1.General
-In the market rules we may state that the relevant market will not be 'actively managed' by LayExchange. Where this is applicable, LayExchange aims to use its reasonable endeavours to suspend in-play markets at the start of and at the end of the event, however, LayExchange cannot guarantee that such markets will be suspended at the relevant time.

-LayExchange will not part-suspend outcomes/selections in an Exchange market that has been turned in-play (although it may do so in Sportsbook or Fixed Odds markets).

-LayExchange customers are responsible for managing their in-play bets at all times.You must ensure that the score is correct, especially for in-play matches. This is the responsibility of the member. There is a 5-minute period at the end of the match to submit an objection. If the objection is not submitted within this timeframe, payments cannot be refunded.

-For the purposes of in-play betting, customers should be aware that transmissions described as "live" by some broadcasters may actually be delayed or pre-recorded. The extent of any delay may vary depending on the set-up through which they are receiving pictures or data.

-The availability of an in-play market on our Exchange product for a particular event does not necessarily mean that there will be an equivalent in-play market for the same event on our Sportsbook or Fixed Odds products.

2- markets not suspending at the time of the ‘off’
-In relation to markets which are scheduled to be turned in-play, LayExchange aims to use its reasonable endeavours to turn such markets in-play at the time of the 'off'.However, regardless of what it says in the Market Information, LayExchange does not guarantee that such markets will be suspended and turned in-play at the time of the 'off'.

- LayExchange will use its reasonable endeavours to ascertain the time of the actual “off” (or will othersiwe rely on the scheduled "off time) and all bets after the time of the “off” as determined by LayExchange will be void. If the event is still on-going LayExchange will use its reasonable endeavours to re-open the market for in-play betting.
 

3- Soccer markets - not suspending on the occurrence of a Material Event and rules relating to VAR
Not suspending on the occurrence of a Material Event and cancellations of Material Events due to VAR
-If LayExchange does not suspend a market on time for the occurrence of a Material Event, LayExchange reserves the right to void bets matched after the Material Event has occurred. Voiding of these bets may take place during the event or retrospectively once a game is completed.
-Where a Material Event is cancelled due to a determination made via a video assistant referee(VAR), LayExchange will void bets as follows for such Material Event and the cancellation of it:
-Goals
If a goal is scored and subsequently cancelled in a game using VAR technology, we will void all bets between the goal being scored and the goal being cancelled by VAR.
If a goal is scored and then confirmed after a VAR review, no voiding will take place.
For the avoidance of doubt on the above, LayExchange deem every goal to be reviewed by VAR.
-Red Cards and Penalties
For the cancellation of a red card, due to VAR, bets matched after the Possible VAR will be voided.
The voiding of any such bets may take place during the event or retrospectively once a game is completed.
Where a video assistant referee ruling results in the award of a red card or penalty, such Material Event will be deemed to have occurred at the time at which the Possible VAR was indicated to us by our feed provider. In such circumstances, bets matched prior to the Possible VAR will not be voided.
-Definition of “Material Event in a match with VAR technology”
For the purpose of these Exchange Rules, a "Material Event" shall mean a goal being scored, a penalty being awarded or a player being sent off.
-Definition of “Possible VAR”
For the purpose of these Exchange Rules, a “Possible VAR” is the point at which an on-field action is deemed at risk of VAR review, according to information from our feed provider.
 

4- Results and market settlement
-Markets will be settled as set out in the Market Information and/or the Specific Sports Rules.
-Where the Market Information or Specific Sports Rules do not specify how and on what basis a market will be settled, markets will be settled on the official result of the relevant governing body regardless of any subsequent disqualification or amendment to the result (except if an amendment is announced within 24 hours of the initial settlement of the relevant market in order to correct an error in reporting the result).
-If no official result of a relevant governing body is available, the result will be determined by LayExchange (acting reasonably) using information from independent sources. In such cases, if any new information comes into the public domain within 48 hours of settlement, then LayExchange shall (acting reasonably) determine either: whether the market should be reinstated or resettled in light of this new information; or whether or not to wait for further information before deciding whether to reinstate or resettle the market. Except where LayExchange has announced that it is waiting for further information, any information that comes into the public domain more than 48 hours after a market has been settled shall not be considered by LayExchange (regardless of whether or not such information may have led to a different result).
-In the event of any uncertainty about any result or potential result, LayExchange reserves the right to suspend settlement of any market for an unlimited period until the uncertainty can be resolved to the reasonable satisfaction of LayExchange. LayExchange reserves the right to void any market if the uncertainty regarding settlement cannot be resolved to LayExchange's reasonable satisfaction.

