Underdog Fantasy Refer-A-Friend Program

TERMS & CONDITIONS

PLEASE NOTE THAT YOUR PARTICIPATION IN THE PROGRAM (DEFINED BELOW) IS SUBJECT TO THE FOLLOWING TERMS & CONDITIONS. IF YOU DO NOT AGREE TO ALL OF THE FOLLOWING, YOU MAY NOT PARTICIPATE IN THE PROGRAM IN ANY MANNER. PARTICIPANTS IN THE PROGRAM MUST REGISTER AND MAINTAIN AN ACCOUNT WITH UNDERDOG SPORTS, LLC (“UNDERDOG FANTASY”). UNDERDOG FANTASY PROVIDES AN ONLINE FANTASY SPORTS PLATFORM ON THE UNDERDOG FANTASY APP AND MAY ALSO OFFER THE PLATFORM THROUGH A WEBSITE (COLLECTIVELY, THE “SITE”). PARTICIPANTS IN THE PROGRAM MUST ALSO ACCEPT UNDERDOG FANTASY’S TERMS OF USE (“TERMS”), WHICH IN TURN INCORPORATE AND APPLY TO THESE TERMS & CONDITIONS. THESE TERMS & CONDITIONS AND THE UNDERDOG FANTASY TERMS GOVERN AND CONTROL THE PROGRAM INCLUDING YOUR PARTICIPATION IN THE PROGRAM. PLEASE NOTE THAT THESE TERMS & CONDITIONS EXPRESSLY INCORPORATE MANDATORY BINDING ARBITRATION AND CLASS ACTION WAIVER PROVISIONS SET FORTH IN THE TERMS. THE COLLECTION AND PROCESSING OF PERSONAL INFORMATION AS PART OF OR IN CONNECTION WITH PARTICIPATING IN THE PROGRAM IS SUBJECT TO AND GOVERNED BY THE UNDERDOG FANTASY PRIVACY POLICY. ALL APPLICABLE TERMS, POLICIES, AND CONTEST RULES ARE AVAILABLE AT UNDERDOGFANTASY.COM/RULES

Description of Program

Welcome to Underdog Fantasy’s Refer-A-Friend Program (the “Program”), where current Underdog Fantasy users (“Referrer”) can invite/refer new users (“Friends”) to sign up and play on the Underdog Fantasy platform.

Upon a Friend entering the Referrer’s Underdog Fantasy username as the referral code when signing up and registering for a new Underdog Fantasy account and subsequently satisfying the qualifying conditions conspicuously stated in the Program Advertisement (the “Qualifying Action”), the Referrer will receive a promotional reward credited to their Underdog Fantasy account as conspicuously stated in the Program Advertisement (the “Promotion Bonus”). The Qualifying Action may include, but is not limited to, making a deposit (including making a deposit of a certain amount), placing a “Qualifying Entry” (as defined below), and/or reaching a “Cumulative Spend Threshold” on Qualifying Entries (as defined below).

A Qualifying Entry means an Underdog Fantasy contest entry, prediction market trade, or an Underdog Combination or Combo entry paid with deposited funds. An Underdog Combination or Combo entry, as explained further below, is an entry consisting of both an Underdog Fantasy entry and a Prediction Market selection(s). A Cumulative Spend Threshold refers to the total aggregate value of all paid entry fees for Qualifying Entries—excluding promotional credits, bonus cash, bonus funds, bonus entries, or cancelled contests—that a user must reach within a specific timeframe. Entries funded with promotional credit, bonus cash, bonus funds, bonus entries, or any other non-cash funds will be deemed ineligible to meet Qualifying Entry requirements.

PROMOTIONAL REWARDS (WHETHER TERMED “BONUS CASH,” “BONUS FUNDS,” “BONUS ENTRIES,” “PROFIT BOOSTS,” OR OTHERWISE) ARE NOT EQUIVALENT TO CASH DEPOSITS. The Promotion Bonus is subject to turnover or playthrough requirements, time limitations, and other limitations detailed in these Terms & Conditions and as disclosed in the Program Advertisement.

The Qualifying Action and Promotion Bonus are determined by the Program offer in effect at the time the Friend creates their Underdog Fantasy account. Sponsor reserves the right to modify Program offers at any time; however, any such changes will not affect referrals where the Friend has already created an Underdog Fantasy account. Referrer will receive the Promotion Bonus at the time each Friend successfully registers for an Underdog Fantasy account using the correct referral code and satisfies the specific Qualifying Action.

