Betting Rules

Last updated: Aug 6, 2023

1. You fully understand the general methods, rules, and procedures of services and online betting. You assure that you will not take action to damage the reputation of the DAO of the JuicyBet (hereinafter referred to as «DAO»).

2. You are responsible for the accuracy of information about any transactions you make before confirming your bet during the betting process.

3. You are fully aware of the possibility of losing your money while betting. You are responsible for any losses connected with placing bets on smart contracts through the Website. You confirm that you use the Website by your choice and at your own risk. You have no right to lay a claim to anything connected with your losses to the DAO or any member of the DAO.

4. If you violate the Terms & Conditions (hereinafter «Terms of Use»), we have the right to refuse partially or completely (at our discretion) to conduct any transaction that you request. All transactions are not accepted until such data has been stored on the blockchain and the transaction hash has been received. The transaction hash is a unique identifier of any transaction sent to the blockchain. If your transaction has not been stored on the blockchain, ensure all procedures were done correctly. If you have checked everything and still have transaction problems, please get in touch with the support service. Transactions may also fall through due to blockchain load or other technical issues unrelated to the Website.

5. The official Website time is GMT. All promotional activities and promotions work in accordance with the specified time.

6. Before placing a bet, users shall get familiar with the conditions of bet acceptance and any formulas related to the calculation of winnings.

7. Bets are accepted only by users who agree with the terms and conditions established by the DAO and these rules. Every placed bet is an unconditional confirmation that the User understands and fully agrees with these rules.

8. All bets are accepted exactly before the actual start of the event. This means that if, for example, an event starts at 10:00 GMT – you can place bets exactly until 10:00 GMT. Bets made after the actual start of the event, regardless of the reason, are recognized as invalid.

9. The DAO is entitled to return the amount of a bet made at any time before the actual start of the event. In this case, the bets made (the bids made) are recognized as invalid, which the DAO reports by appropriate changes in the pre-match event list or through other sources of information.

10. When the bet is recognized as invalid, it is subject to return.

11. All bets are accepted based on the events in pre-match, according to the odds determined by the information stored on the Azuro protocol. Each event has an ID number, as well as a deadline time of accepting bets. The date and time of the beginning of the event, indicated in the pre-match, are informative. A wrong date is not a substantial reason for canceling a bet. If the event took place earlier or later than the originally announced date, the result is not considered void. In this case, bets are considered valid if they are made before the actual start of the event. Bets made after the actual start of the event are considered void. To settle the bet, the time of the actual start of the event is taken, which is determined based on the information stored on the Azuro protocol provided by the Data provider.

12. If an event that has not yet started is postponed for no longer than 24 hours, the bets are retained, and if more than 24 hours, the bets are refundable if this regulation stipulates nothing else. If within 24 hours it becomes known that the event is postponed for more than 24 hours, the final decision as to whether the stakes will remain in force or will be returned is up to the discretion of the DAO's data providers.

13. Bets are considered canceled and refundable, regardless of whether or not they are winning or losing, if there are any errors committed due to a human factor or a software malfunction (including obvious typos, inconsistencies of odds in different positions, knowingly erroneous odds that don’t correspond to the given outcomes, etc.).

14. If a technical error occurs but can not affect the event's outcome accurately translating, such bets are settled based on the original odds.

15. The DAO is not responsible for accurate translations of the names of players, teams, and cities where events will occur. In such cases, bets are considered valid.

16. In the event of fraudulent actions, falsifications when accepting bets, or when the DAO discovers illegal financial transactions, no winnings are paid, and violators are banned from the website. If there are obvious signs of unsportsmanlike conduct or other cases of violation of these rules, the administration has the right to declare the bet invalid.

17. The maximum possible win of one bet is not limited.

18. The minimum bet is 1 xDAI.

19. The bet is accepted after such data has been stored on the blockchain and the transaction hash has been received. Registered bets are not subject to cancellation. The reception time of the bet is the time of its registration on the server.

20. Bets on credit are not accepted. When placing a bet, the bet amount is sent from the User’s wallet to the Azuro Protocol Smart contracts. This is an on-chain transaction. The User, in exchange, receives an NFT in his wallet, which contains data about the amount of the bet, the odds, and other properties of the bet. To receive their winnings in the wallet, the User - must execute another on-chain transaction (redeem bet). A bet is considered to be won by the User if all the outcomes specified in such a bet are guessed correctly.

21. The fact of the accepted bet being won or not is determined by recording the chosen event or set of events, considering the event's outcome (result). The outcome (result) of the event is determined based on the information provided by the data oracles. If the initial result of the event has been revoked for some reason later on, this fact isn’t considered, and the bets are payable according to the initial (actual) results except if the original published results of the event are amended within 24 hours of their initial publication.

22. If the initial result of the completed event was later canceled for any reason, the cancellation is not taken into account, and the rates are to be paid according to the initial (actual) result. The result is declared based on official protocols and other official sources of information immediately after the event is deemed actual. Without results from official sources, the DAO has the right to use alternative sources of information, including the information of its representatives at the match.

23. Additional rules may apply to some bets on certain events and/or lines of events. For additional information, please check the documents available on the Website.