- Registration and referral system
- Bet creation
- Bet participation
- Bet resolution
- Bet trading
- Free Bets
- Bet disputes
How do I register?
Simply fill out the Registration form. Immediately, you will receive a verification email. Once the confirmation process is completed, you'll be able to play.
Who's the referrer?
Is whoever told you about Betmul. By selecting the person that referred you, you become part of his/her network of associates.
Your referrer earns Bitcoins with your betting activity, the same way you will earn Bitcoins from the betting activity of people who select you as their referrer; so it's better to select someone you know! If you don't select anyone, you will have Betmul as your referrer. You may start building your network of associates immediately after registration is completed.
Do I make Bitcoins if I tell someone about Betmul but they select someone else as their referrer?
No! We have no way of being sure who referred who unless they tell us. Make sure the people you convince to join Betmul select you as their referrer.
How does the referral system works?
It's very simple. Everyone you invite to join Betmul and select you as their referrer will become your "child", or descendant. In turn, everyone your children invite to join will become your grandchildren.
Betmul will give you a commission every time your children and grandchildren make a bet and another commission every time they win a bet.
There's no limit to the number of children or grandchildren you may have. However, any user will have only one parent and one grandparent.
How do I invite others?
Simply use of the many connectivity resources available in the Invite your Friends section. You may use social networks and/or email contacts. However, it's always better to talk them into it, either by phone, online or in person.
Will I know who are in my network?
Yes. You will know who are your children and grandchildren.
How do I create a bet?
Simply go to the Create a Bet section and follow the tips and guidelines set up there.
Can I edit a bet I created?
You may edit a bet before it's published. You can't change anything after afterwards.
What topics can the bets be about?
Anything! Your imagination is the limit!
We run periodic controls on the topics of the bets and their wording and we may suspend or terminate a bet we consider harmful to others at our sole discretion. Refrain from making bets that relate to catastrophic events and the health condition of others. Remember you, as the creator of the bet, are the sole person responsible for its content.
What if I find mistakes in my bet after it's been published?
Remember you will be rated on the bet's wording and creativity. Make sure you've considered all possible (and unlikely) outcomes and clearly stated all the bet's terms in the "conditions for victory" section.
If you find mistakes that pose a threat to the common understanding of the agreed-upon terms of the bet, post a comment under it discouraging others to place a wager.
You may create another bet and invite participants to join that one instead.
Remember that once placed, all bets are final. You may want to consider the dispute resolution method so participants can get a share of their wagers back.
What if my bet is not published?
Betmul reserves the right to accept or decline bets. Betmul may reject your created bet for a number of reasons, including because it was already created by another user, because is poorly written, wrongly structured, or because it violates our Terms and Conditions or Detailed Bets.
If the bet is not published it may be possible for you to make it private and leave as is. Our Support Department and bet revision will evaluate your created bet and notify you if it can be published or not.
What is the payout?
Is the approximate amount of Bitcoins you will receive if that particular outcome is the winner of the bet.
Payouts for a particular result are fixed on the bet's closing date. For example, if the payout is 4x and you placed a $10 wager, you will receive $40 if the result you selected wins.
Are there additional commissions?
No! The payout has all commissions priced in.
Why do the payouts change?
In betting exchanges, the payouts fluctuate until the closing date as more and more players enter the bet. At the closing dates, the bet can't receive any more wagers and the payouts will permanently freeze.
Under no circumstance will the payout of any result (outcome) be less than 1.19 times (1.19x).
Can I bet more than once on the same bet?
Yes! You may bet how many times you want.
Can I participate in a bet I'm moderating?
You may participate in a bet for which you are the moderator only if the betting resolution method is by transfer.
Can I participate in a bet I created?
Yes, you may participate in a bet you created. If you are also the bet's moderator, you may participate in the bet only if the betting resolution method is by transfer.
Why is my wager on "hold"?/ What is the "order book"?
Betting exchanges function by pairing up people that forecast different outcomes for the same event. Consequently, every time you place bet we need to find a counter-matching bet.
Sometimes finding a matching bet may take a while, depending on the popularity of the particular bet and the specifics of your wager. For instance, if you place a $100 bet on one particular outcome, we need to find someone else that places roughly a similar amount on one or more different outcomes. On the other hand, if you split up your $100 bet in 10 bets of $10 each you increase the likelihood of finding a matching bettor.
Moreover, we assure our players that if they win a bet they'll earn at least 1.19 times what they put in.
To keep our promises, and make sure the bets are placed orderly, we place every new wager on "hold" on a temporary order book. No commissions are deducted at this stage. As soon as we find two or more matching bets that comply with our policies we enter all into the bet definitely.
Can I withdraw a wager that's been placed on "hold"?
No, you may not withdraw a bet once it's been placed. All bets that are in the order book by the closing date will return to the participants with no commission deducted.
Can I back out of a bet?
How are bets resolved?
Bets are resolved by one of three methods explained below:
1. Moderator decides
3. Voting 60%
- Moderator decides: The moderator picks the result that best fits the outcome of the bet. The entire pot is transferred to the selected result.
- Transfer: The moderator proposes a result as the winner of the bet. As participants accept the proposed result, the wagers are transferred to the selected result.
