How Does BetOnFinance Work?
Through their unique platform, BetOnFinance allows you to profit off of movement in the financial markets in three different ways. The first method is called “Stock Race Game.” Here, you choose from a pool of about 30 stocks within the U.S. or Danish stock markets. First, select the market you wish to bet on. Next, you will be given a list of 30 different companies. You can select from either upward (bull) movement, or downward (bear) movement. Your goal is to select the company that will perform the best out of these choices in either the bull or bear category. The concept is very similar to betting on a horse race. You want the company that you choose to perform the best (or the worst, if you go with the downward category). If your company wins, then you receive a payment to your account. Your goal is to finish in the top three of whichever category you choose.
The second method is called the “Index Game.” Here, you select an index and then determine the percent change that it will change. They typically have two different timeframes with which you will be determining the change, the end of day and the midway point of the day. For the purpose of this site, the halfway point is always noon of whatever market you are trading within. To simplify this type of wagering, BetOnFinance puts a spread on the ranges. Let’s say that you believe that your index of choice will move by 0.3 percent. You would select the 0.25 to 0.50 percent range. If you were wrong in your prediction, but the price still finished up within the given range, your bet would be deemed a winning one.
Another game that is offered through BetOnFinance is called an “Event Game.” These are very specific occurrences, and will vary quite a bit depending on what is going on in the news. Some events that might be featured include IPOs, policy announcements by a central bank, CEO replacements, or political or other economic events. You will be given a list of choices in the potential outcome of an upcoming event, and then will try to correctly guess the correct one.
Winning bets are normally paid out, if correct, within 20 minutes of the close of the game.