|How does Oventa work?|
|07/12/2014 - FIFA 2014|
|07/13/2014 - FIFA 2014|
How does Oventa work?
Everytime a big football event happens, friends and colleagues like to place bets against each other - just for fun. They speculate, for example, which team will win which match or even become the champion. So why not let a third party help for free? Oventa will do all the administrative work for you: just register as an administrator with Oventa and create your own betting community.
Public and Private Communities
As a rule of thumb each community is initally private, which means no one but the administrator can enlist members. If the administrator would like others to be able to register themselves, then he has to make it a public community. In this case, his primary responsibility is to approve access to the community by confirming that he knows each registered player and thus allowing them to participate.
Status of a community can be changed at any time.
Your personal account
Each member gets his own personal account. It is credited when getting down and deposited with winnings vice versa. Like real bank accounts, you can have debts or credits.
And like any other real bank account, you can view your account statement records showing every movement.
What's an Oventa Dollar?
Oventa's currency is Oventa Dollar. It's a virtual currency not representing any money. It's only purpose is to allow a ranking of each member's performance. Just contact your administrator to deposit some Oventa Dollars onto your account.
Administrators need to load money onto member accounts, e.g. O$ 20, before members can start betting.
Oventa-Dollar = O$
How do I bet?
Betting is very simple. Members can bet immediately after some money has been deposited onto their accounts. Just select "Place a bet" at the menu. Each bet got a deadline. Deadlines for bets on match results are their respective kick-off. If you want to bet on champion you need to get down before the first match's kick-off.
Each member can bet on a match result only once. It is not possible to bet on victory and defeat simultanously. Hence, you cannot bet 1-0 and 2-0 simultanously. Bets on champions are not limited. You can bet on various teams.
Bets are evaluated within your community only. Neither Oventa nor other community are affected. The only opponents are your friends within your community - not the "rest of the world".
All bets can be withdrawn before deadlines have passed. Wagers are then re-transferred onto your account.
Valid, invalid and active bets
Oventa validates each new bet whether your account is balanced or not after wager was credited. If your account is still balanced then your bet is marked valid. If you don't own enough virtual money then your bet is temporarily marked invalid. You need to balance you account by depositing fresh money. Only then your bet becomes valid.
All invalid bets will be rolled back and stakes are returned when deadline passes. All valid bets become active then.
Minimum wager per bet is one Oventa Dollar. Maximum wager is O$ 20 Any amount inbetween can be put at stake.
Wagers can be increased to maximum as long as deadline of a bet has not passed. Just place a bet putting the difference at stake like you'd place a new bet. Oventa automatically adds the amount to your existing bet.
All wagers within a community are returned. Easiest case: member A bets O$ 2 onto victory, member B bets O$ 5 on defeat. Winner will get O$ 5 then. Winnings are shared if there are more than one winner. Specific returns are relative to their respective wagers. To enhance our example above: Two members will share the five Dollars if each had have bet one Dollar on victory. Both receive O$ 2.50. But there are exceptions:
It is possible to benefit of doubled quotes if one of the winners even got the correct specific result, e.g. 3-2. This might even result in winnings for other members that are below their wagers!
If there are bets on victory only but none on defeat or draw game then all wagers are returned unless bets were lost. Again: Doubled quote might result in winnings below wagers for a single member.
If all bets are lost then all wagers are transferred to community jackpot.
Each community got its own jackpot. All wagers that cannot be returned will go into it as well as all wagers of bets on World Cup Champion. So winners of World Cup bet also win previous wagers that couldn't be returned.
However, what happens if noone wins the World Cup Champion bet? This is a special case you need to resolve within your community. We recommend to pay-off the jackpot and split it onto all of your members for the next championships or league season.
Balances and Best Players
Oventa compares all members of a community and lists best players automatically. All placed bets of a member are balanced against his winnings. This Balance tells about a member's performance. Those members with highest balances are Best Players.
Oventa in numbersWe are hosting
|188||members in biggest Community|
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