Mar 4, 2021

4 min read

🏆 The SportX Spring Cup 🏆

Are you ready for some March Madness fun?

With the March Madness NCAA basketball tournament beginning on March 18th, it’s time for the SportX community to compete against each other in a winner-take-all, head-to-head Madness-style tournament for a $10,000 prize!

📋 Rules

The SportX Spring Cup tournament is structured similarly to the March Madness tournament. There will be 64 participants that compete head-to-head in a series of 1-day profit/loss matchups.

The winner of each matchup will move on to the next round, while the loser is eliminated. Participants win by having a higher profit/loss during the 24-hour period of their matchup, based on settled bets.

You can find a live updating bracket here

There are no caps on bet amount nor starting stake. Keep in mind though anything can happen in one day; a participant with $10 of capital that is +$1 on the day would win against someone with $10,000 that is -$1,000. Having more capital means you can win by more… or lose by more.

These matchups will function identically to how we run our weekend tournaments, except you will be competing against only one other participant. Bets on any market listed on SportX will count towards the standings. In the event of a tie, the user with more bets placed will move on.

We will disqualify users that attempt to win their matchup through wash trading and/or other nefarious strategies. A minimum of one (1) bets must be placed in order for the participant to advance. In the event that neither bettor places a bet or both are disqualified, a substitute will be chosen for the following matchup.

🏆 Prizes

The Winner of the SportX Spring Cup will be receiving three different prizes:

🏆 The Inaugural SportX Spring Cup NFT
💰 10,000 SX
💵 $5,000 DAI

Th SportX Spring Cup NFT will grant its holder special status on SportX. Their name in the SportX TrollBox and Tournament leaderboards will have a Trophy next to their name. It will grant them lifetime automatic entry and a high seeding into other SportX major tournaments that will be announced soon.

The NFT can also be transferred or sold through NFT platforms like Open Sea if they so desire. Participants that make the Final 4 will receive 2,500 SX. There will be no other prizes in this tournament.

(NFT is short for Non-Fungible Token. NFT are exploding in popularity right now. Read more about NFTs here.)

🔥 Participant Selection

The 64-person bracket will be selected from four buckets:

🥇 Past Tournament Winners (6 participants)

These are participants that have won one of the following SportX tournaments that took place in 2021:

🎖 Top 5 in the SportX Conference Championships (5 participants)

There is a 3-day profit/loss tournament (March 11th to the 14th) prior to selection day called the SportX Conference Championships. Everyone on SportX is free to enter. The top 5 participants in this tournament will automatically receive entry and a high seeding into the SportX Spring Cup.

💰 SX Power Staker (50 participants)

The bulk of the participants will be drawn from this bucket. This will be the top 50 SX stakers based on their staked balance as of selection date (March 16th).

Participants must have also placed a bet on SportX in the preceding 30-days to qualify. Participants chosen in a previous bucket will not qualify as an entrant in this bucket, in which case they are excluded from the staked SX rankings.

For context, the 50th largest SX staked balance is currently: 17,534 SX. However, 10 of the current top 50 stakers haven’t placed a bet in the last 30 days and therefore wouldn’t qualify (as of now).

❤️ Community Star (3 participants)

Finally, there will also be three (3) at-large bids into the tournament for participants based on their community contribution. We’ll select participants that may not necessarily have the best betting track record or the financial wherewithal to be a top SX staker, but have contributed lots of value to the platform nonetheless.

Bracket Seeding

Participants will be ranked in order based on a combo of their past tournament performance and staked SX balance. These rankings will then be used to seed the bracket. High seeds are an advantage as they have relatively easier paths to victory. With that being said, upsets are bound to happen!

We’ll announce the tournament entrants and final bracket on March 16th!

🗓 Key Dates

Here are all the dates you need to know:

March 4th-8th: Weekend Profit Challenge 2.0 Tournament
March 11th-14th: SportX Conference Championships
March 16th: Bracket Announcement
March 19/20th: 1st Round Matchups
March 21/22nd: 2nd Round Matchups
March 27/28th: Sweet 16 Matchups
March 29/30th: Elite 8 Matchups
April 3rd: Final 4 Matchups
April 5th: The Finals

🏟 Community Links

Make a bet on the SportX Exchange, follow us on Twitter and Medium, and join the SportX community Discord!

Exchange: https://sportx.bet/
Twitter: https://twitter.com/sportx_project?lang=en
Medium: https://medium.com/sportx-bet
Discord: https://discord.gg/NBCJ8VXrcx