Betting Terms & Rules
Part X - Introduction
1. Use and interpretationThe CRIC Markets Rules and Regulations ("Exchange Rules") are part of CricMarket's terms and conditions. Outlined Rules apply to all bets placed on CricMarkets Exchange, Sportsbook, AND financial markets. The Outlined Rules consist of the following:
- This INTRODUCTION section (Part X);
- The GENERAL RULES (set out in Part Y below);
- The SPECIFIC RULES (set out in Part Z below – these apply to all including to financial markets. Very specific and important);
2. Market InformationThe Market Information is provided for information purposes as an at-a-glance guide on how CricMarkets intends 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 (if any) 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, CricMarkets 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 CricMarkets customers. CricMarkets 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. User ResponsibilityCricMarkets Users should make themselves aware of all of the Exchange, sportsbook and allied market Rules affecting any market on which they wish to place a bet. Users 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. Users are responsible for managing their own positions at all times in such markets.Users 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. Users Betting DisputesAny CricMarkets user who has any concerns or questions regarding the Exchange/sportsbok/allied market Rules or regarding the settlement of any CricMarkets market should contact Betfair HERE . If a user is not satisfied with how a bet or a market has been settled then the customer should refer to our dispute resolution policy When a User has exhausted the internal CricMarkets betting dispute process without a satisfactory outcome, they may submit their betting dispute to Gaming authority, the Independent Betting Adjudication Service, or to such other independent betting adjudication service that CricMarkets may recognise from time to time.
Part Y - General rules
Managing markets In-Play
- For everything including financial markets, if a market is not scheduled to be turned in-play but CricMarkets 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, CricMarkets will use its reasonable endeavours to ascertain the time of the actual 'off' and all bets after the time of the 'off' determined by CricMarkets will be void.
- CricMarkets aims to use its reasonable endeavours to suspend in-play markets at the start of, admist and at the end of the event. However, regardless of what it says in the Market Information, CricMarkets does not guarantee that such markets will be suspended at the relevant time.
- CricMarkets will not part-suspend outcomes/selections in an Exchange market that has been turned in-play.
- CricMarkets 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 set-up through which they are receiving pictures or data. The availability of an in-play market on our Exchange product for a particular event does not necessarily mean that there will be an equivalent in-play market for the same event on our Sportsbook or other products.
- In relation to markets which are scheduled to be turned in-play, CricMarkets 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, CricMarkets 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 CricMarkets does not, at the scheduled 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 scheduled time of the “off” (and before the market is turned in-play if scheduled to go in-play) will be void. If the event does not have a scheduled “off” time, CricMarkets will use its reasonable endeavours to ascertain the time of the actual “off” and all bets after the time of the “off” as determined by CricMarkets will be void. If the event is still on-going CricMarkets will use its reasonable endeavours to re-open the market for in-play betting.
- Soccer markets - not suspending on the occurrence of a Material Event and rules relating to VAR Not suspending on the occurrence of a Material Event and cancellations of Material Events due to VAR.
- If CricMarkets does not suspend a market on time for the occurrence of a Material Event, CricMarkets 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.
- Where a Material Event is cancelled due to a determination made via a video assistant referee, CricMarkets will void bets as follows for such Material Event and the cancellation of it:
- For the cancellation of a goal, due to VAR, bets matched between the time of the goal being scored and the time at which the video assistant referee finishes the review will be voided. For the cancellation of a red card, due to VAR, bets matched after the time at which the video assistant referee commences the review will be voided.
Results and market settlement
- 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 CricMarkets (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 CricMarkets 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 where CricMarkets 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 by CricMarkets (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, CricMarkets reserves the right to suspend settlement of any market for an unlimited period until the uncertainty can be resolved to the reasonable satisfaction of CricMarkets . CricMarkets reserves the right to void any market if the uncertainty regarding settlement cannot be resolved to CricMarkets 's reasonable satisfaction.
- Markets are generally settled shortly after the end of the event in question. CricMarkets 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, CricMarkets reserves the right to amend the settlement of the market if: (i) the official result is different to the result on which CricMarkets initially settled the market (for example, a horseracing result being changed by the relevant governing body shortly after a race, but before the result is official); or (ii) if the whole market is eventually voided (e.g. for an abandoned event).
- CricMarkets 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 CricMarkets resettles a market, this may lead to amendments being made to a customer's balance to reflect changes in market settlement.
Withdrawals and disqualifications
- Subject always to CricMarkets 's 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.
Abandonments, Cancellations, Postponements
- Some markets have different rules and these are listed in the Specific 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 CricMarkets customers, then such part-settled bets will be reversed and all bets on the market will be void.
