Examples
Disclaimer: the following examples are only intended to give more clarity of how the bidding / prize distribution mechanics work. The figures do not represent any suggestion or commitment from the team to achieve the bidding volumes displayed or returns of those examples.
(We are also not suggesting which teams will advance for later stages of the Qatar's 2022 World Cup, we leave the fun part to you! 😄)
Remember, Gambit is a sports gaming platform with risks involved, meaning that you can lose the entirety of the funds you bid. This is why we strongly ask you to bid only funds that you are ok to lose!
Bidding Day 1 example (Groups Stage)
Let's imagine that on Bidding Day 1 (Group Stage) a total of 4,000 bids of 1 Avax are placed with the following distribution:
Match # | Fixtures | Bids | Avax | Weight |
1 | Qatar vs Ecuador | 800 | 800 | 20% |
2 | Senegal vs Netherlands | 1,200 | 1,200 | 30% |
3 | England vs Iran | 900 | 900 | 23% |
4 | USA vs Wales | 1,100 | 1,100 | 28% |
Totals | 4,000 | 4,000 | 100% |
The Initial Pot for Bidding Day 1, will be 25% of the Avax gathered from the Founders Club NFT mint event, as specified in the Use of NFT mint funds section. For the sake of this example, we will assume the price of 1 Avax per NFT, leaving an Initial Pot for Bidding Day 1 of 212.5 Avax (850 paid NFTs * 1 Avax * 25%).
Using the bidding volume weights in Avax for each match, we allocate that Initial Pot of 212.5 Avax, leaving the Total Pot in Avax per match as follows:
Match # | Fixtures | Initial Pot Distr. | Match Bids | Total Pot |
1 | Qatar vs Ecuador | 42.5 | 800 | 842.5 |
2 | Senegal vs Netherlands | 63.8 | 1,200 | 1,263.8 |
3 | England vs Iran | 47.8 | 900 | 947.8 |
4 | USA vs Wales | 58.4 | 1,100 | 1,158.4 |
Totals | 212.5 | 4,000 | 4,212.5 |
Then, we distribute the Total Pot of each match using the percentages stated in the Gambling mechanics section, leaving the distribution as follows:
Match # | Match Winner (60%) | Perfect Score (10%) | Next Day Initial Pot (10%) | Final Match Pot (5%) | Treasury (10%) | Founders Club (5%) |
1 | 505.5 | 84.3 | 84.3 | 42.1 | 84.3 | 42.1 |
2 | 758.3 | 126.4 | 126.4 | 63.2 | 126.4 | 63.2 |
3 | 568.7 | 94.8 | 94.8 | 47.4 | 94.8 | 47.4 |
4 | 695.1 | 115.8 | 115.8 | 57.9 | 115.8 | 57.9 |
Totals | 2,527.5 | 421.3 | 421.3 | 210.6 | 421.3 | 210.6 |
That translates to a total prize for the users that bid on Match Day 1 of 2,948.8 Avax (2,527.5 Avax for users that pick the correct match winner + 421.3 Avax for users that also guess the exact final goals score).
For the sake of this example, let's assume that the distribution of the 800 Avax bid for Match # 1 from all of the users is the following:
Qatar Wins | Tie | Ecuador Wins | Total | |
Avax | 400 | 120 | 280 | 800 |
% | 50% | 15% | 35% | 100% |
Now let's assume that the actual outcome of the Match # 1 was that Qatar won 1-0 to Ecuador. If your bid was:
That Qatar would win over Ecuador: then you'll split the Match Winner pot of 505.5 Avax with 400 users (400 Avax divided by 1 Avax each*), meaning you'll receive a prize of 1.263 Avax (26% return). You'll also get +0.5 points for the Gambit Leaderboard.
That the score would be exactly 1-0: then you'll also split the Perfect Score pot of 84.3 Avax with the other users that also guessed it correctly. Assuming that only 40 out of the 400 users guessed the perfect match score (10%), you'll also receive a prize of 2.108 Avax. This means you'll receive a total prize of 3.371 Avax (237% return). You'll also get an additional +0.5 points for the Gambit Leaderboard.
That the match would end in a tie or that Ecuador would win: in any of those cases you would lose the bid and wouldn't receive any Avax prize for that bid. But don't be too disappointed! You still get +1 point for the Gambit Leaderboard for placing your bid and we will also have future special perks for participants.
*Note: This simplified example assumes all users bid the same amount of Avax. In reality, bid amounts will vary amongst users and the pot will be split based on a weighted distribution of the bids they place.
Bidding Day 17 example (Quarter Finals)
Let's imagine that on Bidding Day 17 (Quarter Finals) an Initial Pot of 700 Avax was accumulated from the bids of the Bidding Day 16 and that a total of 4,000 bits of 2 Avax are placed with the following distribution:
Match # | Fixtures | Bids | Avax | Weight |
57 | Brazil vs Germany (fictional fixture) | 2,250 | 4,500 | 56% |
58 | Spain vs Belgium (fictional fixture) | 1,750 | 3,500 | 44% |
Totals | 4,000 | 8,000 | 100% |
Using the bidding volume weights in Avax for each match, we allocate the Initial Pot of 700 Avax, leaving the Total Pot in Avax per match as follows:
Match # | Fixtures | Initial Pot Distr. | Match Bids | Total Pot |
57 | Brazil vs Germany (fictional fixture) | 393.8 | 4,500 | 4,893.8 |
58 | Spain vs Belgium (fictional fixture) | 306.2 | 3,500 | 3,806.2 |
Totals | 700.0 | 8,000 | 8,700.0 |
Then, we distribute the Total Pot of each match using the percentages stated in the Gambling mechanics section, leaving the distribution as follows:
Match # | Match Winner (60%) | Perfect Score (10%) | Next Day Initial Pot (10%) | Final Match Pot (5%) | Treasury (10%) | Founders Club (5%) |
57 | 2,936.3 | 489.4 | 489.4 | 244.7 | 489.4 | 244.7 |
58 | 2,283.8 | 380.6 | 380.6 | 190.3 | 380.6 | 190.3 |
Totals | 5,220.0 | 870.0 | 870.0 | 435.0 | 870.0 | 435.0 |
That translates to a total prize for the users that bid on Match Day 17 of 6,090 Avax (5,220 Avax for users that pick the correct match winner + 870 Avax for users that also guess the exact final goals score).
