Bet rules

Last updated: June 5, 2023

1. You fully understand the general methods, rules, and procedures of services and online betting. You assure that you will not take action to damage the reputation of the DAO of the bookmaker.xyz (hereinafter referred to as «DAO»).

2. You are responsible for the accuracy of information about any transactions that you make before you confirm your bet during the betting process.

3. You are fully aware of the possibility of losing your money in the process of betting and are responsible for any losses connected with placing bets on smart contracts through the Website. You confirm that you use the Website by your choice and at your own risk. You have no right to lay a claim to anything connected with your losses to the DAO or any member of the DAO.

4. All transactions are only considered accepted once such data has been stored on the blockchain and the transaction hash has been received. The transaction hash is a unique identifier of any transaction sent to the blockchain. If your transaction has not been stored on the blockchain, ensure all procedures were done correctly. If you have checked everything and still have transaction problems, please get in touch with the support service. Transactions may also fall through due to blockchain load or other technical issues unrelated to the Website.

5. The official Website time is GMT. All promotional activities and promotions work in accordance with the specified time.

6. Before placing a bet, users shall get familiar with the conditions of bet acceptance and any formulas related to the calculation of winnings.

7. Bets are accepted only by users who agree with the terms and conditions established by the DAO and these rules. Every placed bet is an unconditional confirmation that the User understands these rules and fully agrees with them.

8. All bets are accepted exactly before the actual start of the event. This means that if, for example, an event starts at 10:00 GMT – you can place bets exactly until 10:00 GMT. Bets made after the actual start of the event may be canceled.

9. You acknowledge and agree that all bets are final and non-refundable. However, if the smart-contract considers any of the bets invalid, e.g., due to a change or cancellation of the event to which the bet was made, the bet amount would be returned to your cryptocurrency wallet by the smart-contract.

10. All bets are accepted based on the events in pre-match, according to the odds determined by the information stored on the Azuro protocol. Each event has an ID number, as well as a deadline time of accepting bets. The date and time of the beginning of the event, indicated in the pre-match, are informative. A wrong date is not a substantial reason for canceling a bet. If the event took place earlier or later than the originally announced date, the result is not considered void. In this case, bets are considered valid if they are made before the actual start of the event. Bets made after the actual start of the event may be cancelled. To settle the bet, the time of the actual start of the event is taken, which is determined based on the information stored on the Azuro protocol which the Data provider provides.

11. If an event that has not yet started is postponed for no longer than 24 hours, the bets are retained, and if more than 24 hours, the bets are refundable if nothing else is stipulated by smart-contract. If within 24 hours it becomes known that the event is postponed for more than 24 hours, the final decision as to whether the stakes will remain in force or will be returned is up to the discretion of the DAO's data providers.

12. Bets are considered canceled and refundable, regardless of whether or not they are winning or losing, if there are any errors committed due to a human factor or a software malfunction (including obvious typos, inconsistencies of odds in different positions, knowingly erroneous odds that don't correspond to the given outcomes, etc.).

13. If a technical error occurs but can not affect the event's outcome, such bets are settled based on the original odds.

14. The DAO is not responsible for accurate translations of the names of players, teams, and cities where events will occur. In such cases, bets are considered valid.

15. The maximum possible win of one bet is not limited except for express bet, where the maximum possible win is 250 000 xDAI,250 000 USDt.

16. The minimum bet is 1 xDAI, 1 USDt.

17. The bet is considered accepted after such data has been stored on the blockchain and the transaction hash has been received. Registered bets are not subject to cancellation. The reception time of the bet is the time of its registration on the server.

18. Bets on credit are not accepted. When placing a bet, the bet amount is sent from the User’s wallet to the Azuro Protocol Smart contracts. This is an on-chain transaction. The User, in exchange, receives an NFT in his wallet, which contains data about the amount of the bet, the odds, and other properties of the bet. To receive their winnings in the wallet, the User - must execute another on-chain transaction (redeem bet). A bet is considered to be won by the User if all the outcomes specified in such a bet are guessed correctly.

19. The fact of the accepted bet being won or not is determined by recording the fact of the chosen event or set of events having taken place, considering the outcome (result) of the event. The outcome (result) of the event is determined based on the information provided by the data oracles. If the initial result of the event has been revoked for some reason, later on, this fact isn’t considered and the bets are payable according to the initial (actual) results except if the original published results of the event are amended within 24 hours of their initial publication.

20. If the initial result of the completed event was later canceled for any reason, the cancellation is not taken into account, and the rates are to be paid according to the initial (actual) result. The result is declared based on official protocols and other official sources of information immediately after the event is deemed actual. In the absence of results from official sources, the DAO has the right to use alternative sources of information, including the information of its representatives at the match.