What are the ways to pay and collect? (Account Types)

There are 4 ways for your agent to collect or payout. You can assign a different account type for each player. 

Choose whether to keep a weekly balance, running balance, or deposit balance for a player. A running balance carries over from one week to the next, whereas a weekly balance resets weekly.  A deposit balance allows a player to deposit cryptocurrency to play.  The player can also withdraw with a deposit balance.

CryptoDeposit Account Types

Credit Deposit and Withdraw

Let players use Crypto Deposits to fund plays instantly online, without meeting in person to settle. Agents can even offer customized deposit bonuses to sweeten the deal.

This is the typical way an online sportsbook like Draftkings or Fanduel runs. You must deposit $ before you get any credit to play. BKM will allow players to deposit and get paid out using crypto. Sportsbooks may often offer deposit bonuses of 20% to entice players to deposit. For example, you deposit $100 and get a bonus of $20 extra to play with it. (BKM has an option for bookies to offer bonuses for deposits.) 

Balance Deposit and Withdraw

Issue credits to players and uses Crypto Deposits to settle up. Agents can set the maturity duration for deposits and wins.

The Balance Deposit allows the Agent and Player to settle without meeting each other. The Agent will set a maturity date for the player and agent to settle. The player and agent can now transact using crypto.   

You still have full access to more traditional running and weekly balances if that’s more your style. Bookiemarket now gives you more options to step up your game.

Traditional Account Types

Running Balance
A player with a “Running Balance“ will be given  X amount of credit to play with until they lose it all. They will have to settle up (collect/payout) before they receive a credit to play again. 
The Player receives a lump sum of credits, then plays until the balance runs out. Ex: $500 over 3 weeks. If player wins $100 (500 credits + $100 winnings). Players can cash out the winnings. If the player loses all 500 credits, the bookie can collect $500 before giving the player more credits.
Weekly Balance
This is the most common way bookies collect and payout, especially during football season. A player is given credit for the week. After the week ends, usually after Monday night football, the bookie and player will settle up. The credit is then reset for Tuesday, and the new week begins. 

Every party Must settle at the end of 7 days, whether you’re winning or losing. The weekly balance resets itself, giving the bookie a report of how much +/- balance. Bookie and the player settle outside of BKM.


How do players deposit and withdraw with CryptoDeposits?

How to give deposit bonus to players

How to set your withdraw maturity dates

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