For the sake of this example, let's assume that the distribution of the 4,500 Avax bid for Match # 57 from all of the users is the following:
Brazil Wins | Tie | Germany Wins | Total | |
Avax | 1,500 | 1,500 | 1,500 | 4,500 |
% | 33% | 33% | 33% | 100% |
Now let's assume that the actual outcome of the Match # 57 was a 1-1 tie after the 120 minutes (90' + 30' of extra times), before the penalty kicks. If your bid was:
That the game would end in a tie: then you'll split the Match Winner pot of 2,936.3 Avax with 750 users (1,500 Avax divided by 2 Avax each*), meaning you'll receive a prize of 3.915 Avax (96% return). You'll also get +0.5 points for the Gambit Leaderboard.
That the score would be exactly 1-1: then you'll also split the Perfect Score pot of 489.4 Avax with the other users that also guessed it correctly. Assuming that only 75 out of the 750 users guessed the perfect match score (10%), you'll also receive a prize of 6.525 Avax. This means you'll receive a total prize of 10.44 Avax (422% return). You'll also get an additional +0.5 points for the Gambit Leaderboard.
That the match would end with a win of Brazil or Germany: in any of those cases you would lose the bid and wouldn't receive any Avax prize for that bid. But don't be too disappointed! You still get +1 point for the Gambit Leaderboard for placing your bid and we will also have future special perks for participants.
*Note: This simplified example assumes all users bid the same amount of Avax. In reality, bid amounts will vary amongst users and the pot will be split based on a weighted distribution of the bids they place.
Bidding Day 22 example (Final Match)
Let's imagine that on Bidding Day 22 (Final Match) an Initial Pot of 8,800 Avax was accumulated from the bids of the Bidding Day 21 (800 Avax), plus the 5% reserved from all of the previous Bidding Days (8,000 Avax) and that a total of 10,000 bids are placed with a price 3 Avax each. That leaves the following pot in Avax:
Match # | Fixtures | Initial Pot | Match bids | Total Pot |
64 | Brazil vs Spain (fictional fixture) | 8,800 | 30,000 | 38,800 |
Then, we distribute the Total Pot of each match using the percentages stated in the Gambling mechanics section, leaving the distribution as follows:
Match # | Match Winner (73%) | Perfect Score (12%) | Treasury (10%) | Founders Club (5%) |
64 | 28,268.6 | 4,711.4 | 3,880.0 | 1,940.0 |
That translates to a total prize for the users that bid on the Final Match of 32,980 Avax (28,268.6 Avax for users that pick the correct match winner + 4,711.4 Avax for users that also guess the exact final goals score).
For the sake of this example, let's assume that the distribution of the 10,000 Avax bid for the Final Match from all of the users is the following:
Brazil Wins | Tie | Spain Wins | Total | |
Avax | 15,000 | 6,000 | 9,000 | 30,000 |
% | 50% | 20% | 30% | 100% |
Now let's assume that the actual outcome of the Final Match was that Spain wins 2-0 to Brazil. If your bid was:
That Spain would win the game: then you'll split the Match Winner pot of 28,268.6 Avax with 3,000 users (9,000 Avax divided by 3 Avax each*), meaning you'll receive a prize of 9.423 Avax (214% return). You'll also get +0.5 points for the Gambit Leaderboard.
That the score would be exactly 2-0: then you'll also split the Perfect Score pot of 4,711.4 Avax with the other users that also guessed it correctly. Assuming that only 300 out of the 3,000 users guessed the perfect match score (10%), you'll also receive a prize of 15.705 Avax. This means you'll receive a total prize of 25.128 Avax (737% return). You'll also get an additional +0.5 points for the Gambit Leaderboard.
That the match would end with a win of Brazil or a draw: in any of those cases you would lose the bid and wouldn't receive any Avax prize for that bid. But don't be too disappointed! You still get +1 point for the Gambit Leaderboard for placing your bid and we will also have future special perks for participants.
*Note: This simplified example assumes all users bid the same amount of Avax. In reality, bid amounts will vary amongst users and the pot will be split based on a weighted distribution of the bids they place.
Founders Club revenue distribution
Let's assume that, after the Qatar's 2022 World Cup bidding event ends, a total of 200,000 Avax is processed in bids. That would mean that 10,000 Avax (5%) would be allocated for the Founders Club revenue distribution.
Under that hypothetical scenario, the 10,000 Avax would then be equally split amongst the 1,000 Founders Club members, meaning that every member would receive 10 Avax as revenue (900% return over their initial investment in the Founders Club NFT event).
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