Terms & Conditions

1. About these Terms

These Terms & Conditions (the "Terms") are a legally binding agreement between you and Tufdog. In these Terms, "Tufdog", "we", "us" and "our" mean Tufdog and any entity acting on its behalf, including our platform provider, Victoi, Inc., when it acts for us. They govern your use of the Tufdog website, web app and any Tufdog app (together, the "Service"). Tufdog's registered company details will be published on this page once Tufdog is registered. Until then, you can send any notice to us at support@tufdog.com.

By creating an account, or by using the Service, you agree to these Terms and to the policies they include: the Market Rules (with the rules shown on each market), the Fee Schedule, the Market Integrity Policy, the Acceptable Use Policy, the AML, KYC & Sanctions Policy and the Account Closure & Dormant Funds Policy. Please also read our Risk Disclosure Statement, Conflicts of Interest Disclosure, Privacy Policy, Cookie Policy and Responsible Trading page. Every document is listed on our Legal page. If you do not agree, do not use the Service.

We publish these Terms in English. If we provide a translation and it differs from the English, the English version applies, except where the law of your country says otherwise.

2. Who provides the Service

Tufdog is owned by Victoi, Inc., a Delaware corporation ("Victoi", our "platform provider"), which provides the platform the Service runs on and acts on Tufdog's behalf. In particular:

• your Tufdog balance is recorded in a ledger operated by Victoi;
• your orders are matched on an exchange order book operated by Victoi;
• a market maker run by Victoi quotes prices on that order book and may be the other party to your trade (see "The market maker");
• deposits are taken on a secure payment page operated by Victoi and processed by its payment processor.

Your account is a Tufdog account. It is separate from any Victoi account you may have, and closing one does not close the other. Victoi, Inc. owns Tufdog and provides the platform the Service runs on, acting on Tufdog's behalf. Your agreement is with Tufdog. When Victoi keeps your balance and positions, matches your orders or takes your deposits, it does so for Tufdog as our platform provider.

3. What Tufdog is, and what it is not

• Tufdog is not a bank. Your balance is not a bank deposit, earns no interest and is not protected by any deposit-insurance or investor-compensation scheme.
• Tufdog is not a broker, investment adviser or bookmaker acting for you. We do not give advice or recommendations, and nothing on the Service (prices, chances, charts, "trending" lists or news) is advice.
• Regulatory status: Tufdog is not licensed, registered or supervised by any financial, securities, commodities, gambling or other regulator in any country, and no regulator has approved Tufdog or its event contracts. It is your responsibility to make sure that using the Service is lawful where you are.

Predictions are risky. You can lose all of the money you put into a position. Only trade what you can afford to lose. Read our Risk Disclosure Statement before you trade.

4. Who can use Tufdog

To open and use an account you must:

• be at least 18 years old, or the age of legal majority where you live if that is higher;
• be an individual acting for yourself, not for a business or anyone else;
• not live in, or be located in, a restricted jurisdiction (see below);
• not be subject to sanctions, and not be prohibited by law from using a service like Tufdog;
• have only one Tufdog account;
• not be an employee or contractor of Tufdog or Victoi, or a person with access to non-public information about the outcome of a market, trading in that market.

Restricted jurisdictions

Tufdog does not operate in, and the Service is prohibited to residents of and people located in, the following countries (the "Restricted Jurisdictions"): Afghanistan, Algeria, Angola, Australia, Belarus, Belgium, Bolivia, Bulgaria, Burkina Faso, Canada, Central African Republic, China, Democratic Republic of the Congo, Côte d'Ivoire, Cuba, Ethiopia, France, Haiti, Hungary, India, Iran, Iraq, Ireland, Italy, Kenya, Laos, Lebanon, Libya, Mali, Monaco, Mozambique, Myanmar, Namibia, New Zealand, Nicaragua, Niger, North Korea, Poland, Portugal, Russia, Singapore, Somalia, South Sudan, Sudan, Switzerland, Syria, Taiwan, Thailand, Ukraine, United Arab Emirates, United Kingdom, Venezuela, Yemen and Zimbabwe.

