SteemSports, ChessMasters and Related Accounts: Game Rules

in steemsports •  3 years ago  (edited)

SteemSports and ChessMasters Ultimate Vote Betting … together we all can win!


@steemsports and @chessmasters are a division of @bitsports umbrella corp; all games are played on the Steem Graphene based blockchain in a provably fair manner, payouts are received in Steem Power and Steem Dollars paid into the Steem account of the user.


How to Play via Steemit.com Frontend

Note: The user gameplay experience will vary on our custom front-ends; however all front-ends are linked to the same Steem blockchain Stake Pool(s),.

"Operator" refers to Steem blockchain based game account such @steemsports or @chessmasters used to post and host the particular game being played.


  • Vote on the main post to enter the bet (main post rewards will also be added to the Stake Pool)

  • Cast your Vote Bet on ONLY ONE outcome in the comments, for which you bet on for the win (Multiple comment votes will be automatically disqualified by the script, unvote and revote counts as multiple votes and will be disqualified).

  • After 24 hours, the post and related game comments payout to the pool; remember 25% voters rewards are deducted from the total visible post payout value first as per Steem blockchain curation rules. Voters are rewarded for curation in standard fashion in proportion to their Steem Power holdings, but this is not part of the stake pool, this refers to the additional curation rewards that voters will earn by upvoting one of the operator's popular posts.

The Stake Pool:

  • The remaining 75% of the total payout is paid out by the blockchain to the operator in 50% Steem Power and 50% liquid currencies (Steem and SBD), the liquid currency ratio may vary according to the blockchain rules as amended from time to time.

  • The Liquid currencies will form the Stake Pool.

  • 30% of the Stake Pool will be retained by the operator, of which 15% will go to the writer/sports presenter of the post, and the 15% balance towards editor(s), development, advertising and other petties.

  • 70% of the liquid Stake Pool will be held by the operator until the event/game outcome is determined.

  • Once the winning outcome is determined, the operator will execute a proprietary developed application that will divide and pay out the Steem liquid rewards equally, using the Power Up method, to Mass Distribute SP to all participants that voted on the main post as the entrance fee as well as voted on the correct comment representing the winning outcome.

  • Steem liquid rewards will be distributed in Steem Power, Steem Dollar rewards will be distributed as Steem Dollars.

  • Game payout variances can occur, the default is equal mode where all liquid rewards are distributed equally per winner irrespective of the winner's reward shares imparted on the post which are derived from the users' Steem Power holding, vote weight and how early the post was voted on by the user.

  • Other variances can include rshares mode which will pay out either one of the liquid currency types or both in accordance to the users' rshares contibution to the post, which typically favours "whale" users with high Steem Power holdings and incentivises such users to take part.

  • Hybrid modes could see one currency paid out in equal mode and another in rshares. Such variances to the default will be announced in the post and/or frontend.

  • Only participants with a Steem blockchain reputation of 35 or more will qualify to earn Steem Power (SP) rewards, but non-qualifiers can still vote and comment in support of the redistribution initiative.

  • A vote weight of 50% minimum on either the main post or comment is required. "Whale accounts of 100 000 or more Steem Power (SP) may vote with a 10% minimum vote weight.

  • Entry cut-off time is the earlier of the post payout or the start of the event.


Disclaimer:


  • Images used in this post are either paid for and modified, are Creative Commons (CC) or image credits supplied.

  • Note the views and predictions of the presenters are their own personal views and do not reflect the views and opinions of the operator, stakeholders or umbrella corporation.

  • The operator and related persons, entities and accounts do not offer betting advice.

  • Errors and Omissions Excepted (E&OE). the games are currently beta, currently no liability will be assumed for errors.

  • The operator reserves the right to amend future payout percentages based on the operation needs of the account.

  • This is not a traditional betting platform and no fiat currency is used as rewards or in casting bets; as such does not fall under any gaming and gambling jurisdictions; but even so, users are urged to first consult with the laws and age restrictions of their country of domicile.

  • In the unlikely event that when the Stake Pool is divided up between the winners and the nomenclature resolution goes below the third decimal place (example: 0.0001), then Steem decimal restrictions won’t allow a payout and the pool will carry over to the next game.

  • Please vote responsibly :).


Copyright © @bitsports ( @furion & @thecryptodrive ) 2016


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