📜Betting Rules

General Rules for Grading Sporting Events

The following rules apply to Paradox betting contracts:

Final Results are Final

Once a pool is graded (i.e., the score is entered on-chain) the result is final. In no circumstances can the final result be updated once it is input.

Pools will be graded within 48 hours of event completion, but will often be graded within minutes of event completion. In circumstances where the final results change after the results have been input on-chain, the results that were input on-chain will be the results honored by the pool. The time at which it is appropriate to grade a pool is at the sole and exclusive discretion of the Game Grading Multisig.

For example, in golf, sometimes penalties may be added well after golfers finish their rounds. In F1, penalties can be added or removed well after the completion of the race.

Refunds

The bet can ONLY be refunded if the entire pool is refunded. Pools will only be refunded if a) the event is cancelled (e.g., Rain Out), b) the actual or expected start time is more than 24 hours after the start time in the pool, c) there is a "No Contest", d) there is no winner declared, e) a bet is made on "if a player scores a goal" or "who will score the most points today" and the player never plays in the game or f) the event finishes before the pool is started. In no other circumstance will any bet be refunded by the pool.

Bets on a player or team that does not participate in the event or tournament will NOT be refunded, unless there is a "No Contest".

For example, if you bet on a golfer that does not play or a team that is disqualified before the tournament begins, your bet will not be refunded.

For example, if Qatar is playing Brazil in the semifinals, and Brazil is disqualified from the tournament and Qatar advances without playing, this single-game bet will be refunded. Conversely, if there was a pool with other teams (for example who will win the tournament), this event will be not refunded.

Changing Start Time

Game Admin Multisig has the ability to manually close a pool before the start time if a game is starting early. This will publicly be disclosed on Discord, as we would like to keep this process as transparent as possible. Everyone will be able to see on the blockchain what time the pool was closed, even if it does not update the UI.

We will default to entering the results of an ambiguous event based on how Pinnacle grades it.