- CricMarkets 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 goalscorer = tournament; (iv) 72-hole Golf Match bet = match; (v) Ryder Cup outright = tournament; (vi) Golf tournament outright = tournament; (vii) Tennis Tournament outright = tournament;(viii) 5-day Cricket Test Match = match; (ix) Ashes Series outright winner = tournament; (x) Motor Race (e.g. Grand Prix) = match.
Change of venueSome 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 by CricMarkets , 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 by CricMarkets , 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.
- Some markets have different rules and these are listed in the Specific Market Information. For example, for match bets on Golf markets the rules are set out in the Specific Sports Rules. 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.
"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.
Dead heatsEven though you may find dead heat rules apply in some of the events options, CricMarkets has discontinued such markets. All bets will be treated as normal bet. Exchange bets which are unmatched at the 'off'.If tickets are unmatched, it will be cancelled immediately and user can place a new bet.
Rules for Cash Out
- Cash Out is a feature which is offered on various betting markets on the CricMarkets Exchange. Right now CricMarkets offer cash out only in back betting and sportsbook single bet. Cash Out allows you to amend your original bet(s) on that market and lock in a profit or a loss by settling your bet(s) (or a portion of it/them) early, without having to wait for the event to finish.
- 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 bet(s) (or the relevant portion of your bet(s)) 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 equal to the amount shown on the Cash Out button - note that this includes the original stake or portion of your stake). For a full Cash Out, any subsequent events will have no impact on the amount returned to your account. As of now CricMarkets doesn't offer partial cashout.
- 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 is available in almost all markets but CricMarkets has the rights to discontinue any of such facility at their own comfort.
- Cash Out on the CricMarkets 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).
- Using Cash Out may mean you will opt out of and no longer be eligible for a particular promotion. See the terms and conditions of the promotion for further details.
- CricMarkets reserves 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). If CricMarkets resettles a bet, this may lead to amendments being made to a customer's balance to reflect changes in bet settlement.
- CricMarkets offer 80% margin on the cashout winning amount. For eg. at any given time if your actual winning amount is 100, you will be able to cashout 80.
MiscellaneousAll references to time periods in the 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 by CricMarkets is done so in good faith. However, CricMarkets 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. CricMarkets 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 CricMarkets 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 CricMarkets has loaded into the relevant market and to ensure that they are placing their bet on their chosen competitor. CricMarkets reserves the right at any time in its sole and absolute discretion to suspend an Exchange market without suspending any corresponding or related Sportsbook or Fixed Odds market, or to suspend or stop offering a Sportsbook or Fixed Odds market without suspending any corresponding or related Exchange market. CricMarkets 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, CricMarkets may also void certain bets in a market or void a whole market in its entirety. Please be aware that if you place related or corresponding bets on a combination of CricMarkets’s Exchange, Sportsbook, Fixed Odds and/or Multiples products (and/ or the betting products of other third parties), it is possible for bets on one product to be voided in accordance with CricMarkets’s terms and conditions, while bets on another product may stand. You should note that CricMarkets will have no liability to you in the event that one or more of your bets on CricMarkets’s products are amended or voided in accordance with CricMarkets’s terms and conditions, 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). CricMarkets reserves the right to amend the Exchange Rules at any time. Any such revision will be binding and effective immediately on the posting of such rule changes on CricMarkets.com and any markets loaded after the new Exchange Rules have been posted shall be governed by the new Exchange Specific. CricMarkets 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 other bets). By way of example, $1.111, will be settled as $1.11, whereas $2.225, will be settled as $2.23. The rules may be viewed with language translator 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 Z - Specific rulesIn the event that user is able to place bet on incorrect odds due to technical or human made or feed or bookies input price errors, such bet will be marked as void and stake amount will be refunded back to the customer's account. CricMarkets stands by fairplay and will never allow to match bet on wrong odds wherein one party losses and another party wins. This rules applies to both prematch, inplay on all exchange and sportsbook and allied markets. Wrong odds is defined as the odds that's widely different from the bookie offered price in the market at particular given time (at the time of bet execution). The primary parameters that will be followed according to standard odds as offered by top betting bookmakers. Even in the circumstances wherein bets have been settled but the bet was placed on inappropriate odd, CricMarkets has absolute rights to reverse the settlement and deduct the winning amount from user's account. In such circumstances, the bet will stand as cancelled. However, if, at the time of reversal user has insufficient balance, the account will turn in to negative and user will be able to bet only when they put money in to their account in equivalent to the credit amount or more.
Last updated 03/04/2020 3.41 PM UTC