- Exchange General Rules
- Specific Sports Rules
Exchange General Rules
A bet is not valid until you have received confirmation that your bet has been matched or partially matched, and you can see the bet in the My Exchange Bets section of the Exchange with a Bet ID. In cases of uncertainty about the validity of a bet, you are requested to check your current matched and unmatched bets or contact Support.
Once accepted, matched and partially matched bets will remain valid and cannot be cancelled. It is the responsibility of the player to ensure details of the bets placed are correct.
Under no circumstance will we void bets upon a customer request for any reason, such as but not limited to customers posting offers at unintended odds/stakes or placing offers on the opposite side of the market as intended.
Should a dispute arise about the acceptance (or lack thereof) of any transaction in the player’s account, the transaction log database will be the ultimate authority in deciding such matters.
Cancellation of an Offer of a Bet
You may cancel unmatched bets at any time by requesting a cancellation of the relevant offer in the relevant section of the relevant market on our site.
Your cancellation of an unmatched bet becomes effective once we confirm the cancellation. In the event that your cancellation request is not received and processed in good time, you acknowledge that your offer may remain outstanding and available for acceptance.
You may not be able to cancel your offer if your bet has been partially or wholly accepted during the interval between your submitting your cancellation request and our confirming your cancellation. In this case, your original offer, or part thereof, will be validly accepted, and the bet will be concluded.
When you amend an unmatched bet, you are effectively cancelling that bet and submitting a new bet at the amended stake or odds.
We will cancel any offers of bets that remain outstanding at the time that we close a market.
Minimum and Maximum Bet Stakes and Odds
The minimum bet on the exchange is 50 to 100 pesos/US/€. The maximum bet will vary depending on the odds and liquidity of any given market. The minimum payout is 1.01 and the maximum payout is 1000.
Results and Market Settlement
Markets will be settled as set out in the Market Information and/or the Specific Sports Rules.
If the Market Information or Specific Sports Rules do not specify how and on what basis a market will be settled, markets will be settled based 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, we will determine the result (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 we will (acting reasonably) determine either:
- Whether the market should be reinstated or resettled in light of this new information; or
- whether or not to wait for further information before deciding whether to reinstate or resettle the market. Except where we have announced that we are 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, we reserve the right to suspend settlement of any market for an unlimited period until the uncertainty can be resolved to our reasonable satisfaction. We reserve the right to void any market if the uncertainty regarding settlement cannot be resolved to our reasonable satisfaction.
Markets are generally settled shortly after the end of the event in question. We may settle (or part-settle) some bets before the official result is declared (or may increase a customer’s available balance by the minimum potential winnings of that customer on a given market) purely as a customer service benefit. However, we reserve the right to amend the settlement of the market if:
- the official result is different to the result on which we initially settled the market; or
- if the whole market is eventually voided.
We reserve the right to reverse the settlement of a market if it was settled in error (for example, a human or technical error).
If we resettle a market, this may lead to amendments being made to a customer’s balance to reflect changes in market settlement.
Non-runners, Withdrawals and Disqualifications
If the Market Information contains a statement that says ‘all in compete or not’ (or something similar), 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.
If 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), bets will be void except for bets on any markets which have been unconditionally determined.
‘Winner With [Named Selection]’ Markets
We 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 is a Winner with Djokovic tennis market, all bets on the market would be void if Djokovic 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).
Abandonments, Cancellations, Postponements
Some markets have different rules, and these are listed in the Specific Sports Rules and/or the Market Information. However, if 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 originally 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 originally 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 void 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.
We 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 will apply:
- Europa League Outright = tournament;
- Champions League Group Outright = tournament;
- Top Premier League Goalscorer = tournament;
- 72-hole Golf Match Bet = match;
- Ryder Cup Outright = tournament;
- Golf Tournament Outright = tournament;
- Tennis Tournament Outright = tournament;
- Cricket Test Match = match;
- Ashes Series Outright Winner = tournament;
- Motor Race (for example, Grand Prix) = match.
Change of Venue
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 (for example, a hockey match switching from grass to astro-turf) after the market has been loaded, all bets will stand.
