How does a bet end ?
Bets on DegenHouse can conclude in several ways, each with its own set of rules and outcomes. Here's a breakdown of how a bet ends and the implications for participants:
1. Bet Creator Cancels the Bet
Reason for Cancellation: Typically, this occurs due to a change of mind by the bet creator.
Penalty for Cancellation:
In the case of ERC20 token bets, the penalty equals the royalty percentage of the bet amount.
2. Bet Expires
Expiration Conditions: A bet expires if no one joins it by the 'join until time'.
Implications of Expiration:
For ERC20 bets, a minimal cost to cover the gas fee is deducted from the user's account.
3. Bet Settles
Settlement Conditions: A bet settles when there are two participants, and the conditions are met, or the condition does not meet by the settlement time.
Bet Rewards
ERC20 Bets
Reward for Winning: If the bet settles, the winner will receive the collateral amount to their deposit.
NFT Bets
Claiming the NFT: The winner will need to claim the NFTs as their reward.
In Case of Expiration or Cancellation
Reclaiming NFTs: If a bet expires or is cancelled by the user, they will have the opportunity to reclaim their NFTs.
By understanding these end conditions and rewards, participants can make informed decisions when engaging in bets on DegenHouse. It's important to be aware of the potential penalties and the process for claiming rewards to ensure a smooth and enjoyable betting experience.
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