TERMS OF SERVICE
Ultrinsic offers a peer-to-peer Internet destination where participants can compete in fee-based multi-player contests. Just like in real land-based contests, the players pay an entry fee and may win cash prizes. Ultrinsic also offers a platform where students wager and buy insurance on the outcome of their college grades and on outcome of their college GPA’s
This is a legal agreement between you and Ultrinsic. “Ultrinsic” means Ultrinsic Motivator Inc. “You” refers to registered user of Ultrinsic’s web site and services. This document explains how the agreement is made up, and sets out some of the terms of that agreement.
It is required that you review, accept and agree to be bound by these Terms and Conditions and recognize the decisions of the site's administrators as final, before participating in any contest. These rules spell out the important aspects of eligibility, registration, tax consequences and etc. All rules, regulations contained herein are subject to change and revision by the management without prior written notice.
You shall periodically review these Terms and Conditions posted at this Web site at a rate not less than once monthly. Ultrinsic cannot change the rules ex post facto. PLEASE READ THEM IN THEIR ENTIRETY.
AGE RESTRICTION FOR USING ULTRINSIC.COM
Ultrinsic.com is designed as entertainment services for adults and are therefore restricted to individuals of legal age. As a typical guideline for the U.S., players must be over 18 years old. However, if Player resides in Nebraska or Alabama, he/she must be at-least 19 years of age, and if in Mississippi, over 21 years old.
All Minors in their respective Jurisdiction are strictly forbidden to play at Ultrinsic.com - no exceptions!
LOCATION ELIGIBILIY OF PARTICIPANTS
At the time of registration, you must be located in a U.S. state in which participation in the contest offered on the Site is unrestricted by law.
To open an account and participate in any contest offered on the Site, you must:
Be assigned to the e-mail address submitted during your account registration;
Fit the Age Requirement above;
Maintain an address located in New York or Pennsylvania
Note: The Site makes no representations or warranties, implicit or explicit, as to your legal right to participate in any contest offered on the Site. You are subject to all laws of the state, province and/or country in which you reside and from which you access the Site and you are solely responsible for obeying those laws. You agree that the Site cannot be held liable, if laws applicable to you restrict or prohibit your participation.
The Site reserves the right to monitor the location from which your access the Site and the right to block access from any jurisdiction in which participation is illegal or restricted.
Appropriate data security standards and location verification requirements are in place and were designed intentionally to block persons located out of New York and Pennsylvania, and to prevent unauthorized access by any person whose current location has not been verified in accordance with such State's law or regulations.
ACCURACY OF INFORMATION
You represent and warrant that all information you supply to the Site is complete and accurate. Knowingly submitting incomplete or inaccurate information will result in immediate termination of your account and forfeiture of any prizes to which you are otherwise entitled.
OFFICIAL TRANSCRIPT
You, the student, are responsible to pay any fees related to obtaining your official transcript from your school.
You are responsible for the delivery of your official transcript to Ultrinsic. Ultrinsic is not responsible for obtaining your official transcript nor is Ultrinsic responsible for the delivery of your official transcript from your school to Ultrinsic. This includes but is not limited to the following situations: if you request an official transcript from your school and your school does not send it or if you request an official transcript from your school and the school sends it to Ultrinsic but the transcript is not received by Ultrinsic before the last day to submit transcripts.
It is fraud to knowingly misrepresent one’s grades to Ultrinsic.
PROOF OF GRADES
Ultrinsic retains the right to decide what constitutes sufficient proof of grades. An official transcript is an example of valid proof. At Ultrinsic’s discretion, other forms of proof may be accepted such as an administrators word. At Ultrinsic’s discretion, Ultrinsic can require two forms of proof.
CALCULATION OF GRADE POINT AVERAGE (GPA)
Ultrinsic calculates a student’s GPA according to the rules of that student’s school.
PAYMENT OF WINNING BETS
Ultrinsic will add the prize money from Ultrinsic Contest to a winning player’s account at most six weeks after the last day to submit transcripts for the Ultrinsic Contest.Because one student’s winning in the Ultrinsic contest are based on other student’s winning, if a student doesn’t claim and confirm their Ultrinsic Contest winnings by the last day to submit transcripts for the Ultrinsic Contest then they forfeit the winnings from Ultrinsic Contest.
