TERMS AND CONDITIONS
Last Update: August 23, 2023 (08/28/2023)
PLEASE READ THIS AGREEMENT CAREFULLY. IT SETS FORTH THE LEGALLY BINDING TERMS AND CONDITIONS FOR YOUR PARTICIPATION ON SPORTTRADE’S ONLINE AND MOBILE SPORTS BETTING PRODUCTS.
IMPORTANT NOTICE: THIS AGREEMENT IS SUBJECT TO BINDING ARBITRATION AND A WAIVER OF CLASS ACTION RIGHTS.
1. INTRODUCTION AND GENERAL TERMS AND CONDITIONS
1.1. WHO WE ARE AND APPLICATION OF THESE GENERAL TERMS AND CONDITIONS
Colorado: SPORTTRADE COLORADO LLC, is a Delaware limited liability company licensed to do business in Colorado and approved by the Colorado Division of Gaming to accept wagers ('orders' or 'trades') by electronic transmission, up to 24 hours per day. SPORTTRADE COLORADO LLC complies with the Colorado Division of Gaming on Responsible Online Gambling and rules set forth in the Casino Control Act and applicable regulations.
Each provision of Terms and Conditions operates separately. To the extent that any provision in these Terms and Conditions is illegal or unenforceable, it is severed without affecting the validity or enforceability of the remaining Terms and Conditions.
1.2. GENERAL TERMS AND CONDITIONS
To open an account with Sporttrade ('Account') you must be aged twenty-one (21) years or older at the time of account creation. A 'Member' is a person who holds an Account, and any reference to 'you' or 'your' in these Terms is a reference to a Member.
You agree that the service offered by Sporttrade is the ability to place an order, cancel an order, receive an execution, and incur a profit or loss over the Internet through our mobile app (the 'Service').
The Terms herein are intended to contain all the terms of our agreement with you in relation to your trading activity. If a Sporttrade employee or agent has made a statement to you that is not covered by or is at variance with any provision of these Terms and Conditions, you should inform customer experience immediately before utilizing our Service and understand that the Terms rule.
By opening an Account on the Service, you consent to the jurisdiction of the State of Colorado in which your Account was registered and a waiver of class action rights to resolve any disputes arising out of use of the Service, where applicable by law.
All title, ownership and intellectual property rights in and to the Service (including all the content, materials, information, results, scores, statistics, fixtures, documents, graphics and images within it) are owned by Sporttrade. You acknowledge and agree that the Service contains proprietary and confidential information that is protected by applicable intellectual property and other laws. Except as expressly authorized by Sporttrade, you agree not to copy, modify, rent, lease, loan, sell, distribute, perform, display or create derivative works based on the Service, in whole or in part.
By agreeing to these Terms and Conditions, Sporttrade may retain your information even after Account closure.
IT IS A FEDERAL OFFENSE FOR ANY PERSONS PHYSICALLY LOCATED OUTSIDE OF APPROVED STATES TO ENGAGE IN INTERNET WAGERING THROUGH SPORTTRADE, UNLESS EXPLICITLY AUTHORIZED BY THE DIVISION IN THE JURISDICTION.
1.3. MEMBER OBLIGATIONS
Members must register for an Account in order to use our Service. By registering as a user of our Service, you agree to provide accurate, current and complete user information ('Member Data') and promptly update information as it changes. In the event that a Member has not kept their Member Data up to date, we reserve the right to suspend the Account.
You must be physically located within the jurisdictional boundaries in which Sporttrade is licensed to conduct sports betting by the Colorado Division of Gaming Enforcement. It is a Federal offense under the Interstate Wire Act of 1961 and the Unlawful Internet Gambling Enforcement Act of 2006 for any persons physically located outside of such jurisdictional boundaries to engage in internet wagering through the Service, unless expressly authorized by the relevant gaming regulated body. Any Member in violation of this rule may cause their Account to be suspended and any Account transactions may be frozen and/or voided.
You must not be a prohibited sports betting participant in any of the states where Sporttrade is live."Prohibited sports betting participant" means any person who is prohibited pursuant to 44-30- 1506, C.R.S., any individual whose participation may undermine the integrity of the betting or the sports event, or any person who is prohibited for other good cause, including, but not limited to: any individual placing a wager as an agent or proxy; any person who is an athlete, coach, referee, player, in, or on, any sports event overseen by that person's sports governing body based on publicly available information; a person who holds a position of authority or influence sufficient to exert influence over the participants in a sporting contest, including, but not limited to, coaches, managers, handlers, or athletic trainers; a person with access to certain types of exclusive information on any sports event overseen by that person's sports governing body based on publicly available information, or a person identified by any lists provided by the sports governing body to the Division. Any other employee of a sports governing body, or one of its member teams, who is not a prohibited sports pool participant, is required to register with the ColoradoNew Jersey Division of Gaming Enforcement prior to placing a sports pool wager.
You hereby represent and warrant that you are fully able and competent to agree to the terms, conditions, obligations, affirmations, representations and warranties set forth in these Terms and to abide by and comply with the Terms.
We periodically monitor transactions on Accounts. You accept that if we detect activity which indicates to us that you are in breach of these Terms and Conditions, we may, in our discretion, either suspend or permanently close your Account. You accept that the data available to monitor betting on an Account is not always accurate and Sporttrade will use its discretion in accepting any orders made by your Account while conducting any investigation.
By opening an Account on the Service, you consent to allowing the Colorado Division of Gaming Enforcement and any other State enforcement or regulatory Agency to monitor and record any wagering communications and geographic location information.
In the event that Sporttrade discovers that an Account has been opened by someone other than the Member named on the account, Sporttrade may request proof of payment method, personal identification, utility statement or bank account, a signed W9, or other supporting information prior to permitting a withdrawal of the original funds and in its discretion, close the Account. Winnings may be forfeited if the Account holder opens the Account contrary to these Terms and Conditions and Members may be reported to the Colorado Division of Gaming Enforcement or Colorado State Police to review the matter for fraud.
Sporttrade may suspend or terminate your Account if you use any third-party mechanisms in order to bypass the geo-location requirements.
Where a person successfully applies for an Account with Sporttrade, the Member must then comply with the requirements set out in Rules 1.4.1 to 1.4.12 (inclusive) of these Terms and Conditions to our satisfaction to fully activate their Account and withdraw funds.
A Member must immediately notify Sporttrade of any matter (including any potential mental impairment) that may lead us to reasonably infer that your ability to make sound judgments about betting have been compromised or impaired.
You may not, at any time, be listed as a prohibited Member or a self-excluded Member and attempt to access the Service. If at any time you feel the need to be self-excluded, please see Section 8 below or visit the following self-exclusion program for Colorado:
Problem Gambling Coalition of Colorado Program: https://www.problemgamblingcoalitioncolorado.org/self-exclusion
Sporttrade reserves the right to limit your deposits if we feel that you are not using our app and or website responsibly. You may, at any time, receive emails or phone calls to verify that you are not betting over your limit and/or risking money you can’t afford to lose. Remember, betting isn’t a professional activity for the overwhelming majority of Members. Using the Service isn’t a smart way to “get even” or “win back losses”.
You agree to indemnify, defend and hold harmless Sporttrade and its parents, subsidiaries affiliates and agencies, as well as the officers, directors, shareholders and representatives of any of the foregoing entities, from and against any and all losses, liabilities, expenses, damages, costs (including attorneys' fees and court costs) claims or actions of any kind whatsoever arising or resulting from your use of the Service, your violation of these Terms, your receipt, ownership, use or misuse of any prize, and any of your acts or omissions that implicate publicity rights, defamation or invasion of privacy. Sporttrade reserves the right, at its own expense, to assume exclusive defense and control of any matter otherwise subject to indemnification by you and, in such case, you agree to cooperate with Sporttrade in the defense of such matter.
You expressly understand and agree that your use of the Service is at your sole risk. The Service (including the Service and all the content, materials, information, results, scores, statistics, fixtures, documents, graphics and images within it) are provided on an "AS IS" and "as available" basis, without warranties of any kind, either express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose or non-infringement.
