BLOCKBET

BLOCKBET

Wagering Rules

Current planned rules for Bitcoin block prediction wagers.

Wager breakdown by level

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Wagers are paid in Coins

Wagers are placed with Coins, and prizes are paid to your Coin balance when the target block is mined. Your email address must be verified before you can wager.

Predictions and winners

  • The five closest wagered amounts to the amount actually sent, without going over, are the winning amounts.
  • A player may have more than one winning amount in a single round.
  • Players who wager on the same winning amount split the prize for that amount evenly.
  • No amount greater than the amount actually sent can be a winning amount.
  • When a block is found, its total amount sent is rounded to the nearest whole Bitcoin. That rounded number is the winning amount. See the rounding example and rules.
  • The actual amount sent is used to calculate the 60% and 35% thresholds that adjust prize payouts. See the payout adjustment example.
  • If fewer than five distinct eligible amounts are available, shares for the unfilled ranks remain undistributed.
  • A wager not received by the time the wagering period ends will not be accepted for any reason.
  • Website malfunctions, server errors, or other technical problems will not extend the wagering period or allow a late wager.
  • If a round ends while you are entering a wager, that wager will be placed in the next round and cannot be refunded.
  • Situations not covered by these rules will be reviewed case by case. Decisions are at the sole discretion of the website owners or operators.

Regular prize pool and payouts

For each wager, 20% is allocated evenly between the jackpot and rake: 10% of the wager goes to that wager level’s separate jackpot, and 10% is recorded as rake income. The remaining 80% goes to the regular prize pool for that wager level and target block.

  1. 1st place: 45% of the regular prize pool
  2. 2nd place: 25%
  3. 3rd place: 15%
  4. 4th place: 10%
  5. 5th place: 5%

If users tie at a winning amount, that amount’s scheduled prize is divided evenly among those users. Any payout reductions and the distribution of the reduced portions are described below.

Fee and jackpot allocation

The 20% allocation is divided evenly as follows:

  • 10% of the wager is added to that wager level’s separate jackpot.
  • 10% of the wager is recorded as rake income.

For example, a 5,000-Coin wager allocates 4,000 Coins to the regular prize pool, 500 Coins to the jackpot, and 500 Coins to rake.

Separate jackpot

  • Each wager level has its own jackpot and minimum jackpot.
  • An exact prediction is required to win the jackpot. The jackpot is separate from the regular prize pool and its five-place payout schedule.

Bitcoin rounding example

When a Bitcoin block is mined, its total amount sent is recorded in satoshis. To convert that amount to Bitcoin, divide by 100,000,000.

For example, a total of 369,157,258,154 satoshis is:

369,157,258,154 ÷ 100,000,000 = 3,691.57258154 BTC

Round to the nearest whole Bitcoin by looking at the first digit after the decimal point. If it is 5 or higher, round up; if it is 4 or lower, round down. In this example, the winning amount is 3,692 BTC.

Payout adjustment example

Compare each winning amount against thresholds calculated from the actual amount sent in the block:

  • A winning amount below 60% of the actual amount receives two-thirds of its stated payout.
  • A winning amount below 35% of the actual amount receives one-half of its stated payout instead.
  • The portion removed from a reduced payout is divided evenly: half goes to the jackpot and half to the house. The house share helps fund rewards programs, level rewards, extra bonuses, and the faucet.

For an actual amount sent of 4,532 BTC, the 60% threshold is 4,532 × 0.60 = 2,719.2, which rounds to 2,719 BTC. The 35% threshold is 4,532 × 0.35 = 1,586.2, which rounds to 1,586 BTC.

The five winning amounts and their payout treatment in this example are:

  1. 4,210 BTC: above both thresholds; receives the full stated payout.
  2. 3,966 BTC: above both thresholds; receives the full stated payout.
  3. 3,275 BTC: above both thresholds; receives the full stated payout.
  4. 2,450 BTC: below 2,719 BTC but above 1,586 BTC; receives two-thirds of the stated payout. The remaining third is split evenly between the jackpot and the house.
  5. 1,420 BTC: below 1,586 BTC; receives one-half of the stated payout. The remaining half is split evenly between the jackpot and the house.

These rules may be expanded as the site is developed. Any additional rules will be published here.