Terms that allow winnings on open bets to be reduced
Terms designed to permit you to reduce potential winnings on open bets must not be unfair within the meaning of the Consumer Rights Act 2015. The Act defines terms as unfair if they cause a significant imbalance in rights under a contract to the detriment of consumers. We would consider terms that obliged consumers to accept reduced benefits, in the form of lower pay-outs, to be such an imbalance.
This is not intended to capture current practices that may fairly amend potential returns on open bets – examples include terms capturing Rule 4 and situations where there is a clear and obvious error in the odds offered.
Example of what not to do:
Have terms that permit reductions to pay-outs “in exceptional circumstances” or those that are linked to commercial success.
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Last updated: 15 February 2022
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