Sporttrade cannot guarantee the accuracy or timeliness of live scores, time remaining and the status of games displayed on the Sporttrade App in connection with live betting, which may come from third parties not controlled by Sporttrade. We accept no liability for the incorrect display of this information. If you rely on this data to place bets, you do so entirely at your own risk.
YOU ACKNOWLEDGE AND AGREE THAT YOU ASSUME FULL RESPONSIBILITY FOR YOUR USE OF THE SITE AND SERVICE. YOU ACKNOWLEDGE AND AGREE THAT ANY INFORMATION YOU SEND OR RECEIVE DURING YOUR USE OF THE SITE AND SERVICE MAY NOT BE SECURE AND MAY BE INTERCEPTED OR LATER ACQUIRED BY UNAUTHORIZED PARTIES. YOU ACKNOWLEDGE AND AGREE THAT YOUR USE OF THE SITE AND SERVICE IS AT YOUR OWN RISK. RECOGNIZING SUCH, YOU UNDERSTAND AND AGREE THAT, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, NEITHER SPORTTRADE NOR ITS SUPPLIERS OR LICENSORS WILL BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, EXEMPLARY OR OTHER DAMAGES OF ANY KIND, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER TANGIBLE OR INTANGIBLE LOSSES OR ANY OTHER DAMAGES BASED ON CONTRACT, TORT, STRICT LIABILITY OR ANY OTHER THEORY RESULTING FROM THE SITE OR SERVICE; THE USE OR THE INABILITY TO USE THE SITE OR SERVICE; UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; STATEMENTS OR CONDUCT OF ANY THIRD PARTY ON THE SITE OR SERVICE; ANY ACTIONS WE TAKE OR FAIL TO TAKE AS A RESULT OF COMMUNICATIONS YOU SEND TO US; ANY INCORRECT, ILLEGIBLE, MISDIRECTED, STOLEN, INVALID OR INACCURATE ENTRY INFORMATION; HUMAN ERRORS; TECHNICAL MALFUNCTIONS; FAILURES, INCLUDING PUBLIC UTILITY OR TELEPHONE OUTAGES; OMISSIONS, INTERRUPTIONS, LATENCY, DELETIONS OR DEFECTS OF ANY DEVICE OR NETWORK, PROVIDERS, OR SOFTWARE (INCLUDING, BUT NOT LIMITED TO, THOSE THAT DO NOT PERMIT AN ENTRANT TO PARTICIPATE IN THE SERVICE); ANY INJURY OR DAMAGE TO COMPUTER EQUIPMENT; INABILITY TO FULLY ACCESS THE SITE OR SERVICE OR ANY OTHER WEBSITE; THEFT, TAMPERING, DESTRUCTION, OR UNAUTHORIZED ACCESS TO, OR ALTERATION OF, ENTRIES, IMAGES OR OTHER CONTENT OF ANY KIND; DATA THAT IS PROCESSED LATE OR INCORRECTLY OR IS INCOMPLETE OR LOST; TYPOGRAPHICAL, PRINTING OR OTHER ERRORS, OR ANY COMBINATION THEREOF; OR ANY OTHER MATTER RELATING TO THE SITE OR SERVICE. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, SPORTTRADE'S LIABILITY TO YOU FOR ANY CAUSE WHATSOEVER AND REGARDLESS OF THE FORM OF THE ACTION, WILL AT ALL TIMES BE LIMITED TO THE AMOUNT PAID, IF ANY, BY YOU TO SPORTTRADE FOR GENERAL USE OF THE SITE OR SERVICE DURING THE TERM OF YOUR REGISTRATION FOR THE SITE, NOT INCLUDING ANY ENTRY FEES FOR CONTESTS COMPLETED PRIOR TO THE CIRCUMSTANCES GIVING RISE TO THE CLAIM.
1.4. MEMBER IDENTIFICATION REQUIREMENTS
You hereby grant consent to Sporttrade to confirm your identity by requesting your Member Data as prompted through the Sporttrade registration process. If you do not provide full details as requested, you may have your Account suspended, without notice, pending an investigation.
Sporttrade will take all reasonable steps to ensure that the Personal Information which it collects, uses or discloses is correct and is stored in a secure environment which is accessed only by authorized persons.
Sporttrade will destroy or permanently de-identify the Personal Information we hold when it is no longer required for any purpose.
The Service contains adult content and is intended for use by persons over the age of twenty-one (21). You must be over the age of twenty-one (21) to create an Account or submit any order on the Service. It is a criminal offense for someone under the age of 21, or to allow someone under the age of 21, to access your Account. If you are found to be under the age of twenty-one (21), or have been found to create an Account to allow someone under the age of twenty-one (21) to wager on Sporttrade, your Account will be immediately suspended and you will be reported to the Colorado Division of Gaming Enforcement.
A Social Security Number (SSN) is required for account creation. You represent that at the time of wagering that you are physically located in the State of Colorado where sports betting is legal and Sporttrade is regulated.
You are required to provide Sporttrade with adequate identification information for the purposes of complying with our Anti-Money Laundering policy required by the Bank Secrecy Act, which is a federal law requiring financial institutions in the United States to assist government agencies in detecting and preventing money laundering. The Bank Secrecy Act provides federal standards of identification for proof of legal name, age and residential address (post office boxes are not permitted), without which Sporttrade may not open a Member Account.
To be eligible to deposit, place an order, receive an execution, or receive any winnings, and or withdraw funds, you may be required to provide Sporttrade with additional documentation and/or information to verify the identity of the Member, and to provide proof that all eligibility requirements are met. In the event of a dispute as to the identity or eligibility of a Member, Sporttrade will, in its sole and absolute discretion, utilize certain information collected by Sporttrade to assist in verifying the identity and/or eligibility of such Member.
Sporttrade will request the last four digits of a Member's Social Security Number for verification purposes upon registration. Additionally, Sporttrade's third-party verification software may pass the first five digits of a Member's Social Security Number to your state's relevant gaming regulatory body, or payment provider, if required for further verification purposes.
You accept that Sporttrade will supply your ID to a third party upon Account creation, for the purpose of ID verification, which may involve checking the Member's ID against third party databases and/or credit headers. All Members are required to be Know Your Customer (KYC) verified. If the KYC verification fails, a Member will be unable to access their Account and must contact customer experience (see section 1.11 below). You can send documentation to the various channels: On twitter at @SporttradeHelp On the app using the live chat feature Over email via support@getsporttrade
Unfortunately, the verification process available cannot verify every Member this way. No personal financial information of a Member is passed between Idology or other third-party ID verification providers and Sporttrade as part of the ID verification process. Sporttrade may also use other public information services to confirm a Members' identity.
As part of the Member Data it collects, Sporttrade requires proof of a Member's current address. If the Member's address is not on the front or back of valid government issued photo identification (driver’s license, state ID card or US passport) , the Member must provide proof of current address acceptable to Sporttrade. Acceptable proof of current address in such circumstances may include, at Sporttrade's discretion, a copy of one or more of the following documents (which must be dated no more than 60 days prior to the date that the Member provides the document to Sporttrade): (i) a utility bill; or (ii) a statement from a financial institution. Sporttrade, at its option, may require that some documents, described in these Terms and Conditions, be notarized.
All documents must be produced in the English language or they will be rejected. Sporttrade reserves the right to carry out checks on the individual certifying documents and to get in touch with them to verify the validity of the document. Sporttrade may in its discretion reject certified documents for any reason.
Sporttrade may at any time request acceptable valid government issued photographic identification and proof of a Member's current address from a Member to ensure that all information supplied by the Member is up to date. This may require official certification of a Member's identifying documents upon our request.
Should a Member deliberately falsify any identification or any other details for any purpose associated with applying for an Account or transacting on the Account, Sporttrade reserves the right to suspend the Account and/or close the Account without prior notification to the Member and report this action to the Colorado Division of Gaming Enforcement and Colorado State Police.
