When you place a race wager in a hangout, your are agreeing to place that amount as a bet on winning the race you are about to have. The person you are racing against will have also agreed to bet the same amount as you. The winner will take all of the money wagered, minus Agent fees at 5%. You will place a starting bet, and your opponent will have a chance to raise that bet, you then have 3 options:
- Accept the wager and race for that amount
- Raise your opponents wager again.
- Back out of the race (an incur a small back out fee)
So, as an example, If you wager $10,000, your opponent will also have wagered $10,000.
If you win, you will receive the sum of the two wagers, minus the 5% agent fee, so in this case $19,000 (10,000 + 10,000 = 20,000 - 5% = 19,000)
If you lose the race, you will lose your $10,000 wager.
We also offer player the ability to buy back lost wagers at a highly reduced gem cost.