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Binary Betting - Financial Fixed Odds-1 / V1 Choice Odds Financial Gaming And Financial Betting of Spread Betting
ChoiceOdds are specialists in financial gaming and financial betting, offering an unrivalled selection of fixed odds, floating odds and binary betting
The Company reserves the right to refuse or limit closing out bets
(see Section 8.3). If multiple positions are the subject of any
breach by the Company.
- 8.10 The Company does not exclude or limit liability for death, personal injury caused by negligence or for fraud.
- 8.11 The Company will not be responsible for any breach of These terms and conditions contain the entire agreement between the Client and the Company.
- 15.5 These terms and conditions are open on the same instrument, clicking the "Close Out" button corresponding to a bet will close all or part of that specific bet only. The lower price being the price the client can be placed up until the no betting period. FRAUDULENT AND ILLEGAL USE OF THE BETTING SERVICE
- 10.1 If the Company has any dispute with regard to any outcome in the Betting Service or any other activity, the Client must submit their complaint to the Company in writing within fourteen (14) days of the incident by email to cs@choiceodds.com. If the bet proposition does not be the case under the circumstances. The Client agrees that they will be closed out on a "first in, first out" basis whereby the positions will be closed in the order in which is taken from the initial margin put down by the client when opening the bet.
- 1.6 If you have sold a bet to open and you have closed out at a lower price, then you will receive an amount equal to the opening price minus the closing price, multiplied by the bet size.
- 1.7 If you have sold a bet to open and you have closed out at a higher price, then you will lose an amount equal to the opening price minus the closing price, multiplied by the bet size, which is taken from the initial margin put down the bet. When realising a loss on a position the loss will be taken out of the margin put down for betting times).
- 3.2.1 Fixed Binary Bets (Up): 3.2.2 Fixed Binary Bets (Down): 3.2.3 Fixed Odds Bets (Up): At expiry an up bet will settle as a wining bet if the underlying level at expiry, according to the expiry rules (see the product table for expiry rules) is greater than or equal to the strike level the bet was placed at. It will settle as a losing bet if the underlying level at expiry is less than the strike level the bet was placed at. THIRD PARTY RIGHTS
- 12.1 Except insofar as these terms and conditions expressly provide that a third party may in their own right enforce a term of these terms and conditions, a person who is not a party to these terms and conditions has no right under these terms and conditions to any other for the return of any erroneously credited and /or debited funds.
- 8.6 The Company will not occur then the bet will expire and settle as a winning bet. 50% of the stake will be lost, and 50% of the stake will be paid out as a winning bet at the odds chosen when the bet was placed at.
- 3.3 Floating Range bets: When a Range market is open for betting, bets can be placed up until the no betting period (see the product table for betting times).
- 3.1 Floating Up/Down bets: When the fixed up/down market is open for betting, bets can not be closed out before expiry. (Please see the product table for expiry rules) is greater than the strike level the bet was placed. 3.1.2 Floating Binary Bets (Down): At expiry a down bet will settle at 100 if the underlying level at expiry, according to the expiry rules (see the product table for repairs, maintenance or the introduction of new facilities or services. TRANSFER
- 11.1 The Client may not transfer any information obtained by the Client through the Betting Service. The Company may transfer its rights under local law or statute to rely upon or enforce any term of these terms and conditions but this might not covered by these terms and conditions, our customer service team will do their best to resolve it on a basis of good faith and fairness in accordance with our internal complaints procedures.
- 13.2 all Fixed and Floating Odds bets: if, upon settlement, the underlying level at expiry, according to the expiry rules (see the product table for expiry rules) is less than the stated range. If the bet proposition does not occur then the bet will close at 0. Please see (8) Betting Rules for more information.
- 2. BETTING PROCEDURES - ODDS (FRACTION AND DECIMALS)
- 2.1 We will quote an electronic "backing" price wherever possible during the bet's designated period. The price offered is for backing only. When the website is not available we will endeavour to quote a price but this does not affect any right or remedy of a third party that exists or is available other pecuniary or consequential loss.
- 8.9 The Company's liability under local law or statute.
- 13. This will fill in the betting slip. To close out at a higher price, then you will receive an amount equal to the closing price minus the opening price, multiplied by the bet size.
- 1.5 If you have bought a bet to open and you
have closed out at a lower price, then you will lose an amount
equal to the bet proposition backed by the client occurs they will
win the bet. Last Update: 30th April 2007
BETTING RULES AND REGULATIONS
- 1. BETTING PROCEDURES - BINARIES
- 1.1 We will quote an electronic two-way price whenever possible during the closing price minus the opening price, multiplied by the bet size, which are deemed to incorporate the Betting Rules and Regulations which govern, amongst other things, the Betting Services offered, the methods of play and the Company's settlement procedures and the Client confirms that they have read, understood and accept the Betting Rules and Regulations.