The current list of Restricted Jurisdictions is the one on this page. We may add to it or change it at any time, including without notice where the law, sanctions or our payment partners require. Some markets or products may also be unavailable in places that are not on the list.

We use your network location, and any other information we hold about where you live, to decide whether the Service is available to you. You must not hide or misstate where you live or where you are — for example with a VPN, a proxy or false information — to use the Service from, or as a resident of, a Restricted Jurisdiction. Doing so is a serious breach of these Terms: we may close your account and void any trades made in breach of this rule. A voided trade is reversed — you get back what you paid for it and any profit from it is cancelled. If you move to a Restricted Jurisdiction, you must stop using the Service and tell us so we can close your account.

We may ask you to confirm your age, identity or location at any time, and we may refuse or close an account at our discretion where the law allows.

5. Your account

• You sign in with a one-time code sent to your email, or with your Google or Apple account. You must keep access to that email or sign-in account secure. You are responsible for activity on your account until you tell us it has been compromised.
• The information you give us must be true and kept up to date.
• You choose a display name. Other members may see it, so it must not be offensive, misleading, impersonate anyone, or include personal information.
• If you think someone else has used your account, contact us straight away at support@tufdog.com.

Identity checks

We do not currently ask for identity documents to open an account. We may ask you to verify your identity, age, address or the source of your funds at any time — for example before you can deposit more, withdraw, or keep trading — through us or a specialist verification provider, and we must do so before certain withdrawals or where the law requires it. If you do not complete a check we ask for, we may limit your account.

6. How prediction markets work

A market asks a question about a future event — for example "Will Arsenal beat Chelsea?" At launch Tufdog offers sports markets (such as football, the NFL and Formula One). We may add, change or remove market types.

Contracts

• Each outcome is traded as a YES or NO contract.
• When the market settles, every contract on the side that happened pays $1.00. Every contract on the other side pays $0.
• Contracts are priced between $0.01 and $0.99. The price roughly reflects the market's view of the chance of that outcome — it is not a promise or a forecast by us.
• Your cost is the price times the number of contracts. The most you can lose on a position is what you paid for it.

Orders

• A limit order buys or sells at your price or better. Any part that does not fill straight away can rest on the order book until it fills, you cancel it, or trading in the market ends.
• A market order fills straight away at the best available prices, up to any worst price or amount you set. Any part that cannot fill straight away is cancelled.
• Orders can fill in part. When you place an order, the money needed for it is held from your balance until it fills or is cancelled.
• You can cancel the unfilled part of a resting order at any time before it fills. A filled trade cannot be cancelled by you.
• You can sell contracts you hold before the market settles, if there is a buyer. You cannot sell contracts you do not hold. To take the opposite view, buy the other side.
• We set limits — such as a maximum order size, a maximum position per contract, and how often orders can be sent — and may change them.

Live games

When a game is in play, an order you send is held for a short delay before it reaches the order book, and is refused if the score changes during that delay. Live trading may be paused (for example after a goal) and is closed whenever we do not have a fresh live price.

When trading stops

Each market shows when trading ends. Resting orders are cancelled when trading ends. We may also pause or close a market early — for example when a data feed is late, an event changes, or we suspect a problem.

7. The market maker

To make sure there is usually a price to trade at, a market maker operated by our platform provider, Victoi, quotes prices to buy and sell on the order book. You should know that:

• the market maker trades for its own account and may be the other party to your trade. When it is, it profits when you lose and loses when you win;
• it sets the opening price of each contract and adjusts its prices using models and data feeds;
• its quotes during a live game are not subject to the short delay that applies to members' orders;
• its prices are not advice and are not a guarantee of value. You choose whether to trade at them.

Every matched trade is fully paid for when it is made: both sides' money is held, so your payout on a winning contract does not depend on the other party paying later. Staff accounts cannot trade on the Service. See our Conflicts of Interest Disclosure.

