Rules and Regulations

Rules and Regulations

 

NOTE:

Players using VPN and login from different IP frequently may result in void bets.

And on the basis of different IP from multiple cities we can suspend the account and void bets.

 

All users are advised to read the following ‘Terms and Conditions’. All users who use Exchange agree and accept to the following:

  1. Any form of ‘Passing of funds’, ‘Self Matching’ will not be tolerated. Any users found participating in such activities will be locked with the funds being reversed. Accounts participating in such activities must note that the company reserves the right to Void any bets of such nature at any time within 1 week of the bet being placed.
  2. Please note that if any account has been locked due to ‘Passing of funds’ within the last 72 hours, the company reserves the right to void any bet of this nature within the account irrespective of when the bet was placed.
  3. No Arguments or claims in the above context will be entertained by the company and the decision made by the company will stand as final.
  4. We endeavor to have our services run 24 hours a day. However due to any technical issue, or disruption of services from our provider, the company will not be liable for any market positions that any account holders may hold.
  5. baji.live reserves the right to resettle or void any market for reasons such as technical delayed suspension from the provider. In any such case we will settle according to the provider.
  6. In case anyone is found using 2 different IDs and logging in from the same IP his winning in both accounts will be cancelled.
  7. Any bets which are deemed of being suspicious, including bets which have been placed from the stadium or from a source at the stadium may be voided at any time. The decision of whether to void the particular bet in question or to void the entire market will remain at the discretion of the company. The final decision of whether bets are suspicious will be taken by the company and that decision will be full and final.
  8. Any sort of cheating bet, any sort of Matching (Passing of funds), Court Siding (Ghaobaazi on commentary), Sharpening, Commission making is not allowed, If any user is caught in any such act then all the funds belonging to that account would be seized and confiscated. No argument or claim in that context would be entertained and the decision made by management will stand as final authority.
  9. Fluke hunting/Seeking is prohibited, All the fluke bets will be reversed. Cricket commentary is just an additional feature and facility for users but the company is not responsible for any delay or mistake in commentary.

Part A – Introduction

Restricted territory information

Please be advised that our restricted territory information pertains to both residents and visitors in the restricted areas. Accounts registered in a non-restricted territory will become restricted if they attempt to access and have betting activity from a territory which is restricted.

Restricted territory countries are Algeria, Australia, Austria, Bulgaria, Canada, China, Cyprus, Czech Republic, Democratic People’s Republic of Korea, Denmark, Europe, France (and French territories), Gibraltar, Germany, Iran, Iraq, Ireland, Italy, Japan, Malta, New Zealand, Poland, Portugal, Qatar, Romania, Singapore, South Africa, Spain, Turkey, United Kingdom and United States of America (and US territories)

We have the right to void all players’ winnings if they are deemed to come from a restricted territory.

1. Use and interpretation

The Exchange Rules and Regulations (“Exchange Rules”) are part of terms and conditions.

The Exchange Rules apply to all bets placed on Exchange markets. The Exchange Rules also apply to Exchange ’Multiples’ products (see the Multiples section below for further details). The Exchange Rules consist of the following:

  • This INTRODUCTION section (Part A);
  • The GENERAL RULES (set out in Part B below);
  • The SPECIFIC SPORTS RULES (set out in Part C below – these apply to certain sports and to financial markets); and
  • The MARKET INFORMATION (located on every market either under the tab entitled “Rules” or under the ‘Rules’).

The General Rules apply to all bets unless stated otherwise in the Market Information or the Specific Sports Rules. If there is any inconsistency between the Specific Sports Rules and the General Rules, the Specific Sports Rules shall prevail. If there is any inconsistency between the Market Information and either the General Rules or the Specific Sports Rules, the Market Information shall prevail, except where the General Rules or Specific Sports Rules use the phrase ‘regardless of what it says in the Market Information’ or similar wording.

For any category or market not referred to in the Specific Sports Rules (e.g. ’Special Bets’ or beach volleyball), the General Rules and Market Information will apply.

2. Market information

The Market Information is provided for information purposes as an at-a-glance guide on how to manage the market. The Market Information may also contain rules on market settlement, however it must always be read in conjunction with the General Rules and the relevant Specific Sports Rules and a link to this Rules and Regulations page will usually be provided in the Market Information for each market.

Whilst the Market Information may give a guide to how markets will be managed, regardless of what it says in the Market Information, it reserves the right to suspend any market at any time at its sole discretion, including in order to carry out necessary administration and/or to take any necessary action to protect the customers.

It shall not amend the Market Information after a market has been loaded except to correct obvious errors and/or to add wording to clarify the Market Information where appropriate.

3. Customer responsibility

The customers should make themselves aware of all the Exchange Rules affecting any market on which they wish to place a bet. Customers should not simply rely on the Market Information as the Market Information is unlikely to contain all of the applicable rules relating to a market.

By their nature ‘Special Bets’ markets are unpredictable so should be treated with particular caution. Customers are responsible for managing their own positions at all times in such markets. Customers should pay particular attention to the Market Information on ‘Special Bets’ markets to ensure they understand the basis on which the market will be administered and settled.

4. Customer betting disputes & IBAS

Any customer who has any concerns or questions regarding the Exchange Rules or regarding the settlement of any market should contact.

If a customer is not satisfied with how a bet or a market has been settled then the customer should provide details of their grievance.

