The Cashout Bracket System
How do cashouts work on CentSports? The model is simple: we get in money from the ads on the site and we try to get as much of that to you as possible in the form of cashouts.
So here we go, first off, you have to have a balance of $20 or more to cash out. If you don’t have $20, well, then rob a hobo. Preferably a rich hobo.
The Bracket System:
we have a cashout period each week. At the beginning of the week we determine how much money we have available for cashouts.
1) Depending on cashout trends we create cashout “brackets”. For example, there might be one bracket for people who want to cash out $20-$30, another for people cashing out $30-$40 etc. We allocate a certain amount of cashout money to each bracket based on past cashout trends.
2) If you want to cash out, you enter your name in the appropriate bracket (click one of the brackets on the cashout page).
3) If someone with a higher balance than you enters your bracket, they take precedence over you … i.e., people are ranked (in each bracket) in order of balance.
4) At the end of the week, we cash people out for their requested amount in the order they’re ranked in the bracket until the cashout allotment for that week (for that bracket) is used up. You know if you’re high enough in the bracket to cashout if your name is in green on the bracket listing. If you’re in red that means that people above you have used up the cashout allotment for the period; however, you can move up the list by increasing your balance and go from red to green, or you can also move up if people above you make stupid bets and drop their balance.
5) You may not submit requests for multiple brackets, or make multiple submissions to the same bracket.
6) If you’re name is in green by the end of the bracket period posted on the cashout page, we’ll email you saying, “Hey tell us where to send the check” … so your email on your account better be correct, because otherwise, if we don’t hear back from you, your spot gets pushed down to the next person on the list.
SOME PROVISIOS:
Putting your name in a cashout bracket does NOT take money out of your account. Money does not come out of your account until we print the check, so you can’t LOSE anything by entering a cashout bracket.
Since that’s the case, after you enter your name in the bracket, you can still keep betting as normal. However, your balance at the end of the cashout period determines your rank. So, if you enter a cashout bracket and then lose all your money, well, then the guys below you are going to move up, and you’re just screwed. So, feel free to keep betting, just remember, it’s your balance at the END of the bracket period that matters.
That also means that your rank can fluctuate without you doing anything … maybe someone gets lucky and shoots straight to the top of the bracket or, better for you, maybe someone gets really unlucky and drops off, boosting your ranking.
You can see Victor’s full update letter in the screenshots below.
