OwnersBucks convert to real-money as you play real-money contests. The OwnersBucks convert at a pre-defined rate based on your rank. The higher your rank on our platform the faster you convert.
Our current conversion rates are:
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 OwnerBox 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.
OwnersBucks have no cash value and the rates they convert to real-money are subject to change.