Periods of Time
Some markets refer to the length of time until an occurrence in the event (for example, time of first goal). If an occurrence 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 football match, it will be deemed to have occurred on 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 the Exchange Rules 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 football match is originally scheduled for December 1, then the rule that allows the match to be completed within three days after the originally scheduled completion date would mean that the deadline for completion of that match would be 23:59:59 on December 4.
Managing Markets In-Play
In the Market Information, we may state that the relevant market will not be ‘actively managed’. Where this is applicable, we will endeavour to suspend In-Play markets at the start of and at the end of the event, however, we cannot guarantee that such markets will be suspended at the relevant time.
We will not part-suspend outcomes/selections in an Exchange market that has been turned In-Play (although we may do so in Sportsbook markets).
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 actually be delayed or pre-recorded. The extent of any delay may vary depending on the setup through which they are receiving pictures or data.
Markets Not Scheduled to be Turned In-Play (All Sports Except Horse Racing and Greyhound Racing)
For everything other than horse racing and greyhound racing, if a market is not scheduled to be turned In-Play, but we fail 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, we will endeavour to ascertain the time of the actual ‘off’, and all bets after the time of the ‘off’ determined by us will be void.
Markets Not Scheduled to be Turned In-Play (Horse Racing and Greyhound Racing)
For horse racing and greyhound racing, if a market is not scheduled to be turned In-Play, but we fail to suspend the market at the relevant time, then all bets matched after the official ‘off’ time will be void.
Markets Scheduled to be Turned In-Play
In relation to markets that are scheduled to be turned In-Play, we will endeavour 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, we do not guarantee that such markets will be suspended and turned In-Play at the time of the ‘off’.
Markets Scheduled to be Turned In-Play (All Sports Except Horse Racing and Greyhound Racing)
If a market is scheduled to be turned In-Play but at the time of the ‘off’, we either (i) intentionally turn such market In-Play or (ii) suspend the market and cancel unmatched bets, all bets matched after the time of the ‘off’ (and before the market is intentionally turned In-Play if scheduled to go In-Play) will be void. We will endeavour to ascertain the time of the actual ‘off’ (or will otherwise rely on the scheduled ‘off time’), and all bets after the time of the ‘off’ as determined by us will be void. If the event is still ongoing, we will endeavour to re-open the market for In-Play betting.
Markets Scheduled to be Turned In-Play (Horse Racing and Greyhound Racing)
If a market is scheduled to be turned In-Play, but we do not, at the official time of the ‘off’, either (i) turn such market In-Play or (ii) suspend the market and cancel unmatched bets, all bets matched after the official time of the ‘off’ will be void.
If a market is scheduled to be turned In-Play, but we do 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 official time of the ‘off’ will stand, except for Australian Horse Racing, where all bets matched after the ‘off’ but before the point in time that we turn the market In-Play, will be void.
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. When such an Exchange bet is fully or partially unmatched, it can be adjusted and cancelled in the normal course. You can choose to have the bet ‘persist’ when the event goes In-Play (see the ‘keep’ option below).
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%, unmatched lay bets on all other runners in the market will be void. Otherwise, you can choose to cancel an Exchange bet once it has been placed, even if you have chosen for the bet to persist at the start of the event.
‘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.
As described above, if a non-runner is removed from a market (apart from late withdrawals as described below), it is our policy to cancel unmatched offers to lay all other runners in the market if the non-runner has a reduction factor of 2.5% or greater for win markets, or 4% or greater for place markets. In these circumstances, offers to lay a runner with the ‘At In-Play: Keep’ option selected will not be cancelled. Instead, the lay odds offered in place markets will be reduced in proportion with the reduction factors of any non-runner(s), and the same will apply in win markets providing the relevant non-runner has a reduction factor of at least 2.5%.
If there is a late withdrawal, we may not have time to remove the non-runner from the market before turning it In-Play. In such cases, if we are able to 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), we reserve the right to cancel all lay ‘keep’ bets (in both the Win and To Be Placed markets) before turning the market In-Play. If we do not cancel lay ‘keep’ bets in the case of a late withdrawal (for example, it may not be possible to know which runner is withdrawn at the time of the ‘off’), 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 event to bets matched at or before the ‘off’.
