How Prime Market Works

1. The Market Flow (End to End)

Every market follows the same lifecycle:

Open (bets allowed) → Close (no more bets) → Resolve (outcome confirmed) → Payout (winners credited).

Most markets resolve within 24 hours after close, depending on source availability.

2. Fees and Net Stake

Prime Market charges a 2% protocol fee on each bet when the bet is placed.

Your gross stake is the amount you enter. Your net stake is what remains after fees and is what enters the pool.

Example: Bet ₦1,000 → fee ₦20 → ₦980 goes into the pool.

3. Parimutuel Pricing and Payout Logic

Prime Market uses parimutuel settlement. All bets form a common pool, and winners share the final pool based on their fraction of the winning side.

On the winning side, the more you stake, the larger your share of the pool and the more you win.

Core formula: Payout = (Your winning stake / Total winning stake) × Total pool.

10-bettor example (one user 10x):

• 9 bettors choose No with ₦1,000 each = ₦9,000 on No.
• 1 bettor chooses Yes with ₦1,000 = ₦1,000 on Yes.
• Total pool = ₦10,000.
• If Yes wins, payout = (₦1,000 / ₦1,000) × ₦10,000 = ₦10,000 (10x).

4. What “Projected Payout” Means

Projected payout shown before placing a bet is an estimate based on current pool state. It can move as other users place bets, liquidity changes, and market depth shifts.

Final payout is always calculated at resolution using final pools.

Vol on a market card means total betting volume (the cumulative amount staked on that market), not the current live pool.

5. Resolution Rules and Disputes

• Each market includes a linked resolution source.
• If source publication is delayed, the market remains pending until verifiable data is available.
• If a market cannot be resolved unambiguously, it may be marked invalid and stakes refunded.

If you believe a market was resolved incorrectly, raise a dispute with the market ID, source evidence, and your rationale. Target response time is within 48 hours.

6. Cashout (Early Exit)

Cashout lets you exit a live position before final resolution at a discounted value.

Cashout value is influenced by liquidity, time to market close, and market depth. Cashout is optional; holding to resolution may pay more. Bonus-funded bets are not eligible for early cashout.

7. Wallet Balances (Cash vs Bonus)

• Cash balance: deposit funds and settled winnings.
• Bonus balance: referral rewards, usable for betting.
• Bonus can be used to place bets but is not directly withdrawable.
• No bonus expiry rule is currently shown in-app.

8. Limits and Eligibility

• Minimum withdrawal: ₦1,000.
• Minimum and maximum stake are shown per market (common defaults: ₦100 min, ₦1,000,000 max).
• Prime Market is for users 18+.
• Withdrawals require account verification and a 4-digit withdrawal PIN.

9. Security and Safety Checklist

• Enable your withdrawal PIN.
• Do not share OTPs or PINs with anyone.
• Ignore fake support accounts and impersonators.
• Use only official Prime Market channels.

FAQ

• Can I lose more than I stake? No. Maximum loss on a position is your stake.
• Why did the price change? Prices move as new bets change pool ratios.
• Why is payout different from preview? Preview is an estimate; final payout is based on final pools at resolution.
• How long do withdrawals take? Withdrawal is initiated immediately after approval; final completion depends on payment rails and bank processing.
• What if a market is ambiguous? It can remain pending until source clarity, or be resolved invalid with refunds where appropriate.