Ultrinsic will add the prize money from Individual Course Wagers, Individual Insurance Wagers, Multi-Course Bets, GPA bet, and GPA Insurance bets at most 3 weeks after Ultrinsic receives all the necessary information confirming that a student actually won their bet.
Withdrawal
Ultrinsic reserves the right to pay the student with cash, checks and refunding of the customer’s credit card purchases. For example if Ultrinsic owes a student $100 and the student initially funded their account with their credit card for $50, Ultrinsic may pay them by refunding their credit card for $50 and issuing a check for the other $50.
ADDITIONAL CONTEST RULES
If a contest is completed and there is no winner, Ultrinsic retains all of the prize money of that contest.
ACCESS TO SCHOOL ACCOUNT
Providing Ultrinsic with your username and password for your online school account, you authorize Ultrinsic to access the account and to view and/record any information in your account.
FRAUDULANT ACTIVITY
Any player attempting any fraudulent activity, will be disqualified from play, denied prize-winnings, and if warranted, reported to the authorities.
FULL ASSUMPTION OF RISK OF LOSS AND INDEMNIFIATION
Players who choose to use Ultrinsic.com do so at their own discretion and risk. As in any money-based game, there is the risk of loss of money.
Player shall not participate in gambling on their grades (nor accept any Prize) if Player does not fully understand, agree to, become a party to, and shall abide by, without exception, all rules, regulations, terms and conditions contained herein and that such rules, regulations, terms and conditions may change from time-to-time.
Player agrees to hold Ultrinsic, its employees, officers, directors, licensees, affiliates, partners, subsidiaries, advertising, promotion or other agencies, and agents completely harmless and fully indemnify them from any and all costs, expenses, liabilities and all damages whatsoever that may arise as a result of Player's; (i) entry or use the Web site, (ii) use of any materials at the Web site, (iii) entry or participation in fee-based contest, (iv) incurring Losses or the acceptance of any Prizes, or (v) participating in any form of wager on player's grades.
GOVERNING LAW AND DISPUTES
These Terms and Conditions will be governed and construed in accordance with the laws of the State of Delaware, irrespective of any principles of conflicts of law. You further agree that any legal action arising from any dispute shall proceed only in the state or federal courts located in the State of Delaware, and you hereby submits to personal jurisdiction and venue in such courts for the purposes of litigating any such action.
ENTIRE AND UNMODIFIED AGREEMENT
These Terms and Conditions, in connection with the other obligations and rules detailed in writing on the Site, constitute the entire agreement between you and the Site and cannot be modified by you. The Terms and Conditions cannot be modified on an individual basis by any person affiliated, or claiming affiliation, with the Site. Nothing in this subsection will prevent the Site from modifying the terms of these Terms and Conditions and posting such modifications on the Site.
VALIDITY AND ENFORCEABILITY
If any portion of these Terms and Conditions is deemed void or unenforceable, then that provision shall be deemed severable from these Terms and Conditions and shall not affect the validity and enforceability of the remaining provisions.
SITE DISCLAIMER
By registering for an account and/or participating in any contest offered on the Site, you agree that the Site is not responsible for any damage, loss, or injury resulting from use, access, or attempted use or access of the Site. You further agree that the Site is not liable for any damage, loss, or injury caused by downloading any information from the Site. Without limiting the generality of the foregoing, you agree that the Site is not liable for any damage to the your personal computer, any damage, loss, or corruption of data, or any consequential or incidental damages arising from use of the Site.
NO WARRANTY TERMS OF SERVICE
Ultrinsic offers a peer-to-peer Internet destination where participants can compete in fee-based multi-player contests. Just like in real land-based contests, the players pay an entry fee and may win cash prizes. Ultrinsic also offers a platform where students wager and buy insurance on the outcome of their college grades and on outcome of their college GPA’s
This is a legal agreement between you and Ultrinsic. “Ultrinsic” means Ultrinsic Motivator Inc. “You” refers to registered user of Ultrinsic’s web site and services. This document explains how the agreement is made up, and sets out some of the terms of that agreement.