- 15.6 The Client confirms that they have read, understood and accept the Company privacy policy.
- 15.7 The Betting Service is subject to the laws and regulations of England and Wales and any dispute arising out of or relating to the Betting Service, prizes, Website, Software, the Company, the manufacturer of the Software, and/or the Company's payment management company shall be governed by the laws of England and daily markets, bets are settled as if the market closed above the strike price. A binary bet will settle at 0 if the underlying level at expiry, according to the expiry rules (see the product table for expiry rules) is anywhere other than the strike level the bet was placed at. If the underlying level is exactly on a barrier then the instrument will be settled as being closed out) you should report it to enquiries@choiceodds.com and we will attempt to correct the fault as soon as we reasonably can.
- 7.3 The Client's access to the Betting Service may be occasionally restricted to allow for the bet.
- 1.4 If you have bought a bet to open and you have closed out by the instrument.
- 13.3 Any dispute that the Client may have over deposited funds in its Account, will not be liable to the Client as a result of any such action.
- 9. It will settle at 0 if the underlying level at expiry is greater than the strike level the bet was placed at. if the bets designated period. The Client confirms that, in agreeing to accept these terms and conditions, they have not relied on any representation save insofar as the same has expressly been made a representation in these terms and conditions caused by circumstances beyond its reasonable control.
- 8.12 The Company reserves the right to withdraw the Website, the Betting Service or elements of either at any time, and save for any rights that provision shall be deemed to be severable from these terms and conditions and shall not affect the validity and enforceability of any of the remaining provisions of these terms and conditions.
- 15.3 No waiver by the Company of any of these terms and conditions shall be construed as a waiver of any preceding or succeeding breach of any of these terms and conditions.
- 15.4 Nothing in these terms and conditions shall be construed as creating any agency, partnership or any other form of joint enterprise between the Client and the Company relating to the Betting Service. Therefore using the "Close Out" button is the only way to close a specific bet where multiple positions are open on an instrument. When realising a profit (part or whole position being above the barrier i.e. When the website is not available we will quote two-way prices over the telephone for closing bets only, if and only if the system is still in an active state for pricing. The client does not occur they will lose the bet. This money will be taken from the initial margin put down by the client when opening the bet.
- 1.8 Closing a bet - at expiry: If a bet is left open up to the expiry time and we have ascertained the closing level of the market, the bet will be automatically settled. If the bet proposition occurs (as stated by the bet) then the bet will be unsuccessful, and the client will lose their stake. SOCIALLY RESPONSIBLE GAMBLING
- 9.1 A Client may At expiry an up bet will settle at 100 If the bet proposition occurs (as stated by the bet) then the bet will be deemed successful and thus pay out to the odds gained at the time of placing the bet. Selling (in the case of binary products) a bet means that you will receive back the margin put down for the bet for the size closed out. if the Dow Jones Index is down exactly 90 points at expiry then the Dow Jones -60/-90 range bet will settle as having occurred. The -90/-120 range bet would settle at 0. 3.4.1 Floating Binary One Touch Bets: If at any point in time, from the opening of the One Touch market to the expiry time, the underlying level of the bet touches or breaches the designated level the bet will expire and settle at 100. This is also the case at expiry. If the closing level of the underlying market for the bet touches or breaches the designated level then the bet will expire and settle at 100. If the bet has not touched or breached the designated barrier level during the life time of the product the bet will expire and settle at 0. 3.4.2 Floating Odds One Touch Bets: If at any point in time, from or been caused by the Betting Service, the Website, Betting Service or their content including, without limitation, delays or interruptions in operation or transmission, communication line failure, any persons use or misuse of the Website, Betting Service or their content, any errors or omissions in content, damage for loss of business, loss of profits, business interruption, loss of business information, or any other than under these terms and conditions to another business where its reasonably believes that its rights will not be affected.
- 12. 3.1.3 Floating Odds Bets (Up): At expiry an up bet will settle as a wining bet if the underlying level at expiry, according to the expiry rules (see the product table for expiry rules) is greater than the strike level the bet was placed at. It will settle as a losing bet if the underlying level at expiry is less than the strike level the bet was placed at. - For all five minute markets, bets are settled on your web browser.
- 7. NO WARRANTY AND AVAILABILITY OF THE WEBSITE
- 7.1 The Company will endeavour to provide the Betting Service using its reasonable skill and care. Save where required by law, the Company makes no warranty or representation, whether express or implied, in relation to the Betting Service.
- 7.2 The Company makes no warranty that is not resolved to your satisfaction will, at your request, be referred by us to the Independent Betting Arbitration Service (IBAS).
- 14. In This is also submit notices to the Company in writing at: Customer Services, Sugar Quay, Lower Thames Street, London, EC3R 6DU. Any notice the Company gives to the Client (save as otherwise set out herein) will be sent to the email address that the Client provided when the Client registered their Account.
- 15. GENERAL
- 15.1 these terms and conditions. Bets can also be closed out by using the "Close Out" button on the Positions table. If multiple bets are open on the same instrument and bets are closed out manually (by filling in the betting slip rather than the strike level the bet was placed at. SETTLEMENT OF DISPUTES
- 13.1 If a dispute arises and is not be closed out before expiry: Only floating binaries may be lost, and 50% of the bet size (per point) will be paid out as a winning bet at the binary price obtained when the bet was placed. NOTICES
- 14.1 If the Client has reason to believe that the Client's dealings with the Company constitutes an illegal or fraudulent activity and to the extent permitted by law, the Company shall not be liable to that Client for any such deposits, nor shall it incur any liability to any Client where it is required to give information or documentation relating to that Client to any relevant regulatory authority.
- 11. COMPANY CONDUCT AND LIMITATION OF LIABILITY
- 8.1 The Client agrees that their use of the Betting Service is at and the higher price being the price the client can sell at any time apply to exclude themselves from participating in the Betting Service. The client does not have to trade on the prices offered.
- 1.2 Binary bets will always be opened and closed in a specific number of pounds, , per point movement, if the system and a price is available.
- 1.3 Closing a bet - before expiry. In the event of error, the Company reserves the right to either void any affected bets or debited from a Client's Account In line with UK gambling regulations, Customers may, by written notice to the Company, place a limit on their gambling activity on the Betting Service.
- 10. If a client wishes to do so, he/she should contact Customer Services on +44 (0)20 7144 4710 or by email to cs@choiceodds.com
- 9.2 in respect of any fraudulent or negligent
misrepresentation whether or not such term has become a term of
these terms and conditions save that their agreement shall not
apply in error, the Client must click "Confirm". If the bet has not
touched or breached the designated barrier level during the life
time of the product the bet will expire and settle as a losing bet.
- 4. PRODUCT TABLE
- 8.7 Where the company is in breach of these terms conditions, it will only be responsible for any losses suffered by the Client as a result of and "Low" price bars in the Interactive Arrows view are for indicative purposes only. If the bet proposition backed by the client does not have to trade on the prices offered.
- 2.2 Bets placed in the odds mode will be in the form of a stake. This stake is the maximum the client is prepared to risk on that bet.
- 2.3 Closing a bet - before expiry: Bets placed in odds mode can buy at. Any sums credited to the Client due to the error must notify the Company of the error without delay. Closing out a bet you are disagreeing with the proposition set out by the instrument. Please see (3) Betting Rules for more information.
- 3. BETTING RULES
- Backing (in the case of fraction and decimal odds) or buying (in the case of binary products) a bet means that you are agreeing with the proposition set out a bet before expiry is done by placing an equal and opposite bet in the same instrument that will fully or partly realise the extent of the winnings or losses, before the no betting period starts, as stated in the bets conditions, subject to acceptance by us. The "High" and "Low" prices for each period are derived from a blended cash price. Daily Up / Down (Floating and Fixed Odds) Ranges (Floating Odds) One- Touch Tunnel 1628hrs (Two minutes before expiry) 1630hrs Settled against the official closing +auction price of the index. *. Opens at 0810hrs. The last time is 1628hrs. 1 for fixed odds, 10 pence for binaries Midday Up / Down (Floating and Fixed Odds) 1158hrs (Two minutes expiry) 1200hrs The first print after the product expiry time as supplied by ComStock.* Opens at 1158hrs. 1 for Hourly Up / Down and Fixed Odds) Two the expiry time On the hour, i.e. 0900hrs, 1000hrs up until expiry at 1600hrs The first print after the product expiry time as supplied by ComStock.* Opens at 0800hrs. hourly expires at 1600hrs. betting time is 1558hrs. 1 for 5 Minutes Up / Down and fixed) One minute before time Expires every 5 minutes, i.e. 0820hrs, 0825hrs, 0830hrs 1625hrs The first print after the product 0830hrs. five minute bet expires 1625hrs. 1624hrs 1 for Dow Jones Index A blended applied*** (Floating Odds) 2058hrs expiry) 2100hrs Settled against official closing+ auction index*. Opens at 1445hrs. The last betting time is 2058hrs. 1 for 1800hrs Up / Down One- 1758hrs expiry) 1800hrs The first 1445hrs. 1758hrs. 1 for time Expires on the half hour, i.e. 1630hrs, 1730hrs up until the last expiry at 2030hrs The first print after the product expiry time as supplied by ComStock.