There's only one fee on SportX, and it comes on winning bets after they've settled. Currently, SportX charges a 4% fee on each winning bet. This means that if you place a $100 bet that returns $200 (i.e. $100 of profit), you would pay a $4 fee (i.e. 4% of the $100 profit). If you place a bet and lose, you won't be charged a fee.
There are no additional fees on SportX for depositing, withdrawing, claiming winnings, participating in tournaments, or any other function on SportX.
We cover all gas costs associated with using SportX.
Will I be charged if I cancel my bet offer?
No, if you offer a bet and you cancel it, you will not be charged a fee. SportX only takes fees on bet after they have settled.
What will SportX do with fees?
SportX uses these fees to able to continue covering transaction expenses, incentivize more liquidity, and fund the SportX World Tour tournaments.
We're not using these fees to fund dividends to shareholders; every single dollar of revenue is reinvested to cover platform development and drive adoption.
We're constantly researching ways to create an entirely self-funded and community-owned platform that doesn't extract rent from it's users.