It is required that you review, accept and agree to be bound by these Terms and Conditions and recognize the decisions of the site's administrators as final, before participating in any contest. These rules spell out the important aspects of eligibility, registration, tax consequences and etc. All rules, regulations contained herein are subject to change and revision by the management without prior written notice.
You shall periodically review these Terms and Conditions posted at this Web site at a rate not less than once monthly. Ultrinsic cannot change the rules ex post facto. PLEASE READ THEM IN THEIR ENTIRETY.
AGE RESTRICTION FOR USING ULTRINSIC.COM
Ultrinsic.com is designed as entertainment services for adults and are therefore restricted to individuals of legal age. As a typical guideline for the U.S., players must be over 18 years old. However, if Player resides in Nebraska or Alabama, he/she must be at-least 19 years of age, and if in Mississippi, over 21 years old.
All Minors in their respective Jurisdiction are strictly forbidden to play at Ultrinsic.com - no exceptions!
LOCATION ELIGIBILIY OF PARTICIPANTS
At the time of registration, you must be located in a U.S. state in which participation in the contest offered on the Site is unrestricted by law.
To open an account and participate in any contest offered on the Site, you must:
Be assigned to the e-mail address submitted during your account registration;
Fit the Age Requirement above;
Maintain an address located in New York or Pennsylvania
Note: The Site makes no representations or warranties, implicit or explicit, as to your legal right to participate in any contest offered on the Site. You are subject to all laws of the state, province and/or country in which you reside and from which you access the Site and you are solely responsible for obeying those laws. You agree that the Site cannot be held liable, if laws applicable to you restrict or prohibit your participation.
The Site reserves the right to monitor the location from which your access the Site and the right to block access from any jurisdiction in which participation is illegal or restricted.
Appropriate data security standards and location verification requirements are in place and were designed intentionally to block persons located out of New York and Pennsylvania, and to prevent unauthorized access by any person whose current location has not been verified in accordance with such State's law or regulations.
ACCURACY OF INFORMATION
You represent and warrant that all information you supply to the Site is complete and accurate. Knowingly submitting incomplete or inaccurate information will result in immediate termination of your account and forfeiture of any prizes to which you are otherwise entitled.
OFFICIAL TRANSCRIPT
You, the student, are responsible to pay any fees related to obtaining your official transcript from your school.
You are responsible for the delivery of your official transcript to Ultrinsic. Ultrinsic is not responsible for obtaining your official transcript nor is Ultrinsic responsible for the delivery of your official transcript from your school to Ultrinsic. This includes but is not limited to the following situations: if you request an official transcript from your school and your school does not send it or if you request an official transcript from your school and the school sends it to Ultrinsic but the transcript is not received by Ultrinsic before the last day to submit transcripts.
It is fraud to knowingly misrepresent one’s grades to Ultrinsic.
PROOF OF GRADES
Ultrinsic retains the right to decide what constitutes sufficient proof of grades. An official transcript is an example of valid proof. At Ultrinsic’s discretion, other forms of proof may be accepted such as an administrators word. At Ultrinsic’s discretion, Ultrinsic can require two forms of proof.
CALCULATION OF GRADE POINT AVERAGE (GPA)
Ultrinsic calculates a student’s GPA according to the rules of that student’s school.
PAYMENT OF WINNING BETS
Ultrinsic will add the prize money from Ultrinsic Contest to a winning player’s account at most six weeks after the last day to submit transcripts for the Ultrinsic Contest.Because one student’s winning in the Ultrinsic contest are based on other student’s winning, if a student doesn’t claim and confirm their Ultrinsic Contest winnings by the last day to submit transcripts for the Ultrinsic Contest then they forfeit the winnings from Ultrinsic Contest.
Ultrinsic will add the prize money from Individual Course Wagers, Individual Insurance Wagers, Multi-Course Bets, GPA bet, and GPA Insurance bets at most 3 weeks after Ultrinsic receives all the necessary information confirming that a student actually won their bet.
