How it works
Wager allows friends to bet against each other. Wager is not a bookmaker.
All bets are placed on professional football matches. Each bet is between two users (you and one friend). There are no group bets.
Each friend takes an opposing side of the bet, e.g. you bet on ‘Chelsea to win’ and your friend bets on ‘Chelsea not to win’
All bets are placed at live, market odds
Both friends’ stakes are combined together and Wager takes a platform fee which is built into the odds. The two stakes added together minus Wager’s platform fee forms the pot. The winner of the bet wins the pot.
Wager settles all bets based on the results of the football matches
To place a bet, you can either send a bet to a friend, or accept a bet your friend sends to you
If you send a bet and change your mind before your friend accepts, you can cancel
If you send a bet pre-match and your friend hasn’t replied by kick-off, the bet will automatically be cancelled
If you send a bet and the odds move by >10% before your friend replies, the bet will automatically be cancelled
The Wager application (the "App") is the official app of the peer-to-peer sports betting exchange operated by Cato Partners Limited (“Operator”, “we” or “us”). The App enables registered users ("Users" and, where you are a registered user "you") to place real-money bets ("Bets") with other Users. Every Bet is a bet between two Users, with one User taking one side of the Bet, the other User taking the other side of the Bet, and the App providing the odds for both sides of the Bet.
How sending, receiving and placing a Bet works
Every Bet involves two Users.
The first User is the sending User, and the second User is the receiving User.
The sending User creates a Bet by choosing:
a match (e.g. Arsenal vs Chelsea)
a betting market (e.g. match result)
their [the sending User’s] bet selection (e.g. Arsenal to win)
either their stake (the £ amount the sending User is investing in the Bet) or the Bet’s pot (the £ amount the User who wins the Bet will receive – where winning the Bet is defined as the App settling the Bet in favour of the User who correctly predicted the betting market’s outcome).
The App provides the odds for all betting markets available on the App. All Bets are placed at these App-provided odds – Users do not and cannot set their own odds.
If the sending User chooses a Bet selection and a stake, the odds of that selection are used to calculate the Bet’s pot as follows: pot = User’s stake multiplied by decimal odds of User’s selection.
E.g. if the User made a Bet selection with decimal odds of 4.00 and a stake of £5, the Bet’s pot = £5 multiplied by 4.00 = £20.00
If the odds of the User’s selection changes after the User has made the selection and before the User has sent the Bet, the User will be informed of the change and will have to accept the new odds in order to send the Bet.
If the sending User instead chooses a Bet selection and a pot, the odds of that selection are used to calculate the User’s stake as follows: User’s stake = pot divided by decimal odds of User’s selection
E.g. if the User made a Bet selection with decimal odds of 4.00 and a pot of £20, the User’s stake = £20 divided by 4.00 = £5.00
When the sending User has created a Bet, they send the Bet as a ‘Bet request’ to a second User – the receiving User. This Bet request cannot be sent to multiple Users – the first sending User can only send the Bet request to a single receiving User.
The sending User must have an available account balance (the £ amount the User has available in their Bet account) greater than or equal to their stake in order to send the Bet request. As soon as the sending User sends the Bet request, the sending User’s stake is deducted from their account balance.
If the Bet is placed (the Bet sent by the sending User is accepted by the receiving User) and the sending User wins the Bet, their account balance is increased by the value of the Bet’s pot.
If the Bet is placed (the Bet sent by the sending User is accepted by the receiving User) and the sending User loses the Bet, there is no change to the sending User’s account balance as the sending User’s stake has already been deducted (at the point when the sending User sent the Bet request)
If the receiving User rejects the Bet, then the sending User’s account balance is increased by their initially committed stake (this stake is returned as the Bet has not been placed)
The sending User may cancel their Bet request from the time when they send the request until the time when the receiving User accepts or rejects the request. If the sending User cancels their request, then then the sending User’s stake is returned to their account balance as the Bet has not been placed
The receiving User receives the ‘Bet request’ with the following information:
the match (the same match that the sending User selected, e.g. Arsenal vs Chelsea)
the betting market (the same betting market that the sending User selected, e.g. match result),
the sending User’s selection
their [the receiving User’s] selection (e.g. Chelsea to win or Draw)
both their stake (the £ amount the receiving User is investing in the Bet) and the Bet’s pot (the £ amount the User who wins the Bet will receive – where winning the Bet is defined as the App settling the Bet in favour of the User who correctly predicted the betting market’s outcome).