Sporttrade reserves the right at its discretion to refuse to accept a payment card including but not limited to in circumstances where the payment card is dishonored. Any payment methods used to fund a Member's Account must match the Member's Account details. Payment methods with a name other than that which is registered with Sporttrade for the Account in question will be refused and the Account may be suspended until proof of consent is provided by the third-party cardholder. Sporttrade reserves the right to request a copy of the front and back of the card registered on the Account at any time. Receipt of a card is no guarantee of Account activation/reactivation. Sporttrade may request legible copies of the front of any applicable card.
In the event a Member abandons their registration for Sporttrade at the initial sign-up page, Sporttrade may retain the email address to contact that Member with instructions on how to complete the sign-up process, initiate a deposit, place an order, or current promotional offers.
1.5. ACCOUNT SECURITY
You are responsible for ensuring that your username and security details (including any personal identification number ('PIN'), password or Account number) ('Secure Member Details') are kept confidential. You may not use a username that Sporttrade in its sole discretion deems offensive. If a Member suspects that their Secure Member Details may no longer be confidential or that there may have been unauthorized use of their Account, they must notify Sporttrade immediately, and Sporttrade may provide the Member with new Secure Member Details. Where Sporttrade provides the Member with new Secure Member Details, Sporttrade reserves the right to invalidate any future transactions which attempt to utilize the previous Secure Member Details of that Member.
A Member's Account is for the sole personal use of the Member only and shall not be used by any third-party. Sporttrade shall not be liable for any loss or damage incurred by the Member because of any third-party access to the Member’s Account. Any actions, including, but not limited to: setting responsible gambling limits, placing deposits, requesting withdrawals, placing orders, and canceling orders where a Member's username and password have been correctly entered will be regarded as being performed by the Member.
Members will be responsible for all orders and resulting executions on their Account in which their Secure Member Details are used.
Members should check the balance of their Account each time they log on to their Account or at the time they place an order. In the event of a query, it is the Member's responsibility to notify Sporttrade customer experience immediately.
1.6. DEPOSITS AND WITHDRAWALS
By depositing funds, you agree to provide us with a valid mailing address, date of birth and social security number and any other information Sporttrade may require in order to run appropriate identity checks and comply with applicable federal and state rules and regulations. Deposits into an Account can be made by means provided on the app. Sporttrade may limit the amount a Member can deposit into their Account in accordance with state-imposed limits.
Deposits and Member winnings are held in a separate, segregated bank account. These funds belong to you, subject to review of evidence of fraud, and Sporttrade may not use these funds to cover operating expenses or for any other purposes. Your withdrawals will be made from this separate bank account.
Sporttrade is required to comply with all state and federal tax reporting requirements and as such, may request winning Members to provide updated Member Data for (W2G and 1099-Misc) tax reporting purposes. You are responsible for filing and paying all applicable state and federal taxes on any winnings. Sporttrade does not provide any tax advice, nor should any provisions in these Terms and Conditions or on the Service be construed as tax advice.
Sporttrade reserves the right to remove or add payment options from time to time. Current available payment methods can be viewed within the ‘Account' section of our app when you are logged in to your Account.
If Sporttrade determines that funds deposited are not for the purpose of placing orders, Sporttrade may in its discretion decline the deposit, return the funds to the original payment method used to fund the Account, and close the Member's Account.
If Sporttrade determines that the funds deposited are not from a funding instrument in the Member's name or are not expressly authorized to be used by them, Sporttrade reserves the right to decline the deposit and return the funds to the original payment method. If this determination takes place after orders have been placed and/or trades have been executed, Sporttrade reserves the right to cancel any orders or backout any trades on the Member's Account subject to approval from CDOG.
If Sporttrade determines that there is not enough information to prove the owner of a particular payment option, we reserve the right to request certified documentation as proof of ownership prior to making any decision.
Sporttrade reserves the right to check directly with the Member's funding institution that supplied the payment option used to deposit to confirm that the details provided by the Member to Sporttrade are valid and correct.
A Member may be restricted in size while placing an order, if an error is made during a transaction, or for any other reason, determined at our discretion.
By depositing to Sporttrade you accept that at its discretion, Sporttrade may require a Member to return the value of their deposit back to the original funding instrument.
Sporttrade must comply with the Bank Secrecy Act. Should we consider that a deposit or withdrawal may potentially be fraudulent or suspicious, we reserve the right to request proof of deposit or withdrawal bank account information to verify that the information provided is true and correct prior to permitting funds to be withdrawn from the Account.
Sporttrade must comply with CDOG regulations. Certain deposits, order requests and withdrawals/payouts from patrons may be subject to a delayed approval process at Sporttrade’s discretion.
If Sporttrade determines that the risk presented from a payment to or from an Account to be undesirable, Sporttrade reserves the right to cancel the deposit or withdrawal.
Sporttrade does not charge Members for deposit or withdrawal fees. For Members placing a deposit via a Wire, Sporttrade will cover any wire transfer fees for amounts greater than $10,000.
Sporttrade does not allow third party bank account holders or payment card holders to transact on an Account that has not been registered in their name. Members must use their own or joint deposit and withdrawal methods. Sporttrade reserves the right to suspend any Accounts, without notice, with third party payment details and will request confirmation of permitted use from that third party prior to re-opening the applicable Account and allowing further transactions.
If Sporttrade successfully identifies third party payment transactions on an Account, we reserve the right to remedy the situation. In this case, Members accept that any orders placed or trades executed, may be canceled and/or backed out and funds returned to them. Members accept that Sporttrade will review each situation on a case-by-case basis taking into account deposits, withdrawals, trades and any other information available. Members accept that when an Account has not been operated on a good faith basis that Sporttrade may refuse future payment transactions or backout any executions, and retrospectively do the same, at its discretion, subject to the approval of the CDOG. Sporttrade reserves the right to place limits on deposits and restrict or prohibit withdrawals on any Member's Account if the Member has not fulfilled the identification requirements specified herein, and if required, suspend a Member’s Account entirely until those requirements have been satisfied.
A Member can request a withdrawal of winnings as follows:
by selecting ‘Online Banking’
by selecting Paypal/Venmo
if the option is made available, by opting ‘Wire Transfer’. A Member can call Customer Experience for instructions so that Sporttrade can process the transaction.
Sporttrade reserves the right to reject pending withdrawals to ensure that the maximum loss of all open positions or any potential voiding of Outcomes do not result in a negative Account balance.
You have the right to review all your activity under ‘Account’ → ‘Statements’ → ‘Activity Ledger’ which details a Member's deposit, withdrawal, and trading activity, and Responsible Gambling limits.
Sporttrade has a number of controls and checks in place during the withdrawal process. In order to protect your funds, Sporttrade implements a number of security checks before any withdrawal request is processed. Sporttrade reserves the right to withhold any withdrawal until these checks have been completed. We generally expect withdrawals to be processed within twenty-four (24) hours, however they may take up to five (5) working days. Once posted, checks will usually take two (2) to five (5) working days to arrive.
For the avoidance of doubt, any reference in these Terms and Conditions to our ability to backout trades or void Outcomes and/or confiscate funds from a Member is subject to our receiving permission to do so as may be required from the relevant gaming regulatory body.
Members agree and warrant that no chargebacks or other cancellation of deposits will be made relating to your Account without our consent. In the event of any of the foregoing occurring, you agree to indemnify us for any costs, claims, damages and expenses relating to or arising in connection with this, including any expense incurred by us in recovering such amounts.
If a Member disputes a financial transaction on their Account relating to a third party (e.g. Bank or card issuer), Sporttrade may temporarily suspend your Account, without notice, pending an investigation by us relating to the transaction. If we incur any loss as a result of that investigation, we reserve our right to recover such losses from you.
If you use any of Sporttrade banking specific options, you accept that Sporttrade may request a certified or non-certified bank statement to verify where funds have originated from prior to any withdrawal being approved. You also accept that Sporttrade may decide to return these funds at its discretion and cancel orders and/or backout trades should it deem the funds may be unauthorized.
