How IBAS works

how arbitrage works

The Independent Betting Adjudication Service (IBAS) acts as an impartial adjudicator on disputes that arise between gambling operators who are registered with IBAS and their customers.

Prior to adjudication, IBAS requires that:

(1) The dispute has been fully considered by the gambling operator but has not been settled to the satisfaction of both parties.

(2) The parties to the dispute agree to comply with IBAS's terms and conditions.

All properly referred disputes will be investigated by IBAS.

IBAS is user-friendly

There are no bureaucratic obstacles or fees or charges to deter an applicant. IBAS will require written submissions from both parties explaining the facts of the dispute. Written submissions force parties to make themselves accountable for their statements and ensure there is a fully documented record of all exchanges in the case file for the benefit of panellists as they become involved in a dispute. All cases are investigated, contemporary documentary records being obtained by IBAS and referred to as necessary.

Adjudications are not made on the basis of which party makes a better presentation

Gambling operators and their customers do not need to be concerned about the quality of presentation or writing skills. It is the role of IBAS to identify relevant issues; therefore adjudications are always based on the facts of a case and not on either of the parties' rhetoric.

The ruling

is always based on objective standards

The first point of reference in all adjudications will be the gambling operator's rules. When a customer makes a bet there is an agreement that the bet will be settled in accordance with those rules. If the gambling operator has no rule governing the disputed situation then the Panel imposes its own rule based on what it perceives is consistent with fair practice and accepted industry convention.

IBAS believes that both parties are entitled to a detailed explanation which gives the reasoning behind the Panel's decision. This demonstrates that IBAS rulings are not arbitrary and are based on objective criteria which can be followed and understood. Gambling operators should bear in mind that the Gambling Commission requires them to submit a copy of every dispute ruled on by the operator's appointed adjudicator. IBAS will provide this service for operators where agreed.

In all of its rulings IBAS will attempt to be consistent with previous rulings issued in similar circumstances. At the conclusion of the adjudication process identical copies of the ruling containing a direction as to settlement are sent to both parties at the same time.

IBAS is confidential

Most people do not wish their gambling, in common with other aspects of their financial affairs, to become public knowledge. Therefore every case is treated as a strictly private matter between the parties.

Source: www.ibas-uk.com

Category: Forex

Similar articles: