Financial Betting Rules
APPLICABILITY OF THESE RULES
The following product specific rules (“Financial Betting Rules”) govern the end users’ use of all the Operator’s interactive Binary Options products and services offered on www.LIGASBO.com or the wireless applications wap.LIGASBO.com or mobile.LIGASBO.com. They form part of the Operator's General Term & Conditions, which apply to all the interactive and online wagering products and services the Operator offers to individuals who register for a LIGASBO Account for any of the online or interactive betting products or services offered by the Operator (the “End User”). To the extent there is any inconsistency between the General Terms and Conditions and any of these Financial Betting Rules, the General Terms and Conditions shall prevail.
Throughout these Financial Betting Rules, any reference to "we", "our", or "us" refers to the Operator, as noted in the General Terms and Conditions as providing the relevant services. Any reference to the “Internet Betting Service” or the "Website" shall also include a reference to WAP.
An Asset is the stock, currency, index or commodity on which the option bet is based. (Example: the EUR/USD (the Euro and US dollar)) can act as the Asset for an option.
At-the-Money is where the price of the predetermined outcome of an option matches precisely with the Strike Price or the price at the time the bet was placed. This will result in the amount wagered by the End User being returned to the End User’s Account.
1.3. Bet or Wager Not Available
This means that an Asset is not available for a bet to be placed on it. Generally all the Assets are available for wagering during market trading hours. Outside of market trading hours, the Asset will not be displayed in the Finance section. A bet or wager will also not be available in the event that there are no funds available in the End User’s Account.
1.4. Betting Expiry
This means the point in time of an Option where no further betting or wagering is allowed for the particular Asset.
1.5. Binary Option
Shall mean an option bet which offers a potential fixed payout predetermined at the opening or placing of the bet.
1.6. Closed Bet
This is a bet that has been placed and the Expiration Time has lapsed resulting in a win [In-the-Money], loss [Out-of-the-Money] or draw [At-the-Money] outcome for the End User.
1.7. Expiration Rate / Price
The Expiration Rate or Price is the level of the underlying Asset at the Expiration Time provided by well-known international data providers determined by the Operator. This is the determining level when compared with the Strike Price, if the option has expired “In-the-Money” or “Out-of-the-Money”. A different Expiration Rate is determined for each underlying Asset.
1.8. Expiration Time
The Expiration Time is the time and date at which an option expires.
1.9. Financial Bet or “Bet” or “Wager”
Shall mean a wager to open a Binary Options or Digital options position or any other financial bet that the Operator may offer to End Users through the Website.
In-the-Money means that an option has been determined to have achieved the predetermined outcome or result that the End User predicted at the time of placing the bet. In the case of a ‘High’ option, the Expiration Rate was above the Strike Price at the Expiration Time. A ‘Low’ option finishes In-the-Money when the Expiration Rate is below the Strike Price at the Expiration Time. A ‘High’ or ‘Low’ option bet that is In-the-Money will be a winning bet for the End User.
1.11. Limitation or Limits
This means restrictions or limits on all or part of a bet that the End User has constructed for placement.
1.12. Open Bet
This is a bet that has been placed but has not reached the Expiration Time.
A term used to describe when the End User finishes in a position where their bet is a losing one. This happens when an option has not achieved the predetermined result at the Expiration Time. Example being when an Above option was wagered, it is Out-of-the-Money if the Expiration Rate is lower than the Strike Price. If a Below option was wagered on, it is Out-of-the-Money if the Expiration Rate is higher than the Strike Price.
Refers to the amount that the End User will receive for a winning bet represented by the original stake and the winnings.
1.15. Price / Rate
This means the prices or exchange rates offered by the Operator which are based upon “indicative” prices and rates provided by various financial information systems as the current updated Rates for transactions in the financial markets.
1.16. Strike Price
This is the Price at which the Financial bet for an Asset can be exercised. In the case of Binary Options, it most often refers to the Price-at-sale of the Asset, which is also the Price used to determine whether a bet expires In-the-Money or Out-of-the-Money in an Above-Below option bet. In the case of a Touch option, it refers to the value that the Asset must reach for the bet or wager to be In-the-Money.
1.17. Strike Range
This is the Price or Rate range that determines if a Range Option bet for an Asset is In-the-Money or Out-of-the-Money. This Price range is predetermined at the time the Range Option bet is placed.
2.1. In the event of any inconsistency between the English and the Non-English names or terms used on the Website, it is the English version that shall prevail.
2.2. If there is any dispute over the interpretation of these Rules, it is the Operator's interpretation of these Rules that shall prevail.