- Voting 60%: The moderator proposes a result as the winner of the bet. As participants accept the proposed result, the wagers are transferred to the selected result. When the result accumulates 60% of the bets in its favor, all remainder bets are automatically transferred to it.
The resolution method is selected by the creator. After a bet has been published, the resolution method, nor the moderator, nor any other conditions may change.
Who's the moderator?
The moderator is the user that decides or proposes the winning result of the bet, depending on the bet's resolution method. Betmul may occasionally be the moderator of a bet.
The moderator's decision on the winning result is always final and may not be appealed nor changed.
The moderator may pick a winning result after the resolution date and will be subject to the bet participants' evaluation.
What happens if a bet's pot is not transferred?
Any remainder wagers that haven't been transferred 360 days after the resolution date will pass to Betmul.
Users are encouraged to resolve bets before that period expires.
How long until a Betmul moderated bet is resolved?
Betmul will do its utmost effort to resolve all bets in which it is the moderator within 48 hours after the resolution date.
May I trade my position in a bet?
Yes! In Betmul you can buy and sell your bets to other participants.
How does Bet Trading works?
When you sell or buy a placed bet you are trading the prospective inflows generated if the outcome you betted on wins.
Put simply, traders change positions and the seller exits the bet while the buyer enters it.
You may sell or buy a bet anytime.
Are there any commissions?
Betmul charges no commission on the trade.
However, the amount deducted from the buyer's account will be 10% higher than the ask price. The difference corresponds to the commission to the buyer's associates' network; specifically, its parent and grandparent.
How do I sell a bet?
By clicking on the "sell" button next to the "Joined Bets" tab in your control panel. You may withdraw an offer to sell before it's trade is finished.
Bets must be entered (meaning not in the order book) for you to sell them. You may select any price for the bet and make partial sales. For instance, you may sell 40% of your $10 to result A for $5. If a buyer accepts your terms, your stake will diminish to $6 (or 60% of your initial wager) and you will receive the $5 immediately.
How do I buy a bet?
You may look for bets for sale in the Bet Trading section. Simply buy a bet by accepting the seller's proposed terms by clicking the "buy" button. If you have enough Bitcoins to execute the trade, the funds will be deducted from your account and the sold stake will be transferred to you. Remember that the amount deducted from your account will be 10% higher than the ask price. The difference corresponds to the commission to your associates' network; specifically, your parent and grandparent.
A bet may be quoted at a different price than its stake so check the payouts before closing the deal.
Generally speaking, if the bet hasn't closed it's better to just place a bet directly unless a seller is asking for a lower price than their stake. For instance, if they are selling 80% of their $10 bet (an $8 value) for $7.
If the bet is closed, take a look at the payout rates and ponder if the price the seller is asking is adequate. Betmul doesn't interfere in any way in the trading activity of its users.
Are there non-monetary bets?
Yes! If a bet is created as a "Free Bet" users might only play with Betmul's free credits.
Can I transform a free bet into a real Bitcoins bet?
No, once a bet has been published it can't change in any way.
Do I win Bitcoins participating in these bets?
No, you are participating in free bets just for fun.
How do I request credits?
Simply click on the "Free Credits" button in your control panel.
Credits are given in 100 credits batches and you may request them how many times you want. A ticker on the number of times you've asked for credits will appear in your profile page.
May I dispute a bet?
Yes, you may dispute all bets you participated in, after the resolution date.
All bets are presented "as is", without any responsibility of Betmul in terms of its quality and resolution. You should consider all bets as final agreements and carefully analyze other bet participants, the creator and moderator.
How do I dispute a bet?
If the bet was moderated by Betmul, please contact us at email@example.com from your registered email address. Remember to include the bet's theme statement and your username.
If the bet was moderated by another user, you may propose to the moderator or other participants to declare the bet as "irresolvable" under the stated terms. The dispute resolution is carried on depending on the resolution method agreed upon by the bet's participants:
If the resolution method is Moderator Decides: contact the bet moderator. It is under the sole discretion of the moderator to declare the bet as "irresolvable". In that case, participants will get back their wagers minus the commissions already transferred to their associates' network (their parent and grandparent).
If the resolution method is by Voting 60% or Transfer: any user might propose the bet as irresolvable. To declare the bet as irresolvable, all participants must agree. In that case, participants will get back their wagers minus the commissions already transferred to their associates' network (their parent and grandparent).
What if a disputed bet isn't resolved?
All wagers that remain un-transferred after 360 days counted from the bet's resolution date will pass to Betmul.
1. Users will receive a $5 registration bonus and $5 bonus for each person they refer to the site that completes the registration process.
2. The maximum bonus amount is $20: $5 per registration and up to $15 for its referees.
3. To withdraw the bonus Bitcoins, users must have complied with all the following conditions:
- Must wager at least 10 times what has been recieved as bonus in Betmul moderated bets. Bets moderated by other users ares specifically excluded.
- Users must complete an ID verification process by sending a government-issued ID to firstname.lastname@example.org. The ID must specify the user's birthdate and the name must correspond to the name of the account.
- The referres must also complete an ID verification process to withdraw the proportional bonus ($5 for each referee)
- Users must have made deposits for twice the total bonus amount using any of our payment methods.