8. Stocks, Crypto and Forex

Besides prediction markets, Tufdog lets you trade stocks, crypto and forex (currency pairs). These products are not registered with or approved by any securities, commodities, foreign-exchange or crypto-asset regulator, and Tufdog is not a licensed broker, dealer, investment firm, exchange or crypto-asset service provider. These Terms apply to them as they do to prediction markets, with the rules in this section. The Market Rules apply to prediction markets only.

Day trading only

• Stocks, Crypto and Forex are offered for day trading only. Every open stock, crypto and forex position is closed automatically every trading day — stocks at the 4:00 PM New York close, crypto at 00:00 UTC and forex at 5:00 PM New York time — at the price available then, and the exit fee applies to that close. Buying stops 10 minutes before each close. If a close fails, we retry it; if the market has already shut, the position is closed at the next opening price, which can be very different from the last price you saw. Nothing is held overnight, so there is no overnight fee.
• Every order is good for the trading day only: an unfilled limit or stop order is cancelled at that market's daily close (stocks 4:00 PM New York, crypto 00:00 UTC, forex 5:00 PM New York).
• You trade with market, limit and stop orders. A market order fills straight away at the best available price; a limit order fills only at your price or better; a stop order becomes a market order when the price reaches your stop and can fill past it.
• You can only sell what you hold. There is no short selling.
• Opening a position is free. Closing it — by selling, or at the daily close — pays the exit fee on the total amount of that execution, not only on any profit. The exit fee rate is set by us and may change. The fee is shown in the order summary before you confirm; the rate in effect when you confirm is the rate you pay on that execution.

Prices and how orders are filled

• Stock and crypto orders are matched on the order book of our platform provider, Victoi, where its house desk quotes prices and may be the other party to your trade.
• Forex orders are executed by our platform provider's house desk, which is the other party to your trade, at prices from an independent market-data provider.
• Every currency pair can be traded. Your Tufdog balance is held in US dollars. When a trade needs another currency — for example a forex pair with no US-dollar leg — we convert the US dollars needed at our exchange rate, which includes a conversion spread. There is no swap fee.
• Forex: Forex is offered without leverage (1:1): every position is paid for in full from your balance.
• Prices can move between the moment you see one and the moment your order fills. We may refuse an order when no fresh price is available.

What you hold

• Your positions, like your cash balance, are recorded in the one ledger Victoi operates (the "Victoi book"), in your Tufdog account. They are not held in your name at a broker, exchange or wallet.
• Stocks: a Tufdog stock position is a contract that tracks the price of the real share. It is not ownership of the share: you do not own the share, and you have no voting rights, no right to dividends and no other shareholder rights. A position cannot be transferred to a broker or to anyone else.
• Crypto: a Tufdog crypto position is a contract that tracks the price of the coin. You do not own the coin and none is held in a wallet for you. You cannot deposit coins to Tufdog or withdraw coins to your own wallet; a position can only be closed on Tufdog, for US dollars.

Switching off

We may stop new buying in any of these products at any time — for example during an incident or a price-feed outage. Selling what you already hold stays open unless trading in that asset is halted.

9. Settlement, voids and corrections

• Each market has its own rules, shown under "Market rules" on the market. They say how the outcome is decided and from which source. The general rules are in our Market Rules.
• Sports markets settle on the official result published by the league or governing body. Settlement is usually automatic once the result is available; we may settle a market manually where needed.
• When a market settles, winning contracts pay $1.00 each to your balance, less the fee on the total payout in our Fee Schedule. A losing settlement pays nothing and costs nothing.

Voided markets

We void a market when it cannot be settled fairly — for example when the game is cancelled or abandoned, is postponed with no new date, or the result needed by the market's rules is not available. When a market is voided, every holder gets back what they paid for their contracts, including the fee. A postponed game's market is suspended; if no new date is set within seven days, it is voided.

Mistakes

If a market is settled wrongly, a trade is made at a price that is obviously wrong because of a technical error, or money is credited to you by mistake, we may correct it — including by reversing the settlement or the trade and adjusting your balance. We will tell you if we do.

