Link to the video on YouTube: https://www.youtube.com/watch?v=VSlbAj2702s
Bitcoin betting rules
1. Bitcoin Betting service is a betting pool of cryptocurrency rate movement. We work solely with cryptocurrencies. The service does not accept any fiat currencies (Euro, Dollar, ruble etc.)
2. Cryptocurrency rate recorded every 5 minutes in present market price (last price) and it gets a status "base price". You can put either a long (UP) or a short (DOWN) bet on the rate against the base price. At the close of each 5-minute betting cycle bets close and new 5-minute betting period starts with a new base price. The draw expectancy stage starts after entries close and lasts for 15 minutes. Drawing takes place after 15 minutes of waiting if there is a sufficient quantity of participants.
3. Upon the draw, cryptocurrency rate recorded in a current price (last price). If you placed a long (UP) bet and rate increased, you are entitled for a payoff in percentage correlation of your bet against the combined value of long (UP) bets. In this case, prize pool consists of combined value of short bets. The same happens, just the opposite way, if you put a short bet and the rate decreased.
4. Bets accepted in the separate unit:
5. The minimum bet amount for BTC is 0.00001.
6. The maximum bet amount for BTC is 10.
7. A bet must be divisible by the minimum bet amount.
8. It is possible to make long and short bets simultaneously. However, in this case consideration must be given to a possible 5% loss (commission fee for payoff).
9. All your bets of the current drawing displayed in the unit "Bets".
10. At the conclusion of bet acceptance period current drawing switches to draw expectancy mode.
11. IT IS IMPOSSIBLE to cancel or modify already existing bets!
12. Information regarding betting and drawing displayed in the following unit:
12.1. Period - is a unique number of the drawing.
12.2. Base price – price recorded in the beginning of each drawing in a current price (last price).
12.3. Last price – is a current price that fluctuates in dependence to movement of the currency pair rate in the online mode.
12.4. All bets amount - is a total value of long and short bets.
12.5. Your bets - is a total value of your bets.
12.6. On the right of each period displays its status, as a countdown to the end of the acceptance of bets or the countdown to the drawing, and after the draw you can click on it and see its result if the period is not canceled.
12.6.1. Accepting bets 01:15 - entries are open.
12.6.2. Status: 3:23 - time remaining until the completion of the drawing.
12.6.3. Status: done - drawing is successfully completed; you can click on the status and see the detailed information.
12.6.4. Status: cancelled - drawing is off.
13. Winners are determined in accordance with last price fixing at the close of the draw.
14. Distribution of prize funds carried out automatically to winner's accounts.
15. Calculation of the prize pool conducted in dependence to the bet amount in percentage correlation.
16. The commission fee is calculated and written off automatically in the volume of 5% from prize payout.
17. Drawing cancels in the event of total absence of the bets.
18. Drawing cancels if all bets placed in the same direction (either long or short).
19. Drawing cancels in case if at the end of the drawing base price matches with current price.
20. In case drawing cansels all bets without charging a commission fee go back to users who made them.
21. It’s prohibited to use obscene login names upon registration.
22. If there is an error or any hacking, the system may decide to suspend accepting further bets and suspend the withdrawal of funds before the administrator's intervention.
23. There is a daily limit on withdrawals of 0.3 BTC for users who did not confirm the email and did not activate two-factor authentication.
24. It is forbidden to discuss financial issues and actions of the administration in a chat. Negative expressions of people who loses, insults to someone, etc. are also prohibited in order to create a positive mood on the btcbet.cc. if you have any questions or complaints - there is a Support section in this case.
25. For violations of the rules of the chat, the moderator may ban the user.