Sporttrade will, at its discretion, report illegitimate chargebacks to the appropriate gaming authority and/or relevant law enforcement.
Sporttrade reserves the right to withhold deposited funds and/or winnings from trading activity should we determine that a payment card has been misused or used fraudulently. Any matters of inappropriate or fraudulent use of any payment card will be reported to the relevant authority. The Member's Account may also be permanently closed.
Sporttrade may employ third party technologies to track and store technical information on the device that Members choose to use. Members accept that this data may be used to reach decisions on investigations where Accounts have not been operated in good faith, including but not limited to: Account takeover, trading abuse, multiple Account operations, payment method abuse etc.
Sporttrade reserves the right to close the Accounts of, and/or cancel any or all orders, and/or backout any or all trades made by, any person, group of people or corporation in an attempt to defraud Sporttrade. This includes, but is not limited to, situations where an Account is being used by someone other than the Account holder, or any third-party software.
Sporttrade reviews Accounts to monitor any activity that it might consider unusual (including as set out at 1.8.7 below). If unusual or irregular trading patterns are discovered, Sporttrade reserves the right to suspend an Account pending a full investigation, without notice.
You will not knowingly disguise or interfere in any way with the IP address of the computer or internet- enabled device you are using to access the website or otherwise take steps to prevent us from correctly identifying your device or the actual IP address of the computer you are using whilst accessing the Service. If this is noted, your account may be blocked.
You shall indemnify and shall be liable to pay us, on demand, all costs, charges or losses sustained or liabilities incurred by us (including any direct, indirect or consequential losses, any loss of profit and loss of reputation) arising directly or indirectly from your fraudulent, improper, misleading, manipulative or other unacceptable activity (whether or not unlawful).
Sporttrade regularly reviews accounts for fraudulent, improper, misleading, manipulative or other unacceptable activity (whether or not unlawful) in relation to your access to or use of our Services. Such activity can include (but is not limited to):
used or attempted to use any software-assisted methods or techniques or hardware devices for participation or manipulation of any of our systems;
have introduced or attempted to introduce any virus or other harmful or malicious application or material to our systems;
have introduced or attempted to introduce any defamatory, obscene, abusive or unlawful material to our systems; and/or
trading consistently and with intent against one or numerous other Members for the main purpose of opening and closing Positions on listed Outcomes, or for the intent to solely increase volume on the platform, or for other nefarious intent
In addition to our rights under these Terms and Conditions, we reserve the right to seek the fullest civil and criminal sanctions against any Member involved in financial crime and, where we have reasonable grounds for suspicion and without notice to you, to notify the relevant regulatory, sport's governing body or law enforcement authorities where appropriate.
1.9. SPORTTRADE'S RIGHTS AND OTHER MATTERS
Sporttrade reserves the right to cancel, change or restrict the products or types of Markets and/or Outcomes at any time with or without notice to Members.
In accordance with state requirements, Sporttrade maintains a separate bank account that contains sufficient funds to match every dollar of Member funds.
Sporttrade has made considerable efforts to ensure that its sports betting business operates in a fair, efficient and accurate manner. To the extent permitted by law, Sporttrade excludes all warranties (express or implied) relating to or arising out of the betting services we offer and excludes any liability for direct, indirect or consequential loss, damage, expense or injury suffered by any Member arising out of:
these Terms and Conditions;
use by a Member of their Account; or
any action taken by Sporttrade in relation to a Member's Account.
To the extent permitted by law, Sporttrade's liability in respect of any claim or loss shall be limited in amount of risk to the relevant order and/or resulting execution by a Member.
A Member may only have one Account. If a Member has additional Account(s), then the Account balances of all associated Accounts shall be transferred into the first Account opened by the Member ('First Account'.) Further:
if, after such transfers the First Account has a debit balance, then Sporttrade shall be entitled to receive payment immediately upon written request to the Member to clear the debit balance; or
if, after such transfers there is a credit balance in the First Account, the credit balance will be held by Sporttrade until such time as a determination has been made by Sporttrade as to whether or not there has been a breach of these Terms and Conditions.
Sporttrade reserves the right to remove bonuses and (subject to any Terms which permit us to do otherwise) refund the remaining balance should a Member be in breach of these Terms and Conditions and/or the terms and conditions of the specific promotion.
Sporttrade products and Market and our Outcome types are intended for bona fide Members, that is, those Members who act in good faith, sincerely, and without fraud.
Sporttrade reserves the right, in its sole discretion, to determine that a Member is not eligible for certain products, Outcome or Market types, or promotions.
Sporttrade reserves the right to close or suspend the Accounts of, and/or cancel any orders, and/or backout any or all trades made by any person where, in Sporttrade's reasonable opinion, the Account has not been operated with integrity and/or the originating order has not been placed on a good faith basis. This includes, but is not limited to, situations where an Account is being used by someone other than the Account holder. Sporttrade can, in its sole discretion, withhold any or all related funds in the Account pending the outcome of an investigation on that Account.
Where a Member has been referred to Sporttrade by a third party, including by a third-party operated website, and where that third party is an affiliate or agent of Sporttrade, you acknowledge that Sporttrade may make commission payments to that third party. Payments to agents or affiliates are unrelated to the odds or prize money offered to Members by Sporttrade.
As a responsible operator, Sporttrade offers its Members the ability to control the amount they deposit by setting a limit on the amount they can deposit to their Account per day, per week and per month (referred to as a 'Deposit Limit').
Any reference to a discretion which may be exercised by Sporttrade under these Terms and Conditions means Sporttrade's sole and absolute discretion.
1.10. INFORMATION RETAINED AND/OR PROVIDED TO GOVERNING BODIES OR LAW ENFORCEMENT
Sporttrade reserves the absolute right to provide information on the Member to a) any regulatory authority (including but not limited to the Colorado Division of Gaming Enforcement) when Sporttrade receives and/or deems it a reasonable or necessary request for the Member’s information or b) Law Enforcement (including the Colorado State Police, the FBI, or any other Federal Investigators) as part of a legitimate enquiry, which may include:
i. All Records or documents in the possession or control of Sporttrade relating to transactions (including financial and/or wagering information) of the Member; and
ii. The name, contact details and similar identifying information in the possession or control of Sporttrade relating to that Member.
1.11. DISPUTE RESOLUTION
PLEASE READ AND REVIEW THIS SECTION CAREFULLY AS IT MAY SIGNIFICANTLY AFFECT YOUR LEGAL RIGHTS, INCLUDING YOUR RIGHT TO FILE A LAWSUIT IN COURT.
Our Customer Experience team is available via (a) Twitter at @SporttradeHelp (b) The app using the live chat feature, or (c) Email via [email protected]
The parties agree to use their best efforts through this customer experience process to settle any dispute, claim, or disagreement and engage in good faith negotiations which shall be a condition to either party initiating a lawsuit or arbitration. Sporttrade is committed to providing world-class customer experience, and to dealing with disputes and complaints in a prompt, efficient, and fair manner. We will endeavor to provide our final response to your dispute or complaint within five (5) days. Please visit our Patron Protection page under ‘Account’ on the App to understand your rights and ability to resolve any dispute.
If any Dispute cannot be resolved between Sporttrade and the Member, you are entitled to refer the Dispute to the relevant gaming regulatory body in the state in which your dispute has occurred via the method below:
Colorado: A Dispute may be lodged with CDOG. The form to file a dispute can be found at the link below. The decision of CDOG is final and binding on Sporttrade and the Member. https://sbg.colorado.gov/complaint-by-gaming-patron
We reserve the right to backout any trade or alleged trade that is the subject of a dispute by you pending the resolution of the dispute and any such voiding will be valid and effective as though made with your agreement.
Any complaint or queries regarding missing orders and/or trades should, if possible, be supported by a copy of the order and/or trade confirmation' screenshot (if available) together with full details of the missing order/trade.
No rule of contract interpretation may be applied in the interpretation of these Terms and Conditions to the disadvantage of a party on the basis that it prepared or put forward these Terms and Conditions or any document forming part of these Terms and Conditions.
