Game Markets docs · 5 of 16
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 |
| Floor price per unit | From the game's own earnings (below). No unit is ever sold below it; a max price under it wins nothing. |
| Minimum raise to open the market | $100 matched in total, at or above the floor price. It seeds the market pool and is not part of the price. Under it, every bid is refunded in full. |
| Cap | At least $5,000 per auction, and never less than 3 × the minimum raise. Bids above it are accepted: units are shared in proportion and the rest is refunded. |
| 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. The price per unit is this formula and nothing else:
- Priced revenue: what players bet on the game minus what they won, over the last 30 days, or the last 90 days ÷ 3, whichever is lower. No single losing player counts for more than a quarter of the total (winners count in full). The creator's own bets are left out.
- Weekly revenue = priced revenue ÷ 30 × 7.
- Floor price per unit = 26 × (5% × weekly revenue ÷ 10,000). That is 26 weeks of what one unit's share of the house's 5% would be. No unit is ever sold below it.
- Minimum raise to open the market = $100, the same for every game: the auction must match at least $100 in total at or above the floor price, so the market pool opens with real money. It is shown on its own and is not part of the price.
- Upgrade price = half the auction's floor price per unit, per share. An upgrade always costs exactly half of what an auction buyer pays at the floor.
These figures are locked when a game's notice or auction starts, and don't move after that — except that a price is lowered, never raised, if the rule changes in the buyer's favour.
Worked example: a game that earns more
| Step | Value |
|---|---|
| Priced revenue | $3,000 |
| Weekly revenue | $3,000 ÷ 30 × 7 = $700 |
| Floor price per unit | 26 × (5% × $700 ÷ 10,000) = $0.091 |
| Minimum raise | $100 (3,000 units at the floor come to $273, so bids at the floor alone are enough) |
| Upgrade price | $0.091 ÷ 2 = $0.0455 a share |
Worked example: a quieter game
| Step | Value |
|---|---|
| Priced revenue | $1,000 |
| Weekly revenue | $1,000 ÷ 30 × 7 = $233.33 |
| Floor price per unit | 26 × (5% × $233.33 ÷ 10,000) = $0.0303 |
| Minimum raise | $100. 3,000 units at the floor come to only $91, so the auction needs at least $100 in bids at or above the floor: the price is then at least $100 ÷ 3,000 = $0.0333 a unit |
| Upgrade price | $0.0303 ÷ 2 = $0.0152 a share |
How the price is set
Price per unit = total bids ÷ units on offer, never below the floor price. Everyone who wins pays that price. Your units = your bid ÷ the price. Bids with a max price under the floor win nothing and are refunded.
The auction page shows the floor price, the minimum raise and the units on offer. Units the auction leaves unsold stay in the game's reserve; they never enter the market pool.
Example: a normal auction (3,000 units on offer, floor price $0.091)
Total bids: $2,000. Price = $2,000 ÷ 3,000 = $0.667 per unit. A $500 bid gets 750 units.
Example: below the minimum raise
Total bids: $85. That is under the $100 minimum raise, so every bid is refunded in full, no units are created, and the game tries again after 7 days.
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, in USD, so the market has real money behind it from the first minute.
- 5% is the auction fee.