Part B – General rules

1. Managing markets In-Play

a) General

  • If a market is not scheduled to be turned in-play but fails to suspend the market at the relevant time, then:
    • if the event has a scheduled ‘off’ time, all bets matched after that scheduled off time will be void; and
    • if the event does not have a scheduled ‘off’ time, it will use its reasonable endeavours to ascertain the time of the actual ‘off’ and all bets after the time of the ‘off’ determined will be void.
  • It aims to use its reasonable endeavours to suspend in-play markets at the start of and at the end of the event. However, regardless of what it says in the Market Information, it does not guarantee that such markets will be suspended at the relevant time.
  • It will not part-suspend outcomes/selections in an Exchange market that has been turned in-play.
  • Customers are responsible for managing their in-play bets at all times.
  • For the purposes of in-play betting, customers should be aware that transmissions described as “live” by some broadcasters may be delayed or pre-recorded. The extent of any delay may vary depending on the set-up through which they are receiving pictures or data.

b) All markets other than soccer markets and Australian markets – not suspending at the time of the ‘off’

  • In relation to markets which are scheduled to be turned in-play, it aims to use its reasonable endeavours to turn such markets in-play at the time of the ‘off’. The time of the ‘off’ for such markets should be set out in the Market Information. However, regardless of what it says in the Market Information, it does not guarantee that such markets will be suspended and turned in-play at the time of the ‘off’.
  • If a market is scheduled to be turned in-play but does not suspend the market and cancel unmatched bets at the time of the ‘off’ and the market is not turned in-play with unmatched bets cancelled at any time during the event, all bets matched after the scheduled time of the ‘off’ will be void.
  • If the event does not have a scheduled ‘off’ time, it will use its reasonable endeavours to ascertain the time of the actual ‘off’ and all bets after the time of the ‘off’ determined will be void.
  • If a market is scheduled to be turned in-play but does not suspend the market at the time of the ‘off’ (so unmatched bets are not cancelled at that time), but the market is intentionally turned in-play at a later time during the event, all bets matched after the time of the ‘off’ will stand

c) Soccer markets (with the exception of Australian soccer markets) – not suspending at kick-off or on the occurrence of a Material Event

Not suspending at kick-off
  • In relation to soccer markets that are scheduled to be turned in-play, it aims to use its reasonable endeavours to turn such markets in-play at kick-off and to suspend such markets on the occurrence of a Material Event (see definition of “Material Event” below).
  • The relevant scheduled kick-off time should be set out in the Market Information. However, regardless of what it says in the Market Information, it does not guarantee that such markets will be suspended and turned in-play at kick-off.
  • If a market is scheduled to be turned in-play but not suspend the market at kick-off and the market is not turned in-play at any time during the match, all bets matched after the scheduled time of the kick-off will be void.
  • If a market is scheduled to be turned in-play but not suspend the market at kick-off (so unmatched bets are not cancelled at that time), but the market is turned in-play at a later time during the match, all bets matched after the scheduled time of the kick-off and before the first “Material Event” will stand. However, if there has been one or more “Material Events”, any bets matched between the first “Material Event” and the market being turned in-play will be void.
Not suspending on the occurrence of a Material Event
  • If it does not suspend a market on time for the occurrence of a Material Event, it reserves the right to void bets unfairly matched after the Material Event has occurred. Voiding of these bets may take place during the event or retrospectively once a game is completed.
Definition of “Material Event”
  • For the purpose of these Exchange Rules, a “Material Event” shall mean a goal being scored, a penalty being awarded or a player being sent off.

d) In-play Australian markets

  • Notwithstanding the other in-play rules described above, in relation specifically to any Australian market that is scheduled to be turned in-play, if it fails to suspend the market at the ‘off’ then all bets matched after the scheduled time of the ‘off’ and before the market is turned in-play will be void. If the event does not have a scheduled ‘off’ time, it will use its reasonable endeavours to ascertain the time of the actual ‘off’ and all bets after the time of the ‘off’ as determined will be void.

2. Results and market settlement

a) General

  • Markets will be settled as set out in the Market Information and/or the Specific Sports Rules.
  • Where the Market Information or Specific Sports Rules do not specify how and on what basis a market will be settled, markets will be settled on the official result of the relevant governing body regardless of any subsequent disqualification or amendment to the result (except if an amendment is announced within 24 hours of the initial settlement of the relevant market in order to correct an error in reporting the result).
  • If no official result of a relevant governing body is available, the result will be determined by using information from independent sources. In such cases, if any new information comes into the public domain within 48 hours of settlement, then it shall (acting reasonably) determine either: (i) whether the market should be reinstated or resettled in light of this new information; or (ii) whether or not to wait for further information before deciding whether to reinstate or resettle the market. Except it has announced that it is waiting for further information, any information that comes into the public domain more than 48 hours after a market has been settled shall not be considered (regardless of whether or not such information may have led to a different result).
  • In the event of any uncertainty about any result or potential result, it reserves the right to suspend settlement of any market for an unlimited period until the uncertainty can be resolved to reasonable satisfaction. It reserves the right to void any market if the uncertainty regarding settlement cannot be resolved to reasonable satisfaction.

b) Resettlements

  • Markets are generally settled shortly after the end of the event in question. It may settle (or part-settle) some markets before the official result is declared (or may increase a customer’s ‘available to bet’ balance by the minimum potential winnings of that customer on a given market) purely as a customer service benefit. However, it reserves the right to amend the settlement of the market if: (i) the official result is different to the result on which initially settled the market; or (ii) if the whole market is eventually voided (e.g. for an abandoned event).
  • It reserves the right to reverse the settlement of a market if a market is settled in error (for example, a human or technical error).
  • If resettles a market, this may lead to amendments being made to a customer’s balance to reflect changes in market settlement.