We may require additional information from you about your dispute or complaint.
CLASS ACTION WAIVER: The parties agree that any arbitration or litigation shall be conducted in their individual capacities only and not as a class action or other representative action, and the parties expressly waive their right to file a class action or seek relief on a class basis. YOU AND SPORTTRADE AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.
Notwithstanding other methods of dispute resolution, either party may bring an action in state or federal court located in the state in which your Account was registered to protect its intellectual property rights ('intellectual property rights' means patents, copyrights, moral rights, trademarks, and trade secrets, but not privacy rights).
1.12. DORMANT ACCOUNTS
Your Account will become dormant if you have not logged into your Account for a period of more than three (3) years ('Dormant Account').
Logging into your Account will make a Dormant Account become an Active Account.
Any order must be submitted by you via the client platform on our mobile app and/or website.
By providing us with a postal and/or email address and/or telephone number at which to contact you, you warrant that we will at all times be able to contact you promptly at the address and/or number in question. If any of these contact details become obsolete or ineffective, you must notify us immediately and provide us with an effective alternative.
A communication that has been sent or made available to you will for all purposes be deemed to have been received by you.
We will not be held responsible for correspondence sent to you/messages left for you at a previous postal address, email address or telephone number, if the correspondence was sent to/ message left at the address or number we have for you on record, and you have not notified us in writing of any changes to that address or number. It is your responsibility to notify us of any significant time that may be spent away from your normal contact points, whether overseas or not. Alternative contact details must be provided. The address you provide us with at any given time should be (a) your primary home address, (b) current, (c) accurate. If you move, you must tell us immediately. Failure to do so prior to placing an order with us may constitute an 'Event of Default' and may lead to your open positions(s) being closed out and/or orders being canceled.
All trades have the potential of loss. Betting is a form of gambling where you can lose more than you initially risk or deposit. This means betting will not be suitable for everyone nor suit everyone's financial situation. Ensure that you are aware and fully understand the risks associated with betting before placing an order. Please remember to use our Service entirely at your own risk and remember to trade responsibly. Please see the Responsible Gambling Statement section of our terms and conditions for assistance with responsible gambling or problem gambling, or to read our Responsible Gaming Policy. Remember, using our Service should be fun, not a way to “get even” or “win back losses”.
1.15. EVENTS OF DEFAULT
Each of the following are Events of Default:
Any payment has become due to us from you and remains unpaid on the expiry of the time allowed for payment by these Terms and Conditions;
Any breach by you of your obligations and/or undertakings under these Terms and Conditions (including any terms incorporated by reference);
Your failure to perform any material obligation due to us including a breach of these Terms and Conditions;
Any statement, made by you to us, is false, inaccurate or misleading in any material way;
Any statement previously made by you to us becomes false, inaccurate or misleading in any material way; and you fail to inform us of the true position as soon as you reasonably can;
A statutory demand is served upon you, or bankruptcy proceedings are initiated against you, or we have reasonable grounds to believe that you are unable to pay your debts as they fall due (if you are an individual), winding-up proceedings, or if you enter into a voluntary arrangement with your creditors or analogous procedure is commenced against you;
Any payment by you, is dishonored or other payment instruction given by you is returned unpaid (unless resulting from our or a third party's error or fault or some other cause beyond your reasonable control) and you do not make a full payment to us with the time allowed for payment;
A “freezing order” is validly served on us by a third party in relation to you;
It is discovered that you are being medically treated for a form of mental illness that affects your capacity to place an order with us and makes it inappropriate for you to be wagering. Mental illnesses that we reasonably consider to cause an Event of Default include but are not limited to dementia, Alzheimer's and clinical depression;
When dealing with our staff you behave in a way that we reasonably believe is threatening or abusive;
You have directly/indirectly allowed someone under the age of twenty-one (21) years old to access your Account;
An Event of Default occurred, and you do not notify Sporttrade; or
Any event occurs that is described elsewhere in these Terms and Conditions as an Event of Default.
1.16. CONSEQUENCES OF AN EVENT OF DEFAULT
If an Event of Default occurs, we shall be immediately entitled but not obliged, to: a) cancel all of your orders, and (b) close all or any of your open positions (whether they are in loss or in profit) at the then prevailing market price, or if there is none, at a price that is fair and reasonable. If there is an Event of Default our right to do (a) and/or (b) will apply for as long as you have any orders or any open positions.
If an Event of Default has not occurred but we reasonably believe that it is likely to occur, we shall be immediately entitled but not obliged, to: a) cancel all of your orders, and (b) close all or any of your open positions (whether they are in loss or in profit), at the then prevailing market price, or if there is none, at a price that is fair and reasonable.
We will not be under any obligation to give you any opportunity to remedy an Event of Default before we perform (a) and/or (b) as described in 1.16.1. If, however, we do choose to do so, this in itself will not waive the Event of Default or our rights in relation to it.
1.17. DEATH OF A MEMBER
On receipt of a certified copy of a Death Certificate or other news of a Member's death that we reasonably rely upon to be true, we will, within a reasonable time: a) cancel all the orders, and (b) close all of the open positions (whether they are in loss or in profit) of the deceased Member’s Account at the then prevailing market price, or if there is none, at a price that is fair and reasonable.
Payment will be issued for any credit balance (payable to personal representatives of the deceased), or demand made on the estate for payment of any debit balance.
It may be necessary from time to time to suspend some or all of our Service in order to carry out upgrades, repairs and maintenance. We shall endeavor to give you prior notice of any such occurrences, but this may not always be reasonably practicable.
1.19. TECHNOLOGICAL FAILURE AND EXCLUSION OF LIABILITY
We will not in any event be responsible or liable for any loss, loss of profit, revenue, business, contract, goodwill or data or any consequential loss or damage (being loss or damage arising from our breach of these Terms and Conditions that we could not have reasonably been expected to foresee when we entered into these Terms and Conditions with you) arising from the use or unavailability of our Services. Such loss and damage may result from (including but not limited to):
the unavailability whether for technical reasons or otherwise of the Service or any part of it so that you are unable to communicate or trade with us (including without limitation because, for example, all our telephone lines are busy or through the loss of internet communication); or
an inaccuracy or mistake in any information given to you or in carrying out your instructions; or
the closure or avoidance of any order or trade in accordance with these Terms and Conditions); or
as a result of the unauthorized access to our Services by a third party or the corruption of data sent by you to us or by us to you.
We take reasonable precautions to ensure that data generated and used by us has been swept for viruses, but it is your responsibility to ensure that the transmission, opening or use of such data to you will not adversely affect your systems or data. You should ensure that your computer has up to date virus and malware detection software and that you carry out such virus and other checks as you consider appropriate. No responsibility is accepted by us for losses that you may suffer as a result of viruses on your device which includes but is not limited to infection with malware, Trojan virus and keylogging software.
If and to the extent that we are found liable for any losses or damages, whether arising from or in connection with a bet otherwise, without prejudice to Rules 1.9.3 and 1.9.4 of these Terms and Conditions, the amount of the relevant risk incurred on an order or execution and/or funds deposited (as applicable) by the Member.
For any reason, if a Member is disconnected from their session, including, but not limited to, hardware failure, telecommunication failure, internet failure or other, any orders accepted, or executed but not communicated due to disconnection will still be placed.
1.20. MARKET INFORMATION
As a matter of business practice, we endeavor to keep you informed, whether through the Website, email, promotional materials or otherwise, of the status from time to time of certain sporting events around which we are offering our betting Service (‘Markets’), and, on occasion, of prior historical statistics relevant to such events or Markets. While we offer such information in good faith, we do so without any responsibility and make no claim as to the accuracy or otherwise of any such information. You are warned that any information given to you by us may be inaccurate and you promise that in making decisions that relate to your submitting of orders, you will rely solely on your own information (obtained from sources other than us) and judgment.
