Here you can find answers!
What is BetMyStock.com?
BetMyStock gives you the opportunity to bet on the stock market, just as you would bet on a sports game. Rather than investing your money into the stock of a company, we give you the opportunity to make simple predictions one one stock price versus another within a day’s period. We give you a free 10 cents to start out with and you can use that however you wish to gamble with. You can bet on any of our selected stocks or indexes. If your bet is correct at the end of the day, the winning percentage of the event will determine what you receive. If you lose the 10 cents we give you, we’ll give you another free 10 cents. Once your balance reaches $15.00, you can cash out with real cash! It’s just that easy.
Is BetMyStock legal?
Yes! Because we don’t allow users to deposit their own money BetMyStock does not actually allow gambling. Three elements are commonly found in most U.S. state gambling laws - "prize, chance and consideration," according to attorney and gaming-law specialist Chuck Humphrey, the author and webmaster of Gambling-Law-US.com. Since BetMyStock does not allow a user to place bets with his/her own money, no "consideration" is involved, thus ensuring the site's legality. The site is sponsored entirely by advertisers. No investments are being made on the stock market. All bets are simply predictions on what the market will do.
How do I win?
Betting closes for each stock event at 8AM Eastern Time every day. Up until this time you will have the opportunity to bet on stocks and indexes matchups. Once the market closes for the day if you bet correctly you will receive your payout. All prices are based off of yahoo finance closing prices. For instance, on Monday May 4th, you can choose a stock matchup and bet on which one will have a larger increase in price until 8AM on May 5th. At 8 o’clock, all bets will lock until 4pm when the stock market closes. The stock will be evaluated based on its increase or decrease in price in which payouts will be distributed based on winning bets.
Is BetMyStock free?
Yes, BetMyStock is 100% free with no catches. We give you free money and you cash out with real money. If you lose what we give you we will give you another free 10 cents.
Where does the cash come from?
The payouts come from the advertising on the website which sponsors all bets.
How Do The Odds Work
BetMyStock uses a system that is very similar to a money line bet. Money lines are the simplest form of sports bets. The stock possibility you bet on just has to occur at the end of the day. The amount you may win is determined by the money line. Money Line rules are as follows:
• Bets are displayed with a plus "+" or
a minus "-" sign.
For example, in a GOOG vs. AMZN matchup you bet on GOOG stock price to increase the most by close of market the following day +160. You must bet $100 to win $160 if GOOG increases in price the most. Your friend bets on AMZN -260. Your friend must bet $260 to win $100 if the stock decreases. The following table displays the results of four different winning bets.
When can I cash out?
In order to cash out you must have minimum balance of $15. Once you reach this you may request your money through our contact form and a check will be sent to you. Balances will be cashed out on a first come first serve basis. Balances will only be paid out from the advertising pot therefore one may have to wait for the pot to refill before receiving a check if it has just been emptied.
Can I parlay?
At this time, BetMyStocks is not offering parlay bets. We plan to introduce this feature at a later time.
How many accounts can I have?
Users are limited to one account. Breaking this rule will result in a permanent ban from all betting.
Can I cancel my bet?
Yes. As long as the event as not started yet you can cancel any bet you’d like. Just click the little orange “x” next to your wager and your bet will be cancelled.
What are the bonus winning percentages?
All bets under $0.50 will allow random bonuses with increased winning percentages sponsored by our advertisers. You won’t have to wager any additional money but will gain higher returns.
How are the odds determined?
The odds are determined by a volatility system BetMyStock uses. The more volatile the stock is in a matchup, the better the payout will be.
What time do bets start and end?
You can bet the day before an event starts up until 8AM Eastern Timezone for indexes and 12PM for stocks. At this point, the even will be locked and payouts will be distributed when the market closes.
Can I play if I’m not from the US?
Sure, but you can only cash out if you are from the US. We currently can only send check to residents of the United States.
How do I get another free 10 cents?
Did you gamble away all your money? No worries, we’ll give you another free 10 cents to play with. Just click the refresh button on top of the page, next to your balance. Remember, you must have an empty account and cannot be currently placed in any events.
What time zone does Betmystock operate on?
All bets are based on eastern time ( USA).
How do the bets work?
It’s easy. Choose the stock you want to bet on. Place your wager on it if you think it will have a greater increase percentage that it’s opponent by close of market. If you’re correct, you win the payout plus the sponsored bonus. Good luck. . .
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