Withdrawal
Ultrinsic reserves the right to pay the student with cash, checks and refunding of the customer’s credit card purchases. For example if Ultrinsic owes a student $100 and the student initially funded their account with their credit card for $50, Ultrinsic may pay them by refunding their credit card for $50 and issuing a check for the other $50.
ADDITIONAL CONTEST RULES
If a contest is completed and there is no winner, Ultrinsic retains all of the prize money of that contest.
ACCESS TO SCHOOL ACCOUNT
Providing Ultrinsic with your username and password for your online school account, you authorize Ultrinsic to access the account and to view and/record any information in your account.
FRAUDULANT ACTIVITY
Any player attempting any fraudulent activity, will be disqualified from play, denied prize-winnings, and if warranted, reported to the authorities.
FULL ASSUMPTION OF RISK OF LOSS AND INDEMNIFIATION
Players who choose to use Ultrinsic.com do so at their own discretion and risk. As in any money-based game, there is the risk of loss of money.
Player shall not participate in gambling on their grades (nor accept any Prize) if Player does not fully understand, agree to, become a party to, and shall abide by, without exception, all rules, regulations, terms and conditions contained herein and that such rules, regulations, terms and conditions may change from time-to-time.
Player agrees to hold Ultrinsic, its employees, officers, directors, licensees, affiliates, partners, subsidiaries, advertising, promotion or other agencies, and agents completely harmless and fully indemnify them from any and all costs, expenses, liabilities and all damages whatsoever that may arise as a result of Player's; (i) entry or use the Web site, (ii) use of any materials at the Web site, (iii) entry or participation in fee-based contest, (iv) incurring Losses or the acceptance of any Prizes, or (v) participating in any form of wager on player's grades.
GOVERNING LAW AND DISPUTES
These Terms and Conditions will be governed and construed in accordance with the laws of the State of Delaware, irrespective of any principles of conflicts of law. You further agree that any legal action arising from any dispute shall proceed only in the state or federal courts located in the State of Delaware, and you hereby submits to personal jurisdiction and venue in such courts for the purposes of litigating any such action.
ENTIRE AND UNMODIFIED AGREEMENT
These Terms and Conditions, in connection with the other obligations and rules detailed in writing on the Site, constitute the entire agreement between you and the Site and cannot be modified by you. The Terms and Conditions cannot be modified on an individual basis by any person affiliated, or claiming affiliation, with the Site. Nothing in this subsection will prevent the Site from modifying the terms of these Terms and Conditions and posting such modifications on the Site.
VALIDITY AND ENFORCEABILITY
If any portion of these Terms and Conditions is deemed void or unenforceable, then that provision shall be deemed severable from these Terms and Conditions and shall not affect the validity and enforceability of the remaining provisions.
SITE DISCLAIMER
By registering for an account and/or participating in any contest offered on the Site, you agree that the Site is not responsible for any damage, loss, or injury resulting from use, access, or attempted use or access of the Site. You further agree that the Site is not liable for any damage, loss, or injury caused by downloading any information from the Site. Without limiting the generality of the foregoing, you agree that the Site is not liable for any damage to the your personal computer, any damage, loss, or corruption of data, or any consequential or incidental damages arising from use of the Site.
NO WARRANTY PROVIDED
All Goods and services provided on the Site are herein provided on an "As Is" basis, without Warranty of any kind, either Express or Implied, including but not limited to Implied Warranties of Merchantability, Fitness for a particular purpose. No person affiliated with Ultrinsic, or claiming any affiliation has any authority to extend any such warranties.
You understand and unconditionally agree that Ultrinsic cannot be held responsible for any browser issue or any other related or unrelated malfunction that your computer system may experience.
ACCEPTANCE OF RISK OF DISCONNECTIONS
You must understand and accept the risk of Internet disconnections as they can and do occur - there are many separately managed networks connecting your location to Ultrinsic - each is a potential point of occasional failure.