1.21. FORCE MAJEURE EVENTS
We may, in our reasonable opinion, determine that an emergency or an exceptional market condition exists (a "Force Majeure Event"), in which case we will, as soon as is reasonably practicable, take reasonable steps to inform you.
A Force Majeure Event shall include, but is not limited to, the following:
any act, event or occurrence (including, without limitation, any strike, riot or civil commotion, hurricane, war, fire, riot, earthquake, terrorism, act of public enemies, actions of governmental authorities outside of the control of Sporttrade (excepting compliance with applicable regulations) interruption of power supply, electronic, communication equipment or supplier failure) that prevents us from offering or continuing to offer one or more of our Markets at all or in a manner that we reasonably consider to be a fair betting Market;
the suspension, closure, abandonment or failure of any event upon which we base, or to which we in any way relate, our Outcomes, or the imposition of limits or special or unusual terms on the trading in any such Outcome or on any such event, which prevents us from offering or continuing to offer one or more of our Outcome at all or in a manner that we reasonably consider to be fair; or
the occurrence of an excessive movement in the level of any of our prices and/ or any corresponding Outcome or our anticipation (acting reasonably) of the occurrence of such a movement prevents us from offering or continuing to offer one or more of our Outcomes at all or in a manner that we reasonably consider to be a fair Outcome.
If a Force Majeure Event has occurred, we may at our discretion and without notice to you, take steps to the extent that our actions are necessary or reasonable by way of obviating or reducing the commercial risks stemming from the Force Majeure Event. The failure of Sporttrade to comply with any provisions of these Terms and Conditions due to a Force Majeure Event will not be considered a breach of these Terms and Conditions.
2. BETTING ACCOUNT RULES
For general trading rules, please refer to Section 3.
2.1. WITHHELD AMOUNT
When a Member places an order, Sporttrade will allocate an amount of funds in the Member's Account to that order ("Withheld Amount"). The Withheld Amount may not always be the “Cost” of the order, depending on the Member’s other orders or trades on the Outcome, or related Outcomes in the Market. Members must have enough available funds in their Account to cover the Withheld Amount before the order will be accepted.
The Withheld Amount may not be available for use by the Member in relation to any other order.
Members may visit the ‘Activity Ledger’ under ‘Account’ to see the Withheld amount resulting from an order request, order cancellation, or order execution.
A Member will not be permitted to place an order if they do not have the available balance in their Account to cover the Withheld Amount for that order.
Where the settlement of an Outcome results in a loss to you, the cash sum lost will be debited from the Withheld Amount from any executions made in that Outcome at the time of their occurrence.
Sporttrade at its sole discretion reserves the right to cancel any order, or backout any trade and the client does not hold sufficient balance to cover required Withheld Amounts.
2.2. OUTCOME PERIOD
Between the time of the listing of an Outcome, and that listed Outcome’s subsequent settlement, aside from the time trading is halted on said Outcome, Members are free to place orders on that Outcome. Members may receive executions on submitted orders. Those executions create a “Net Position”, also known as an “Open Position” for the Member on the Outcome. A “Net Position” has two components; a Cost and a Potential Profit. Sporttrade may elect to display the Potential Profit of an Open Position to include potential Commission. A Member may view her Net Position on a listed Outcome by tapping on the Outcome anywhere on the mobile app. As a Member receives executions resulting from submitting orders on a listed Outcome, the Member’s Net Position on said listed Outcome may change to reflect the current position of the Member. Sporttrade utilizes a “weighted average average price” method to show a Member her Net Position. For example, if a Member buys 1 Share of “Bengals To Win” at $44, her Net Position shall be as follows:
Bengals to Win
If a Member buys another 1 Share of Bengals To Win at $36, her Net Position shall be as follows:
Bengals to Win
A Member may elect to de-risk an existing Open Position on a listed Outcome by placing an order to sell Shares against a Long Position, or buy Shares against a Short Position. When a Member receives an execution that reduces a current Net Position, the Member may incur a profit or a loss. If the Member incurs a profit, the Member may have a percentage of that profit withheld as “potential commission”. If the Member incurs a profit, Sporttrade may withhold some or all of that profit as “restricted profits”, which will be released to the customer upon the settlement of the Outcome. Sporttrade may release “restricted profits” on an Outcome back to a Member if that Member incurs a loss from closing some or all of an Open Position. Members may view a chronological list of each time they incur a commission, or profits are restricted, or released, under the ‘Activity Ledger’ section, which can be found under ‘Account’.
You are able to access your activity online through our mobile app under “Activity Ledger”.
You should notify us immediately if your Activity Ledger is inaccurate or if you have any queries concerning the contents. If an Activity Ledger contains an error or is otherwise inaccurate, that error will not affect the validity of the relevant action.
We strongly recommend that you keep your own records of your trading activity including details of the times, dates, size, Outcome and all other relevant details of your orders and trades.
Sporttrade will provide an Account statement with Account details to the Member on written demand for the 6 months prior to the request. To obtain this, you should contact customer experience by in one of the following ways; On twitter at @SporttradeHelp On the app using the live chat feature Over email via [email protected]
2.4. TRADE BACKOUTS
Members understand that Sporttrade has no responsibility to backout any trade that occurs from an order they placed and that all executions are final. Members can use tools like deposit limits or spending limits to limit the possibility of user error during order submission. Should Members submit an erroneous order and receive an execution, they should consider contacting Sporttrade customer experience, who may be able to help them close their resulting Open Position. While the Member may incur a loss from closing their Open Position, such an action will prevent the Member from incurring a loss equal to the Total Cost of the Open Position.
In the event that Sporttrade does backout a trade, Members can expect to see an “Equal and Offset” execution that effectively reverses the original execution. If Sporttrade is backing out an execution that incurred a Commission, the Member will be refunded the Commission. Members can see any refunded Commission by visiting ‘Account’ → ‘Activity Ledger’
3. GENERAL TRADING RULES
The submission, cancellation, and execution of any orders are also subject to our House Rules. Members should ensure they have read and understood the House Rules in relation to a particular sport, Event, Market, or Outcome before placing an order. 3.1. PLATFORM HOURS
The Sporttrade Platform shall be open between the hours of 7:00:00am EDT and 10:00pm EDT (“Platform hours”) with the exception of when a game runs over this time frame. Platform hours may vary if live Events on which Sporttrade has listed Outcomes are still occurring.
Orders will only be accepted during Platform hours. These Platform hours are subject to change and may vary. Before placing an order, you should ensure that you are familiar with the Platform hours as these restrictions will impact your ability to place orders in an attempt to close any Open Position. This information is whenever practicable provided on App. Should you have any queries regarding the Platform hours you should contact us for information or clarification before you place an order.
Orders can only be canceled by Members during Platform hours.
During the time when the Platform is closed, Sporttrade will clearly display that the Platform is closed, and the expected opening time of the Platform.
3.2. BETTING MARKET PRICES (GENERAL)
When you place an order, you understand that the prices you see are not guaranteed to be available at that exact time. The prices you see are indicative only and due to technological limitations (for example, internet data transfer protocols) may not be the most up-to-date.
The minimum size of an order that can be submitted by a Member is a risk of $0.10.
The maximum size of any one order than can be submitted by a Member is a risk of $200,000.00. A member may submit multiple orders.
An execution will only occur after your order has been accepted and then subsequently fully or partially executed. All executions are made against Sporttrade.
Every execution that a Member receives will have a unique ID. Members may view their executions under ‘Account’ → ‘Trades’.
An execution is not guaranteed to occur after it’s been accepted. Sporttrade does not currently offer “exchange wagering” per the regulatory definition in Colorado, which means any part of your order that isn’t immediately executed will be canceled, and any potentially withheld funds will be returned to your balance.
3.3. ACCEPTING AND EXECUTION OF ORDERS
Sporttrade’s Platform is based on a “Price-Time” matching logic. The Platform places any open orders on the orderbook, sorted in descending order of marketable price. Members can place bids; instructions to buy an amount of Shares at a fixed price per Share or offers; instructions to sell an amount of Shares at a fixed price per Share. Members may not place open orders. Only the Platform may place and cancel open orders.