c) Non-runners, withdrawals and disqualifications

  • Subject always right to void bets under its terms and conditions or for any exception under the Exchange Rules, if a market contains a statement that says, “All bets stand, run or not” (or something similar) in the Market Information, then all bets on a team or competitor will stand regardless of whether or not the team or competitor starts the event or takes any part in the event.
  • Where the Market Information does not stipulate that all bets will stand regardless of participation, customers should refer to the relevant Specific Sports Rules.
  • If a team or competitor is disqualified, withdraws or forfeits after starting an event they will be deemed a loser providing at least one other team or competitor completes the event. If no team or competitor completes an event (having started) then all bets will be void except for bets on any markets which have been unconditionally determined.

d) Winner with [named selection]’ markets

  • It may from time to time offer markets that are dependent on the participation of a particular competitor. If the competitor named either in a ‘Winner with …’ market title or in the Market Information does not participate in the tournament or event then all bets on the market will be void. For example, if there was a “Winner with Federer” tennis market, all bets on the market would be void if Federer did not participate in the tournament. However, if any other competitor did not participate, then bets would stand.
  • A team or competitor will be deemed to have participated if they have taken part to the extent necessary to record an official result or classification (including any disqualification but excluding any “did not start” or equivalent classification).

3. Abandonments, Cancellations, Postponements

  • Some markets have different rules and these are listed in the Specific Sports Rules and/or the Market Information. However, where a market has no rules in the Specific Sports Rules or the Market Information in relation to an abandonment, cancellation and/or postponement the following shall apply.
  • In relation to any match, fixture, game, individual event, race or similar: If the event is not completed within three days after the scheduled completion date, then all bets on markets for this event will be void, except for bets on any markets that have been unconditionally determined.
  • In relation to any tournament, competition or similar: If the event is not completed within three days after the scheduled completion date, then any markets relating to the event will be settled in accordance with the official ruling of the relevant governing body, providing such a decision is given within 90 days after the scheduled completion date. If no official ruling is announced in this 90-day period, then bets on any market relating to this event will be void, except for bets on any markets which have been unconditionally determined. If a market is to be voided but has been part-settled as a courtesy to customers, then such part-settled bets will be reversed and all bets on the market will be void.
  • It will decide (acting reasonably) whether a market relates to a match (or similar) or a tournament (or similar). However, by way of example, the following shall apply: (i) Europa League outright = tournament; (ii) Champions’ League Group outright = tournament; (iii) Top Premiership goal scorer = tournament; (iv) Tennis Tournament outright = tournament;(v) 5-day Cricket Test Match = match; (vi) Ashes Series outright winner = tournament.

4. Change of venue

  • Some markets have different rules and these are listed in the Specific Sports Rules and/or the Market Information. However, if change of venue is not dealt with in the Specific Sports Rules and/or the Market Information then the following shall apply:
  • For any team sport: if the scheduled venue is changed after the market is loaded, all bets will be void only if the new venue is a home ground of the original away team
  • For all categories or markets other than team sports: if the scheduled venue is changed after the market is loaded, all bets will stand.
  • If there is a change in the type of scheduled surface after the market has been loaded, all bets will stand.

5. Periods of time

  • Some markets have different rules and these are listed in the Specific Sports Rules and/or the Market Information. However, if not dealt with in the Specific Sports Rules or the Market Information then the following shall apply.
  • If the scheduled duration of an event is changed after the market has been loaded but before the start of the event, then all bets will be void.
  • Some markets refer to the length of time until an occurrence in the event (e.g. time of first goal). If an event happens in stoppage or injury time after any regular time period then it will be deemed to have occurred at the end of the regular time period. For example, if a goal is scored in first half stoppage-time in a soccer match it will be deemed to have occurred in 45 minutes.
  • All bets apply to the relevant full ‘regular time’ period including stoppage time. Any extra-time and/or penalty shoot-out is not included.
  • References within these Rules and Regulations to a particular number of ‘days’ shall mean the end of the day local time after the expiry of the specified number of days. For example, if a soccer match is scheduled for the 1st of December, then the rule that allows the match to be completed within three days after the scheduled completion date (see Paragraph 3 above) would mean that the deadline for completion of that match would be 23.59:59 on the 4th of December.

6. Match bets

  • Some markets have different rules and these are listed in the Specific Sports Rules and/or the Market Information. However, if not dealt with in the Specific Sports Rules or the Market Information then the following shall apply.
  • ‘Match Bets’ for one-off events are determined by the competitor or team with the best score, time or finishing position in the event. If none of the competitors or teams involved in the match bet complete the event or register a score, time or finishing position then bets are void unless specified otherwise in the Specific Sports Rules and/or the Market Information. Any competitor or team not completing an event or registering a score, time or finishing position having taken part in the match bet event will be settled as a loser providing at least one other team or competitor completes that event or registers a score, time or finishing position.
  • ‘Match Bets’ for progress in a competition or event with multiple heats or rounds are determined by the competitor or team which qualifies to the furthest round (whether it takes part in the further round or not) or with the best score, time or finishing position in the final or same heat of that competition or event. If the relevant competitors or teams fail to qualify in the same round of the competition but in different heats then dead-heat rules will apply, irrespective of the finishing positions in their respective heats. Markets will be part-settled after the end of each round and any subsequent disqualifications, penalties or amendments to results or qualifications will not have any effect on the market. Where one or more of the competitors or teams are disqualified, for the purposes of settlement, the disqualified competitor or team will be deemed to have progressed further in the competition or event than all those eliminated from the competition or event prior to the disqualification, and will be deemed to have finished last (or joint last if there is more than one disqualification) of those still competing in the competition or event. Disqualification will be considered to have taken place at the time of the competitor’s or team’s removal from the competition or event by the relevant governing body, rather than at the time of the event which caused disqualification.
  • If one of the competitors or teams does not take any part in the event, then all relevant match bets will be void.
  • If an event or tournament is abandoned or reduced in duration such that any competitor or team fails to complete the match bet, event or tournament for any reason other than withdrawal or disqualification then all bets will be void except for those on markets which have been unconditionally determined.