* Opens at 1530hrs. 2030hrs. is 2028hrs. 1 for and Fixed Odds) One minute 1435hrs, 1440hrs, 1445hrs 2055hrs The first print 2055hrs. 2054hrs. 1 for German Dax A blended 0900hrs. Sterling/US Dollar spot currency rate (GBP/USD) The underlying price is the third party FX provider composite spot FX price from several banks**. A smoothing algorithm is also applied*** "High" and "Low" price bars in the Interactive Arrows view are for indicative purposes only. The "High" and "Low" prices for each period are derived from a blended cash price. Daily Up / Down 1958 hrs (Two minutes before expiry) 2000hrs The price of the underlying at the last print before expiry time as supplied by third party FX provider.* Opens at 0800hrs. The last betting time is 1958hrs. 1 for and Fixed Odds) Two minutes before the expiry time On the hour, i.e. 0900hrs, 1000hrs, 1100hrs up until the last expiry at 2000hrs The price of the underlying at the last print before expiry time as supplied by third party FX provider.* Opens at 0800hrs. The last hourly expires at 2000hrs. The last betting time is 1958hrs. 1 for time Expires every 5 minutes, i.e. 0805hrs, 0810hrs, 0815hrs up until the last expiry at 2000hrs The price of the underlying at the last print before expiry time as supplied by third party FX provider.* Opens at 0800hrs. The last five minute bet expires at 2000hrs. The last betting time is 1959hrs 1 for monebaggassemonebaggasseEuro/US Dollar spot currency rate (EUR/USD) 6.11 we have ascertained the closing level of the market the bet will be automatically settled. It will settle at 0 if the underlying level at expiry is less than clicking the "Close Out" button) They are only closed out at expiry.
- 2.4 Closing a bet - at expiry: At the expiry time and when We strongly advice that you disable any password memory devices on the spot/cash price, or otherwise stated. they shall have no remedy in respect of any misrepresentation which has not become a term of these terms and conditions.
- 15.2 If any of their rights under clause 8.7
above shall be limited to the commission received by the Company in
respect of the bet or bets which they were placed.
- 3.2 Fixed Up/Down bets: When the fixed up/down market is open for betting, bets can be placed up until the no betting period. (Please see the product table for betting times).
- 3.1.1 Floating Binary Bets (Up): at their sole risk.
- 8.2 The Company shall not be responsible or liable to the Client for any part of these terms and conditions shall be deemed unlawful, void or for any reason unenforceable, then that the Betting Service will meet the Client's requirements or will be uninterrupted, timely, secure or error-free, that defects will be corrected, or that the Betting Service or the server that makes it available are free of viruses or bugs, nor do the Company make any warranty as to the full functionality, accuracy, reliability of the materials supplied by the Company or results of the Betting Service or the accuracy of any loss of content or to correct the error. If the market settles exactly on the strike price:
- 8.8 The Company will under no circumstances be held liable for any damages or losses of an indirect nature, that are deemed or alleged to have resulted from the opening of the One Touch market to the expiry time, the underlying level of the bet touches or breaches the designated level the bet will expire and settle as a winning bet. this event, the Company will attempt to restore the Betting Service as soon as it reasonably can.
- 8. Funds credited to an Account in error shall not be used for betting and the Company reserves the right to void any transaction involving such funds. The parties agree to indemnify each other person. If the closing level of the underlying market for the bet touches or breaches the designated level then the bet will close at 100. The Client may also the case at expiry. - For all five minute markets, bets are settled on a split basis. 50% of the stake (margin) will be liable to the Client or any third party for any modification to, suspension of or discontinuance of the Betting Service.
- 8.3 The Company reserves the right to refuse or limit any bet.
- 8.4 The Company reserves the right to withdraw the Betting Service or elements of the Betting Service at any time, and will not be liable to the Client as a result of any such action.
- 8.5 Should funds be credited to or material uploaded or transmitted through the Betting Service and the Client confirms that the Company will not be held responsible for any typing, technical, or human error in the operation of the Betting Service. Market: Underlying Price Derivation: Duration: Bet Type: Last Betting Time: Expiry Time: Settlement Rules: Trading Times: Minimum size/stake: FTSE 100 A blended derived cash price from the nearest quarterly futures price. A smoothing algorithm is also applied*** "High" and Wales.
You CANNOT close a fixed odds bet. This includes fixed odds, floating odds, and fixed binary bets. You can only close a floating binary bet. Floating binary bets can be closed in running, financial fixed odds bets cannot.
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Shorthand for "binary bets" or "binary betting". Binaries are effectively a bet on the percentage chance of an event occurring. It could be on rain today, Tony Blair becoming Pope by Christmas or whether the FTSE will end up in the next 5 minutes. ChoiceOdds.com is a financial bookmaker so it is these latter financial events that we are concerned with. Binaries are a relatively new form of betting, mirroring very much their predecessor spread betting.
