The poserFish.com Rules

 

Getting Started | Key Terms | FAQ | Payment Options General Overview         poserFish.com is a peer-to-peer betting network that was created to provide a place for people to come together and make wagers directly against one another on any topic or event they wish. poserFish.com does not create or decide the outcome of the bets that are available on the site. The bets are entirely made and managed by the network's members. poserFish.com works just like two friends betting on the outcome of a given event. Bets available on the site range in topic and value. Topics span many areas, from sports to reality shows. Bet values range in value from $1 to $1000 and any value in-between. How It Works         People interested in participating begin by registering as a poserFish.com member. After adding funds to their account, the member fills out a simple form that defines the information pertaining to their bet. The member then activates the bet by using funds from their poserFish.com account. After activation, the bet becomes searchable and viewable by the public.       Once a bet is made active, other poserFish.com members can find and take the bet. The members can find bets they are interested in by browsing through the bets, searching for bets using keywords or by setting up automated alerts that will send them an e-mail when a bet that matches their interests is activated. The potential taker examines the details and terms of the bet and if the bet appeals to them, they take it. The appropriate amount of money is held for the bet from the taker's account.       It is then up to the members involved in the bet to decide on the outcome. Once each member agrees on a winner, the winning amount is moved from the loser's account to the winner's account. poserFish.com members can cash out anytime they want without cancelling their membership.       poserFish.com makes its money by applying a small commission to the winning amounts only. The commission is paid in return for holding the waged funds, guaranteeing payment to the winner and providing and maintaining the poserFish.com network. Creating A Bet   Creating a good bet: When you create a bet, there are three important components to consider: bet name, bet description, and clarify win/loss. Bet Name: The name of the bet is the first thing other members will see as they browse bets and decide on bets to take. The bet name should include the main idea of your bet. An example of this would be the name of a sports team like the Giants or the Raiders or any current pop-culture event, like the marriage of Tom Cruise and Katie Holmes. Bet Decription: This is where to include the details of the bet. Be specific and clear, as members will not take the bet if they cannot understand what exactly they are betting on, and what your position is. Clarify Win/Loss: You need to be very clear as to how the bet will be decided. What side are you on? How will the outcome of the bet be determined? It is important that you are very clear and concise. You can do this by completing the statements: "I have won when..." and "I have lost when..." with an answer such as "the Lions beat the Cubs" or "The award for album of the year goes to...." Remember the odds: If your bet seems somewhat off the wall, try to attract takers by adjusting the odds. Remember, the more attractive the payoff, the greater the chances are that takers will take a risk on your bet. Choosing who's allowed to bet: When creating your bet, you can decide if it is public or private. A public bet is open to all poserFish.com members. Anyone can take the bet. A private bet is open only to members that you choose. When creating a private bet, you can choose members individually or in groups by using the group manager. Choosing Arbitration: Sometimes the maker and the taker cannot agree on the outcome of a bet. If you choose arbitration when creating your bet, if the maker and taker do not agree on an outcome, the bet will be decided by the poserFish.com community. By vote, the community will decide on the winner/loser of the bet and this decision will be final. If arbitration is not chosen, and a bet is disagreed upon, then it will become a disputed bet, which will result the return of funds to both parties and a slight adjustment of each member's karma rating. Pick a close time: It is important that you choose a close date that is before the actual event you are betting on takes place. This will prevent takers from taking your bet when they already know the outcome. The close date should also allow time before the event. This will increase the chance that takers will take your bet. Taking A Bet   Choose the right bet: Find a bet that you think you can win. Be sure to read the complete description and know exactly how the bet will be decided. Check the odds: Even if a bet seems unlikely, it might still be worth taking. Look at the odds. It may be worth the risk. Check the maker's profile: Look at the maker's profile. This will help you decied how trustworthy they are. A bet cannot be made without the money to back it up, so this should not be a concern to you. The question is, "Will this maker agree on the outcome?" A member may have low Karma points for two reasons. One: They are a new user. Two: They have disagreed on the outcome of bets, have not chosen arbitration, therefore causing a disputed bet. A member's Karma points should always be taken into consideration. The Bet Outcome   Once a bet is submitted for processing, the user cannot change the decision they submitted. If the users submit different decisions, the bet will be returned to them to submit a new decision. If different decisions are submitted a second time, the bet it processed using the way defined when the bet was created. All bet outcomes are determined in one of the following ways: If The Maker and Taker Agree On The Outcome: If the maker and taker agree on the outcome, then whatever they decide (Win/Loss/Draw) will be the outcome. If The Maker and Taker DO NOT Agree On The Outcome: If the maker and taker agree cannot agree on an outcome the winner will be determined as such: Arbitration: poserFish Community Decides As described above, if the bet maker chooses arbitration for the bet than the poserFish community will decide the outcome. Outcome Disputed: Means Bad Karma One of the fastest ways to lose karma points is to have disputed bets in your profile. Member won't take bets from you if they think that you are not trustworthy. A disputed bet is a bet in which the members cannot agree on an outcome. Abandoned Bets: If neither member submits a decision after a standard holding period the deposit is returned to the users accounts after hold period after the event date. If only one of the parties decides then that is the decision that will be final.