7. “To qualify” markets

  • Some markets have different rules and these are listed in the Specific Sports Rules and/or the Market Information. However, if not dealt with in the Specific Sports Rules or the Market Information then the following shall apply.
  • Any ‘to qualify’ market (e.g. “to reach the final” markets) will be determined by the competitor or team that qualifies under the terms set out in Market Information, whether or not they take part in the next round or event for which they have qualified. Markets will be settled after the qualifying stage and any subsequent disqualification or amendment to the result will not count.

8. Dead heats

  • Unless stated otherwise in the Specific Sports Rules and/or the Market Information the Dead Heat Rule applies to bets on a market where there are more winners than expected (as set out in the Market Information).
  • For each bet matched on a relevant winning selection, the stake money is first reduced in proportion by multiplying it by the sum of the number of winners expected (as set out in the Market Information), divided by the number of actual winners (i.e. stake multiplied by (number of winners expected/number of actual winners)). The winnings are then paid to the successful backers on this ‘reduced stake’ (reduced stake multiplied by traded price) and the remaining stake money is paid to the appropriate layers.
  • For example, assume there is a dead heat for first place between three horses. ‘Client A’ has backed one of the winners for a stake of 300 at the traded price of 4.0 and ‘Client B’ has taken the other side of this bet. When the event is settled, the stake (300) is multiplied by 1/3 (i.e. the number of expected winners (1) divided by the number of actual winners (3)) to calculate the reduced stake (100) and the remainder given to the layer (200). The backer then receives the traded price matched (4.0) multiplied by the reduced stake (4 x 100 = 400). In this example, Client A’s net winnings are 100 (400 payout minus the original 300 stake), and Client B’s net losses are 100. Alternatively, this can be viewed as the full amount paid to the traded price divided by the number of dead-heaters. In the above example, this would be 300 at the traded price of 4.0 (1200) divided by 3; making 400 payouts and 100 net winnings.
  • By way of another example, assume there is an outright winner in a golf tournament but 7 players tie for 2nd place. In the “top 5 finish” market, after settling on the outright winner in the top 5 market there would be 4 others designated winner’s places available. ‘Client A’ has backed one of the winners for 300 at the traded price of 4.0 and ‘Client B’ has taken the other side of this bet. When the event is settled, the stake (300) is multiplied by 4/7 (i.e. the number of expected winners (4) divided by the number of actual winners (7)) to calculate the reduced stake (171.43) and the remainder given to the layer (128.57). The backer then receives the traded price matched (4.0) multiplied by the reduced stake (4 x 171.43 = 685.72). In this example, Client A’s net winnings are 385.72 (685.72 payout minus the original 300 stake), and Client B’s net losses are 385.72.
  • In relation to customers whose betting counterparty, for the purposes of this section of the Exchange Rules dealing with dead heats, the terms ‘Client A’, ‘Client B’ and ‘appropriate layers’ should, where relevant, be read

9. Exchange Multiples

The Exchange Rules only apply to Exchange Multiples.

  • Customers placing a multiple bet will be betting with each other will act as the counterparty to the bet.
  • A multiple bet consists of a number of legs. A leg is defined as one or more chosen selections in any individual event market.
  • It reserves the right in its sole discretion not to accept certain multiple bets or to scale back stakes in certain circumstances.
  • All multiple bets placed are subject to the Exchange Rules that apply to each individual sport that relates to any leg of any multiple bet.
  • The maximum payout limit for Exchange Multiples is £1,000,000.
  • Customers can place an Exchange Multiple bet using back, or where available lay or a mixture of back and lay selections. However, customers cannot have a combination of back and lay selections in any one leg.
  • If customers choose more than one selection in one leg the odds for this leg will be “dutched” which means they will be combined to reflect the chances of any of the selections within the leg winning (if backed) or all of the selections losing (if laid). If customers wish to place a cross-multiple bet (i.e. more than one selection in any event market but not using “dutched” prices) they will need to enter each Exchange Multiple bet separately.
  • Other than Exchange Multiples bets struck at Starting Price (“BSP”), the odds available via the Exchange Multiples product will be broadly based on the relevant singles markets on the Exchange and any such winning multiple bet will be subject to commission as set out in the Charges’ section of the website.
  • Any winnings from Exchange Multiples bets struck at BSP will not be subject to commission, but the odds returned on each leg in such a multiple will be subject to a 5% deduction from the BSP.
  • A BSP each way Exchange Multiple bet is a bet for selections in the multiple to win and a bet on the same selections to place. For example, a £2 each way double represents a £2 bet on both selections to win and a £2 bet on both selections to be placed, with a total stake for the bet of £4. The number of places for each event in each way multiples bet are shown on the multiples win Market Information and do not change. Should the number of runners be equal to or less than the number of places available, the relevant place leg of any multiples bet will be void
  • The minimum total stake for any Exchange Multiple bet is £2. For example, a 20p “Yankee” (11 bet combinations) representing a total stake of £2.20 is permitted. However, a 1p “Heinz” (57 bet combinations) representing a total stake of £0.57 or a £1 double (1 bet combination) representing a total stake of £1 will not be permitted. For customers betting in currencies other than English Sterling, the minimum total stake which applies to an Exchange Multiple bet will not necessarily be the equivalent of £2, though it will be calculated as described in the example above.
  • If, in its sole discretion, will determine the markets that are available for Exchange Multiples. Events available for Exchange Multiples will be those listed within any individual Exchange Multiple group (e.g. UK football fixtures for any given day). Not all markets will be available via the Exchange Multiples product.
  • With the exception of the rule directly below, if any selection in any leg is a non-runner or otherwise void under the Exchange Rules (e.g. an abandoned match) then all bets on that individual leg will be void and the Exchange Multiple bet shall be adjusted accordingly. For example, a treble including one void leg will become a double. This means that if customers have more than one selection in any leg (i.e. in cases of ‘ditching’) and one of those selections is a non-runner, the whole leg will be void. In the event that voided legs mean that an individual bet within a multiple becomes a single bet, then this single bet will stand.
  • Notwithstanding the rule directly above, for Exchange Multiples bets struck at BSP, if customers have more than one selection in any leg and one of those selections is a non-runner the leg will stand. 
  • It reserves the right not to accept certain combinations of Exchange Multiples, such as those including related contingencies (i.e. where the outcome of one event is likely to affect the odds on the outcome of another event). This may happen automatically at the bet placement stage. Alternatively, if such bet is taken in error, it may void the individual bet combinations which include two or more of the related contingency selections.
  • It may offer special markets on related events from time to time, including within its normal markets (i.e. outside of the Exchange Multiples product), for example a market on Chelsea to win the English domestic double (i.e. Premiership and FA Cup).
  • When placing any Exchange Multiple bet, the prices shown only give an indicative guide as to the price available for each leg and the overall multiple. Other than Exchange Multiples bets struck at BSP, the price of each leg and the overall multiple price that customers get will be fixed when the multiple bet is actually placed and customers will then be able to see these prices. For more details on this customer should refer to the ‘help’ files.

