Exchange fees and coin rules

Fees

A taker pays a fee on each fill: 6% × contracts × price × (1 − price), with the price in coins (62¢ is 0.62), rounded up to the next hundredth of a coin once per price level taken.

Example: buying 100 contracts at 63¢ with a 6% rate costs 63.00 coins and a 1.40 coins fee.

Makers trade free: an order that rests on the book and is filled later pays no fee, and the house pays none.

The fee is always shown on its own line on the ticket and the statement.

Contracts and prices

Each contract pays 1 coin if its side wins and nothing if it loses. Prices are cents of a coin: 100 contracts at 62¢ cost 62 coins and pay 100 coins.

New purchases start at 100 contracts. Selling, or buying the other side to close contracts you hold, can be smaller.

Your coins

Claim 2,500.00 coins every 24 hours in your exchange wallet, whatever your balance. There is no sign-up bonus.

The exchange wallet is separate from the practice site's coins: they never mix.

Settlement

• Sports results pay about 15 minutes after the final score. A corrected score recorded inside those 15 minutes replaces the first one.
• Quarter, half, period, inning and set markets, soccer games and leagues outside the automatic list are reviewed before they pay: by the live score feed when its period scores add up to the final score and match it, otherwise by an Event366 administrator.
• Markets created by Event366 (politics, economics and others) pay when their result is recorded from the official source named in their rules, without a delay.

Voids

A voided market pays its last fair price, captured when trading stopped: each Yes contract receives that price and each No contract the rest of the coin (for example 54¢ and 46¢). Voids pay at once.