Otherwise, in exceptional cases, we reserve the right to cancel ‘keep’ bets to protect customers but, unless stipulated in the Market Information, the general principle is that at no point will a ‘keep’ bet be cancelled 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, if a Material Event occurs in a football match and other unmatched bets are cancelled before the market is reopened, a ‘keep’ bet will not be cancelled.
Match Bets for one-off events are determined by the team or competitor with the best score, time or finishing position in the event. If none of the teams or competitors involved in the Match Bet complete the event or register a score, time or finishing position, bets will be void unless otherwise stated in the Specific Sports Rules and/or the Market Information. Any team or competitor 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 team or competitor which qualifies to the furthest round (whether they take 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 teams or competitors fail to qualify in the same round of the competition, but in different heats, dead heat rules will apply irrespective of the finishing positions in their respective heats. Bets 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. If one or more of the teams or competitors are disqualified, for the purposes of settlement, the disqualified team or competitor 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 the disqualification.
If one of the teams or competitors 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 team or competitor fails to complete the event or tournament for any reason other than withdrawal or disqualification, bets will be void except for those which have been unconditionally determined.
To Qualify Markets
To Qualify markets (for example, To Reach The Final) will be determined by the team or competitor that qualifies under the terms set out in the Market Information, whether or not they take part in the next round or event for which they have qualified. Bets will be settled after the qualifying stage, and any subsequent disqualification or amendment to the result will not count.
Unless otherwise stated in the Specific Sports Rules or the Market Information, dead heat rules will apply to bets on a market where there are more winners than expected.
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 an outright winner in a golf tournament, but seven 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 four other designated winners 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 relation to customers whose betting counterparty is Betfair, 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 as ‘Betfair’.
Cash Out is a feature that is offered on various betting markets on the Exchange. Cash Out is an easy way to lock in a profit or cut your losses without having to wait for the event to finish. If you decide to Cash Out, we will automatically place further bets on the market to lock in your position.
Customers should be aware that if a selection is removed from a market, this may impact Cash Outs that were implemented prior to the removal of the selection, and customers may receive a lesser amount than was displayed on the Cash Out button.
If you make a Cash Out request, you will be notified whether or not your request has been successful. Your request to Cash Out is not guaranteed to be accepted and may be unsuccessful if, for example, the market suspends or the odds move before your request has been processed.
If your Cash Out request is successful, a ‘success’ message will be shown, and your bets (or the relevant portion of your bets) will be settled at the time on which all other bets on the same market are settled (at which time any winnings will be returned to your account).
Any attempted Cash Out will be reversed (and your stake returned to you) where: (i) you Cash Out of a bet in respect of which the market is later voided (for example, due to abandonment of the applicable event) or (ii) you Cash Out of a bet which was placed on a Draw No Bet (or similar) basis and the relevant event subsequently ends in a draw.
If your Cash Out request is unsuccessful, a message will be shown which gives the reason why and a new Cash Out offer may be offered to you.
Cash Out requests made In-Play may take longer to process because of the In-Play bet delay.
Cash Out may not be available at times where there is low liquidity in a market.
Cash Out is not currently available on all Exchange markets; a Cash Out icon will be displayed for the markets that support Cash Out.
Cash Out on the Exchange applies on a ‘per-market’ rather than a ‘per-bet’ basis. Accordingly, if you have placed two separate bets on the same outcome, you may Cash Out of both bets or neither bet (i.e. you will not be able to Cash Out of one of the bets only).
We reserve the right to reverse the settlement of a Cash Out if the bet or a market is settled in error (for example, due to a human or technical error) or if the bet or a market is subsequently declared void. If we resettle a bet, this may lead to amendments being made to a customer’s balance to reflect changes in bet settlement.
We reserve the right to suspend or disable the Cash Out feature at any time.
Please be aware that if you place a bet with the intention of subsequently using the Cash Out function, there can never be a guarantee that Cash Out will be available at the point you wish to place the subsequent bet (this is the case regardless of whether or not the unavailability of the Cash Out service is due to a matter beyond our reasonable control).