10. Rules for Starting Price

  • Starting Price (‘SP’) is available on the Exchange. Exchange SP bets (‘SP bets’) are therefore a type of Exchange bet. The SP is calculated as, by balancing all SP bets and other Exchange bets when the market is suspended at the ‘off’ of the relevant event. The details of this calculation are provided directly below.
  • Please note that for all customers, an SP bet cannot be cancelled once it has been placed.
  • A bet at SP is a fixed odd bet, with the odds on each selection being calculated and bets matched when the event starts. The odds are calculated by matching SP backers and other Exchange backers against SP layers and other Exchange layers. The inclusion of other Exchange bets in the SP reconciliation is necessary to ensure that: SP backers get the benefit of unmatched Exchange offers to lay if those offers could increase the SP; and SP layers get the benefit of unmatched Exchange offers to back if those offers could reduce the SP. Including unmatched other Exchange in the SP reconciliation also ensures that the bets of other Exchange backers and layers, which would otherwise lapse, are matched where possible.
  • The minimum liability for a bet placed at SP is £10 for a lay bet and £2 for a back bet (or the currency equivalent in each case).
  • Example 1: on selection A there is £1,000 of backers’ stakes and £6,000 of layers’ liabilities at SP and there are £500 of unmatched other Exchange back bets available to lay at an average of 5.0. If we ignored the Exchange market in this case the SP would be 7.0. However, this would leave other Exchange back bets that could also have been matched at their requested price against SP layers, unmatched. Therefore, the SP will be 5.0 and all SP backers and SP layers will be matched at that price. The £500 of Exchange backers’ stakes will also be matched at their requested price of 5.0 against the SP layers.
  • Example 2: on selection B there are £831 of backers’ stakes and £4,428 of layers’ liabilities at SP and the following unmatched other Exchange lay bets, available to back: £20 at 6.8, £31.13 at 6.6 and £100 at 6.4. In this case the SP will be 6.68. This is calculated by including the £20 available to back at 6.8 and the £31.13 available to back at 6.6 and balancing those amounts against the SP backers’ stakes and SP layers’ liabilities. The £100 available to back on the Exchange at 6.4 remains unmatched as to include any of this amount would lead to an imbalance between SP backers and SP layers.
  • The SP is calculated to six decimal places for each selection, though it may be displayed in the relevant market view (or in any form/results data) to two decimal places, rounded up or down as applicable. After reconciliation, the full SP on each selection is available by clicking on the relevant individual runner graph.
  • If for whatever reason the site is unavailable when an event starts or the SP cannot otherwise be reconciled at the ‘off’, it will determine the SP using all available information. For the avoidance of doubt this information will not be limited to betting activity on the relevant market(s). Also in these circumstances, a licensed betting operator within the group may act as risk counterparty to SP bets if necessary to ensure a fair SP. The personnel involved in determining the SP in such circumstances will have no undeclared personal or other interest in the SP in question.
  • If the SP reconciliation process is undertaken prematurely, then it will endeavor to reverse the reconciliation so that the SP is determined when the event starts. There may however be circumstances in which this is not possible, in which case the SP will be based on the initial reconciliation.
  • In cases where an SP reconciliation is reversed: SP bets (including SP limit bets), ‘At In-play: Take SP’ bets and ‘At In-play: Keep’ bets will all revert to their status before the reconciliation; and ‘At In-play: Cancel’ bets will either remain cancelled if not matched as part of the reconciliation process, or if matched as part of the reconciliation process, will revert to their unmatched status before the reconciliation.
  • If the SP reconciliation process is undertaken later than scheduled (i.e. after the event has started) and determines that a material event has occurred (this will generally mean that the event is not turned in-play), the SP will be determined based solely on SP bets (and ‘At In-play: Take SP’ bets which are unmatched when suspends the relevant market), placed before the ‘off’. This means that ‘At In-play: Take SP’ bets matched after the off, will be made void and not included in the reconciliation process. In addition, SP bets placed after the ‘off’ will be voided. However, if the SP reconciliation process is undertaken later than scheduled but determines that no material event has occurred, all bets will stand.
  • If a SP ‘each way’ option is offered this will be processed as two separate bets: a win bet at SP and a ‘to be placed’ bet at SP.
  • If for any reason unmatched bets are cancelled prior to a market going in-play, then any unmatched bets that have been selected to ‘At In-play: Take SP’ will be converted to SP bets. Once those bets are converted, they cannot be cancelled.