The receiving User, having received the Bet request, can now make one of four choices. The receiving User either:
Accepts the Bet – meaning that the Bet created by the sending User is placed. The receiving User must have an available account balance (the £ amount the User has in their App account) greater than or equal to their stake in order to accept the Bet request. As soon as the receiving User accepts the Bet, the Bet is placed and the receiving User’s stake is deducted from their account balance. Once placed, this Bet cannot be cancelled by either User and will be settled by the App in favour of the winning User (the User who correctly predicted the betting market’s outcome). If both Users contact the App’s customer service team and both request to cancel a pre-match Bet that has been accepted, and the match has not yet started, then the App’s customer service team, at its own discretion, may cancel the Bet.
Rejects the Bet – meaning that the Bet is not placed and instead is cancelled.
Ignores the Bet – meaning that the Bet is not placed.
The App enables Users to Bet on markets both before a match starts (‘pre-match’) and during a match (between kick-off and full time, ‘in-play’).
All Bets requests that are sent pre-match and have not been accepted or rejected by the time that the match starts will be automatically cancelled at the time that the match starts. Therefore, Users cannot and may not accept or reject Bet requests that they have received pre-match after the match starts.
All Bet requests that are sent in-play (after the match has started) and have not been accepted or rejected by the time that the match ends will be automatically cancelled. Therefore, Users cannot and may not accept or reject Bet requests that they have received in-play after the match finishes.
Users should note that ‘live’ TV or other broadcasts are delayed and that others may have more up-to-date information.
Every Bet request will display both Users’ selections to both users. These selections will be placed at the odds shown on the App at the time when the first User sends the Bet request and will be fixed for this Bet (they will not change for this Bet). This means the odds for this Bet will not be updated from the time when the first User sends the Bet request, even if the odds shown on other pages of the App have updated to different odds.
As stated above, the odds of a Bet are fixed at the odds shown on the App at the time when the first User sends the Bet request. If, at the time when the receiving User accepts the Bet request, the latest odds shown on the App of either of the Users’ selections have not changed or have changed by less than 10% (as shown on the App) from the odds fixed at the time the first User sent the Bet request, then the Bet will be successfully placed at the odds shown at the time when the first User sends the Bet request. Users should note that this means their Bets may be placed at odds different to the latest odds shown on the App, and Users are responsible for being aware that this is the case. The App allows Bets to be placed at odds slightly changed (less than 10%) from the updated odds shown on the App in order to help simplify the process for placing a Bet. Note that a 10% increase in decimal odds of 2.00 (this is the same as fractional odds of 1/1 or evens) results in increased decimal odds of 2.20, and a 10% decrease in decimal odds of 2.00 results in decreased decimal odds of 1.80.
If the latest odds shown on the App of either of the Users’ selections change by 10% or more at any time before the receiving User accepts the Bet request, then the Bet request will be automatically cancelled. This means that the sending User’s stake is returned to their account balance as the Bet is not placed.
The minimum bet size is £0.10
Users can only place Bets on betting markets provided on the App - Users are therefore not able to create ‘custom Bets’ to send as requests to another User
For a market with two outcomes (e.g. the over/under 2.5 goals market which has two outcomes: over 2.5 goals, under 2.5 goals), each User will always select one outcome. This means that all outcomes of the market will be collectively covered by the two Users. When the sending User selects their chosen outcome (e.g. over 2.5 goals), the App automatically assigns the other outcome (e.g. under 2.5 goals) to the receiving User.
For a market with multiple outcomes (e.g. the match result market which has three outcomes: home win, draw, away win), each User will always select at least one outcome, so that all outcomes of the market will be covered by the two Users. When the sending User selects their chosen outcome(s), the App automatically assigns all the remaining outcomes to the receiving User. Example 1: If the sending User selects ‘home win’, then the receiving User is assigned the ‘draw’ and ‘away win’ outcomes. In this example, if the home team wins, the sending User wins the Bet. If the match ends in a draw or the away team wins, the receiving User wins the Bet. Example 2: if the sending Users selects the ‘home win’ and ‘draw’ outcomes, then the sending User is assigned the ‘away win’ outcome. In this example, if the home team wins or the match ends in a draw, the sending User wins the Bet. If the away team wins, the receiving User wins the Bet.
All Bets on football, unless otherwise stated, will be settled based on the result after normal time (90 minutes). Match result therefore refers to the match result after normal time (90 minutes), meaning extra time and penalties don’t count (unless stated otherwise).