When the platform accepts an order from a Member, the platform will try and execute the order at the best available price.
If the price of a Member’s bid (instruction to buy) is not greater than or equal to the lowest available offer price available for the listed Outcome, the Member’s order will not be immediately executed, and will be canceled.
If the price of a Member’s offer (instruction to sell) is not less than or equal to the highest available bid price available for the listed Outcome, the Member’s order will not be immediately executed, and will be canceled.
The Platform may institute a “Bet Delay” at times, which means Members orders will incur a delay before the Platform attempts to execute Members’ orders.
All orders placed from a Member’s Account are considered to be placed and received in Colorado and Sporttrade is regulated by the Colorado Division of Gaming Enforcement.
Sporttrade does not represent or warrant that any orders placed by a Member on their Account or the execution of any orders on an Account by Sporttrade complies with the legal requirements of any state or country other than those in which it is currently recognized by the respective state's regulatory body as an accredited gaming provider. Members must satisfy themselves (and assume full responsibility for) the legality of:
applying to Sporttrade for an Account;
remitting funds by payment card or other permitted deposit method to an Account;
placing orders with Sporttrade;
receiving executions from Sporttrade; and
receiving winnings from Sporttrade.
Sporttrade reserves the right at any time to reject any order or part of an order without providing a reason or advance notification. The circumstances in which we may reject a Member's order include but are not limited to:
A Member is or may be less than 21 years of age;
Member is or may be betting on behalf of a person who is less than 21 years of age;
Member is or may be in breach of these Terms and Conditions;
Member is or may be in breach of any applicable law; or
Member's order would present an unacceptable liability risk to our business. Whether there is an unacceptable liability risk to us for the purpose of this Rule is at Sporttrade's discretion.
Sporttrade reserves the right to close and/or impose limits on a Member's Account (including limits on any Sporttrade products that a Member may wish to bet on) and refund the balance of their Account, without providing reasons. In this event, we will honor any executions on the Outcome made pursuant to the Account, unless the Member's Account has been used for any fraudulent transaction or purpose, in which case any such executions on the Outcome will be voided.
When an Event is canceled, such as a postponement or rainout,, all related Outcomes will be voided. When an Outcome is voided, all trades made in that Outcome are canceled. For more information on Outcome voiding, please refer to the House Rules section.
When an Event is postponed and does not take place within forty-eight (48) hours of the original scheduled time and date, Sporttrade reserves the right to void all outcomes except for those which have been unconditionally determined.
When an Event is abandoned before a final result is established, all Outcomes listed under the Event will be voided except for those that have been unconditionally determined.
Sporttrade makes every effort to ensure that no errors are made in prices displayed on the Sporttrade App or prices of executed trades. However, we reserve the right to correct any obvious errors and to backout any trades where such has occurred.
If the Service erroneously allows a Member to place an order and receive an execution after the relevant Event has been completed, the Member agrees that Sporttrade may retrospectively backout the trade and demand repayment where any winnings from the backed-out execution have been withdrawn from the Member's Account. In such an instance, a Member agrees that Sporttrade is entitled to issue the Member with an invoice in respect of the amount of the winnings paid in error, and that the invoice shall be evidence that the amount is immediately due and payable. Sporttrade may request documents from a Member to assist in investigating such errors.
If a Member has been paid winnings in error, the Member agrees that Sporttrade will notify the Member about the winnings paid in error. When the error is rectified and results in a Member’s available balance being negative (due to Member re-investing or withdrawing winnings paid in error), the amount required to return the available balance to zero is immediately due and payable, subject to Rule 3.9.4 below.
Sporttrade reserves the right to backout, or amend the price of an execution made by a Member at any time without notice where a Member has received funds in error and used those funds to place an order or orders on another listed Outcome. In circumstances where a Member has invested an amount of money in an order or orders that is, in the aggregate, greater than the total amount of money owing to Sporttrade, Sporttrade will contact the Member to mutually agree on the recalculation value and/or execution backout.
3.5. CASH OUT AKA “CLOSING A POSITION”
Sporttrade may offer customers the opportunity to place orders to close their position on any listed Outcome on the platform.
If a customer exits an existing position on a listed Outcome, previously withheld funds may be released back to the customer depending on the customer’s risk on the underlying Market the Outcome is listed in. All orders, trades, and order cancels which occur when an order isn’t immediately executed and thus canceled, and resulting changes in a customer’s available funds are visible on the Sporttrade app under Account → Activity Ledger.
All trades, regardless of whether they are “risk on” or “risk off” on a listed Outcome for a customer, are subject to all rules, regulations, limitations, and restrictions applicable to wagering, and must be executed within the State of Colorado.
A customer may not be able to immediately exit a position if there isn’t a current bid or offer available on that listed Outcome.
Sporttrade may, at its discretion, allow customer access to some, or all of her realized profits from trading on an Outcome which has not yet settled. The amount of profits derived from trading in and out of positions on unsettled Outcomes not available for trading will be referred to as “restricted profits”.
Customers will have full visibility into any funds which are being withheld as “restricted profits” on their Activity Ledger under their Account and in the breakdown of their Portfolio Balance.
In the event of an Event cancellation, rescheduling, or rain-out, Sporttrade reserves the right to void any affected Outcomes. When Sporttrade voids an Outcome, all trades made on the Outcome will be canceled, all commissions will be returned to customers, and any profits made available for use by the customer will be returned.
Sporttrade reserves the right to temporarily restrict all trading on Accounts that abusing Sporttrade's Service.
All orders are considered to be submitted and received in a state where sports betting is legal and Sporttrade is regulated by the relevant gaming regulatory body in that state. Sporttrade does not represent or warrant that any Request made by you on your Account or the acceptance by Sporttrade of a Request complies with the legal requirements of any state or country other than those in which it is currently recognized by the respective state's regulatory body as an accredited gaming provider. You must satisfy yourself of (and assume full responsibility for) the legality of making such a request.
3.6. GENERAL AND HOUSE RULES POLICY
Please refer to the House Rules section of our website for details on how individual Outcomes will be settled for various scenarios. These House Rules are hereby incorporated into these Terms and Conditions by reference. In the event that there is any conflict or inconsistency between the House Rules and these Terms and Conditions, these Terms and Conditions shall take precedence.
4. RESPONSIBLE GAMBLING STATEMENT
For the majority of people, gambling is an enjoyable leisure and entertainment activity. But for some, gambling can have negative impacts. As a result, we have developed this policy to communicate our approach to responsible gambling and minimizing harm to consumers who may be vulnerable to problem gambling. Our betting operations are governed by this policy.
4.1. DEFINITION OF RESPONSIBLE GAMBLING
"Responsible Gambling" is a broad concept that aims to ensure gambling is conducted in a manner whereby the potential for harm associated with problem gambling is minimized. It respects the responsibility of individuals for their own actions, but also acknowledges a responsibility on the part of service providers. Responsible Gambling has regard to the context in which gambling occurs, the inducements made to gamble, the way the gambling service operates and the integrity of the gambling operator.
The aim is to enable persons to make informed decisions about their participation in gambling and, if harm has occurred, to access gambling help services.
4.2. DEFINITION OF PROBLEM GAMBLING
Problem gambling occurs when a person loses control over their gambling, particularly the scope and frequency of gambling, the amount of money gambled, and the amount of time devoted to gambling. The negative consequences of problem gambling may include:
Suffering excessive financial losses relative to the gambler's means (including unpaid household bills, credit card debts or loans);
Suffering adverse personal effects on the Member (such as anxiety, depression or stress) and/or their family;
Suffering adverse effects on employment and work performance (including missing work or having trouble concentrating at work);
Losing the ability to maintain a healthy and balanced lifestyle due to spending an excessive amount of time gambling;
Regretting the amount of time lost or wasted due to gambling; and/or
Other costs which are absorbed by the community.