ADDITIONAL LIMITATIONS ON PLAYER PARTICIPATION
You may establish only one account to participate in the activities offered on the Site. The Site reserves the right to monitor any effort to establish multiple accounts; in the event the Site discovers that your have opened more than one account, all of your accounts can be terminated. Your represent and warrant that all information you supply to the Site is complete and accurate. Submitting incomplete, false, or inaccurate information will result in immediate termination of your account and forfeiture of any prizes or money to which you are otherwise entitled. The Site may impose a dollar amount limitation on the credit card transactions in which you engage to fund activities on the Site. The Site may also impose limitations on the net dollar amount you may lose on the Site during a specific period. Should your losses reach the internally-designated limit, you may be restricted from entering a contest. The Site reserves the right to change these dollar amount limitations at any time.
LEGALITY AND TAXES
You are subject to all laws of the state, province and/or country in which you reside and from which you access the Site and you are solely responsible for obeying those laws. You agree the Site cannot be held liable if laws applicable to you restrict or prohibit the your participation. The Site makes no representations or warranties, implicit or explicit, as to your legal right to participate in any contest offered on the Site nor shall any person affiliated, or claiming affiliation, with the Site have authority to make any such representations or warranties. The Site reserves the right to monitor the location from which your access the Site and to block access from any jurisdiction in which participation is illegal or restricted. The Site may require any participant receiving any prize to provide the Site with proof that he or she is eligible to participate. It is the policy of the Site, in compliance with United States Internal Revenue Service regulations, to send a Form 1099 to any person who wins in excess of $600 (USD) on the Site in any given year. However, you remain solely responsible for paying all federal and other taxes in accordance with the laws that apply in your state, province, and/or country of residence.
ACKNOWLEDGEMENT OF PROPRIETARY RIGHTS
By accessing the Site, a person acknowledge that all information contained on the Site may be protected, in all forms and media, by one or more valid copyrights, patents, trademarks, trade secrets, or other proprietary rights, and that all such rights are owned by the Site. A person may not modify, publish, or create derivative works from, or in any way exploit this information.
CREDIT CARD AND PAYPAL USE
In order to maintain data accuracy and ensure the correct use of information, Ultrinsic has put in-place appropriate electronic and managerial procedures to safeguard and secure the information we collect on-line. Ultrinsic utilizes sophisticated encryption technology to ensure that sensitive data is transferred securely and the Site is protected by latest firewall systems.
Members must keep their personal account information (Name/Password) strictly confidential and are solely responsible for their account transactions. It is an account holder’s direct responsibility to securely log-off the Site after accessing his/her account to prevent any unauthorized access. The account holder agrees that the Site is not liable for any loss caused by any unauthorized use of the account holder’s credit card or other method of payment by a third party (e.g. PayPal) in connection with this Site.
Any attempt to defraud the Site through the use of credit cards or other methods of payment, regardless of the outcome, or any failure by an account holder to honor legitimate charges or requests for payment will result in immediate termination of his/her account, forfeiture of any prizes to which the account holder maybe otherwise entitled, and civil and/or criminal prosecution.
ATTEMPTED UNAUTHORIZED ACCESS OR TAMPERING
By registering for an account and/or participating in any contest offered on the Site, you agree that the Site is not responsible for any damage, loss, or injury resulting from tampering, or other unauthorized access or use of the Site or your account. Any attempt to gain unauthorized access to the Site's systems or any account, interfere with procedures or performance of the Site, or deliberately damage or undermine the Site is subject to civil and/or criminal prosecution and will result in immediate termination of your account and forfeiture of any and all prizes to which you may have been otherwise entitled to.
PROMOTIONAL ACTIVITIES
By registering for an account, you agree that the Site may display your name and contest records. By accepting any prize from the Site, you agree to allow the Site to print, publish, broadcast and use, worldwide, in any media and at any time, your name and biographical information for promotional purposes without additional compensation.
SUBMISSIONS
If you send comments or suggestions to the Site, such submissions shall become, and shall remain, the sole property of the Site. No submission shall be subject to any obligation of confidence on the part of the Site. The Site shall exclusively own all rights to, and shall be entitled to unrestricted use of, all such submissions without any compensation to you.
