Too Good to Be True Policy

Too Good To Be True

ProphetX's 'Too Good to Be True' policy is designed to protect ALL customers who request plays and provide liquidity from offering egregious errors on accident.

Peer to peer products depend on customers requesting plays in order to provide liquidity for other parties to match. For an exchange to function, counterparties must actively post offers. 

To support this, exchanges have policies in place that protect users from accidentally offering errors. These protections are essential and without them, users would be less inclined to provide liquidity, resulting in fewer markets and reduced activity across the platform. ProphetX reserves the unequivocal right to cancel plays under the ‘Too Good To Be True’ Policy at any point in time.

This policy protects against egregious errors on offers, but will not apply on taken plays, news changes, injury updates, or in the case of live offers, changes in the score (unless covered by a case below). For the sake of clarity, any situation that results in consensus line movement after a play is requested does not apply.

We understand that many players use ProphetX to create arbitrage opportunities - ProphetX is not responsible for positions on other platforms. If the offer is too good to be true, we encourage you to use your judgement before moving forward with any arbitrage opportunities.

Any attempt to abuse the Too Good to Be True policy to the detriment of other players or the exchange and for the benefit of the abuser may result in the policy not applying and potential account suspension or closure. 

ProphetX reserves the right under extraordinary circumstances to cancel plays that are the result of clear and obvious errors. Examples of clear and obvious errors include but are not limited to:

• Play placed at odds that are materially different from those available in the general market at the time that order was placed.
  • An example: A user requests a play with odds of -400 when the market is at +400.
• Play placed containing incorrect participants
  • An example: The wrong UFC fighter is listed on the market and being priced as such
• Plays where the outcome is already determined
  • An example: Requested plays remain open after an outcome is determined and are then matched
• Plays resulting in a clear or obvious errors resulting from a platform  technical issue
  • An example: Users requests are being matched at odds other than the odds they entered on their request due to a technical error.
• Plays where the wrong market has been priced as a result of a user or platform error
  • An example: A Series Winner market where the fair market value is -300 at the time of placement, priced at -150 because the market was priced as if it were a moneyline market.
• Plays where odds have been ‘fat fingered’
  • An example: A play meant to be offered at +1200, is entered as +120
• Plays where there is suspicious activity within the market
• Plays where a technical error has occurred as a result of data feeds
  • An example: A game start time is not sent correctly from a data provider, resulting in pregame offers being matched after a game is in progress.