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Welcome to 1st Casino Portal - Online Casino Rated And Reviewed!
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Betting On Sports
Sport Betting
The members of the Spread Betting Association ('SBA')
have agreed that the settlement of sports spread betting markets
should be governed by the following conditions, save where the rules relating to
a particular market or type of market provide otherwise.
Where there is a conflict between the following conditions
and a particular rule, the rule prevails.
Event Not Taking Place or on Which There is No Play Following Placing of Bet
Any bet, open or closed, which is
(i) on an event which does not take place; or
(ii) on an event which has begun but in which there is no further activity
after the bet is placed, shall be void.
Abandonment
Where a market is traded in-running or at intervals
(e.g. a football team performance index updated at half-time)
and the underlying event is abandoned, then,
if there is a tradeable quote on the market when play ceases,
the market will be settled at the midpoint of the quote.
Where there is no tradeable quote at the time when play ceases,
any bet on the market, open or closed, shall be void.
Markets traded in-running where the result is known at the time
of abandonment will be settled on the basis of that result.
If markets are not traded in-running then, in the case of abandonment,
all bets will be void irrespective of whether the markets have made up or not.
Where play ceases at the start of an interval (e.g. half-time) in which a market is to be updated,
and the market is then updated, the first tradeable quote following the cessation
of play is to be treated as the tradeable quote on the market when play ceases
for the purposes of this condition.
It should be noted that the effect of abandonment of horse and greyhound race meetings
is covered by rules specific to those sports.
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Postponement
Where an event which is scheduled to be completed within one day is not completed
within three days of the day on which it was scheduled to be completed,
all bets on that event which have not yet made up,
whether open or closed, shall be void,
unless the market is being traded in-running or at intervals,
in which case the market will be settled at the midpoint of the first updated quote following
the last action to take place in the event during that three-day period.
All bets placed after the last completed action in the event will be void,
whether open or closed.
Where an event which is scheduled to be completed over a period of two or more days
is not completed within three months of the day on which it was scheduled to be completed,
all bets on that event which have not yet made up, whether open or closed, shall be void,
unless the market is being traded in-running or at intervals,
in which case the market will be settled at the midpoint of the first updated quote
following the last action to take place in the event during that three month period.
All bets placed after the last completed action in the event will be void, whether open or closed.
For the avoidance of doubt, where an event is completed on the day scheduled for completion,
but at a later time than scheduled, that does not affect the settlement of any bet on that event.
Where an event such as a one-day cricket match is scheduled to be completed within one day,
the fact that arrangements might be made in advance for the match
to be completed on some other day in the event
of rain or some other contingency does not alter the fact that the event
is to be treated as being scheduled to be completed within one day.
Non-Participation
Any bet, whether open or closed, shall be void where:
(i) the bet is placed on a participant who takes no part in the subject event; or
(ii) the bet is placed on a participant who takes no further part in the subject event after
the bet is placed, unless it is possible for the make-up
of that player to be affected by the performance of other participants who
do take further part in the event after the bet is placed.
Where a bet is placed on a participant who proceeds to the next stage
of an event by virtue of a walkover,
that bet will be rebooked at the next tradeable price reflecting his progress to that next stage.
Where a named participant in an index is withdrawn prior to the commencement of the event,
bets on other participants in that event will be governed by the spread betting version
of Tattersalls' Rule 4 (see Horse Racing rule (h)),
which deals with deductions in the event of non-runners, unless otherwise stated.
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Bets are Placed on Future Events
Any bet placed when the price is based on an inaccurate "score so far"
may be re-rated so that it operates as a bet on the future.
This means that, for instance, where a market is made in football bookings at 24 - 27
on the basis of no bookings at that stage,
and where there has in fact been one booking scoring 10 points,
any trade at that price is adjusted so that it becomes a trade at 34 - 37.
This re-rating will always reflect the real impact of amending an inaccurate "score so far".
The above provision is subject to IG Index's overriding discretion
to void any bet made on the basis of incorrect information.
All bets should be bets on future events whose outcome is yet to be determined.
If for whatever reason a bet is placed on an event whose outcome
is capable of being known at the time at which the bet is being placed,
the bet can be voided at the overriding discretion of IG Index
(whether the outcome is in fact known to the client or not).
IG Index also reserves the absolute right to void any bet placed on a market
on an event after that event has begun, unless IG Index
is quoting prices on that particular market in-running,
or the bet is placed during an interval in which the prices have been updated.
The Result
The official result is final for settlement purposes except where specific rules state
the contrary. The official result will be determined by the reasonable opinion of IG Index,
such opinion being formed by reference to all publicly available evidence.
The podium position in Grand Prix racing and the medal ceremony in athletics
and any similar official ceremony or presentation in other sports
are to be treated as the official result.
Where in the reasonable judgement of IG Index no official result is available,
the result will be:
(i) determined by an independent authority whose verdict shall be final for all purposes, or
(ii) otherwise determined by the reasonable opinion of IG Index,
such opinion to be formed by reference to all available evidence.
Bets will provisionally be settled by reference to all available evidence,
but if the result which is determined as set out above differs from the result
used for provisional settlement, settlement may be retrospectively adjusted
so as to reflect the result so determined.
Final settlement of bets will occur as follows:
(i) bets on markets scheduled to be completed within one day will
be finally settled within three days of the day on which the underlying event
is completed, and there will be no adjustment to the make-up of any such market after that period.
(ii) bets on markets scheduled to be completed over a period of two
or more days will be finally settled as soon as is practicable after
the underlying event is completed. There will be no adjustment to the make-up
of any such market after the final settlement.
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