Each Prediction Game round has three specific phases that you follow:
Entering Position: You choose your prediction - either to UP or to DOWN
Live and Locked: You see how the odds are set, according to what all players entered their positions, and the price for the round will be set and locked at the end
Payout: You find out whether you have won or lost. You will receive a reward if you won
Essentially if you enter a UP position and the actual closed price is higher than the previous price at the end of the round, you WIN! If it’s lower, then you LOSE!
And vice versa.
Each step for the prediction game
Let’s see what happens in each phase in detail.
Phase 1 - Entering Position
At the beginning of the round, you can choose to enter either a UP or DOWN position based on what they think the price will be at the end of the time period(30 blocks). Only during this phase can users enter positions and deposit funds for betting.
During this phase, the start price is locked in and users can see in real-time how the price is changing. You can also see the odds of your payout change over time, depending on how many people are betting on UP or DOWN.
Let’s say, user A enters a DOWN position with $82, betting the price will go down. User B starts to enter a UP position with $18 as the odds change over time. Now, we have a total of $100 in the prize pool.
In this phase, you tick the disclaimer and bet the amount in dollars: $5, $20, or $100
The actual amount of PGT or BNB you have to pay for the bet changes every time
Once you have decided which token you're going to use to pay the bet (either PGT or BNB), click that token and approve the transaction in your wallet.
After betting, you can go to Account to check the bet status, and claim the amount if they win (in PGT).
If you won the round, you'll get PGT rewards! All you need to do is to click that 'Claim xxx PGT' and confirm the transaction in your wallet.
Phase 2 - Live and Locked
When the time period ends, the pool will be locked and the closing price will be set. It’s time to determine who the winner is.
Once your bet is placed and the round is locked, you can share your bet on Twitter! We encourage you to share this fun game with your friends as much as possible. Thank you!
Phase 3 - Payout
Once the closing price is determined, users that made the correct prediction will be rewarded accordingly.
So this is how we calculate the rewards:
Payout odds for UP = Total deposit amount of both pools ÷ deposit amount of UP pool
Payout odds for DOWN = Total deposit amount of both pools ÷ deposit amount of DOWN pool
In the case of the example above, Payout odds for UP would be 5.5 (99 ÷ 18) Payout odds for DOWN would be 1.21 (99 ÷ 82)
Once the round is finished, a 1% house fee is deducted from the pool when the rewards are distributed. Now we have $99 in the pool for the rewards.
Collecting the payout
The simplest way to cash out your payout on Prediction WTF is to claim your PGT token when the result of the round is revealed and you won. When you won the round, you’ll automatically earn PGT tokens for every bet you won.
You can either use PGT to bet in the next round or stake PGT for more!