How We Determine the Outcome of Tips on Tipstake
Tipstake is a community-driven sports tipping marketplace. When you purchase a tip on Tipstake, the payment amount is transferred to our holding account until the tip's outcome is determined. This step is essential to implement our money-back policy. If the outcome of the tip aligns with the prediction, the accrued earnings are transferred to the tipster. On the other hand, if the prediction is inaccurate, the money is refunded to the game accounts of the buyers.
Why Do You Need to Review Your Tips?
As a community-driven marketplace, our system depends on the combined feedback from both the tipsters (sellers) and the sports traders (buyers) to precisely determine the outcome of a tip. Knowing the tip's outcome enables us to accomplish the following:
- Compensate our diligent tipster if the tip is successful.
- Refund the sports trader if the tip does not yield the expected result.
- Allocate reputation points to the tipster based on the outcome of their tip.
Who Can Review a Tip?
Only the two parties involved in the transaction can review a tip. These include:
- The tipster who published the tip for sale.
- The sports traders who purchased the tip.
You cannot review a tip that is not yours or that you did not buy.
When is a Tip Due for Review?
Tips can be reviewed only during the tip review window. The review window for a tip opens 30 minutes after the tip was posted and closes 12 hours after the date of the last game in the tip.
Here is an illustration: Let's take a look at a tip consisting of 4 soccer matches: A, B, C & D. Match A will be played first on Monday by 4 p.m., while match D, which is the last game, will be played on Friday by 11 a.m. Let's assume the tip was published on Tipstake at 2 p.m. on Monday. The review window will open at 2:30 p.m. (30 minutes after the tip is published) on Monday and close at 11:00 p.m. on Friday (i.e. 12 hours after the last game). As the seller or buyer, you can review the tip during this period. We will send you notifications in the app and via email to remind you of tips pending review.
What Happens After the Outcome of a Tip is Determined?
After the outcome of a tip has been determined, the following actions are taken to mark the end of the transaction:
If the Outcome is "Won":
- The earned amount is transferred to the seller's main account.
- The seller can withdraw this earning to their bank account.
If the Tip is Void or a Loss:
- Buyers will be refunded their purchase amount.
- The seller will not receive any earnings from the transaction.
The outcome of a tip cannot be changed again once it has been concluded.
What Happens When None of the Parties Reviews a Tip?
Regarding situations where neither the buyers nor the seller reviews a tip within the stipulated review window, the system will automatically update it as a loss at the end of the review window.
How We Resolve Disagreements on Tip Outcome:
We acknowledge that disagreements may arise in reviews from the involved parties, either due to a mistake or a deliberate attempt to cheat. In such instances, either party is allowed to flag the review. This action triggers our internal team to intervene in the case. A member of the Tipstake staff will manually verify the actual outcome, and this determination serves as the final decision. This process ensures fairness and accuracy in resolving disputes related to tip outcomes.
Possible Outcomes of a Tip:
A tip can result in one of the following three outcomes:
Won:
- Description: The outcome of a tip is considered "won" if the games in the tip turn out as predicted.
- Action: Earnings are transferred to the tipster as a reward for the accurate prediction.
Loss:
- Description: The outcome is considered a "loss" if the tip does not turn uot as predicted.
- Action: Buyers are refunded their purchase amount, acknowledging the unsuccessful prediction.
Void:
- Description: A tip is considered "void" if it is deemed invalid or its outcome cannot be determined due to various reasons, such as errors in booking information that makes it impossible to proceed with the game, nullification of at least, one of the games in the tip, or for some other reasons.
- Action: Buyers receive a refund, recognizing the inconclusive nature of the tip.
Consequences of Continuous Incorrect Tip Reviews:
Ensuring accurate tip reviews is vital for the integrity of our platform. Continuous incorrect reviews result in various sanctions, detailed below:
For Tipsters:
- Your ability to review your tips will be temporarily restricted.
- Prolonged incorrect reviews may lead to a permanent ban from our platform.
For Buyers:
- Temporary restriction from reviewing purchased tips.
- After serving the temporary restriction penalty, if incorrect reviews persist, your ability to review purchased tips will be permanently restricted. However, you can still buy and sell tips on the platform.
The specific number of offenses before these penalties take effect is not disclosed. Therefore, it is imperative to consistently and honestly review tip outcomes to avoid these consequences.