The Exchange Rules and Regulations (‘Exchange Rules’) are part of and should be read alongside our Terms of Service.
The Exchange Rules apply to the markets offered and bets placed on the Exchange. The Exchange Rules do not apply to the markets offered and bets placed on the Sportsbook. The Exchange Rules consist of the following:
The Exchange General Rules apply to all bets unless otherwise stated in the Market Information or the Specific Sports Rules. If there is any inconsistency between the Specific Sports Rules and the Exchange General Rules, the Specific Sports Rules shall prevail. If there is any inconsistency between the Market Information and either the Exchange General Rules or the Specific Sports Rules, the Market Information shall prevail unless otherwise stated.
For any sport, category or market not referred to in the Specific Sports Rules, the Exchange General Rules and Market Information will apply.
Please note that there are separate Rules and Regulations for each of our Exchange and Sportsbook products. The rules governing how markets are offered, managed and/or settled are not the same for every market on each product. In certain circumstances, a bet that is settled as a winner on one product may be settled as a loser on the other product (and vice versa). Additionally, different settlement rules may apply so that, for example, bets that are a winner on one product may be settled as a dead heat or be voided on the other product. Customers must ensure that they familiarise themselves with the relevant rules that apply to the bets that they place on our products.
The Market Information is provided for information purposes as an at-a-glance guide on how we intend to manage the market. The Market Information may also contain rules on market settlement; however, it must always be read in conjunction with the Exchange General Rules and the relevant Specific Sports Rules. A link to this Exchange Rules 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, we reserve the right to suspend any market at any time at our sole discretion, including in order to carry out necessary administration and/or to take any necessary action to protect customers.
We will 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.
Customers should make themselves aware of all of 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.
You will at all times act in good faith in relation to the counterparties to your bets struck through the Exchange, and such counterparties will be able to enforce this duty directly against you. In particular, you will not place bets on the Exchange in breach of any sporting rules, regulations or code of conduct that apply to you.
We provide a platform upon which you can enter into various betting transactions in relation to the markets available on our websites. Where customers bet with each other (including with non-PokerStars customers) on the Exchange, PokerStars act as a facilitator and not as a counterparty.
We reserve the right to refuse to post your offer of a bet on our Exchange without giving prior notice.
You may not nominate individuals to be counterparties to any of your offers of a bet.
We do not guarantee that every offer of a bet displayed as outstanding on our site will be available for your acceptance. All or part of the offer of a bet displayed on our site as available on the Exchange at specific odds or price may be successfully cancelled by one or more counterparties before your acceptance is processed by the Exchange. In this case, the offer of a bet will be withdrawn before your acceptance of that offer is acknowledged. Your failed attempt to accept the bet formerly on offer will however be posted as an offer to other customers.
Customers placing bets on the Exchange may be matched with Betfair – a Flutter group company. Such instances represent a tiny fraction of the overall volume of betting activity on the Exchange and typically occur in one of the following two circumstances:
The Best Price Execution feature enables customers to get matched at the best available odds on the Exchange.
With the Best Price Execution feature, if better odds are available or become available after you have placed your bet request, your bet will automatically be matched at the improved odds.
The Best Price Execution feature is switched on by default for all customers. By using the Exchange, you agree that the Best Price Execution feature will be switched on by default.
In addition to only matching back bets against lay bets on the same selection, many markets benefit from a process called ‘cross-selection matching’ and ‘cross-market matching’ to match bets (referred to collectively as ‘cross-matching’):
Cross-selection matching: by using cross-selection matching, it may be possible for a bet request to be matched at a better price than could be achieved only by considering back bets and lay bets on the same selection, by also considering unmatched liquidity on the remaining selections in a market.
Cross-market matching: some selections in a particular market are equivalent to one or more combinations of bets in other markets on the same event (for example, Match Result, Asian Handicap, Correct Score and Total Goals markets). When using cross-market matching, it may be possible for a bet request to be matched at a better price than could be achieved only by considering back bets and lay bets on the same selection, by also considering unmatched liquidity on selections in other markets on the same event.