Disputing a settlement

If you think a market settled wrongly, tell us within 7 days of the settlement by emailing support@tufdog.com with your account email, the market and why you think the result is wrong. We will review it against the market's rules and the source they name, and reply in writing. A settlement that is not disputed within 7 days is treated as accepted, except where it was wrong because of our own error or fraud, or where the law gives you longer.

10. Fees

• No fee to enter a trade. Buying or opening a position is free, in every market.
• Exit fee. A fee is charged when the order that takes you out of a trade executes — selling, or closing a position — in every market. It is a percentage of the total amount of that execution (not only of any profit) and is taken from what you receive. In Predict the same fee is charged on the total payout of a winning position. Rates are in our Fee Schedule and the fee is shown before you confirm. The rate shown when you confirm is the rate you pay on that execution.
• No overnight fee. Day-trading positions are closed automatically at the daily close, so nothing is held overnight.
• Currency conversion. When a trade needs a currency other than US dollars, we convert your US dollars at our exchange rate, which includes a conversion spread. There is no swap fee. See our Fee Schedule.
• No fee is charged on a losing settlement, when you cancel an unfilled order, or when an order expires. A void refunds what you paid.
• Deposit fee. A card or wallet deposit may carry a processing fee. It is shown on the payment page before you pay.
• We may change our fees for the future by updating the Fee Schedule. A change never applies to a trade you have already made.
• You are responsible for any taxes on your winnings or trading. We do not give tax advice.

11. Deposits, your balance and withdrawals

Deposits

• You add money by card, Apple Pay or Google Pay on a secure payment page operated by our platform provider and processed by its payment processor. We do not receive or store your full card number.
• You must only use a card or wallet in your own name.
• Your card statement may show the platform provider's name rather than Tufdog's: the charge may appear under the name "Victoi" or another descriptor of our platform provider. If you do not recognise a charge, please contact us before disputing it with your card issuer.
• A deposit is added to your balance once the payment is confirmed. We may refuse, hold or reverse a deposit we suspect is fraudulent, unauthorised or not allowed by these Terms.
• If you dispute a deposit with your card issuer (a "chargeback") while the money is still in your account or has been used to trade, we may limit your account until it is resolved, and recover the amount from your balance.

Your balance

Your balance is shown in US dollars and is the money in your Tufdog account that is not held for an open order. It is not a bank deposit and is not insured. You may only use it to trade on the Service.

Withdrawals

Withdrawals are not available yet. Until they are, your balance stays in your account and you can keep using it to trade. Your balance remains yours. If you want it back before withdrawals are available, or your account is closed (by you or by us), email support@tufdog.com: we will return your available balance to the card or wallet you deposited with where the payment processor allows it, or otherwise by another method we agree with you, after any checks the law requires (which may include verifying your identity). We aim to do this within 30 days of your request.

When withdrawals launch, we will tell you how they work, any fee, and any checks we need first. We may need to verify your identity, and we may send a withdrawal only back to the method you deposited with.

12. What you must not do

You must not do any of the following. Our Market Integrity Policy and Acceptable Use Policy say more.

• trade on inside information — information about an event that is not public — or trade in a market whose outcome you, or anyone you act with, can influence (for example as a player, coach, official or team staff);
• manipulate prices or volume, trade with yourself, coordinate trades with others, or place orders you do not intend to fill;
• use more than one account, share your account, or let someone else trade for you;
• use the Service from a restricted jurisdiction, or hide your location;
• deposit money that is not yours or that comes from crime, or use the Service to launder money or finance terrorism;
• use bots, scrapers or automated tools on the Service, or try to break, overload or get round its security, limits or geographic controls;
• exploit a bug or pricing error, and you must tell us about one you find;
• harass anyone, or choose an offensive display name.

13. Suspending or closing your account

We may suspend trading, freeze your balance, cancel open orders, void trades made in breach of these Terms, or close your account if we reasonably believe you have broken these Terms, the law requires it, your account is at risk, or we stop offering the Service where you are. Where the law allows, we will tell you why. Where trades are voided because of your misconduct, we may keep any profit from them.

