they (wsex) pretty well say how it goes with their rules i think.
Live-Betting Rules
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In Live Betting, the winner of the game is the team that covers the spread. Each winning contract will be worth 100 $US, and each losing contract will be worth 0 $US.
In the event of a push, both teams expire at $50.
Trades can be made before and/or during the game.
Your market page will refresh on a regular basis, but it is possible for markets to change between refresh times.
Any Immediate Orders entered at a price different from the market price will be rejected.
Any Immediate Orders entered at a price through the market will be executed at the market price (i.e., buy orders entered at prices above the buy price will be filled at the buy price, and sell orders entered at prices less than the sell price will filled at the sell price).
Trading may be temporarily paused by World Sports Exchange at any time to ensure orderly markets.
A competition must be complete for trades to be considered action. If a competition is cancelled or postponed before reaching its originally intended length of play, ALL trades for the event will be refunded.
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Live Betting
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What is Live Betting?
Our Live Betting, a WSEX trademark, allows you to bet on a live event during play. In fact, World Sports Exchange was founded by options traders who wanted to combine the two most exciting environments around: the sportsbook and the trading floor.
In a Live Betting event, a client buys and sells contracts on the outcome of his/her choice. At the end of the event, the winning side pays off at $100/contract; all other contracts are worth zero.
Prices are updated continuously throughout play, meaning that the value of individual contracts fluctuates based on the contestants' performance.
How do I buy and sell contracts?
Click the "Live Betting" link in the main menu, then choose an event. For most events, two teams (or outcomes) will be listed. Golf is an exception: we try to list all the contenders, so up to 50 contestants may be listed.
To trade, simply click the buy/sell price next to the contestant of your choice. A trading window will open in your screen's upper-right frame. Confirm that the buy/sell button is set to your desired transaction type, and that the market price is acceptable. (The market price is listed for convenience; you can choose a different price without worry, as you will always be filled at the best available price.) Finally, select a number of contracts via the second dropdown, then click "place order."
That's all there is to it. You'll quickly receive a trade response from the WSEX system, either confirming that your order was partly/completely filled, or that it was rejected because the price was too low (for buy transactions) or too high (for sell transactions).
On what events do you offer live betting?
Live Betting is offered on major college and pro football games every weekend, plus Monday Night Football (including Thursday night editions). We generally offer three games each on Saturday and Sunday (including the Sunday night game), but hope to expand this schedule in the upcoming season.
In baseball, we offer ESPN, TBS, and WGN games during the regular season?plus all the playoff and championship games, of course.
In basketball, we offer ESPN, TNT, and TBS games during the week, plus NBC games on the weekend?and again, all the playoff and championship games.
Perhaps our most exciting Live Betting markets are in golf. Every Thursday to Sunday, we open our golf markets for live trading during televised PGA coverage... with prices updated shot by shot!