5- Resettlements
-Markets are generally settled shortly after the end of the event in question. LayExchange may settle (or part-settle) some markets before the official result is declared (or may increase a customer's 'available to bet' balance by the minimum potential winnings of that customer on a given market) purely as a customer service benefit. However, LayExchange reserves the right to amend the settlement of the market if: the official result is different to the result on which LayExchange initially settled the market ; or if the whole market is eventually voided (e.g. for an abandoned event).
-LayExchange reserves the right to reverse the settlement of a market if a market is settled in error (for example, a human or technical error).
-If LayExchange resettles a market, this may lead to amendments being made to a customer's balance to reflect changes in market settlement.

6-  Leaving and disqualifications
-Subject always to LayExchange's right to void bets under its terms and conditions or for any exception under the Exchange Rules, if a market contains a statement that says "All bets stand, run or not" (or something similar) in the Market Information, then all bets on a team or competitor will stand regardless of whether or not the team or competitor starts the event or takes any part in the event.
-Where the Market Information does not stipulate that all bets will stand regardless of participation, customers should refer to the relevant Specific Sports Rules.
-If a team or competitor is disqualified, withdraws or forfeits after starting an event they will be deemed a loser providing at least one other team or competitor completes the event. If no team or competitor completes an event (having started) then all bets will be void except for bets on any markets which have been unconditionally determined.

7- Abandonments, Cancellations, Postponements
-Some markets have different rules and these are listed in the Specific Sports Rules and/or the Market Information. However, where a market has no rules in the Specific Sports Rules or the Market Information in relation to an abandonment, cancellation and/or postponement the following shall apply.
-In relation to any match, fixture, game, individual event, race or similar: If the event is not completed within three days after the originally scheduled completion date, then all bets on markets for this event will be void, except for bets on any markets that have been unconditionally determined.
-In relation to any tournament, competition or similar: If the event is not completed within three days after the originally scheduled completion date, then any markets relating to the event will be settled in accordance with the official ruling of the relevant governing body, providing such a decision is given within 90 days after the scheduled completion date. If no official ruling is announced in this 90 day period, then bets on any market relating to this event will be void, except for bets on any markets which have been unconditionally determined. If a market is to be voided but has been part-settled as a courtesy to LayExchange customers, then such part-settled bets will be reversed and all bets on the market will be void.

8-Periods of time
-Some markets have different rules and these are listed in the Specific Sports Rules and/or the Market Information. However, if not dealt with in the Specific Sports Rules or the Market Information then the following shall apply.
-Unless otherwise stated, all bets on soccer markets apply to 90 minutes of play according to the match officials, plus any added injury or stoppage time. However extra-time and penalty shoot-outs are not included. The only exceptions are for: matches that are scheduled for a duration other than the standard 90 minutes (e.g. 60, 70, 80 or 120 minutes) as agreed by the laws of the competition in which they are competing or agreed by both sides prior to kick-off. In such cases, if the match is played in the traditional format of two halves, all bets will be settled at the end of the agreed game length which includes time added on by the referee for stoppages (whether the game length is advertised by LayExchange or not). If the game is played in an unusual format (e.g. 3 or 4 periods) then all half-time markets will be voided but all other markets will be settled on the basis of the score at the end of the match (including any time added on by the referee for stoppages).
-Some markets refer to the length of time until an occurrence in the event (e.g. time of first goal). If an event happens in stoppage or injury time after any regular time period then it will be deemed to have occurred at the end of the regular time period. For example, if a goal is scored in first half stoppage-time in a soccer match it will be deemed to have occurred on 45 minutes.
-All bets apply to the relevant full 'regular time' period including stoppage time. Any extra-time and/or penalty shoot-out is not included.
-References within these Rules and Regulations to a particular number of 'days' shall mean the end of the day local time after the expiry of the specified number of days.

