Backing
Back a player before a contest starts and share the losing pool if they win.
Not live yet
Backing is built and tested but is not enabled yet. It will be switched on together with its on-chain flag shortly after launch.
Backing lets spectators bet on a player. It uses the same escrow as the contest: your backing goes into the contest's escrow and is paid out by the program.
How it works
- When a contest with backing allowed fills up, it enters
PREPARINGfor 5 minutes before the start. - During that phase, anyone can back one side from $1.00 to $1,000.00, up to $2,000.00 per player per contest.
- When the contest settles, the backers of the winning side get their backing back plus a pro-rata share of the losing side's pool, minus a 3% fee on that pool.
- If the contest is a draw, is refunded or is cancelled, every backer gets their full backing back.
Players cannot back a contest they are in, and backers cannot then join it: the program enforces both. The backing pools are shown live on the contest page.
Example
Side A has $300 of backing and side B has $100. A wins. The $100 pool, minus the fee, is shared between A's backers pro rata: someone who backed A with $30 (10% of A's pool) gets their $30 back plus 10% of B's pool after the fee.