➢ Party against whom you are betting at SP

  • When you place a bet at SP you are betting against other customers. However, during the reconciliation of the SP, it acts as counterparty in order to balance liabilities between SP bets and other Exchange bets

➢ Placing a SP bet

  • Selecting the ‘SP’ button in the market view gives customers two different ways to request an SP bet. These are as follows:
  • The first way to request a bet at SP is by leaving the ‘Set SP odds limit’ box unticked at the top right of the bet manager. For a back bet you are required to enter the stake you wish to bet on the selection. For a lay bet, you are required to enter the liability you are prepared to risk against the selection – in other words the amount that you are prepared to lose, should the selection win (or be placed as applicable).
  • The second way to request a bet at SP is to select the ‘Set SP odds limit’ option. Using this you can request a bet at SP conditional upon minimum SP odds in the case of a back bet, or maximum SP odds in the case of a lay bet. If SP is shorter than the minimum price requested by a backer or is longer than the maximum price requested by a layer, then the relevant bet will lapse when the event starts. If SP is longer than the minimum price requested by a backer or is shorter than the maximum price requested by a layer, the bet will be matched at the SP. Where an SP is equal to the price limit specified by customers, those bets will be included based on the time they were submitted, on a first come, first served basis as is the existing convention for other Exchange bets. This means that such bets may be unmatched or partially matched.
  • Please note that if a non-runner cannot be removed from the relevant market until after the completion of the event, the application to all bets matched at or before the “off” (including SP bets) of any reduction factor, may mean that the matched price for an SP back bet with an odds limit requested, is adjusted to a price below the lower limit requested. It may also mean that an SP lay bet request with maximum odds requested, may not be matched even though the odds on the selection, after any post-race adjustment for the late non-runner, is below the maximum odds requested.
  • If an SP bet with an odds limit is requested, the minimum/maximum odds requested can be shortened in the case of a back bet or lengthened in the case of a lay bet at any time before the event starts. However, as mentioned above, an SP bet request cannot actually be cancelled by a customer once it has been placed. Details of the impact of non-runners on the SP are provided below.

➢ Exchange bets which are unmatched at the ‘off’

  • A normal Exchange bet is placed by choosing the odds of your selection from the market view (as opposed to clicking on the ‘SP’ of your selection). When such an Exchange bet is fully or partially unmatched it can be adjusted and cancelled in the normal course. Previously, unmatched bets were automatically cancelled when a market was suspended at the ‘off’ of the relevant event. You can now choose to either have your unmatched Exchange bet convert to an SP bet when the market suspends at the start of the event, or to have the bet ‘persist’ when the event goes in-play (see the ‘keep’ option below).
  • In order to convert your unmatched Exchange bet to an SP bet when the market suspends you should select the ‘At In-Play: Take SP’ option in the bet manager. If there is a non-runner in a win market with a reduction factor of at least 2.5%, or a non-runner in a place market with a reduction factor of at least 4%, it is policy to cancel unmatched lay bets on all other runners in the market. In the case of any such non-runner, instead of being cancelled a lay bet for which the ‘At In-Play: Take SP’ option has been selected, will automatically convert to an SP bet. After this conversion, the bet cannot be cancelled. Otherwise, unlike an SP bet, you can choose to cancel an Exchange bet once it has been placed, even if you have chosen for the bet to persist or to convert to an SP bet at the start of the event.
  • If you choose to convert an unmatched Exchange lay bet to an SP bet, the liability of your Exchange lay bet will be converted into a liability for the SP bet. Your liability for that SP bet will never be more than the liability for the Exchange bet you had specified. However, the amount you can win on the SP lay bet may differ from the amount you would have won had the Exchange bet been matched, depending on the final SP.

➢ Adjustments to SP bets for non-runners

  • SP back bets, will at no point amend either the stake or the odds requested by a customer, despite any non-runners or withdrawals. However, customers who have selected the SP limit option can reduce the minimum SP odds they are prepared to accept on a selection.
  • For SP lay bets on win markets, it will reduce a customer’s liability based on the reduction factor(s) of any non-runner(s) and the reduction factor of the runner on which the customer’s bet has been placed. This is to ensure that the balance between the backers’ stakes and the layers’ liability reflects the revised market after the runner has been removed. 
  • Where an SP lay bet in a win market has a maximum odds limit specified, this limit will be reduced by the reduction factor of any non-runner, if the non-runner has a reduction factor of at least 2.5%.
  • For SP lay bets on place markets, it will still reduce a customer’s liability based on the reduction factor(s) of any non-runner(s) but the calculation will be slightly different, in line with the application of place market reduction factors. The liability will be reduced by the reduction factor of the removed runner. Where the lay bet on a place market has a maximum odds limit specified, the potential winnings on the bet (i.e. the odds – 1) will be reduced by the reduction factor of the removed runner.
  • Where an SP lay bet in a place market has a maximum odds limit specified this limit will be reduced by the reduction factor of any non-runner.
  • SP lay bets will not be cancelled when there is a non-runner.