Definition of betting markets:
Match result (3 outcomes: home win, draw, away)
Team to qualify / win the trophy (2 outcomes: team 1, team 2). The team that advances to the next round in a knockout competition / wins the final of a knockout competition wins this market. This is the only market where the result after extra time and penalties counts.
Team to win + handicap (2 outcomes: yes, no). Team to win the match in 90 minutes including the stated handicap (e.g. the team start the match winning or losing by 1.5 goals)
Both teams to score (2 outcomes: yes, no). Based on whether both teams score a goal in the match
Over/under goals (2 outcomes: over x goals, under x goals)
Next team to score (3 outcomes: home team, away team, no goal). Own goals count to the side credited with the goal. In the event of an abandoned game Bets stand on scores that have taken place already
Outrights: season-long bets with 2 outcomes e.g. my team to finisher higher than your team in the Premier League, your team to finish higher than my team in the Premier League. Outright bets have their own specific terms and conditions - please see this page on the Outrights screen
Specials: one-off bets with 2 outcomes e.g. Liverpool to receive at least one red card in today’s game. Special bets have their own specific terms and conditions - please see this page on the Specials screen
Bets are therefore always settled in favour of one User, unless the Bet is voided.
We reserve the right to suspend markets at any time (e.g. when a penalty is given or if we detect suspicious activity).
The results used to settle Bets are the official results recorded by the event organiser or a certified data provider.
We reserve the right to void Bets that include odds that the App mistakenly quotes at any time (e.g. the odds for a different market are mistakenly shown for a market, or the odds of a market are mistakenly switched between the outcomes of a market).
We reserve the right to refuse, restrict, prevent or limit the placement of any Bet.
We will void any Bets where the outcome cannot be reasonably determined.
Abandonment / postponement / cancellation of a match (only voided if the event is not concluded within 48 hours of the originally scheduled start time)
If a match is abandoned before full time is reached, and not completed within 48 hours, Bets on the outcome of the match are considered void and all stakes shall be returned, except for those Bets the outcome of which has already been determined at the time of abandonment e.g. next team to score was placed pre-match and one team has scored
Bets placed after the outcome has already been determined
If a match venue is changed (other than to the away team's ground) then Bets already placed will stand providing the home team is still designated as such. If the home and away team for a listed match are reversed, then Bets placed based on the original listing will be void. We will endeavour to identify all matches played at a neutral venue. For matches played at a neutral venue (whether indicated on our site or not), Bets will stand regardless of which team is listed as the home team. In the event of a match being played on a neutral ground the team displayed first will be considered as the home team.
We will suspend a market for the occurrence of a material event (e.g. goal being scored, penalty being awarded or player being sent off). If we do not suspend a market on time for the occurrence of a material event, we reserve the right to void Bets unfairly placed 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, we will void all Bets which are matched between the occurrence of the material event and the cancellation of it. The voiding of any such Bets may take place during the event or retrospectively once a game is completed. If a Bet is settled based on an outcome that is subsequently changed by video assistant referee, we reserve the right to rescind this pay-out and correctly settle the Bet based on the updated outcome.
No Bet can ever be cashed out early.
The pot, the stake and the Operator’s platform fee
Every settled Bet is comprised of the two Users’ stakes and the single pot that is won by the winning User. There is always one single pot for every Bet, and this pot is always won by one of the Users. The pot is never shared between the Users.
The sum of the two Users’ stakes is always greater than the pot. The difference between the sum of the two Users’ stakes and the pot is the platform fee paid by both Users to the App’s operator. For example, according to the odds, the sending User may have to stake £12.50 for a £20 pot, while the receiving User may have to stake £8.50 for the same £20 pot. The two stakes sum to £21 thus the App operator's platform fee in this example is £1.
This platform fee is charged on every settled Bet, and is the only fee taken by the App’s operator.
The stake and the pot will always be calculated using decimal odds. When converting odds from decimal odds to fractional odds, round-off errors may occur, since some odds don’t have an exact translation into British-style fractions. In this case, the App will show the nearest fractional odds.
Each User’s usage (e.g. number of Bets placed) and financial (£ value of stake, £ value of pot, £ value of winnings) data will never be displayed publicly or shown to any other User. This information will always be kept private.
Please contact firstname.lastname@example.org for any further information
Wager is the trading name of Cato Partners Limited of 124 East Road, London N1 6FD