Erroneous Order Policy
1. Erroneous Orders
BettorEdge may consider an order to be clearly erroneous where an obvious or significant input error, whether the quantity, total, spread, or price of an order does not meet the definition of a ‘fair price’ as defined below.
This policy is designed to protect BettorEdge users in order to provide a fair experience to users. Recognize that we may not be able to recover full amounts (i.e. if an individual trades out of a position) and the customer that places the first erroneous order will be liable for the difference.
2. Defining a Fair Market Price
After a claim is filed via the process below, BettorEdge will use available resources and data to determine the fair market price. This data include, but is not limited to, recent trades on BettorEdge at the time, external prices at other offerings, and other market news/information. If the erroneous order was matched at a price +-25% of the fair market price at the time, BettorEdge reserves the rights to void the position. Additional market factors may come into play that reserves the opportunity for BettorEdge to determine if an order is erroneous. Examples of this data may be system malfunction, market volatility, new or information becoming available (i.e. player injury/news, team news). Where markets are volatile due to additional information becoming available, it’s less likely an order will be considered erroneous as a fair price may not be possible to obtain objectively.
3. Filing an erroneous claim
In order to file an claim, submit a written request to BettorEdge at Support@BettorEdge.com within 60 minutes of the orders being placed/matched and include the following:
-
Market or game the erroneous error was placed
-
Timing of the order being placed
-
Your username
-
Price and terms of the erroneous error (odds &/or total/spread)
-
Reason the order/position is believed to be erroneous
Instances must be received prior to any additional events occur that may impact the position outcome (i.e. game start/finish).
4. Claim Resolution
BettorEdge will make every attempt to resolve your attempt within 120 minutes of receiving the claim during normal business hours. Where additional review or information is needed, BettorEdge may take until the following day to resolve the claim.
5. BettorEdge Review of Market Pricing
BettorEdge believes in providing the best experience to it’s community of users. Accordingly, BettorEdge monitors fair market pricing across it’s markets to find outlier transactions. Where erroneous orders are placed, the user placing the order may be contacted with additional information about the occurrence.