OwnersBucks are site credit that becomes convertible to real money as you play. Your conversion rate starts at 4% of your entry fees and increases based on your rank. OwnersBucks can also be used to enter OwnersBucks-specific contests.
How do OwnersBucks work?
- When a user enters a real money contest, 1% of the entry fee is added to their OwnersBucks balance as a reward for entering the contest.
i.e. If you enter a $100 real money contest, your OwnersBucks balance will increase by 1. (1% of 100 = 1)
- When a user enters a real money contest, part of their current OwnersBucks balance becomes convertible to real money, based on a percentage of their entry fee. This conversion rate/percentage is based on the user's rank.
*Conversion is not automatic, and you will have to process a conversion through the OwnersBox platform.
i.e. A user with a rank of Rookie (4% conversion rate) enters a $100 real money contest, 4 OwnersBucks from their current balance is now available in their convertible OwnersBucks balance to be converted to real money. (4% of 100 = 4)
A user with a rank of Hall-of-Famer Tier 3 (4.75% conversion rate) enters a real money contest of $50, 2.38 OwnerBucks of their current balance is now available in their convertible OwnersBucks balance to be converted to real money. (4.75% of 50 =2.38)
Note: OwnersBucks can only become convertible if you have an OwnersBucks balance. Therefore if you have 0 (Zero) OwnersBucks and enter a real money contest, your convertible balance will not increase, however, your overall OwnerBucks balance will increase by 1% of your entry fee as a reward for entering the real money contest. We reward ranking up with a higher rate of conversion. Our conversion rates are subject to change. OwnersBucks have no cash value.
For more info on ranking rewards, see HERE.