{"id":5664,"date":"2017-02-13T17:10:08","date_gmt":"2017-02-13T17:10:08","guid":{"rendered":"http:\/\/blog.colossusbets.com\/?p=5664"},"modified":"2019-11-18T17:38:56","modified_gmt":"2019-11-18T17:38:56","slug":"colossus-bets-faq","status":"publish","type":"post","link":"https:\/\/www.colossusbets.com\/blog\/colossus-bets-faq\/","title":{"rendered":"The Colossus Bets FAQs"},"content":{"rendered":"
\n

Colossus Bets FAQ\u2019s<\/b><\/h2>\n

Keep reading the Colossus FAQ\u2019s to answers all of your questions! Updates and new links added on 13\/02\/2017.<\/span><\/p>\n

<\/h2>\n

What is Colossus Bets?<\/b><\/h2>\n

Colossus Bets offers pool betting games which allows you to bet on the results (both exact scores and outcomes) of sporting events. Amounts staked will be placed into the Colossus Bets pools and winning players will share the relevant pool less any deductions.<\/span><\/p>\n

Colossus Bets offers guaranteed prizes on selected pools which ensures that winners get a significant payout whatever the total amounts staked.<\/span><\/p>\n

Colossus Bets offers more than just pool betting games. At certain times during a game (for example, after one of the selected matches has finished), we may offer you the chance to \u2018Cash-Out\u2019 any \u2018live\u2019 tickets (in full or in part) by selling them back to us through our unique Cash-Out process. When you Cash-Out a ticket we will pay you the agreed amount<\/a> and you will bank this regardless of what happens in the remaining legs of the bet. If you Cash-Out a part of your ticket, you will bank the Cashed-Out value for that part and for the part of the ticket you choose not to Cash-Out, you retain the opportunity to win a corresponding share of the prize funds for that pool if your ticket is successful in the remaining legs.<\/span><\/p>\n

<\/h2>\n

What are OH, OD and OA?<\/b><\/h2>\n

These acronyms stand for \u2018Other Home\u2019, \u2018Other Draw\u2019 and \u2018Other Away\u2019. To remove the need for players to have to pick unlikely scores, these scores have been grouped together into \u2018Other\u2019 brackets. Other Home\u2019 covers the home team winning by any score other than the ones specifically listed (for example, 4-0, 4-1, 5-3 etc); \u2018Other Away\u2019 covers the away team winning by any score other than the ones listed (for example, 0-4, 1-4, 3-5 etc) and \u2018Other Draw\u2019 covers draws other than 0-0 and 1-1 (for example, 2-2, 3-3 etc).<\/span><\/p>\n

More information on OH, OD and OA<\/span><\/a><\/p>\n

<\/h2>\n

What does the Guarantee mean?<\/b><\/h2>\n

To ensure that a significant prize is always on offer to players regardless of the amount collected by way of stakes, guaranteed prize funds are offered. A guarantee ensures a minimum amount that will be available to winners of that pool regardless of the amounts staked. Note that the guarantee is the minimum amount that will be paid out to Jackpot winners and if stakes bet into the pool (after deductions) exceed the guarantee, then the amount available to be won will be greater than the guarantee.<\/span><\/p>\n

<\/h2>\n

What is \u2018Cash Out\u2019?<\/b><\/h2>\n

At certain times, Colossus Bets may make an offer to buy any tickets from you which contain at least one potentially winning line (a \u2018live\u2019 ticket). This will typically happen after the conclusion of one of the matches in a pool and before the start of the next match as well as at half-times. At this point you can choose to cash-out some of your live ticket at the offered price. If you choose to cash-out some of your live ticket then you will receive the offered amount for that proportion of your bet and you will keep that amount regardless of the eventual outcome of your bet. However, if the bet wins, you will now no longer be entitled to the winnings for the proportion of your bet that you cashed-out.<\/span><\/p>\n

For example, assume that you placed a \u00a32 \u2018Colossus\u2019 bet and you managed to correctly predict the correct scores in the first four matches. You may now be offered \u00a35,000 for your live ticket. If you accept this offer, then \u00a35,000 will be credited to your Colossus Bets account<\/a> but you will no longer be entitled to any winnings from the ticket should it eventually win. Nor will you be entitled to receive any Consolation pool winnings.<\/span><\/p>\n

However, you can choose to sell a fraction of the ticket instead. For example, if you sell 50% of this ticket, \u00a32,500 will be credited to your account and will retain 50% of the rights in this ticket, should it ultimately be successful in any of the Jackpot or Consolation pools. Of course, you can always choose not to cash-out any of your ticket in which case you will still be entitled to all winnings due in full from that ticket.<\/span><\/p>\n

<\/h2>\n

How Much Can I stake per line?<\/b><\/h2>\n

\u00a32 is the default stake per line. This is also known as the \u201cUnit Stake\u201d.<\/span><\/p>\n

In our pools you can also use a lower or fractional stake per line; including a \u00a31 per line, 50p per line and 20p per line. When you use a lower stake per line than the default unit stake, the prizes you are playing for change by the same ratio. For example, if you used a 50 pence per line stake in the \u00a35,000,000 Colossus then as 50p is a quarter of the \u00a32 default unit stake, the maximum prize you could win is \u00a31,250,000.<\/span><\/p>\n

<\/h2>\n

How can I track the progress of my bets?<\/b><\/h2>\n

To view any bets that you have placed or to track the progress of bets that are In-Play, click the \u2018Tickets\u2019 tab near the top of the web page. This will take you to a page showing all your tickets into the currently running or soon to run pools.<\/span><\/p>\n

If the pool has finished and been paid out, click the \u2018Ticket History\u2019 tab in the \u2018Tickets\u2019 section to review past bets. Furthermore, you can view a complete history of bets and transactions by clicking the \u2018My Account\u2019 section on the top right of the web page.<\/span><\/p>\n

<\/h2>\n

How much will I win if I get all the results correct on my ticket?<\/b><\/h2>\n

The amount you could win if you correctly predict the result of each leg in a pool, depends on the size of the jackpot and the number of other tickets that have selected the same result(s).<\/span><\/p>\n

All pools that are In-Play have a \u2018Pool History\u2019 (showing the number of tickets left at various stages, as goals are scored and results confirmed) and a \u2018Remaining Units\u2019 table. The Remaining Units table shows you the distribution of all \u2018live\u2019 tickets amongst the selections in each remaining legs of the pool.<\/span><\/p>\n

Worked Example:<\/span><\/p>\n

Your ticket is live into the final leg of a Pick 4 correct score pool, which has a jackpot of \u00a330,000. You have selected 2-0 in the final leg and have played for \u00a32 per line. The Remaining Units table shows that there are 5 tickets remaining that have selected 2-0. The amount you will win if the result is 2-0 is the total jackpot divided by the number of winning tickets (30,000\/5) = \u00a36,000.<\/span><\/p>\n

Prior to the final leg, it is only possible to work out an approximate value for your potential win. This is because although the Remaining Units table shows all live tickets, before the result of the penultimate leg is confirmed, it is not possible to know specifically how many tickets will be live on each selection in the final leg.<\/span><\/p>\n

 <\/p>\n

How is my Cash-Out Offer generated?<\/b><\/h2>\n

Offers are calculated using an automated formula which asks two questions:<\/span><\/p>\n

1. How much you are playing for?<\/b><\/h3>\n

How much is available for you to win depends on:<\/span><\/p>\n