The opening auction
The opening auction is how a game’s units first reach players. Everyone pays the same price, and timing doesn’t matter.
The rules
| Rule | Value |
|---|---|
| Length | 72 hours |
| Currency | USD, from your balance |
| Units on offer | 3,000, plus any early units not reserved (Originals: plus the 1,000 creator units) |
| Smallest bid | $1 |
| Most per player | $500 per auction |
| Cap | $5,000 in total per auction. Bids above it are accepted: units are shared in proportion and the rest is refunded. |
| Minimum | $100 or the unit floor × the units on offer, whichever is higher. Under that, every bid is refunded in full. |
| Changing your bid | Raise anytime. Lower or cancel until the last 12 hours (3 changes in total). |
| Last 12 hours | Bids can only go up |
| Who can bid | Accounts with at least $50 wagered in real-money bets on JustBet, in any currency (WINR, USD or USDC, each at its USD value on the day of the bet). Bonus-funded bets don’t count. |
The earnings-based price
One rule for every game, worked out from the game’s own earnings:
- 30-day revenue: what players bet on the game minus what they won, over the last 30 days. The creator’s own bets and house accounts are left out.
- Weekly revenue = 30-day revenue ÷ 30 × 7.
- Unit floor = 26 × (5% × weekly revenue ÷ 10,000). That is 26 weeks of what one unit’s share of the house’s 5% would be.
- Auction minimum = $100 or the unit floor × the units on auction, whichever is higher.
- Upgrade price = half the auction minimum per unit = the auction minimum ÷ the units on auction ÷ 2, per share. An upgrade always costs exactly half of what an auction buyer pays at the minimum, including when the $100 floor applies.
These figures are locked when a game’s notice or auction starts, and don’t move after that.
Worked example: a game that earns more
| Step | Value |
|---|---|
| 30-day revenue | $3,000 |
| Weekly revenue | $3,000 ÷ 30 × 7 = $700 |
| Unit floor | 26 × (5% × $700 ÷ 10,000) = $0.091 |
| Auction minimum for 3,000 units | $0.091 × 3,000 = $273 (higher than $100) |
| Minimum per unit | $273 ÷ 3,000 = $0.091 |
| Upgrade price | $0.091 ÷ 2 = $0.0455 a share |
Worked example: the $100 floor
| Step | Value |
|---|---|
| 30-day revenue | $1,000 |
| Weekly revenue | $1,000 ÷ 30 × 7 = $233.33 |
| Unit floor | 26 × (5% × $233.33 ÷ 10,000) = $0.0303 |
| Auction minimum for 3,000 units | $0.0303 × 3,000 = $91, under $100, so $100 |
| Minimum per unit | $100 ÷ 3,000 = $0.0333 |
| Upgrade price | $0.0333 ÷ 2 = $0.0167 a share |
How the price is set
Price per unit = total bids ÷ units on offer. Everyone who wins pays that price. Your units = your bid ÷ the price.
Because the auction must reach its minimum, the price per unit is never below the unit floor. The auction page shows the minimum and the lowest possible price.
Example: a normal auction (3,000 units on offer, minimum $273)
Total bids: $2,000. Price = $2,000 ÷ 3,000 = $0.667 per unit. A $500 bid gets 750 units.
Example: below the minimum
Total bids: $250. That is under the $273 minimum, so every bid is refunded in full and no units are created.
Example: over the cap
Total bids: $8,000. The price is $5,000 ÷ 3,000 = $1.67 per unit. A $400 bid is 5% of all bids, so it gets 5% of the units (150 units for $250), and $150 comes back.
Optional: max price (Advanced)
Set “I won’t pay more than X per unit.” If the final price ends above X, you get no units and all your money back. Most people leave it empty.
Where the auction money goes
- 95% backs the game’s market pool, so the market has real money behind it from the first minute.
- 5% is the auction fee.
Next: Trading →