Market Rules - BETMATCH

Betmatch “Market Rules” govern the administration and treatment of all trading activity in Betmatch markets, and should be read in conjunction with our “Terms & Conditions” and “Rules for Individual Sports”.

These Rules are subject to change at any time. We reserve the right to amend, modify, or update these Rules at our sole discretion. Your continued participation in any promotion or use of the platform following the posting of changes constitutes your acceptance of such revised Rules.

1. Preparing to Trade on the Exchange

Clients may trade on the exchange using only cleared funds. No credit arrangements or advances against in-transit funds are available.
By placing a trade, you warrant that you have read and understood the Terms and Conditions, Market Rules, and Individual Sport Rules. It is your sole responsibility to understand the specific rules of a market before engagement; Betmatch assumes no liability for losses resulting from a lack of familiarity with these rules.

2. Offer Submission and Management and Error Handling

Clients are responsible for managing all their open offers. Betmatch does not undertake to manage clients’ open positions.
Clients may cancel open offers at any time. Clients are reminded that not all of their original offer may remain available for cancellation; some or all may have already been taken by another client. When submitting an offer in a live betting market, this offer may be subject to a time delay, before entering the market – clients cannot cancel offers during the period of a time delay on a live market until the time delay has expired and the offer has entered the market.
All open offers are automatically cancelled by Betmatch at the start of an event. Should a market remain open for trading past the start of the event due to, for example, an erroneously listed starting time, all trades made after the event’s actual starting time will be voided. Similarly, if a live event remains open after its end time all trades made after the published end time will be voided.
Clients are reminded that starting times posted on the site are estimates, as provided to us through publicly available sources. Events often start several minutes later than the official time; and where possible (due to TV coverage, for example), we will attempt to keep markets open until the event’s actual starting time.
Betmatch reserves the right to void any trades where fraudulent, market-manipulative or other prohibited activity is involved.
Betmatch reserves the right to void trades in the unlikely event of a system failure on Betmatch’s side that prevents clients from managing their open offers.
Betmatch further reserves the right to suspend trading on any market and to cancel any existing offers, if necessary.
While we aim for accuracy of market information, Betmatch does not accept any liability for errors displayed on Betmatch.co.za. Betmatch also reserves the right to correct any such errors without notice if they arise.
Betmatch assumes no liability for any errors, omissions, or inaccuracies in offers posted by customers. Each customer irrevocably acknowledges and agrees to be bound by the Betmatch Terms, Conditions and Rules that govern the markets they trade in.
Excluding minor typographical errors, Betmatch reserves the right to void all trades where a manifest error is present. This includes, but is not limited to, incorrectly listed selections, an incorrect number of outcomes, or a clear and obvious error in the pricing or description of the event.
In the rare case that a market is loaded on the exchange using a point spread or handicap value with a reversed sign or missing digit, Betmatch reserves the right to void the market and refund all trades. For example, if the prevailing market for Chicago vs. Washington is Chicago +9.0 and the Betmatch market is accidentally loaded at Chicago -9.0, Betmatch would void trades placed on this market. The purpose would be to protect players who wagered on the market assuming that the point spread was Chicago +9.0.
To further protect clients against “trap offers,” malicious users, technical faults, and so forth, Betmatch reserves the right under extraordinary circumstances to break trades that are the result of an obvious and extreme input error. An example would be if a client is matched on a heavy underdog at 1.04 instead of 26.0. Note that this rule protects against technical errors, not pricing errors, so while a matched bet at odds of 1.66 vs. a prevailing market value of 1.87 may be regrettable, it could not be classed as an obvious and extreme input error.
Betmatch reserves the right to correct any obvious errors and shall take all reasonable steps to ensure markets are administered with integrity and transparency. Betmatch reserves the right to cancel ‘bad trades’ in order to protect users against gross input errors if Betmatch deems the error to be sufficiently damaging. All ‘bad trade’ claims need to be made by contacting customer support within 10 days of the trade in order to be considered. Betmatch’s ruling on ‘bad trade’ claims is final.
For consistency, Betmatch, using all available resources, will determine the fair market value (probability) at the time the bet was matched. Comparing against this value, if the probability of the incorrect offer, is considered to be outside the fair market probability, then Betmatch reserves the right to void the trade in question.

3. Order Matching and Fills

All client offers are routed to the Betmatch exchange on a time-priority basis and are matched using the following priority:

Odds (“odds submitted or better”)
Time submitted (“first in, first matched”).
During live markets, your offer will not be submitted until the time delay has expired. Please see rules under the heading Live Betting Market Administration.

The exchange will always fill your order at the best available odds, if better odds than you requested are available.
If an offer is only partially matched, the unmatched portion will be immediately displayed and the client given the chance to cancel it immediately. If not cancelled, the unmatched portion will appear in the “Unmatched Bets” panel where it can be further managed by the client.
Rounding of bet stakes takes place at the fourth decimal point. All stakes are rounded down, and any remaining increments are assigned to a common pool and netted against client processing costs.
All trades take place between anonymous parties; clients are not to attempt to disclose or signal their identities to one another.

