Rules and instructions
Betinance is a p2p Bitcoin betting platform. The goal is to guess whether bitcoin price will go up or down. Specifically BTC/USDT ration that is being taken from Binance.com. Bitcoin is the only accounting unit on the platform.
There will be a base price updated every 3 minutes that can be seen for the whole time of the current round. There is a bitcoin price updated every second so you can observe price movements in real time.
Your goal is to guess within the 3 minutes (active round) if the final price (current price after 9 minutes) will be higher or lower than the base price.
You can bet on UP trend or DOWN trend. Your bets are locked at the end of each round and you have to wait until the result is know. Every round is independent from a previous one.
There comes the draw after 9 minutes is gone. The base price is compared with final price and winners of the round are announced.
At the moment of the draw, BTC/USDT rate is frozen in a current price of that moment which becomes a final price. When final price is displayed the round is finished.
If you placed bet on the correct side (i.e. you bet UP when final price was higher than the base price), you are entitled to receive your placed bet back plus the bets of losing bets without the plaform fee. Your reward is then proportionally calculated in comparison to other winning bettors.
If there are more deposits on your side then the winning amount is split according to ratio of your bet and the rest of the bets on your side. The higher your bet is bigger your part from all bets on the losing side will be.
It is possible to make long and short bets simultaneously. However, in this case consideration must be given to a possible 6% loss (system fee from payoff).
IT IS IMPOSSIBLE to cancel or modify already existing bets!
You are unable to place bets as soon as the active round finishes (the 3 minute countdown)
The minimum bet amount is 0.0001 BTC
The maximum bet amount in one round is 60 BTC.
A bet must be divisible by the minimum bet amount.
The minimum deposit is 0,0001 BTC
The minimum withdraw is 0,001 BTC (withdrawals from accounts with no deposit will not be processed)
The maximum deposit is 100 BTC
The maximum withdraw in automated mode is 2 BTC
All the bets" statistics from the last round compared to your bets are displayed in rounds history. More detailed information is visible in you backoffice
Besides the already mentioned information there are important facts to know
a) Round number - is an unique number the round.
b) Total bets - is a total value of long and short bets.
c) Your bets - is a total value of your bets.
d) You can also see users" bets in the current round. After the round is done you can see only stats of all the bets in the round history.
The countdowns and round balance shows following:
a) Active round countdown – shows the remaining time to place your bets for a round. For example, you have 1:15 minutes to place a bet within this round.
b) Draw expectancy stage: 3:23 - time remaining until the completion of the drawing. When this countdown comes to zero base price is compared to the final price.
c) Status: done - drawing is successfully completed; you can click on the icon of the magnifier and you can see all the bets of all users and their result.
d) Status: cancelled – drawing was canceled. (point 18)
Distribution of the won funds is distributed automatically to winner"s Betinance accounts. You don’t need to wait for ages or to do anything.
The System fee is calculated and written off automatically in the volume of 6 % from the winnings.
Drawing is cancelled if
a) there are no placed bets in a round
b) all bets were placed for one position (either long or short).
c) if the final price matches with base price.
In case of cancelation of the draw all bets go back to users who had placed bets without charging a service fee.