You can close your account at any time by contacting us at support@tufdog.com. Your open orders are cancelled. Positions you still hold settle under the market's rules. Your balance remains yours. If you want it back before withdrawals are available, or your account is closed (by you or by us), email support@tufdog.com: we will return your available balance to the card or wallet you deposited with where the payment processor allows it, or otherwise by another method we agree with you, after any checks the law requires (which may include verifying your identity). We aim to do this within 30 days of your request. See our Account Closure & Dormant Funds Policy.

We may stop offering the Service, or any market, with reasonable notice, except where we must act sooner to comply with the law.

14. Availability and our content

• We try to keep the Service available, but it may be interrupted, slow or have errors, and live data (scores, clocks, prices) may be late or wrong. Do not rely on the Service as your only source of information about an event.
• Team names, league names and logos belong to their owners. They are shown to identify the event. Tufdog is not endorsed by or connected with any team, league or governing body.
• The Service and its content belong to us or our licensors. You may use it for your own personal, non-commercial use only.

15. Our liability to you

Nothing in these Terms limits or excludes liability that cannot be limited or excluded by law — including for death or personal injury caused by negligence, for fraud, or your statutory rights as a consumer.

Subject to that, and as far as the law allows:

• the Service is provided "as is" and "as available";
• we are not liable for losses from your trading decisions, from price movements, or from a market's outcome;
• we are not liable for losses caused by events outside our reasonable control, such as the failure of a data feed, network, payment processor or hosting provider;
• we are not liable for indirect or consequential loss, or for loss of profit, opportunity or data;
• our total liability to you for all claims relating to the Service is limited to the greater of (a) the fees you paid us in the 12 months before the event giving rise to the claim and (b) US$100.

This limit does not reduce your right to your balance or to amounts due to you under a trade or a settlement: that money is yours, and we must return it or pay it as these Terms say.

You agree to cover our reasonable losses caused by your breach of these Terms or misuse of the Service.

16. Complaints and disputes

Please read this section carefully. It requires you and us to resolve most disputes by binding individual arbitration, not in court, and it waives class actions and jury trials. You can opt out within 30 days (see "Your right to opt out").

Talk to us first

If something goes wrong, please contact us first at support@tufdog.com with your account email, the market and what happened, following our Complaints & Dispute Resolution procedure. For a settlement or pricing question, we decide by applying the market's rules and the source they name.

Before starting arbitration, you and we agree to try in good faith to resolve any dispute, claim or controversy arising out of or relating to these Terms or the Service (a "Dispute") informally for at least sixty (60) days after the complaining party sends the other a written notice describing it. Notice to us must be sent to legal@tufdog.com. The 60-day period pauses any time limit that applies to the claim.

Binding individual arbitration

• Any Dispute that is not resolved informally will be resolved by final and binding individual arbitration administered by JAMS under its Streamlined or Comprehensive Arbitration Rules & Procedures (the "JAMS Rules"), as applicable. The Federal Arbitration Act governs this arbitration agreement.
• The arbitrator decides every Dispute, including the scope, applicability, interpretation, formation and enforceability of this arbitration agreement, and may award any relief a court could award, but only on an individual basis.
• The arbitration will be held by video or phone unless the arbitrator decides that a hearing in person is needed. An in-person hearing takes place in the US county where you live if you live in the United States, and otherwise in Wilmington, Delaware, or at another location we both agree. Where you qualify as a consumer, JAMS's consumer fee rules apply, and we will pay any filing, administration and arbitrator fees those rules allocate to us.
• If twenty-five (25) or more similar demands are filed against us within ninety (90) days by the same or coordinated counsel, JAMS may apply its mass-arbitration procedures (including bellwether selection and staged hearings) to resolve them efficiently and fairly.

