VCoins and Prizes
Info on purchasing VCoins and Prizes
What are VCoins and VCash?
How Does Our New Dual Currency System Work?
Purchase and accumulate VCoins to play in VCoin Contests. VCoins cannot be exchanged for cash. When you purchase VCoins you are given bonus sweepstakes prizes of VCash.
Use VCash to play in VCash Contests. VCash prizes can be redeemed for real cash through the wallet section of the site, see terms and conditions.
Switch between the two currencies by clicking the "switch currency" button in the top right corner.
VCoins are similar to the tokens you use at an arcade to play games. You will need to purchase VCoins in order to play a contest.
How do I receive my prize money? How long does it take?
You can choose to have your prize sent to your PayPal account or you can request a check.
Checks are sent out each Monday following the game day. If you submit your claim before Monday morning your check will be sent out that Tuesday. If you wait until after Tuesday morning, your check will be sent out the following Tuesday.
If you choose to be paid via paypal, it usually takes one to two days after you submit your claim.
Do I have to pay taxes on the prize money I win?
Yes. If you win more than $599 on Vektor Sports over the course of the year, you may have to pay taxes on your winnings. All users who have won more than $599 over the previous calendar year can expect to receive a 1099 Tax Form from us in the mail, which we are required to file with the IRS.
What about a Tie?
In case of a tie among Contestants, the tied users split the total value of the prizes awarded for all the tied places. For example, if 2nd place in a contest pays $300 and 3rd place pays $100, those two places get combined (300+100) and divided among the tied contestants. In this case each user who tied for second place would receive $200.
