Hi!
You can play a variety of time controls. The first field is in minutes, and that is the time you start with at the beginning of the game. Anywhere from 1 to 120 minutes. The second field is the bonus time; it is in seconds, and is the time added after each move.
the "b" indicates that if you accept you will play black. if there is a "w" it means you will play white.
What are the various time parameters available for playing live chess? Also, what does it mean when a "b" precedes the time element?