Commission is a small percentage of money that is deducted from winnings at market level to pay for the service and upkeep of the Exchange. It takes into account all your bets on a market, rather than individual bets, and so is only ever charged on markets you have made a net profit on, never your losing or break-even markets. You can check your commission rate on your Exchange Account Statement page.
Customers who currently have, or previously have had, accounts with Betfair must continue to adhere to any applicable Betfair charges, and must not attempt to evade any applicable Betfair charges. Any attempts to evade Betfair charges may result in your PokerStars account being closed.
We reserve the right to apply a premium charge to players and will contact account holders directly should this be applicable to them.
In circumstances where we are satisfied that multiple accounts have been used by one person or group of persons, either on the Exchange or the Exchange operated by a Flutter Group company (“Betfair Exchange”), in order to avoid or reduce liability for any charges, we shall be entitled to treat those accounts as if they relate to one person for the purposes of calculating charges. In such circumstances, we shall link those accounts and the linked accounts shall be jointly and severally liable for any unpaid charges.
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.
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.
The minimum stake on the Exchange is £/$/€/C$ 2. The maximum stake will vary depending on the odds and liquidity available on any given market. The minimum odds are 1.01, and the maximum odds are 1000.
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:
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:
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.
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.
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).
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:
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.
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.
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.
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:
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.
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’.
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.
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.
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.
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 (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).
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 supplied is done so in good faith. However, we 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.
We reserve the right to correct any obvious errors and will 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, we reserve the right to suspend the market and (providing we act 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 we have loaded into the relevant market and to ensure that they are placing their bet on their chosen competitor.
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. If the amount ends in .005 it will be rounded up to .01.
We may, in our 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, we may also void certain bets in a market or void a whole market in its entirety.
We reserve the right at any time in our sole and absolute discretion to suspend an Exchange market without suspending any corresponding or related Sportsbook market, or to suspend or stop offering a Sportsbook market without suspending any corresponding or related Exchange market.
Please be aware that if you place related or corresponding bets on a combination of the Exchange and Sportsbook products (and/or the betting products of other third parties), it is possible for bets on one product to be voided in accordance with our rules, while bets on another product may stand. You should note that we will have no liability to you in the event that one or more of your bets are amended or voided in accordance with our rules, even if your other related bets stand (and even if you have specifically relied on bets you have placed on one product in order to place related bets on another product).
We reserve the right to amend the Exchange Rules at any time. Any such revision will be binding and effective immediately on the publishing of such rule changes, and any bets accepted after the rule changes have been posted shall be governed by the new Exchange Rules.
We reserve the right to cancel unmatched bets to protect customers at any time.
‘Suspicious betting’ refers to where we have reasonable grounds to believe that a single or number of bets have been placed in suspicious circumstances. This shall include, but not be limited to:
In the case of any of the activities listed above, and without restricting our ability to rely on other remedies available, the following actions may be taken, depending on the circumstances:
As always, in exercising any of our rights we shall do so in a manner which is fair to you and to other users. For more details, see Clause 5 of our Terms of Service.
We are a member of the International Betting Integrity Association (‘IBIA’), a non-profit making organisation that monitors irregular betting patterns and possible instances of event manipulation. As part of that membership, we are a full participant in its early warning system which is geared towards identifying any such betting behaviour.
In the event of a warning being received by us, we withhold the right, in our absolute discretion, to:
(i) suspend the offering of any event or series of events in any of its markets; and
(ii) delay and/or withhold payment on any event or series of events in any of its markets, until the integrity of such event or series of events has been confirmed by the relevant sports federation via IBIA.
Furthermore, in the case of active event manipulation being confirmed as having taken place on any event or series of events by IBIA, acting in conjunction with the appropriate sports governing bodies, we withhold the right, in our absolute discretion, to suspend any bets placed on such events, either by any individual identified by IBIA as having possessed insider betting knowledge or information or by any other individual who in our reasonable opinion is connected to, acting in conjunction with or in any way involved with such individual.