9-Match bets
-Some markets have different rules and these are listed in the Specific Sports Rules and/or the Market Information. However, if not dealt with in the Specific Sports Rules or the Market Information then the following shall apply.
-'Match Bets' for one-off events are determined by the competitor or team with the best score, time or finishing position in the event. If none of the competitors or teams involved in the match bet complete the event or register a score, time or finishing position then bets are void unless specified otherwise in the Specific Sports Rules and/or the Market Information. Any competitor or team not completing an event or registering a score, time or finishing position having taken part in the match bet event will be settled as a loser providing at least one other team or competitor completes that event or registers a score, time or finishing position.
-'Match Bets' for progress in a competition or event with multiple heats or rounds are determined by the competitor or team which qualifies to the furthest round (whether it takes part in the further round or not) or with the best score, time or finishing position in the final or same heat of that competition or event. If the relevant competitors or teams fail to qualify in the same round of the competition but in different heats then dead-heat rules will apply, irrespective of the finishing positions in their respective heats. Markets will be part-settled after the end of each round and any subsequent disqualifications, penalties or amendments to results or qualifications will not have any effect on the market. Where one or more of the competitors or teams are disqualified, for the purposes of settlement, the disqualified competitor or team will be deemed to have progressed further in the competition or event than all those eliminated from the competition or event prior to the disqualification, and will be deemed to have finished last (or joint last if there is more than one disqualification) of those still competing in the competition or event. Disqualification will be considered to have taken place at the time of the competitor's or team's removal from the competition or event by the relevant governing body, rather than at the time of the event which caused disqualification.
-If one of the competitors or teams does not take any part in the event, then all relevant match bets will be void.
-If an event or tournament is abandoned or reduced in duration such that any competitor or team fails to complete the match bet, event or tournament for any reason other than withdrawal or disqualification then all bets will be void except for those on markets which have been unconditionally determined.

10-"To qualify" markets
Some markets have different rules and these are listed in the Specific Sports Rules and/or the Market Information. However, if not dealt with in the Specific Sports Rules or the Market Information then the following shall apply.
Any 'to qualify' market (e.g. "to reach the final" markets) will be determined by the competitor or team that qualifies under the terms set out in Market Information, whether or not they take part in the next round or event for which they have qualified. Markets will be settled after the qualifying stage and any subsequent disqualification or amendment to the result will not count.

11-Rules for Cash Out 
-Cash Out is a feature which is offered on various betting markets on the LayExchange Exchange.
-Cash Out is an easy way to lock in a profit, or cut your losses, without having to wait for the event to finish. If you decide to Cash Out, LayExchange will automatically place further bets on the LayExchange market to lock in your position. Customers should be aware that, if a selection is removed from a market, this may impact Cash Outs that were implemented prior to the removal of the selection and customers may receive a lesser amount than was displayed on the Cash Out button.
-If you make a Cash Out request, you will be notified whether or not your request has been successful. Your request to Cash Out is not guaranteed to be accepted and may be unsuccessful if, for example, the market suspends or the odds move before your request has been processed.
-If your Cash Out request is successful, a ‘success’ message will be shown and your bet(s) (or the relevant portion of your bet(s)) will be settled at the time on which all other bets on the same market are settled (at which time any winnings will be returned to your account).
-Any attempted cash out will be reversed (and your stake returned to you) where: (i) you cash out of a bet in respect of which the market is later voided (e.g. due to abandonment of the applicable event) or (ii) you cash out of a bet which was placed on a “draw no bet” (or similar) basis and the relevant event subsequently event ends in a draw.
-If your Cash Out request is unsuccessful, a message will be shown which gives the reason why and a new Cash Out offer may be offered to you.
-Cash Out requests made in-play may take longer to process because of the in-play bet delay.
-Cash Out may not be available at times where there is low liquidity in a market.
-LayExchange reserves the right to reverse the settlement of a Cash Out if the bet or a market is settled in error (for example, due to a human or technical error) or if the bet or a market is subsequently declared void. If LayExchange resettles a bet, this may lead to amendments being made to a customer's balance to reflect changes in bet settlement.
-LayExchange reserves the right to suspend or disable the Cash Out feature at any time.
-Please be aware that if you place a bet with the intention of subsequently using the Cash Out function, there can never be a guarantee that Cash Out will be available at the point you wish to place the subsequent bet (this is the case regardless of whether or not the unavailability of the Cash Out service is due to a matter beyond our reasonable control).