REQUIRED INFORMATION
At registration, you are required to submit the following information: your full name, your school email address, a password, permanent residential address, phone number and credit card information. In addition, if your total winnings on the Site in any given year reach $600, the Site will request that you submit your social security number in order to send you a Form 1099, as required by Internal Revenue Service regulations. Failure to provide your social security number at that time will result in the Site's inability to credit your account for any winnings in excess of $600.
OUR PRIVACY POLICY
The Site will not intentionally disclose any personally identifying information about you (including information submitted on the application form, your e-mail, your transcript and information regarding your IP address) to third parties without your consent, except where the Site, in good faith, believes such disclosure is necessary to comply with the law or to enforce these Terms and Conditions or other rules of the Site. Your opening of an account constitutes consent for the Site's disclosure of personal information as described above.
Also, Ultrinsic will display the contestants and winners of Ultrinsic Contest.
ANTI-SPAM POLICY
By registering for an account and/or participating in any contest offered on the Site, you agree not to use 'Spam' techniques to attempt to obtain referrals/affiliates to the Site. For purposes of this section, 'Spam' includes all unsolicited electronic messages sent to recipients with whom you have no prior relationship, and may occur by e-mail, forums, chat rooms, instant messaging, and other forms of electronic messaging. Engaging in 'Spam' techniques in connection with your participation on the Site will result in the immediate termination of your account and all your privileges.
ACCOUNT TERMINATION
The Site reserves the right to terminate your account or decline or limit your participation in any site activity for any reason, including, but not limited to harassment of other participants, making libelous statements, or any breach of the terms of the agreement between you and the Site, and any breach of the security of your account or the Site. By registering for an account and/or participating in any contest offered on the Site, you consent to allow the Site to access your account information to investigate complaints or other allegations of abuse.
YOUR RESPONSIBILITY
Registering for an account and/or participating in any contest offered on the site signifies your knowledge, understanding and full and unconditional acceptance of this agreement, in it's most current version. The Site may modify these Terms and Conditions at any time; your continued use of the Site following such modifications signifies your acceptance of all those modifications. You are solely responsible periodically reviewing Ultrinsic Terms and Conditions for any such modifications.
If you have any questions about Terms & Conditions, you can contact us and we would be glad to assist you.
ACADEMIC HISTORY
The academic history and current class schedule that you give Ultrinsic when placing a bet must match up exactly to the verified academic history that Ultrinsic receive at the end of the semester. This responsibility remains on you even if Ultrinsic downloads your academic history inaccurately at the beginning of the semester from your online student account or if the you email your academic history to Ultrinsic and Ultrinsic inaccurately uploads the information to the your account. In all situations it is your responsibility to check to make sure that Ultrinsic has the correct information posted to your account.
In the event that you should add or drop a course, you are responsible for informing Ultrinsic. Ultrinsic, at their discretion, will change the odds for the student’s outstanding bets to whatever Ultrinsic sees fit.
In the event that the your verified transcript does not reflect the academic history and current schedule that you provided to Ultrinsic then it is considered that you either may have lost all the bets that you placed or Ultrinsic might adjust the odds for the bets to whatever Ultrinsic sees fit. If the mistake is in the current semester schedule then Ultrinsic will just adjust the odds to whatever Ultrinsic sees fit. If there is one mistake in the academic history then Ultrinsic will charge a change fee of $5 and just adjust the odds to whatever Ultrinsic sees fit. If there is more than one mistake in your history then you lose all your bets for that semester.
In the event that your academic history is not accurate and you entered the Ultrinsic Contest, the target GPA will be changed based on your correct GPA and the equation that Ultrinsic used to determine the target grades for the Ultrinsic Contest participants. If not already subject to the $5 change fee, the student will be subject to it now.
WAGERS AND INSURANCE
When you make a bet the “wager” is the amount of money you are betting and the “payout” is the amount of money you receive if you win the bet. If you lose the bet than you lose the “Wager” amount. Winning and losing the bet is based on reaching the specified conditions of each bet.