2.3. The End User hereby represents and warrants (which representations and warranties shall be deemed to be repeated by the End User on each date on which a bet is placed via the Website) that:
(a) as the Operator provides the End User with a financial betting service only, the End User has the capacity to evaluate and understand the terms, conditions and risks of each bet placed hereunder and the End User is willing and able to accept those terms and conditions and to assume (financially and otherwise) those risks;
(b) the End User is acting as principal in any bet placed on the Website and each bet thereunder;
(c) if the End User is in default of any of these Financial Betting Rules the End User will give the Operator a notice as soon as he becomes aware of such occurrence.
2.4. Adjustments shall be made to the options’ Prices, according to the adjustments made with respect to the base Assets, in case End User has an open wager in such option whilst such adjustment are made to the base Assets. The End User hereby agrees that the Operator has the exclusive right to round the last digit of the Price of any Asset.
2.5. The End User acknowledges that there are risks associated with utilising an Internet-based financial betting system including, but not limited to, the failure of hardware, software and Internet connection. Since the Operator does not control signal power, its reception or routing via Internet, configuration of the End User’s equipment or reliability of its connection, the Operator shall not be responsible for any communication failures, distortions or delays. The End User further acknowledges and confirms that the Operator does not represent or warrant or guarantee that:
the End User will be able to access or use the Website at times or locations of the End User’s choosing, or that the Operator will have adequate capacity for the Website as a whole or in any geographic location; and (ii) the Website will provide uninterrupted and error-free service.
The End User hereby further acknowledges and confirms that the Operator shall not be responsible for an impossibility to receive and accept bets due to failures in the operation of the information systems caused by faults, of any kind whatsoever.
2.6. If the End User were to execute wagering strategies acting in bad faith, that is, the End User is committing any improper or abusive wagering act such as:
(a) fraud / illegal actions that led to the transaction;
(b) bets placed based on manipulated Prices as a result of system errors or system malfunctions;
(c) arbitrage betting on Prices offered by the Operator’s platforms as a result of systems errors; and/or
(d) coordinated transactions by related parties in order to take advantage of systems errors and delays on systems updates.
In the event that the above shall occur, the Operator shall have the right to:
i. adjust the Price spreads available to the End User; and/or
ii. restrict the End User’s access to streaming, instantly betable quotes, including providing manual quotation only; and/or
iii. obtain from the End User’s Account any historic winnings that the End User may have gained through such abuse of liquidity as determined by the Operator at any time; and/or
iv. reject or void a bet; and/or
v. immediately terminate the End User’s betting Account.
2.7. The maximum loss that the End User may suffer on a single bet when wagering on Financial bets is the stake or amount wagered by the End User of that bet.
2.8. The Operator does not provide a market amongst or between End Users for investments, securities, derivatives or speculations. Each Financial bet placed via the Website, is an individual agreement between the End User and the Operator and is not a security, nor is it transferable, negotiable or assignable to or with any third party.
2.9. Any bet to be placed by an End User will be subject to certain Limitations or Limits. These Limits or Limitations will be imposed by the Operator without any prior notice. These Limits will be made visible to the End User at the time of placing of the bet. The parameters of these Limits are subject to change from time to time. Any breach of these Limits will result in the restriction of the placing of all or part of the bet.
2.10. The maximum bet amount varies according to the specific bet type and is subject to change without prior notice by the Operator.
2.11. The minimum bet amount varies according to the specific bet type and is subject to change without prior notice by the Operator.
2.12. If an incorrect Asset Price / Rate is quoted for any Option type or if the Operator has relied on incorrect information to compile its Prices or Rates or bets, or if bets have been accepted in error, then the Operator reserves the right to void such or all bets placed for that Asset or Option and to return the stakes.
2.13. The Operator reserves the right to refuse, reject or suspend without prior notification, any End User who is suspected of cheating, hacking, attacking, manipulating or damaging the Operator's normal betting operations (including the Internet Betting Service or the Website). Any "abnormal bets" will be voided without prior notification. The use of artificial intelligence or "bots" on the Internet Betting Service or Website is strictly forbidden. The Operator will take measures to prevent and detect programmes that are used to enable artificial intelligence (non human) to utilise the Internet Betting Service or the Website. Any attempted or actual use of artificial intelligence by the End User to cheat, hack, attack, manipulating or damage the Operator's betting operations will lead to termination of their Account or voiding the bets, at the discretion of the Operator.
3. Bet Option Types
3.1. Binary / Digital Option
Binary Option is a bet with three possible outcomes, based on an Asset, where the Strike Price, Expiration Time and Payout are fixed at the time the bet is placed by the End User. The outcomes are that the bet is In-the-Money, Out-of-the-Money or At-the-Money.