4.3. RESPONSIBLE GAMBLING POLICY
Sporttrade aims to consistently care for our Members and promote responsible gambling practices. For the vast majority of people, the attraction to test one's judgment or luck does not create problems. Gambling generally should be a pleasurable form of entertainment. The aim is to achieve a balanced approach in the provision of wagering services, taking account of the interests of our customers, the community at large and us as the wagering operator. We are committed to sharing responsibility, with governments and communities, for helping problem gamblers to identify their problem and seek assistance. Some of the ways that we do this are:
Requiring our customer experience staff to complete accredited Responsible Gambling courses;
Allowing our Members to set a deposit limit;
Allowing our Members to self-exclude (either temporarily or permanently) from wagering with us. Further information regarding the CDOG self-exclusion program can be found at: https://www.problemgamblingcoalitioncolorado.org/self-exclusion ;
Providing Responsible Gambling information and messages to our Members;
Referring our Members who are at risk of problem gambling to gambling-related support services.
2. Sporttrade aims to achieve the following outcomes:
Minimizing the extent of gambling related harm to individuals and the broader community;
Enabling Members to make informed decisions about their gambling practices;
Enabling Members adversely affected by gambling to have access to timely and appropriate assistance and information;
Promoting a shared understanding between individuals, communities, the gambling industry and government of responsible gambling practices; and
Ensuring the gambling industry provides safe and supportive environments for the delivery of gambling products and services.
4.4. RESPONSIBILITY TO MINORS
As a responsible operator, Sporttrade are committed to maintaining our reputation by actively taking steps to exclude minors from placing an order using our Service. Our services are designed to appeal to, and be used by persons who are at least twenty-one (21) years old. As an additional safeguard, we encourage filtering options to be enabled by parents or guardians to prohibit underage persons from entering online sports betting software, as the minimum legal age to gamble is 21 years. The comprehensive list of filtering options available for download can be accessed through these sites:
4.5. COUNSELING FOR PROBLEM GAMBLERS
If you or someone you know has a problem gambling and needs immediate assistance, you can call 1-800-GAMBLER or visit the https://sbg.colorado.gov/problem-gambling-resources for more information on The Problem Gambling Coalition of Colorado.
4.6. "COOL OFF" OR SELF-EXCLUSION
If you feel that you are losing control of your play and would like help in restricting your access to our Service, we offer you the option to take a break or to self-exclude from wagering with us. Take a break options range from 3 days to 365 days. Self-exclusion options range from 1 year to permanent. If you would like to self-exclude, you will need to complete and return our Self-Exclusion Form. If you require assistance, please contact our Customer Experience team via one of the following methods: On Twitter at @SporttradeHelp On the app using the live chat feature Over email via support@getsporttrade Please note: Sporttrade may opt to close your Account permanently rather than self-exclude you.
We also encourage you to consider seeking self-exclusion from any other betting agencies that you may have accounts with. We reserve the right to share self-exclusion lists with the state regulatory body in which your account was registered and/or other gaming providers in that state. For example: if you self-exclude your Sporttrade Account that was registered in Colorado, you will be self-excluded from all other licensed Colorado gambling sites. If you self-exclude from another Colorado licensed gambling site, you will be self-excluded from Sporttrade. If a patron is self excluded or on a cool off period in any of the jurisdictions in which Sporttrade operates, they will not be able to use the application in all states where Sporttrade is live.
Sporttrade is best enjoyed responsibly. We encourage you to set responsible gambling limits before using our Service. As part of our responsibility towards responsible gambling, Sporttrade has a pre-commitment limit mechanism, which allows you to set (a) the maximum deposit amount that you can deposit with us; (b) the maximum spend amount that you are willing to put at risk with us; and (c) the maximum amount of time (measured hourly from log-in to log off) you can play on the Service. Our (a) deposit and (b) spend limits can be specified on either a daily, weekly, or monthly basis. Our (c) time limits can be specified on a daily basis. To set your pre-commitment limit, visit the ‘Customer Protection’ section of our App which can be found under ‘Account’.
Please note that the following minimum waiting periods apply:
For a daily limit increase, the player has to wait until the next day and reconfirm the update before the new limit is enforced.
For a weekly limit increase, the player has to wait until the start of the next week AND reconfirm the update before the new limit is enforced.
For a monthly limit increase, the player has to wait until the start of the next month AND reconfirm the update before the new limit is enforced.
4.8 MYTHS AND TIPS
We believe gambling should be done for fun and entertainment. But some customers who engage in recreational gambling do not believe they could become addicted, and sometimes hold onto false beliefs or myths about problem gambling that can lead to denial and other problems. Some of the more common myths are listed below.
Myth: A compulsive gambler gambles every day.
Fact: A problem gambler may gamble frequently or infrequently. If a person’s gambling is causing psychological, financial, emotional, marital, legal or other consequences for themselves and the people around them, then they could be displaying signs of a gambling problem.
Myth: A compulsive gambler will bet on anything and gamble at any opportunity on any form of gambling.
Fact: Most problem gamblers have a favorite form of gambling that causes them problems and are not likely to be tempted by betting on other things. For example, a gambler who makes weekly trips to the racetrack may not be tempted by lottery tickets or slot machines. Some compulsive gamblers also engage in secondary forms of gambling, but these are not usually as problematic.
Myth: Gambling only becomes a problem when you lose every penny. Compulsive gambling is just a financial problem.
Fact: How much money you win or lose does not determine if you have a gambling addiction. Compulsive gamblers may win big and then lose all their earnings the next day, or they may only bet a certain amount each time. Typically, those with gambling problems will incur enough debt that the financial consequences of their behavior begins impacting their lives, but that is not always the case.
Myth: It’s not possible to become addicted to something like gambling.
Fact: Certain activities, such as gambling, can be just as addictive as drinking or doing drugs. Gambling may produce a euphoria that encourages a compulsive gambler to keep repeating the behavior to achieve that effect. As with drugs and alcohol, a gambling addict may develop a tolerance for gambling and take bigger and bigger risks to achieve that euphoria. A compulsive gambler will give in to a craving for gambling by doing it more often, regardless of the negative consequences. As with any other addictions and compulsive behavior, pathological gamblers may also be in denial about their behavior, and may not believe they have a problem at all.
Myth: Only irresponsible people become addicted to gambling.
Fact: Many problem gamblers hold, or have held, responsible community positions. In addition, even people with a long history of responsible behavior are vulnerable to developing a gambling problem. It is common for people to believe that those suffering from addictions are weak-willed and irresponsible. But anybody can become addicted to gambling, no matter how responsible they are.
Myth: Compulsive gambling isn’t really a problem if the gambler can afford it.
Fact: Problems caused by excessive gambling are not just financial. If a person’s gambling is interfering with their ability to act in accordance with their values, then there is a problem. For example, too much time spent on gambling means less time to spend with family, friends and others. It can lead to relationship breakdown and loss of important friendships.
Myth: It’s easy to recognize a compulsive gambler.
Fact: Problem gambling has been called the hidden addiction. It is very easy to hide as it has few recognizable symptoms, unlike alcohol and drug use. Many problem gamblers themselves do not recognize they have a gambling problem. Problem gamblers often engage in self-denial.
Myth: If I keep gambling, my luck will change and I'll win back the money I've lost.
Fact: Each time you place a bet, the outcome is completely independent of the previous bet. This means that the odds are no more in your favor on the tenth bet than they were on the first bet. Risking more, or playing longer, will not improve your chances of winning.
Myth: I have a feeling that today is my lucky day. I just know I’m going to win.
Fact: Hoping, wishing, or even needing to win money has absolutely no influence on the outcome of a game of chance.
If any of these myths are realities for you or a loved one, it may be necessary to consider seeking treatment for a gambling addiction. If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER.
4.9 OUR RESPONSIBILITY
While we will use our reasonable measures to enforce our Responsible Gambling policies, we do not accept any responsibility or liability if a Member nevertheless continues gambling and/or seeks to use the Service with the intention of deliberately avoiding our Responsible Gambling measures in place and/or we are unable to enforce our Responsible Gambling measures for reasons outside of our reasonable control.