FAQ - PredictMarket

General Questions

What is PredictMarket?

PredictMarket is a prediction market platform where users can bet on real-world events across politics, sports, entertainment, crypto, and more. We use dynamic odds that adjust based on market activity.

How does it work?

Users bet YES or NO on whether an event will happen. Odds are calculated dynamically based on the total pool of bets. When the event concludes, winners are paid out automatically minus a 2% platform fee.

Is it legal?

Prediction markets operate in a legal gray area in many jurisdictions. Users are responsible for ensuring they comply with local laws. We recommend consulting with legal counsel if you're unsure.

Account & Security

How do I create an account?

Click "Sign Up" and provide your name, email, and password. You'll receive a verification email to activate your account. It's free and takes less than a minute.

Is my account secure?

Yes! We use industry-standard security measures including password hashing, CSRF protection, and optional 2FA (Two-Factor Authentication) via Google Authenticator for extra security.

What is 2FA and should I enable it?

2FA adds an extra layer of security by requiring a code from your phone in addition to your password. We highly recommend enabling it to protect your account and funds.

Deposits & Withdrawals

What payment methods do you accept?

We currently accept Bitcoin (BTC) and Litecoin (LTC) via the GoUrl payment gateway. More cryptocurrencies may be added in the future.

What is the minimum deposit?

The minimum deposit is $10 USD equivalent in cryptocurrency.

How long do deposits take?

Deposits are credited after 3 network confirmations, which typically takes 15-30 minutes for Bitcoin and 5-15 minutes for Litecoin.

How do I withdraw funds?

Go to your wallet, click "Request Withdrawal", enter your crypto wallet address and amount. Withdrawals are manually reviewed and processed within 24-48 hours.

What is the minimum withdrawal?

The minimum withdrawal is $20 USD equivalent in cryptocurrency.

Are there withdrawal fees?

We don't charge withdrawal fees, but you'll pay the network transaction fee for the blockchain transfer.

Betting

What are the betting limits?

Minimum bet: $10, Maximum bet: $5,000 per position. These limits help maintain market stability and protect users.

How are odds calculated?

Odds are calculated dynamically based on the ratio of YES to NO bets in the pool. As more people bet on one side, the odds for that side decrease while the opposite side increases.

What is the odds range?

Odds range from 1.10x (minimum) to 5.0x (maximum) to ensure fair markets and manage platform risk.

Can I sell my position early?

Yes! You can sell your position anytime before the market closes. The sell price is based on current odds, allowing you to lock in profits or cut losses.

What happens if I win?

When the market settles in your favor, your payout is automatically credited to your balance. The payout equals your bet amount multiplied by your entry odds, minus a 2% platform fee.

What if the market is cancelled?

If a market is cancelled (e.g., event doesn't happen), all bets are refunded in full to your balance.

Fees

What fees do you charge?

We charge a 2% platform fee on winning bets only. There are no fees for deposits, losing bets, or account maintenance.

Are there any hidden fees?

No hidden fees! The only cost is the 2% platform fee on winnings and blockchain network fees for crypto transactions.

Referral Program

How does the referral program work?

Share your unique referral link with friends. When they sign up and bet, you earn 10% of all platform fees from their activity. It's a win-win!

How much can I earn?

You earn 10% of the 2% platform fee from all your referrals' winning bets. The more active referrals you have, the more you earn!

When do I get paid?

Referral commissions are credited to your balance immediately when your referrals win bets. You can withdraw them anytime.

Technical

Is the platform mobile-friendly?

Yes! Our platform is fully responsive and works great on mobile devices, tablets, and desktops.

Do you have an API?

Not currently, but we're considering adding API access in the future for advanced users and developers.

What browsers do you support?

We support all modern browsers including Chrome, Firefox, Safari, and Edge. For the best experience, keep your browser updated.

Support

How do I contact support?

Email us at support@predictmarket.com or use the live chat feature on our website. We typically respond within 24 hours.

What if I have a dispute?

You can submit a dispute through your dashboard. Our team will review it and respond within 48 hours. We take all disputes seriously.

Can I suggest new markets?

Absolutely! We welcome market suggestions. Contact us with your ideas and we'll consider adding them to the platform.

Frequently Asked Questions