I would assume that it would mean all bets that have been placed.
You are right about this part. Basically it would all bet that received a returning transaction from us be it winning or losing. Those bet refunded with various reasons(like exceeding max win limit) are not valid bets by definition.
We don't have much to disclose at this stage while the token system design is not firmed yet. One month is a good guess for the ETA so far. It would follow the bitcoin mining algorithm which is halving every certain percentage after a certain portion of token is mined. In other words, early bird always mines more than late comers. Don't hesitate to join our Discord channel if you have more question.
Thanks for the interest, see you in the game!