5.1 Colossus Fantasy may at any point during the Contest Period offer Players the opportunity to cash-out the whole or a portion of an Entry which may still, potentially, contain a winning Line (“Live Entry”). For Syndicate Entries (described in more detail at clause 6 below) only the Syndicate Captain will have the ability to cash-out.
5.2 The availability of cash-out offers can never be guaranteed and during periods when typically cash-out offers would be available cash-out offers may be unavailable or inaccessible for technical, operational or any other reason. Periods during which cash-out offers will typically be available include after the conclusion of one Leg in a Contest and before the commencement of the next Leg, or for some sports including NFL, during the half-time period in any given Leg, assuming no other leg of the Contest is live at that time. For the avoidance of doubt, cash-out offers will be unavailable during live play in a relevant event.
5.3. No player will be offered a cash-out value on their Entry until the minimum criteria of at least two active players, teams or fixtures have been met e.g If concurrent Legs are ongoing during Leg 2 of a Contest, a cash-out offer will be made available to a customer once all concurrent Legs have been completed (subject to a player still being active for either the win or consolation prize). In the event that multiple Legs of a Contest begin at the same time e.g multiple NFL games involving 3 listed players of a Contest begin at 1pm ET, if the Legs are concurrent, a cash-out offer may be available at Half Time of Legs 1 to 3 of this Contest as 2 or more players are active within said Contest.
Pricing a Live Entry
5.4 In its offer to purchase a Live Entry (“Offer”,) Colossus Fantasy shall provide to the Player an offer value to purchase any 10% increment of the Live Entry up to 100% (“Offer Value”).
5.5 The Offer value shall be determined by Colossus Fantasy acting at its sole discretion.
5.6 Offer Process
- The Player will be notified of an Offer via his/her/their Account.
- Following receipt of an Offer, the Player shall have the period between the making of the Offer by Colossus Fantasy and the lapsing of the Offer to decide whether to ACCEPT the Offer (C) or REJECT the Offer (D). Colossus Fantasy reserves the right to revise or withdraw an Offer that has not been accepted. All Offers automatically lapse on commencement of the next period of live play.
- If the Player accepts an Offer for 100% of a Live Entry all rights in the Entry will be assigned to Colossus Fantasy and the Offer Price shall be transferred into the Player’s Account as soon as is reasonably practicable. See clause 5.7 below on selling a portion of a Live Entry.
- If the Player rejects an Offer (or takes no action in respect of the Offer) the Player will retain full ownership of the Live Entry and accordingly retain his/her/their chance to win or share the relevant prize funds.
5.7 For the avoidance of doubt, once a Live Entry is fully cashed-out you will no longer be able to win any additional prize in respect of that Entry. If any selections on that Entry are ultimately successful, Colossus Fantasy will be entitled to the relevant Win Contest dividend (together with any Consolation prize dividends) that you would have been entitled to had you not sold the Live Entry.
Cashing-out a portion of a Live Entry
5.8 Where a Player accepts an Offer from Colossus Fantasy to cash-out a portion (“Portion”) of a Live Entry rather than the full 100% of the Live Entry, all rights in the Portion will be assigned to Colossus Fantasy and the Offer Price will be transferred into the Player’s Account as soon as is reasonably practicable.
5.9 The Player shall retain ownership of the remainder of the Live Entry and if the Live Entry is successful the Player will be entitled to such percentage of the amount of the Win Contest (together with the same percentage of any Consolation Contests) applicable to his/her/their retained share of the Live Entry.
Worked Example:
Player A cashes-out a 20% Portion and subsequently a 30% Portion (so 50% in total) of a full unit Live Entry. The Live Entry is a correct prediction of specific player performance metrics in all Legs in the Contest Period which proves to be a winning Entry for the purposes of the Win Contest. There is one other full unit Win Contest winning Entry in the Game (held by Player B).
The net Win Fund holds $1,000,000.
Win Contest: $1,000,000 ÷ 2 (as 2 winners) = dividend of $500,000
50% of $500,000 (Player A’s retained share in Live Entry) = $250,000
Player A’s Win Fund share: $250,000
5.10 Where an Offer which has been accepted by a Player (in full or in part) has been made by Colossus Fantasy based on erroneous information (for example based on a player performance metric score being under 25.5 total points scored when the player has in fact exceeded this total point line) or as a result of a technical failure, Colossus Fantasy reserves the right to void any such Offer or to adjust the cash-out amount payable. Any such adjusted cash-out payment will be based on the accurate score/result at the time of the erroneous Offer being made and the consequent revised value of the relevant Entry at that time.
5.11 Where an Offer which has been accepted by a Player (in full or in part) has been made by Colossus Fantasy on the basis that all scheduled Legs in a Contest will be completed (and therefore any guarantee and rollovers are factored into such an Offer), but all such Legs are not completed, Colossus Fantasy reserves the right to adjust the cash-out amount payable. Any such adjusted cash-out payment will be based on the revised value (given the amounts available to be won in the applicable Contests and the revised likelihood of success) of the relevant Entry at the point the Offer was made.
5.12 A leg of any given Contest shall be deemed active if the player listed with regard to the associated player statistical metric of a Contest plays any part of the event for which the listed statistical metric relates to e.g. If Draymond Green only plays 5 seconds of a game which relates to a listed statistical metric that forms a Leg of a Contest, the Leg will be deemed to be active and metrics on that Leg settled accordingly.
5.13 In the event a player involved in a Contest becomes unavailable before that Leg begins, Colossus Fantasy maintains the right to remove any cash-out offers based on that Contest until clarification is sought on the availability of said player. Any rollovers may be removed and guarantees amended as per our Settlements, Abandonments and Postponements section in respect of the player if he is confirmed to be unavailable for the game in question.
5.14 If a Contest is voided entirely, all Offers accepted by Players in such a Contest will be voided.
