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Start with basketball, settlement or Bitcoin rounds. Listen to a lesson, or speak a question and review the words before asking.
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How to play
Event366 uses free virtual coins with no cash value. Create an account, open a market, read its Market Rules, choose an outcome and review the price and quantity before confirming. New practice purchases require at least 100 contracts. For example, 100 contracts at 60 cents cost 60 virtual coins. If that side wins, those contracts pay 100 coins in total, a 40-coin gain before any other activity. If that side loses, they pay zero and you lose the 60 coins spent. An unfilled order is not a completed purchase. The practice site and exchange have separate wallets. This lesson describes the practice site.
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One lesson at a time
Reviewed 2026-10-19. Teaching examples are hypothetical. Each market’s published rules govern its result.
Basketball: NBA basics
In NBA basketball, a basket from on or inside the three-point line scores two points, a basket from beyond it scores three, and a free throw scores one. Regulation has four 12-minute quarters. If the score is tied after regulation, five-minute overtime periods are played until there is a winner. The game clock stops for specified stoppages; it is not a continuous wall clock. Other leagues have different rules. A market on the first half uses that half's result, not the final game score. Whether overtime counts for a prediction depends on its Market Rules. Source: NBA Official, Rule 5, Scoring and Timing.
How settlement works
Settlement determines a prediction's official result and applies its payout. Read the exact question, selected side, covered period and published Market Rules before entering. Check the required result source and whether overtime counts. Trading close, the end of the game and confirmed settlement can happen at different times. On Event366's practice site, a winning Yes or No contract pays one virtual coin and a losing contract pays zero. For example, 100 winning contracts pay 100 coins in total, not 100 coins plus the purchase cost. A result still awaiting confirmation is not a guaranteed win. Cancellations, ties, players who do not play and corrected statistics need the specific market's rules; this guide does not promise a refund or settlement deadline. If the rules do not answer your question, contact support@event366.com with the market title. The assistant cannot settle a market or change your balance.
Kalshi: a settlement comparison
Kalshi explains that settlement follows confirmation of the official outcome and finalization of the result. The named source and market-specific determination rules matter; trading close time may differ from determination time. Player participation and other exceptions depend on the particular market. This is a comparison of Kalshi's public explanation, not Event366's settlement policy. Kalshi's cash payouts, deadlines, dispute procedures and special exceptions do not automatically apply to Event366. Event366 practice uses virtual coins. Source: Kalshi Help Center, Market FAQs.
How to play
Event366 uses free virtual coins with no cash value. Create an account, open a market, read its Market Rules, choose an outcome and review the price and quantity before confirming. New practice purchases require at least 100 contracts. For example, 100 contracts at 60 cents cost 60 virtual coins. If that side wins, those contracts pay 100 coins in total, a 40-coin gain before any other activity. If that side loses, they pay zero and you lose the 60 coins spent. An unfilled order is not a completed purchase. The practice site and exchange have separate wallets. This lesson describes the practice site.
Moneyline
A moneyline is a selection on who wins a game, without a points handicap. A favorite is considered more likely to win; that does not guarantee the result. Check the specific market's rules for ties and overtime. Sportsbook odds and Event366's virtual-coin contract prices are different ways of displaying a market; a sportsbook price is not a promise of the price or payout on Event366.
Point spreads
A point spread is a handicap used to compare the teams. In a teaching example, Team A minus 3.5 must win by at least 4 points to cover. Team B plus 3.5 covers if it wins or loses by 3 points or fewer. These are hypothetical teams and numbers, not a recommended pick. A result exactly on a whole-number line can have special treatment: read that market's published rules rather than assuming a refund.
Over and under
An over/under, or total, asks whether a statistic finishes above or below a stated line. For a combined game-points total of 45.5, a final score of 24 to 21 adds to 45, so it is under. A score of 24 to 22 adds to 46, so it is over. These are hypothetical examples. Check whether the market covers the full game, a half or a quarter, and whether overtime counts. Exact equality on a whole-number line follows that market's own rules.
Halves, quarters and player props
A first-half market covers the first half, while a quarter market covers the named quarter. A player prop concerns a named player's statistic, such as points scored or passing yards. Availability varies by game and bookmaker. Check the named period, statistic, participation conditions and overtime rules on the actual market. This glossary does not mean every market type is available on Event366.
Combos and parlays
A combo or parlay combines multiple selections. Its exact win, void and payout conditions depend on the offered ticket's rules. Same-game selections can be related, so multiplying individual odds does not necessarily reproduce a bookmaker's combined price. Do not assume Event366 offers a bookmaker-priced combo just because individual selections are visible.
Bitcoin 15-minute rounds
A Bitcoin 15-minute round compares its closing reference price with its opening reference price. Up, or Yes, wins if the closing observation is higher or equal. Down, or No, wins if it is lower. A tie resolves Up. Trading stops one minute before the deadline, even though the round countdown continues. The opening and closing references are the first successful Event366 observations within 30 seconds after each boundary, not guaranteed exact-second exchange ticks. If a required observation is missed, settlement stays pending review. Current exchange-source rounds use Coinbase, with Kraken as a fallback for an observation Coinbase did not answer; prices are not averaged. The live Bitcoin dollar ticker is not the contract's coin price or a guaranteed settlement price. Read the specific round's Market Rules and source. A winning contract pays one virtual coin. The separate Bitcoin year-end target has different rules.
Try a Bitcoin example
Imagine a 15-minute Bitcoin round opens at 100,000 dollars. If its valid closing reference is 100,010 dollars, Up wins. If it is 99,990 dollars, Down wins. If it is exactly 100,000 dollars, Up wins because ties resolve Up. These are made-up teaching prices, not live prices or predictions. The result uses the round's recorded reference observations; a countdown reaching zero alone does not establish the result.