11. ‘Keep’ bets option

  • For markets that are scheduled to be turned in-play at the ‘off’, a customer can request that an unmatched Exchange bet should not be cancelled when the market is turned in-play. This is done by selecting the ‘At In-Play: Keep’ option in the bet manager (and confirming that request) and means that the unmatched bet persists when other unmatched bets are cancelled at the start of the event.
  • When there is a late withdrawal, may not have time to remove the non-runner from the market before turning it in-play. In such cases if can determine that the late withdrawal is a material runner (i.e. a selection with a reduction factor of approx. 20% or greater in the win market), it reserves the right to cancel ALL lay ‘keep’ bets (in both the win and ‘to be placed’ markets) before turning the market in-play. If it does not cancel lay ‘keep’ bets in the case of a late withdrawal any such bets placed before the off and matched in-play will remain at the original selected price. This means that those lay ‘keep’ bets will not be subject to any reduction factor which as a result of the late withdrawal, will be applied after the completion of the race to bets matched at or before the ‘off’.
  • Otherwise, in exceptional cases reserves the right to cancel ‘keep’ bets to protect customers but, unless stipulated in the market rules or the market information, the general principle is that at no point will a ‘keep’ bet be cancelled by unless it remains unmatched when the market is closed (for the final time) at the end of the event.
  • For the avoidance of doubt this means that (for example) when a Material Event occurs in a soccer match and other unmatched bets are cancelled before the market is reopened, a keep bet will not be cancelled.

12. Miscellaneous

  • All references to time periods in the Exchange Rules relate to the time zone in which the event takes place. For example, a reference to the start time of a football match, relates to the local kick-off time.
  • All information is done so in good faith. However, it cannot accept liability for any errors or omissions in respect of any information, such as the posting of prices, runners, times, scores, results or general statistics.
  • It reserves the right to correct any obvious errors and shall take all reasonable steps to ensure markets are administered with integrity and transparency.
  • If an incorrect team or competitor name is displayed (excluding minor spelling mistakes) or the incorrect number of teams, competitors or outcomes is displayed in any complete market or a market is otherwise loaded using incorrect information (for example the application of an incorrect exposure algorithm or a cross matching tool utilising an incorrect algorithm) or includes any obvious error such as the incorrect deployment of the cross matching tool, then It reserves the right to suspend the market and (providing it acts reasonably) to void all bets matched on the market.
  • Customers are responsible for ensuring that they satisfy themselves that the selection on which they place a bet is their intended selection. For example, in the case of a competitor bearing the same name as another individual not competing in the relevant event, the onus is on the customer to ensure that they know which competitor It has loaded into the relevant market and to ensure that they are placing their bet on their chosen competitor.
  • It reserves the right at any time in its sole and absolute discretion to suspend an Exchange market.
  • It may, in its sole and absolute discretion, decide to suspend betting on a market at any time (even if such suspension is earlier than anticipated by the Exchange Rules). In the interests of maintaining integrity and fairness in the markets, it may also void certain bets in a market or void a whole market in its entirety.
  • It reserves the right to amend the Exchange Rules at any time.
  • It reserves the right to cancel unmatched bets to protect customers at any time.
  • On the settlement of any market, amounts relating to
    • winnings/losses on bets; and
    • commission charges
  • will be rounded up or down to the nearest two decimal places (with the exception that rounding will always be down (and never up) in respect of amounts relating to winnings/losses in respect of BSP bets). By way of example, £3.333, will be settled as £3.33, whereas £3.335, will be settled as £3.34 (except that it will be settled as £3.33 in respect of an amount relating to winnings/losses in respect of BSP bets).
  • The Exchange Rules have been prepared in various languages other than English for reference only. In the event of any differences between the English version and the non-English version, the English version shall prevail.

Part C – Specific sports rules

1. Cricket

➢ General

  • If a ball is not bowled during a competition, series or match then all bets will be void except for those on any market that has been unconditionally determined (e.g. in the ‘Completed Match’ market).
  • If a match is shortened by weather, all bets will be settled according to the official result (including for limited overs matches, the result determined by the Duckworth Lewis method).
  • In the event of a match being decided by a bowl-off or toss of the coin, all bets will be void except for those on markets that have been unconditionally determined.

➢ Test matches

  • If a match starts but is later abandoned for any reason other than weather (which may include but is not limited to: dangerous or unplayable wicket or outfield; pitch vandalism; strike or boycott; crowd protests/violence; stadium damage; acts of terrorism; and acts of God), It reserves the right to void all bets, except for those on markets that have been unconditionally determined.
  • If the match is not scheduled to be completed within five days after the original scheduled completion date, then all bets on markets for this event will be void, except for bets on any markets that have been unconditionally determined.

➢ Limited Over matches

  • If a match is declared “No Result”, bets will be void on all markets for the event except for those markets which have been unconditionally determined or where the minimum number of overs have been bowled as laid out in the market specific information.
  • In the event of a new toss taking place on a scheduled reserve day for a limited over match all bets that were placed after 30 minutes before the original scheduled start of play on the first day will be made void. This rule relates to all markets except those that have been unconditionally determined (e.g. in the win the toss and toss combination markets).

➢ Super Over rule

  • Which team will win this Super Over? This market will be suspended on site and activated once the provider is aware a Super Over is to be played. The market will be turned in-play at the start of the Super Over. This market will not be actively managed therefore it is the responsibility of all customers to manage their positions. This market will be settled based on the number of runs scored by each team in the initial Super Over. For the avoidance of doubt, if scores are tied at the completion of both innings in the Super Over then the market will be settled as a Dead Heat except in cases where more than one Super Over is played, where it will be settled on the winner of the final over. Any tie breaker that may be used to determine a winner including but not limited to higher number of boundaries, higher number of sixes, losing fewer wickets, coin toss etc. do not count for the purposes of this market.

