Game Rules

1. Introduction

  1. The Services (as defined in the Terms & Conditions) provide Players with a gaming service, which enables Players to buy or sell a 'virtual Share' in a virtual team (each a "virtual Share") which represents an Order on that team.
  2. The process of buying or selling a virtual Share is set out at sections 3 and 4 respectively.
  3. Players can seek to make a profit by selling a virtual Share for a higher price than they bought such virtual Share.
  4. Sports Broker shall determine the initial price for each virtual Share but virtual Share prices will then change as set out at section 6 below.
  5. The examples provided below are for illustrative purposes only and are merely intended to provide general guidance and not any advice. Actual information may be different or more detailed depending on the scenario involved.

2. Interpretation

  1. The following words and terms, when used in these Game Rules, shall have the below meaning:

    1. "Base Score" shall have the meaning at 6.2;
    2. "Bankrupt Team" shall have the meaning at 6.9.1;
    3. "Buyer Commission" shall have the meaning at 8.1;
    4. "Buy Order" shall have the meaning at 3.2 and shall include a Market Buy Order and Limit Buy Order;
    5. "Commission" shall have the meaning as set out at 7.2
    6. "Current Buy Price" shall have the meaning at 3.2.1;
    7. "Current Sale Price" shall have the meaning at 4.2.1;
    8. "Factors" shall have the meaning at 6.2;
    9. "Higher Buy Price" shall have the meaning at 3.2;
    10. "Instant Sell Order" shall have the meaning at 4.1.1;
    11. "Limit Buy Order" shall have the meaning at 3.2.2;
    12. "Limit Sell Order" shall have the meaning at 4.3;
    13. "Lower Sale Price" shall have the meaning at 4.2.1;
    14. "Market Buy Order" shall have the meaning at 3.2.1;
    15. "Market Sell Order" shall have the meaning at 4.2;
    16. "Non-Bankrupt Team" shall have the meaning at 6.9.1;
    17. "Order" shall be deemed to refer to a Buy Order and/or a Sell Order, as the context may require;
    18. "Performance Price Decrease" shall have the meaning at 6.4;
    19. "Performance Price Rise" shall have the meaning at 6.5;
    20. "Price Rise Commission" shall have the meaning at 9.1;
    21. "Published Price" shall mean the price of a virtual Share as published on the Services;
    22. "Sell Order" shall have the meaning at 4.1;
    23. "virtual Share" shall have the meaning at 1.1;
    24. "Weighted Score" shall have the meaning at 6.3;
  2. Any capitalised terms used in these Game Rules but which are only defined in the Terms and Conditions, shall have the meaning as defined in the Terms and Conditions.
  3. A reference to:

    1. 'virtual Share' does not denote a physical or actual share in any actual player or team. A virtual Share is a virtual representation of a Player's stake in a virtual team existing only on the SportsBroker platform, application and service
    2. 'buying' or 'selling' virtual Shares is not intended to denote any ownership of any Share, instead it is intended to reference the actions of placing an Order or cashing out of an Order respectively;
    3. an Order being 'placed' (or a player 'placing' an Order) shall be deemed to refer to a Player making an Order available to be executed;
    4. an Order being 'completed' shall be deemed to refer to when an Order is completed on the Service (i.e. when a Buy Order is completed and a Player receives a virtual Share in consideration for paying the respective Price of such virtual Share).

3. "Buy" Orders

  1. Sports Broker provides Players with the opportunity to place an Order by 'buying' a virtual Share.
  2. You may submit a request to 'buy' a virtual Share (a "Buy Order") either as a:

    1. "Market Buy Order" – which will require you set a range of prices at which you agree to buy a virtual Share, between the Published Price of the virtual Share at the time you place the Order ("Current Buy Price") and a higher price which is equal to the Current Buy Price plus a percentage which you will set as part of the Market Buy Order ("Higher Buy Price"). For clarity, a Market Buy Order will only be executed in one of the situations as described at 3.3 below; or
    2. "Limit Buy Order" – which will require you to set a price at which you agree to buy a virtual Share. For clarity, a Limit Buy Order will only be executed in one of the situations as described at 3.4 below.
  3. If you place a Market Buy Order, this will be executed in the below circumstances:

    1. if a corresponding Sell Order (i.e. for such virtual Shares at a value equal to or lower than the Higher Sale Price) is placed by another Player within 24 hours, your Market Buy Order will be executed automatically by Sports Broker at the time such corresponding Buy Order is executed and at the Published Price when such corresponding Buy Order is executed; or
    2. if a corresponding Sell Order is not placed by another Player within 24 hours, your Market Buy Order will be executed automatically by Sports Broker at the end of such 24 hour period and for the respective Published Price of such virtual Share at the end of such 24 hour period, subject to such Published Price being lower than the Higher Buy Price.
  4. If you place a Limit Buy Order, this will be executed if the Published Price of the respective virtual Shares reach the price set out in your Limit Buy Order and Sports Broker is able to match your Buy Order with a corresponding Sell Order (where the virtual Shares are equal to or lower than the price in your Limit Buy Order). Sports Broker provides no guarantee that a corresponding Sell Order will be found/that your Limit Buy Order will be executed.
  5. In the event that a corresponding Sell Order is only made for some of the virtual Shares which were subject to a Buy Order, only that proportion of the Buy Order shall be executed and the remaining amount of the Buy Order shall be subject to the mechanism at 3.3.2 (in respect of a Market Buy Order) or will not be executed (in respect of a Limit Buy Order).
  6. At any point, Sports Broker has the discretion to prevent a Buy Order from being placed or cancel any existing Buy Order.

4. "Sell" Orders

  1. Sports Broker provides Players with the opportunity to cash out an Order, by 'selling' a virtual Share (a "Sell Order") as below:

    1. "Instant Sell Order": which will result in your Sell Order being executed immediately and you receiving 90% of the Published Price of such virtual Shares, with the remaining 10% being transferred to Sports Broker;
    2. "Market Sell Order": which will ensure that your virtual Shares will be sold within 24 hours, though there is no guarantee with regards to the sale price of such virtual Shares – which may be less than your Lower Sale Price (see 4.2 for detail)
  2. If you place a Market Sell Order this will be executed in the below circumstances:

    1. you will be required to set a range of prices at which you agree to sell a virtual Share, between the Published Price of the virtual Share at the time you place the Order ("Current Sale Price") and a lower price which is equal to the Current Sale Price less a percentage which you will set as part of the Market Sell Order ("Lower Sale Price"). If a corresponding Buy Order (i.e. for such virtual Shares at a value equal to or higher than the Lower Sale Price) is placed by another Player within 24 hours, your Market Sell Order will be executed automatically by Sports Broker at the time such corresponding Buy Order is executed and at the Published Price when such corresponding Buy Order is executed; or
    2. if a corresponding Buy Order is not placed by another Player within 24 hours, your Market Sell Order will be executed automatically by Sports Broker at the end of such 24 hour period and for the respective Published Price of such virtual Share at the end of such 24 hour period.
  3. If you place a Limit Sell Order this will be executed if the Published Price of the respective virtual Shares reach the price set out in your Limit Sell Order and Sports Broker is then able to match your Limit Sell Order with a corresponding Buy Order (where the virtual Shares are equal to or higher than the price in your Limit Sell Order). Sports Broker provides no guarantee that a corresponding Buy Order will be found/ that your Limit Sell Order will be executed.
  4. In the event that a corresponding Buy Order is only made for some of the virtual Shares which were subject to a Sell Order, only that proportion of the Sell Order shall be executed and the remaining amount of the Sell Order shall be subject to the mechanism at 4.2.2 (in respect of a Market Sell Order) or will not be executed (in respect of a Limit Sell Order).
  5. At any point, Sports Broker has the discretion to prevent a Sell Order from being placed or void any existing Sell Order, including because:

    1. of any error (including but not limited to those set out at Clause 10.1 of the Terms); or
    2. your Account has been suspended or terminated.
  6. In the event that you place a Sell Order and the Published Price of the respective virtual Shares is reduced to zero before such Sell Order is executed, then the Order will be deemed void and all such virtual Shares will be deemed to be cancelled (such Orders shall be deemed to have lost).

