Prize Payouts

Explore Checkmate's payout system for tournament winnings. Learn about prize distribution, withdrawal processes, and eligible payment methods.

All Checkmate payouts are in USDC or equivalent and paid to your preferred digital wallet unless the type pf prize is provided by a partner.

What	Description
USDC	USDC, or USD Coin, is a type of cryptocurrency known as a stablecoin pegged to the US Dollar.
Wallet	A digital asset wallet that can hold collectables and USDC. Checkmate recommends the use of non-custodial wallets.
Prize Payments	Prize pool payments are made at the end of the Fair Play window. Payments are processed the following Thursday after the integrity window has closed to your registered wallet.
Tax	Players may be required to complete any relevant tax form subject to their jurisdiction before the payments will be released.
Tipping	Players who are tipped will receive credits paid to their internal wallet.

Before you can make a withdrawal, you will need to complete an identity verification process. This is in place to follow anti-money-laundering and anti-terrorism policies and prevent fraudulent behaviour in general. These are regulations we must conform to by law.