7.13. Financial events

Terms and definitions

Financial events (financial betting) are bets on the outcome of financial events.

Financial events are a set of market prices (quotations) on various financial instruments, such as currency pairs (EUR/USD, etc.), equity indices and other options, which are received from the independent provider of financial information and then offered as markets available for placing bets.

Independent provider of financial information is an independent organization that provides quotations: the ‘bid’ price (at which the ordinary participant of the financial market is proposed to sell the financial instrument) and the ‘ask’ price (at which the ordinary participant of the financial market is proposed to buy the respective financial instrument). Our independent provider of financial information is Dukascopy Bank SA.

The outcome of a financial event is the last (final) price offered in a given interval of time (5 minutes, 1 hour, etc.). Outcomes of the financial events for currency pairs are determined on the basis of the bid price.

Bets are accepted with principle that the outcome of the financial event will be above or below the starting price, at the time bets were placed. If the outcome of a financial event was exactly equal to the starting price which was used to place a bet, the payment is made with a coefficient of 1 (the initial stake is returned).

Example: Financial events. EUR/USD (1 hour interval). At 13:15 you made a bet that by the end of the hour the price of Euro to US dollar will be above the level of 1.47680, which was the rate at the moment of placing the bet. So now, if the prices are closed above 1.47680 at 14:00, your bet wins. If the prices are closed below 1.47680, the bet loses. And if the price is closed exactly at 1.47680, the payment will be made with a coefficient of 1.

How to place a bet

Enter bet stake, click on the price for the selection which you are interested in. Your bet will be placed providing you have enough funds in your account and the bet meets our terms and conditions. You will see a message confirming whether your bet has been placed or not. To place the maximum bet on the price of the chosen selection please check the "Max stake" box.

Change of level/odds at the moment of placing a bet

If the price changes to the benefit of a customer at the moment when the bet has been placed, the bet is accepted with the new price, more favourable for the customer. A popup window will appear with a message: “Your bet has been placed at the level/odds changed: initial level/odds - ...”. These bets will be highlighted in green on the Bet History page.

Example:

1) Change of level at the moment of placing a bet. You placed a bet that by the end of an event, the price of Euro to US dollar was above the level of 1.47680 offered when the bet was placed. If while you are placing the bet the level decreases to 1.47665, your bet will be accepted at this new level of 1.47665. If the level changes to any value above 1.47680, your bet will not be placed and you will see a message offering to place a bet at the new current level.

2) Change of odds at the moment of placing a bet. You placed a bet that by the end of an event, the price of Euro to US dollar was above the level of 1.47680 with odds 2.12 that was offered when the bet was placed. If while you are placing the bet the odds increases to 2.15, your bet will be accepted with the new odds of 2.15. If the odds change to any value below 2.12, your bet will not be placed and you will see a message offering to place a bet at the new current odds.

Custom Permissible Error (CPE)

A customer has an option to set a custom permissible error (slippage, or an acceptable margin) to a certain number of points (at fixed levels it is set in percentage points of the odds), which means customer's agreement to accepting the bet at the level/odds that has changed to the customer's disadvantage. The minimum for the CPE is 0.00001. These bets will be highlighted in red on the Bet History page. According to the Terms of Financial Events, if the level/odds changed to customer's disadvantage while placing a bet, then the bet with these odds will not be placed and a customer will see a message offering to place a bet at a new current level. However if a level changed just a bit, this change will not affect a customer’s will to place the bet as provided by a value of CPE. For example, the level increased by 0.00001 (the odds increased by 0.01).

Example:

1) CPE with static odds. You placed a bet that by the end of the event the price of Euro to US dollar will be above the level of 1.47680, which was the rate at the moment of placing the bet. You set the CPE to 0.00004. As a result if the level changed within 0.00004 range at the moment the bet was placed, which means increasing up to and including 1.47864 your bet will be accepted at the current level.

2) CPE with static levels. You set your CPE to 10%. If the odds were 7.5 (CPE=0.75) at the moment of placing the bet, then the bet will be accepted with the odds decreasing to 6.75. If the odds at the moment of placing the bet was 1.27 (CPE=0.127), then the bet will be accepted with the odds decreasing down to and including 1.143.

Range

Range betting – this option is only available with static odds. Such bets are accepted once a player enables the “Range” mode by ticking a relevant box. Bets are accepted on the outcome of a financial event being in or out of the price range at the moment when the bet was placed. If the outcome of a financial event was exactly equal to one of the range limits on which the bet has been made, the payment is made by a coefficient of 1.

Last Modified Date: 19/04/2018