5. Cancellation of Orders

  1. We will use reasonable endeavours to meet Order cancellation requests, but do not guarantee that we will be able to cancel an Order.
  2. No cancellation of an Order will be effective until the original Order is removed from the Service and no longer displayed on the Service.
  3. As an Order is available to other Players until cancelled, there is the possibility that an Order may be accepted and matched in the Service before a cancellation request can be completed. We bear no responsibility for delays which may arise between the time a cancellation is requested by a Player and the time it is cancelled on the Service.

6. virtual Share price changes

  1. The value of a virtual Share will change during the course of a match in which the respective team is competing, on the basis of an algorithm, as described below at 6.6 - 6.10.
  2. Sports Broker will award points to both teams in a match, on the basis of defined factors as set out at Appendix 1 ("Factors"). The value of each of the Factors and the weighting will be determined by Sports Broker, but the relative importance of the Factors is set out at Appendix1. The total of such points for each team shall be the "Base Score".
  3. The Base Score will then be weighted in accordance with the respective positions of the teams in their league (the "Weighted Score"). The weighting will be determined by Sports Broker and, in headline terms, each team will be assigned a handicap based on their league position. For example, if the team at the top of a league scores a goal against a team at the bottom of a league, the impact will be relatively small on the Base Score of such teams (when calculating the Weighted Score). On the flip side, if a team at the bottom of the league scores against a team at the top of the league the impact on the Base Scores of such teams will be relatively large (when calculating the Weighted Score).
  4. If a team has a lower Weighted Score at any point during a match, the price of a virtual Share will decrease (the "Performance Price Decrease"). The amount of a Performance Price Decrease will be based on the relative Weighted Scores of each team and will be determined by Sports Broker using a proprietary algorithm.
  5. If a team has a higher Weighted Score at any point during a match, the price of a virtual Share will increase (a "Performance Price Rise"). The amount of a Performance Price Rise will be equal to the amount of any Performance Price Decrease of the other team, see illustrative example below.

    The amount of a Performance Price Rise will then be subject to the deduction of Price Rise Commission (as set out at section 9 below).

  6. The amount of a Performance Price Decrease shall be calculated on a pro-rata basis at the end of the relevant match, according to the entire market value of the virtual Shares of such team:

    EXAMPLE FOR ILLUSTRATIVE PURPOSES ONLY

    Manchester City play Aston Villa;

    prior to the match, the virtual Shares for these teams are priced as below and the following amounts are bought by Players:

    (a) Manchester City priced as £8 per virtual Share and 1,250 virtual Shares bought by Players; and

    (b) Aston Villa priced as £4 per virtual Share and 500 virtual Shares bought by Players.

    Aston Villa achieve a lower number of Weighted Actions in the match than Manchester City and the Performance Price Decrease of an Aston Villa virtual Share is calculated to be £1.25;

    Manchester City achieve a greater number of Weighted Actions in the match than Aston Villa and the Price Increase of a Manchester City virtual Share is calculated to be

    £0.50, on the basis of the below:

    (c) the Performance Price Decrease in each Aston Villa virtual Share was £1.25 per virtual Share, resulting in an aggregate decrease of £625 (£1.25 multiplied by 500 virtual Shares);

    (d) the aggregate Performance Price Rise in the value of the Manchester City virtual Shares must also be equal to £625, which equates to £0.50 per virtual Share (£625 divided by 1,250 virtual Shares).

    Warning

  7. Please note that a team may win a match but that there may be a decrease in the value of its virtual Shares. This would occur if a team won a match but had lower Weighted Actions than the other team. For example, if a team which is top of the league played a team which is bottom of the league and the team which is top of the league won 2-1, there could be a decrease in the virtual Share price for the team which is top of the league if it had lower Weighted Actions in such match.

    virtual Share Price reaches zero

  8. If a virtual Share's value is reduced to zero, then:

    1. all such virtual Shares will be deemed to be cancelled (such Orders shall be deemed to have lost);
    2. any Sell Orders for such virtual Shares shall be void;
    3. any Buy Orders for such virtual Shares shall be void; and
    4. new virtual Shares for the respective team will be made available for purchase at a price set by Sports Broker.
  9. If a virtual Share's value is reduced to zero value during a match:

    1. trading shall be suspended on the virtual Shares of both the team whose virtual Shares have reduced to zero value (the "Bankrupt Team") and the opposing team in such match (the "Non-Bankrupt Team"); and
    2. the Price of the virtual Shares of the Non-Bankrupt Team will not be affected by any Performance Price Rise or Performance Price Decrease until the Bankrupt Team has had new virtual Shares made available and a certain proportion of such new virtual Shares have been bought by Players (to be determined at the discretion of Sports Broker).

