Bidding mechanics

Qatar's 2022 World Cup will host 64 matches, divided in 22 match days, which will be the equivalent to 22 Bidding Days in Crypto Gambit's World Cup event:
  • 12 group stage bidding days, with 4 matches each day (48 matches)
  • 4 round-of-sixteen bidding days, with 2 matches each day (8 matches)
  • 2 quarter final bidding days, with 2 matches each day (4 matches)
  • 2 semi final bidding days, with 1 match each day (2 matches)
  • 1 third-place bidding day (1 match)
  • 1 final match bidding day (1 match)

Initial prize pot

Every Bidding Day will share an initial prize pot to incentivize the first users to place a bet on the platform. The first Bidding Day's initial pot will allocate a 25% of the Avax from the Founder's Club NFT minting, as specified in the Use of NFT mint funds section. After that, 10% of all bets placed in a given bidding day, will be allocated as the initial prize pot for the next bidding day.
Since the amount of matches per Bidding Day varies, depending of the tournament's stage, the initial prize pot will be proportionally distributed to every match, based on the subsequent bets that the match receives.

Placing bids

Users need to place a minimum bet of 1 Avax in order to participate in any given match; the final match to determine the tournament's champion is the only one where the minimum requirement will be increased to 3 Avax. Funds gathered for every given match will be distributed as follows:
  • 60% Match Winner - for the users that pick the right winner from the match (guessing a tie is also considered as picking the right winner)
  • 10% Perfect Score - for the users that also guessed the exact match goal's score
  • 10% for the next Bidding Day initial prize pot (does not apply for the final match)
  • 5% for the Final Match prize pot (does not apply for the final match)
  • 10% for Crypto Gambit's treasury
  • 5% for Founder's Club revenue
Keep in mind that users will only be allowed to place 1 bet per match and that, for every Bidding Day, bets will be closed 15 minutes before the beginning of the first match.

Special rule for perfect score

Penalty kicks will not count to determine if a user guessed correctly the final score of a match; the tied score after the 120 minutes of the match, before the penalty kicks, will be utilized instead.

Prize pot distribution for matches

The prize pot for Match Winner and Perfect Score will be proportionally distributed to users that won, weighted by the total amount of Avax they bet.
This means that the higher your bid is, higher will be the share of the Avax prize pot you'll get in return (percentage wise, all of the users will get the same return over their bid).