Class-action and jury-trial waiver

You and we each waive any right to a jury trial and any right to bring or take part in a class, collective, mass, consolidated or representative action. Disputes will be arbitrated only on an individual basis. If a court or arbitrator decides this waiver is unenforceable for a particular claim or remedy, that claim or remedy (and only that one) must be brought in court, and the rest of this section still applies.

What is not arbitrated

• Either of us may bring a qualifying claim in a small-claims court instead of arbitration, as long as it stays in that court and proceeds on an individual basis.
• Claims for an injunction or other equitable relief to stop the actual or threatened infringement or misuse of a party's intellectual-property rights.
• Any matter that the law that applies to you does not allow to be arbitrated.

If you live in the EU or the EEA

If you are a consumer living in a member state of the European Union or the European Economic Area, the arbitration agreement, the class-action and jury-trial waiver and the opt-out above do not apply to you. You may bring proceedings against us in the courts of the country where you live, and we may bring proceedings against you only in those courts. You may also take part in any representative action that the law of your country allows, and use any alternative dispute-resolution body available to you there.

Your right to opt out

You may opt out of this arbitration agreement by emailing legal@tufdog.com with the subject line "Arbitration Opt-Out" within thirty (30) days of first accepting these Terms. Your notice must include your name, the email address of your Tufdog account and a clear statement that you wish to opt out. Opting out does not affect any other part of these Terms.

Governing law and courts

These Terms, and any non-contractual obligations arising out of or relating to them, are governed by the laws of the State of Delaware, United States, without regard to its conflict-of-laws rules. For any matter that is not arbitrated and is not within the jurisdiction of a small-claims court, you and we agree to the exclusive jurisdiction of the state and federal courts located in Wilmington, Delaware — except as set out under "If you live in the EU or the EEA".

Your rights as a consumer

If you are a consumer, nothing in these Terms takes away any protection that the mandatory law of the country where you live gives you and that cannot be excluded by agreement — even though these Terms are governed by Delaware law. You can stop using the Service and close your account at any time.

Your right to withdraw (EU and EEA consumers)

• If you are a consumer living in the EU or the EEA, you may withdraw from these Terms within 14 days of the day you accepted them, without giving any reason and without any penalty. To withdraw, send us a clear statement that you are withdrawing — for example by email to support@tufdog.com — before the 14 days end. You may use any withdrawal function we provide in the Service.
• If you trade during those 14 days, you are expressly asking us to provide the Service straight away.
• The right to withdraw does not apply to individual trades. Every contract and position you trade on Tufdog is a financial service whose price depends on fluctuations in the market that are outside our control and may occur during the withdrawal period, so a trade cannot be cancelled once it has been executed.
• If you withdraw, we cancel your open orders and close your account, and we return your available balance to you, as set out under "Withdrawals", without undue delay and in any event within 30 days of receiving your notice. We charge no fee for withdrawing.

Wherever else you live, if the law of your country gives you a right to cancel that cannot be excluded, you keep it — but a trade that has already been executed cannot be cancelled, for the same reason.

17. Changes to these Terms

We may update these Terms — for example when we add features, when the law changes, or to make them clearer. We will tell you about a material change by email or on the Service at least 14 days before it takes effect, and may ask you to accept the new Terms before you trade again. A change the law requires, or that is needed to protect the security of the Service or of members, may take effect immediately; we will tell you about it as soon as we can. A change never applies to a trade you made before it took effect. The version and effective date are shown at the top. If you do not agree to a change, you can close your account.

18. General

• These Terms, and the documents they refer to, are the whole agreement between you and us about the Service.
• If a court finds part of these Terms unenforceable, the rest still applies.
• If we do not enforce a right straight away, we can still enforce it later.
• You may not transfer your rights under these Terms. We may transfer ours to a company that takes over the Service, and your rights will not be reduced as a result.
• We will contact you by email or on the Service. You agree to receive notices electronically.

19. Contact us

Support: support@tufdog.com. Legal notices (including an arbitration opt-out): legal@tufdog.com.

Tufdog's registered company details will be published on this page once Tufdog is registered. Until then, you can send any notice to us at support@tufdog.com.