2. Soccer

  • If it does not suspend a market on time for the occurrence of a Material Event, it reserves the right to void bets unfairly matched after the Material Event has occurred. Voiding of these bets may take place during the event or retrospectively once a game is completed.
  • If a match has not started (or believes that a match will not have started) by 23:59 (local time) on its scheduled start date, then all bets will be void unless it has knowledge that the match has been rescheduled to be played within three days of its original start date.
  • If a match starts but is later abandoned or postponed and believes that the match will not have been completed by 23:59 (local time) on its scheduled start date, then all markets, with the exception of any unconditionally determined markets, will be void unless it has knowledge that the match has been rescheduled to be played within three days of its original start date. If it does have knowledge that the game will be played within three days and the game is played within three days, then all bets will stand except if the match is restarted from the beginning. If the match is restarted from the beginning then all bets matched before the market went in-play will stand, but any bets placed in-play will be void, except for any bets placed in-play on markets which have been unconditionally determined, which will stand.
  • For Friendly matches, all bets apply to the full duration of play according to the match officials, plus any stoppage time. If a friendly match starts but is later abandoned or postponed and is not completed (i.e. the full duration of play according to match officials, plus any stoppage time) within three days of the scheduled start date, all bets will be void except for those on markets which have been unconditionally determined. In the case of ambiguity over the official result from match officials, the outcome will be determined (acting reasonably) using information from independent sources.
  • If an official fixture lists different team details to those listed (for example, the team name, reserves, age group, gender, etc.), then all bets matched on the affected markets will be void. In all other cases, bets will stand (including instances where a team name is listed without specifying the term ‘XI’ in the name). If an official fixture is shown on the website under an incorrect competition name, then it reserves the right to void all bets matched on the affected markets.
  • If a team is relegated from a league because, at the end of a season, it has finished within the relegation positions which are relevant to that league (i.e. usually any of the bottom three league positions), bets on that team to be relegated will be settled as winning bets. If a team is otherwise disqualified, thrown out or removed from a league (i.e. in circumstances other than those where it has finished the season within the relevant relegation positions): (i) if such team is disqualified, thrown out or removed from the league before the relevant season has started, all bets on the affected market will be void (and a new market will subsequently be loaded) and (ii) if such team is disqualified, thrown out or removed from the league after the relevant season has started (or a determination is made by the applicable governing body, during the season, that the team will be thrown out or removed from the league following the season’s conclusion), all bets on the affected team will be void. For the avoidance of doubt, if a points deduction is imposed on a team such that it finishes the season within the relegation places which are relevant to the applicable league, bets on that team to be relegated will be settled as winning bets.
  • The relevant season will be deemed to have started once the first league game has been played. For the purposes of this rule, markets relating to individual matches will not be deemed to be “affected markets”.
  • ‘Shirt numbers’ bets will refer to the shirt number allocated at the start of the match. ‘Shirt numbers’ bets will include own-goal scorers. Any player whose shirt bears no number will be allocated the number 12.
  • For ‘time of first goal’ bets (i.e. “First Goal Odds” markets), the first half is deemed to last 45 minutes, regardless of stoppage time. Also for these markets, please note that the “0 – 10 Minutes” selection covers the first 10 minutes of the match. In other words, it runs from 0:00 until just before the clock hits 10:00. The “11 – 20 Minutes” selection runs from 10:00 until just before the clock hits 20:00. The same principle applies to each of the other selections in this market.
  • For ‘top goalscorer’ markets only the goals scored in the league or competition stated in the Market Information count. For example, if a player joins a club mid-season any goals scored in a different league will not count, however goals scored for a different club in the same league will count. Own goals will not count.
  • In markets which relate to the number of incidents to occur, such as ‘number of corners’, these will be determined on the basis of the number taken, rather than awarded.
  • For markets that relate to the number of bookings given, the number of corners taken, any goal scorer or the time of a particular goal, the result will be determined (acting reasonably) using information from independent sources. In such cases, if any new information comes into the public domain within 48 hours of settlement, then it shall (acting reasonably) determine either: (i) whether the market should be reinstated or resettled in light of this new information; or (ii) to wait for further information before deciding whether to reinstate or resettle the market. Except it has announced that it is waiting for further information, any information that comes into the public domain more than 48 hours after a market has been settled shall not be considered (regardless of whether or not such information may have led to a different result).

3. Tennis

  • If a player or pairing retires or is disqualified in any match, the player or pairing progressing to the next round (or winning the tournament in the case of a final) will be deemed the winner. However, if less than one set has been completed at the time of the retirement or disqualification then all bets relating to that individual match will be void.
  • All bets relating to the number of occurrences of certain events within a tournament will be void if the tournament is reduced in length, postponed or cancelled, except for those on markets which have been unconditionally determined.
  • All bets will stand regardless of changes to scheduled venues, including any changes to a different type of surface.
  • If the scheduled duration of a match is reduced or increased in the number of games/sets required to win, all bets will be void except for those on markets which have been unconditionally determined. Please note that this does not apply to ‘Match Odds’ or ‘Set Winner’ markets on Davis Cup matches or ‘dead rubber’ matches that have been shortened from five sets to three sets after the market has been loaded, provided that the match has been shortened in accordance with the competition’s rules.
  • Where markets are offered on individual games or sets within a match, a retirement or disqualification during a game or set will render bets on that game or set market and all individual game or set markets void except those on markets which have been unconditionally determined.