US/EST: 27 Nov 2021 02:49

ChipMeUp $

Receive a discount on ChipMeUp $ fees now! See the article here.

ChipMeUp $ is a great way of buying and selling shares. This new method allows you to purchase shares with the money in your ChipMeUp balance. Not only is this a faster way of purchasing your shares, but it's much easier because you don't have to manually transfer the money through a poker site of merchant account. Below are the important things to know about ChipMeUp $ share payments:
  • When buying and selling shares with ChipMeUp $, the money is transferred between ChipMeUp accounts.
  • This now allows buyers to deposit one time into ChipMeUp and purchase multiple shares from different sellers.
  • If you sell shares and offer 'ChipMeUp $' as a payment method, you must pay out winnings with ChipMeUp $. This makes it much easier for the buyer to keep track of their share purchases.
  • If you don't have enough money in your ChipMeUp balance you can deposit into your account [here]
  • As a seller, when using this payment method, the money you receive will be locked until after you enter results for the event - You will not be able to withdraw or spend this money.
    IMPORTANT: This means you'll need to already have the money for the event as you can't use the money you receive to buy in.
  • Because the money is held by ChipMeUp, we can retrieve the money for the share for the buyer if the seller is a scammer. If the seller does not play the event or enters incorrect results, the cost of the share will be returned to the buyer and the seller banned.
  • As a seller, you will find that you get more buyers if you choose this method as a payment option as people will prefer the convenience of ChipMeUp $.
  • There is a 3.5% fee for buyers when transferring money via this method. We believe this a fair amount given the benefit the buyer and seller receives by guaranteeing the cost of the share and the convenience of instant transfers.

    Receive a discount on ChipMeUp $ fees now! See the article here.

What are the advantages?
As a seller
  • You can more easily manage lots of small shares. Our statistics show that people would much rather buy a $2 share at 200% then a $30 share at 110% of par value*. You can accept the money for smaller shares without the hassle of logging into poker sites and checking the transfers went through. It will also help with payouts - rather than having to pay out 40 separate users via a poker site transfer, you simply make sure your ChipMeUp account has enough money in it, then a single click will pay out all users.
  • Shares bought with ChipMeUp $ will be automatically marked as 'sold', so you don't have to manually change the share statuses.
  • It makes your event more attractive to buyers - it is easier for investors to buy your shares and their share costs are guaranteed by ChipMeUp

As a buyer
  • Your share price is guaranteed by ChipMeUp (not winnings though)
  • You can buy shares without having to login to poker sites and perform transfers
  • You can easily see who has paid you out and what is still owing without searching through transaction histories on poker sites

What are the disadvantages?
As a seller
  • You do not receive the funds for an event until after you have played the event, this means you must have enough funds to cover the event out of your own bank roll

As a buyer
  • It costs 3.5% of the share price to use ChipMeUp $ - this goes to guarantee your share price and cover the increased work ChipMeUp has to do.

    Receive a discount on ChipMeUp $ fees now! See the article here.

*par value: An indication of how expensive a share is. A 10% share in a $100 event sold for $10 is considered "100% of par value". If 10% is sold for $15 it is considered to be "150% of par value".