(a) High/Low is a Digital Option bet where the End User must first select a combination of an Asset, the Expiration Time and the Payout already predefined by the Operator. The Above position is then selected if the prediction is that the Asset Price will go up above the Strike Price at the Expiration Time or the Below position is selected if the prediction is that the Asset Price will be below the Strike Price at the Expiration Time.
(Example: Assume that time is 10:00, the predetermined Expiration Time is 10:30 and the Gold market-price or Strike Price is $1,200. If the End User predicts that the Price of Gold will be higher than $1,200 by 10:30, then the Above option is to be selected).
(Example: Assume that time is 13:00, the predetermined Expiration Time is 13:30 and the Gold market-price or Strike Price is $1,200. If the End User predicts that the Price of the Asset will be lower than $1,200 by 13:30, then a Below option should be selected).
(b) Turbo is a Digital Option bet where the End User must select a combination an Asset and the Strike Price. The End User must now select the Expiration Time. The End User should select the Above position if the prediction is that the Asset Price will go up above the Strike Price at the Expiration Time or select a Below position if the prediction is that the Asset Price will drop below the Strike Price at the Expiration Time.
(Example: Assumed that Asset: EUR/USD, Expiration Time set to 1 minute, Strike Price is 1.35927, If the End User predicts that the exchange rate of the Asset will be lower than 1.35927 at the Expiration Time, then the Below option should be selected).
Touch Options are options where a bet is placed that the Price of a certain underlying Asset will achieve or exceed a certain Price level in the future before its Expiration Time.
With Touch Options, the bet placed has to reach a specific Strike Price which was selected for the Asset at the time the bet is placed. Unlike a regular Binary Option, predicting the Price direction is not enough. This is because the direction and Strike Price are embedded within the option.
Touch Up Options expire “In-the-Money”, if the Asset Price increases and reaches or exceeds the Strike Price at any time before the Expiration Time. The Asset Price must reach or exceed the Strike Price at least once prior to the option’s Expiration Time. Touch Down Options expire “In-the-Money” if the Asset Price drops and reaches the Strike Price at any time before the Expiration Time. The Asset Price must reach the Strike Price at least once prior to the option’s Expiration Time.
(Example: Assume that Asset: EUR/USD, Expiration Time set to: 11:00 current Price at: 0.81385, Strike Price is 0.81397, If the End User predicts that the EUR/USD will either reach or exceed the Strike Price at least once before the Expiration Time, then the Touch Up option should be selected).
Range is a type of Binary Option bet similar to Touch Options. The End User wagers on a Strike Range. If the Price level of the Asset expires in this Strike Range and the In option was selected, the bet is a winning bet. To be “In-the-Money”, the winning bet must accurately predict whether the Price of a specific Asset will be within or outside of the predetermined Strike Range at the Expiration Time.
To place a Range Option bet, the End User must select an Asset and a time frame; then choose an In or Out option. Select In, if the predicted Price will expire within the Strike Range. Select Out, if the predicted Price will expire outside the Strike Range.
(Example: Assume that Asset: EUR/USD, Expiration Time set to: 11:00 Rate at: 0.81385 and Strike Range: 0.81457 – 0.81380, if it expires at: 0.81450 and the End User has selected In, the End User would be In-the-Money, hence a winning bet. For the Out option, the Asset must be out of the Strike Range. If the Price expired at 0.81364, then this Out option would be In-the-Money).
4. Betting Tools
This feature is available for all Assets and allows a bet that has been placed to be closed or settled prior to the predetermined Expiration Time. If exercised, the bet will payout the amount indicated in the Winning section of the betting slip.
The Close tool is only available for Digital Options and will only be active for fixed period 5 minutes after the bet has been placed and 1 hour before the Expiration Time.
This tool is only available for Options where there must be over 5 minutes remaining before the Betting Expiry and the bet is In-the-Money.
This tool is available for all Assets and allows the End User to create a new bet with the same conditions with regard to Asset and Expiration Time and amount wagered of a bet already placed but on the current Strike Price.
The Double tool is only available for Digital Options and will only be active for fixed period 5 minutes after the initial bet was placed and 1 hour before the Expiration Time.
This tool is only available for Options where there must be over 5 minutes remaining before the Betting Expiry.
This tool is available for all Assets and will extend the Expiration Time of a bet that has already been placed. The End User will be charged with the amount indicated in the Cost section of the betting slip at the time of utilisation of the tool.
The Extend tool is only available for Digital Options and will only be active for fixed period 5 minutes after the bet was placed and 1 hour before the Expiration Time.
This tool is only available for Options where there must be over 5 minutes remaining before the Betting Expiry.