.5 ($ 10 initial guarantee, $10 from the loser and will pay $ 2.5 to winner)

As can be seen in both situations, the initiator has a profit. Unlike financial bets or options in classic bets both parties can make a profit and depending on the odds and the number of bets attracted by the options, the initiator can be the winner in any possible situation. Setting odds is the most important thing when placing a bet.

It's time to place your first bet.


SONGOKU29   ~28 days ago

thanks for information



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