Contest Rules

GENERAL CONTEST RULES FOR BETA CONTESTS

1. Scope of General Beta Contest Rules

The following General Contest Rules apply to all beta contests offered by Tradesports. In addition to these General Contest Rules, all contests are also subject to the relevant Contest Specific Rules.

By entering any contest you agree to these General Contest Rules (which apply to all contests) and the Contest Specific Rules (which apply only to the contest you are entering). The Contest Specific Rules can be seen on the Rules tab on the contest entry window. We strongly recommend you read the Contest Specific Rules before entering any contest.

2. Modification of General Contest Rules

Tradesports may revise or update these General Contest Rules at its sole discretion at any time. You agree that should you object to these General Contest Rules or any subsequent modification, you cannot enter any contests offered by Tradesports.

3. Contest Entry & Participation

Contests are entered only on the Tradesports website (including mobile website). Tradesports cannot accept any contest entries by email or telephone call.

Tradesports reserves the right to prohibit an account holder from entering any contest at any time for any reason. Tradesports also reserves the right to disqualify any entrant of any contest at any time.

4. Number of Entrants

a. Minimum Number of Entrants

In some cases, a minimum number of contest entries are required before a contest can proceed. If a contest does not receive the minimum number of entries before the advertised Contest Start Time, Tradesports reserves the right to cancel the contest.

The minimum number of required entries for a contest will be displayed on the Tradesports website. Tradesports reserves the right to modify the minimum number of required entrants at any time for any reason.

b. Maximum Number of Entrants

In some cases a contest may have a maximum number of allowed entries. Once the contest has received the maximum number of entries no further entries will be accepted.

The maximum number of allowed entries for a contest will be displayed on the Tradesports website. Tradesports reserves the right to modify the maximum number of required entries at any time for any reason.

5. Virtual Currency Allocation

At the start of each contest, all contestants will receive an identical allocation of virtual funds. These virtual funds are used to trade (buy and sell) the propositions  listed for that particular contest. Any profits generated from trading your virtual funds will be added (credited) to your balance of virtual funds for that contest. Any losses sustained from trading your virtual funds will be subtracted (debited) from your balance of virtual funds for that contest.

Virtual funds can only be used in the contest in which they were allocated; they cannot be transferred for use in another contest. The amount of virtual funds each contestant will be allocated for any contest will be displayed on the Tradesports website in advance of contest entries being accepted. Tradesports reserves the right to modify the allocation of virtual funds for any contest at any time for any reason.

6. Contest Prizes

Tradesports may offer prizes to contestants. The allocation and value of any prizes offered by Tradesports are NOT determined by the number of contestants participating in the contest.

Details of the prizes (including allocation and value) for a contest will be displayed on the Tradesports website in advance of contest entries being accepted. Tradesports reserves the right to modify the allocation and value of any prizes to be offered in a contest prior to the Contest Start Time (as displayed on the Tradesports website).

7. Contest Settlement

A contest will be settled as soon as possible following the conclusion of the underlying real-world event. As part of the contest settlement process, Tradesports will complete the following actions:

  • All propositions  listed for the contest will be closed and expired in accordance with contest specific rules;
  • The final placings of contest participants will be determined and contest winner declared in accordance with the Contest Specific Rules; and
  • Tradesports will contact any prize winners to arrange payment of their prizes.

Tradesports reserves the right to decide how any contest will be settled and how any individual propositions listed for a contest will be expired. 

If any errors in contest settlement or contest stock expiry occur, Tradesports reserves the right to correct these errors and make any necessary adjustments to Tradesports contest account balances (virtual currency). Tradesports will not be responsible or liable for any delays in contest settlement.

Should any changes be made to the outcome of an underlying real-world event after the relevant result or outcome is declared, Tradesports reserves the right to decide if the original contest settlement will stand or if adjustments to the original contest settlement will be made (including but not limited to the re-settlement of the contest).

8. Payment of Prizes

Tradesports will contact prize winners by email following the settlement of the contest. Arrangements will then be made to pay out the contest prize. Please be aware that this may require the contest winner to confirm his or her identity and postal address.

Tradesports reserves the right to delay the payment of prizes for any reason. This includes (but is not limited to) the investigation or review of contest conduct and contest activity. Tradesports will not be liable or responsible for any loss or damage resulting from any delay in the payment of prizes. 

Tradesports also reserves the right to withhold or void the payment of prizes for any reason. This includes (but is not limited to) suspicion that prizes have been won unfairly or by taking advantage of technical issues with the website. 

Tradesports will not be liable or responsible for any loss or damage resulting from withholding or voiding the payment of prizes. Should any winning contestant be disqualified from a contest after a prize has been allocated, Tradesports will reallocate the prize to the next placed contestant(s).

If any errors in contest settlement or prize allocation occur, Tradesports reserves the right to correct these errors as they see fit.

9. Notification of Winners

Prizewinners be notified by email within two business days of contest settlement.  .

10. Contest Cancellation/Suspension

a. Contest Suspension

Tradesports reserves the right to suspend any contest at any time for any reason. When a contest is suspended, all trading activity by contestants will also be suspended. Tradesports will not be liable or responsible for any loss or damage incurred by the suspension of a contest.

b. Contest Cancellation

Tradesports reserves the right to cancel any contest at any time for any reason. Tradesports will not be liable or responsible for any loss or damage incurred by the cancellation of a contest. Contests would typically only be cancelled if Tradesports believes technical issues with the website or circumstances influencing the underlying event would have a significantly negative impact on the integrity of the contest.

11. Contest Operation & Fair Play

All contests must be played using the trading interface provided by Tradesports on the Tradesports website. You are prohibited from participating in any Tradesports contest using automated or programmed order entry and cancellation.

Collusion between players with the intended outcome of influencing the outcome of any contest is strictly forbidden regardless of the outcome or effect of this collusion. You are also prohibited from attempting to modify, decompile, reverse-engineer or disassemble Tradesports software in any way. If Tradesports determines, in its sole discretion, that you have engaged, or attempted to engage in such activities, or to otherwise commit fraud with regard to the Tradesports services, then, in such an event, Tradesports reserves the right to suspend or close your account, institute civil or criminal proceedings against you and report you to the relevant regulatory authorities.

12. The Automated Market Maker

An Automated Market Maker may be employed to provide trading liquidity to any contest. This will be used at the sole discretion of Tradesports and may be switched on or off at any time during a contest. If the Automated Market Maker is turned on it will be displayed on contest leaderboards. It is not eligible for any contest prizes, however.