4. Live Betting Market Administration

In the event of technical difficulties, including issues with or changes to the data feeds used to manage an event, Betmatch reserves the right to suspend a live market until such time as these issues can be resolved, or to decide against offering live betting on the market. In these circumstances, Betmatch accepts no liability for a customer’s inability to trade positions.
Betmatch will make reasonable best effort to, but cannot guarantee, that live betting markets go “live” at the actual or published start time of the sporting event and are suspended at the conclusion.
If, for whatever reason, a market does not go “live” at the actual or published start time, and never goes “live”, Betmatch reserves the right to cancel all bets matched during the event.
If, for whatever reason, a market does not go “live” at the actual or published start time, and subsequently goes “live” during the event, Betmatch reserves the right to cancel all bets matched between the start of the event and the time it went “live”. In this case, Betmatch will use it’s discretion to determine whether a material change in odds has occurred before determining whether to cancel bets or not.
Betmatch Customers should be aware that sporting event broadcasts advertised as “live” may be subject to a time delay. Time delays on sporting event broadcasts differ between individual broadcasters.
All offers placed at odds that would match an open offer in a live betting market will be subject to a time delay. The extent of this delay will vary based on sport, market and broadcast coverage of the event.
All offers placed at odds that would not match an offer in a live betting market will not be subject to a time delay.
Live betting markets may be subject to sport and/or market specific rules defined under the heading of the relevant sport.
Betmatch’s Risk & Compliance team monitors live betting activity. In the event of any suspicion around live betting activities, where we suspect that a client may have access to pictures or data feeds that allow them an unfair advantage over other Clients of the exchange, Betmatch reserves the right to suspend and review that client account, and ultimately, if necessary, terminate their membership of the exchange.

5. Dead Heat Settlements

In certain markets where no tie-breaking rules exist (e.g., golf place markets or horse races), Dead Heat settlements may be employed. A Dead Heat settlement is calculated as follows, where “gross return” is equal to the stake plus profit:

For “back” and “lay” bets (decimal odds):
[(Stake / No of tied runners) x (Odds – 1)] – [Stake x (No of tied runners – 1) / No of tied runners] = your profit/loss
Note: For “lay” bets, the ‘Stake’ in formula is the ‘Backers Stake’.
For place markets:
[(Stake x No of payouts / No of tied runners) x (Odds – 1)] – [Stake x (No of tied runners – No of payouts) / No of tied runners] = your profit/loss

6. Event Scheduling, Grading and Settlement

Events are settled based on reported results as provided by our designated information providers.
Markets on events postponed for more than 24 hours(see Sports Rules for relevant timelines) or reassigned to another venue, will be cancelled and all client funds returned.
Official results for events overturned due to subsequent protest, appeal or other judgement stand as originally reported.
Unless otherwise stated, all markets for an event are generally graded together at the time the event is completed, rather than at the time a result is available. (Example: midway through the 4th quarter, a basketball game goes over the total, but the side and moneyline markets remain uncertain. All markets await the final game result before grading.)
All bets on abandoned or postponed events will be void if the event has not been concluded within 72 hours of the scheduled start date. Unconditionally determined markets are excluded.
Where a tournament or competition is not concluded within seven days of its original published completion date, markets will be settled on the results provided by the sport/tournament/competition official governing body. These results must be published within 30 days of the originally scheduled completion date.
Where a sporting event has a specific number of days stipulated for its completion, the cut-off time is 23:59:59 in the local time zone for that sporting event.
Ante-post bets are accepted on the basis that they will stand regardless of whether the horse or selection takes part in the event.
Once matched, stakes placed on an ante-post bet are lost if the selection does not participate.
This means that if your selection does not run or play in the event, your bet will still stand and be settled as a loser. This applies even if the selection was not officially entered, provided there was a realistic possibility it could have been entered at a later stage. Bets placed before the closure of entries will remain valid under ante-post rules.
At our discretion, Betmatch may choose to settle or partially settle a selection or market in advance of the official outcome. In this situation, Betmatch reserves the right to later reverse this advance settlement to apply the official result and/or void bets if necessary.
All bets stand in venue change situations unless the originally listed away team is now at their home ground.
Bets will be void where the venue’s playing surface differs from what was originally published for that sporting event.
All bets on an event will be void where the events published duration changes before the events starts.
In the absence of a specific rule covering a particular wager or market, Betmatch will apply its discretion in a manner consistent with South African gambling legislation and the rules of the relevant Provincial Licensing Authority.

7. Commissions and Processing Costs for Deposits/Withdrawals

Betmatch’s standard commission rate will be applied to the net profits on a market.
Betmatch incurs processing costs on most forms of deposit activity, including Neteller and debit cards. Current rates (our cost) for these transactions are always shown in the “Cashier” section.
Withdrawal requests should be submitted via the “Cashier” section.
Withdrawal requests can take up to 12 hours to process, this is dependent on business levels and is generally quicker than the quoted time.
Withdrawal fees may be charged on customer accounts where processing costs exceed commissions generated. For more information, please consult the Fees and Charges section of the Terms and Conditions page: here
Please note that only cleared funds are available for withdrawal; funds linked to open positions are not classified as “cleared.” The “account balances” section of your account in the “Cashier” provides an up-to-date look at your cleared balance, along with your other funding commitments

8. Live Streaming/Stats

Broadcasts described as “live” by third-party providers may be delayed. The extent of any delay may vary depending on the set-up through which they are receiving pictures or data. Betmatch does not accept any liability in respect of any third-party feeds. More information on Live Streaming can be found in the FAQ section.