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Why does the bet take a few seconds to settle after the market is closed?

Because the traders have to acknowledge the closing price of each and every market before confirming the settlement price of the bet. However, bets are settled against the relevant market levels - not at an arbitrary ChoiceOdds price.

ChoiceOdds is licensed and regulated by the UK Gambling Commission. License no. 000-002667-R-103780-001