In regards to insurance, “Premium” is the amount bet and coverage is the payout that you receive if you win the bet. Winning and losing the bet is based on reaching the specified conditions of each bet.
4.0 GPA WAGER
You must be a first semester freshman. This means that the only credits as of the date that you enter the wager that you can have on your undergraduate transcript are Advanced Placement Credits
All your classes in college must be taken for a grade (no pass/fail classes)
The following table outlines 3 requirements that apply to the 4.0 bet and how they work when taking the 4.0 bet over different amounts of time. First, the requirements “If your school requires students to take ‘X’ amount of credits to receive a BA. Then this requirement is for you to take this % of ‘X’ credits” gives you the equation to calculate how many credits you must take and receive a 4.0 in your school inorder to win the bet. These credits must be taken in the school for which you enroll in the 4.0 bet and cannot be taken at another institution. Second, the requirement “Degree Requirements” refers to what kind of a degree you must receive to win the bet. Third, “Time to complete credits for bet” refers to how long you have from the point where you begin your first college course to complete the bet.
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4.0 Bet Requirements
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4.0 Bet Type
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1 semester
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1 year
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2 years
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4 years
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If your school requires students to take ‘X’ amount of credits to receive a BA. Then this requirement is for you to take this % of ‘X’ credits
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10% of total credits needed to graduate
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20%
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40%
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80%
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Degree Requirements
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None
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None
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None
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Must graduate with a degree from current school
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Time to complete credits for bet
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1 semester
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1 year
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2 years
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4 years
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SEMESTER GPA WAGER AND GPA INSURANCE
This is a bet that your final semester GPA (GPA means grade point average) will be equal or greater than the GPA specified as the “Winning GPA”. If your real GPA at the end of the semester exceeds your “Winning GPA” then you win.
As opposed to the GPA Wager, GPA Insurance is won by having a GPA that is less than or equal to the GPA specified in “Policy Terms”
COURSE WAGER AND COURSE INSURANCE
For the course wager, you specify what your “winning grade” will be in a particular course and if your actual grade in that course at the end of the semester is equal to or greater than that specified grade then you win the bet. If not then you lose.
For Course Insurance, you specify what your “Policy Terms” are and if you receive a grade that is equal to or lower than the grade specified in “Policy Terms” then you win. If you do better than the specified grade then you lose.
ULTRINSIC CONTEST
To enter the Ultrinsic Contest the student must pay his entrance fee. The student can choose to enter 1 pot or 2 pots. The entrance fees are displayed on the buy-in page. If the student enters the first pot he is charged the entrance fee for the first pot but if he wants to enter the second pot he must first enter the first pot and therefore, if he has not entered the first pot yet, he is charged an entrance fees for the first and second pots. When entering the pot you are assigned a target grade for the specific class which you are signing up for. In order to win, you must achieve that target grade or higher to win. This target grade is based taking your GPA and adding to it a margin that the student must do better on to win. While a 3.0 student and a 3.5 student in the same school may have a different margin that they have to improve by because the difficulty of improving varies depending on a students base GPA, two 3.0 students in the same school will have the same margin which they have to improve by.
The pot that the students are competing for is built with the contributions from the various students. Ultrinsic takes a 10% rake from the total amount in the pot. There will be 'pot seeding discounts' which means that the first couple of people to enter a pot will have to pay less of an entrance fee than the normal fee. The pot seeding discounts will vary depending upon which position a student enters a pot. For instance, the first person might have a 20% discount while the second person to enter might have a 10% discount. The pot seeding discounts will result in less money being put in the pot and ultimately in less prize money for the winners. The schedule of the 'pot seeding discount' will be published on somewhere on the site Ultrinsic.com
Once school starts, the cost of entering the pots will begin to escalate. This is known as the 'time premium.' The formula for calculating the 'time premium' will be determined by Ultrinsic but does not have to be published. However, the formula will only result in the cost of entering a contest escalating over time; the cost of entering a contest will never go down as time goes on. The extra money raised from the increased cost of entering will be placed into the pot and the winners will ultimately split the extra money.
At the end of the semester all the students achieved their target grade for the Ultrinsic Contest must send proof of their grades befor
