When the new day starts in europe? [Squad Rewards Tournament]

Hello all, i am completely new to this and i am really sloppy. Can i know which timezone is gonna be used? for example: the new day for Razer Cortex starts at my midnight or on 1 am? or even 3 am? Also i got another question even if prolly i know the answer already: If i redeem the 20 hours prize, am i going to lose the 20 hours? Thanks to whoever answers!