7. Commission

  1. In consideration for providing the Services, Sports Broker will charge commission as below:

    1. Buyer Commission (as defined at 8.1 of these Rules); and
    2. Price Rise Commission (as defined at 9.1 of these Rules).
  2. In these Rules, "Commission" shall be deemed to refer to 'Buyer Commission' and 'Price Rise Commission'.

8. Buyer Commission

  1. Sports Broker will charge commission to a Player on any Buy Order placed by that Player which is subsequently executed ("Buyer Commission").
  2. Buyer Commission will be equal to 2.5% of the amount of a Buy Order.

9. Price Rise Commission

  1. Sports Broker will charge a commission on every Performance Price Rise ("Price Rise Commission").
  2. The Price Rise Commission will be calculated on an ongoing basis during a match (approximately calculated every second) and shall be equal to a range of no less than 10% and no more than 20% dependent on weighting of factors of any Performance Price Rise. The Price Rise Commission will be deducted from the value of the virtual Share every time there is a Performance Price Rise.

EXAMPLE FOR ILLUSTRATIVE PURPOSES ONLY

a Player holds one Manchester City virtual Share at £8 per virtual Share;

Manchester City play Aston Villa and Manchester City win 5-0;

the 'true' increase in value of the Manchester City virtual Share would be a Performance Price Rise of £1, with a new virtual Share price of £9. However, the Performance Price Rise would be £0.90 (i.e. £1 less 10% Price Rise Commission) with a new virtual Share price of £8.90.

10. virtual Share price adjustment

  1. Separate from any changes in a price of a virtual Share as described above at section 6, at the end of each match, Sports Broker may adjust the Published Price of each virtual Share at its discretion.
  2. If the Published Price of a virtual Share is adjusted, a Player will receive a number of virtual Shares which are equal to the aggregate value of the virtual Shares they held at the previous Published Price and are subject to any difference to the Player's detriment being refunded to the Player. Please see below for illustrative purposes only.

    EXAMPLE FOR ILLUSTRATIVE PURPOSES ONLY

    the value of a Manchester City virtual Share is £10;

    a Player holds 20 Manchester City virtual Shares (with an aggregate value of £200);

    Sports Broker adjusts the Published Price of the Manchester City virtual Shares to £7.50 per virtual Share;

    the Player is issued 6 further Manchester City virtual Shares, with the result that the Player holds 26 Manchester City virtual Shares (with an aggregate value of £195) and the Player is refunded £5.

  3. In the event of a virtual Share price adjustment as described at 10.2, any Market Buy Order, Limit Buy Order, Market Sell Order or Limit Sell Order in respect of the affected virtual Share(s) will be voided.

11. End of Season

  1. At the end of a season of a competition, the virtual Shares of any team competing in such competition will be sold and any Order on such virtual Shares will be cancelled.

Appendix 1 – Factors

The factors we use in order of importance are:

  • Goals
  • Own goal (negative factor)
  • Penalty conceded (negative factor)
  • Red cards (negative factor)
  • Yellow cards (negative factor)
  • Shots on target
  • Shots off target
  • Offsides (negative factor)
  • Fouls Committed (negative factor)
  • Free kick
  • Tackles
  • Aerial duels won
  • Ground duels won
  • Possession

    • Saves
    • Catches
    • Crosses
    • Punches
  • Touches
  • Pass Location

    • Own Half
    • Total
    • Attempted
    • Opponent Half
    • Total
    • Attempted
  • Passes Missed
  • Interceptions
  • Successful passes

    • Forward
    • back
  • Passes Received
  • Passes Attempted
  • Corners
  • Crosses

    • Blocked
    • Successful
  • Possession

    • Own Half
    • Opponents Half
  • Field Third

    • Own
    • Middle
    • Opponent