SportX has announced a new head-to-head March Madness-style tournament, the Spring Cup, with a guaranteed $10,000 prize pool ahead of the men's college basketball season that gets underway on March 18.
The sportsbook is hosting a similar event, with 64 participants who will take part in a series of one-day profit or loss matchups. Each winner is moved up a spot and the loser leaves the race.
To become a winner, an account holder must have the most winning bets settled in the 24-hour period of each “matchup”. SportX welcomes bettors to place as many wagers as they see fit with no cap on the amounts or staking activity.
Elaborating on the rules, SportX has explained that what matters in the end is your net win. In other words, a participant who has bet $10,000 but is -$1,000 would lose to someone who's bet $10 and won $1.
This new March Madness-style tournament will emulate the weekend tournament schedule, with the difference being that this time around, participants would only be vying against a single person instead of the weekly free-for-all.
SportX has sent a fair warning to any individual who may consider trying using “wash trading” or any similar strategies to gain an unfair advantage. There are a total of three prizes to claim:
- The Inaugural SportX Spring Cup NFT
- $5,000 DAI