Sports Contract Rules
How do you handle ties?
How do you handle ties?
We offer two different product types depending on whether the sport commonly has ties:ATC (Athletic Tie Contract) for sports with ties. For sports where ties are expected (e.g., EPL, MLS, UCL), we use the ATC product which offers three separate instruments: Team A wins, Team B wins, or Draw. Each outcome is a distinct tradable instrument.AEC (Athletic Event Contract) for sports without ties. For sports where ties are not expected (e.g., NBA, NFL, CBB, CFB, NHL), we use the AEC product which is a binary outcome (Team A wins or Team B wins). If an unexpected tie occurs, the instrument resolves to SIDE_DUAL, with the settlement price set at $0.50 per contract.
How do you handle postponements and reschedules?
How do you handle postponements and reschedules?
When a sporting event is postponed or rescheduled, the instrument remains open until the event is completed. We do not cancel or resolve instruments prematurely due to the postponement of the underlying event.Example: An NFL game scheduled for Sunday is moved to Monday night of the same week. The instrument remains open and active, with the Last Trade Time adjusted to reflect the new kickoff time.
How do you handle cancellations with no make-up game?
How do you handle cancellations with no make-up game?
If a sporting event is canceled entirely with no make-up game scheduled, the instrument resolves to SIDE_DUAL, with the settlement price set at $0.50 per contract.
How do you handle withdrawal/walkover/forfeit/removal?
How do you handle withdrawal/walkover/forfeit/removal?
In cases where a participant withdraws, forfeits, is removed, or the event is decided by walkover before completion, the instrument resolves in favor of the remaining/non-forfeiting participant: the winning side resolves to $1.00 (SIDE_BUY for longs, SIDE_SELL for shorts), while the losing side resolves to $0.00.Specific scenarios:
- Withdrawal: If Team A withdraws before the event, Team B’s instrument resolves to $1.00
- Forfeit: If Team A forfeits during or before the event, Team B’s instrument resolves to $1.00
- Walkover: If the event is awarded by walkover, the receiving team’s instrument resolves to $1.00
- Removal/Disqualification: If Team A is removed or disqualified, Team B’s instrument resolves to $1.00
- For ATC (3-way) products: If a team withdraws/forfeits, their specific instrument resolves to $0.00, while the opposing team’s win instrument resolves to $1.00. The Draw instrument also resolves to $0.00 since the match did not occur.