Sponsor

The Program is sponsored by Underdog Sports, LLC (“Underdog Fantasy” or the “Sponsor”). References to “you” or “your” throughout these Terms & Conditions mean the person to whom the Promotion Bonus is issued upon satisfaction of the terms and conditions set forth in these “Terms & Conditions.” Participation in the Program and redemption of the Promotion Bonus are expressly conditioned upon acceptance of and compliance with all of these Terms & Conditions. Program participants may be required to sign paperwork issued by the Sponsor.

Sponsor expressly reserves the right to amend, suspend or terminate this Program at any time without prior notice or consent. Administration of this Program, including, but not limited to, the issuance, delivery, and disbursement of the Promotion Bonus is at the sole discretion of the Sponsor.

As used in these Terms & Conditions, “Program Advertisement” means the description of the Program presented to the participant at the time immediately prior to entering the Program or the code presented to the participant and used to enter the Program, whichever provides for a lower Promotion Bonus. The Program Advertisement may include, but is not limited to an advertisement on television, radio, podcast, social media, by email or direct communication, a website or web browser, within the Underdog Fantasy app (whether on Android, iOS, or otherwise), or in any other manner of presentment, regardless of whether other advertisements provide for different Promotion Bonuses. Underdog Fantasy expressly reserves the right to present different versions of the Program to customers in its sole discretion, for any reason whatsoever, including based upon the manner of the Program Advertisement.

For purposes of these Terms & Conditions, Bonus Funds and/or Bonus Entries mean a dollar equivalent available to the customer as a substitute for entry fees into fantasy sports contests. Bonus Funds and/or Bonus Entries are not cash, cash equivalents, or any other tangible or intangible property of the customer unless and until the turnover or playthrough requirements of the Program and the accompanying Promotion Bonus are met.

Promotion Bonus (whether termed “bonus cash,” “bonus funds,” “bonus entries,” or otherwise) may only be used for fantasy contest entries, and cannot be used for prediction picks, which are event contracts traded on NADEX/Crypto.com Powered by Underdog.

For entries composed of a mix of prediction event contract futures and fantasy sports contest entries (“Combinations” or “Combo”), the following rules apply to the use of a Promotion Bonus/Bonus Funds/Bonus Entries: The initial fantasy entry fee is funded with the Promotion Bonus/Bonus Funds/Bonus Entries. When the customer instructs a withdrawal of the Promotion Bonus/Bonus Funds/Bonus Entries for purposes of funding the prediction event contract future, Underdog waives the turnover or playthrough requirement for the Promotion Bonus/Bonus Funds/Bonus Entries and makes the Promotion Bonus/Bonus Funds/Bonus Entries immediately withdrawable to the customer’s prediction event contract market account, per the customer’s instruction. In the event that the customer subsequently cancels the fantasy sports contest portion of the combination entry, the customer agrees that the total amount used to fund the combination entry from a Promotion Bonus/Bonus Funds/Bonus Entries will be deposited to the customer’s fantasy account as a Promotion Bonus/Bonus Funds/Bonus Entries and subject to a continued turnover or playthrough requirement (i.e., it must be “played through” at least once in a valid entry before becoming withdrawable as cash). Upon cancellation of the fantasy entry, the customer retains as immediately withdrawable and unrestricted funds any amount from the prediction event contract future in excess of the amount of the Promotion Bonus/Bonus Funds/Bonus Entries used to fund the combination entry.

Program Period

The Program begins and ends as described in the Program Advertisement and is subject to amendment, suspension, or termination at any time without prior notice or consent by the Sponsor (the “Program Period”). Specifically, the Program begins when a Referrer invites a Friend who signs up and registers for a new Underdog Fantasy account using the Referrer’s Underdog Fantasy username as the referral code and the Friend then completes the requisite Qualifying Action. The Program ends when the Referrer receives the Promotion Bonus in their Underdog Fantasy account. Friends may email Underdog Fantasy Customer Support at support@underdogfantasy.com within twelve (12) hours of creating a new Underdog Fantasy account and satisfying the Qualifying Action to retroactively apply the Referrer’s referral code.

Eligibility

The Program is only open to individuals who are: (i) at least 18 years of age (19+ in Alabama and Nebraska, 19+ in Colorado for some games; and 21+ in Arizona, Massachusetts, and Virginia); (ii) physically present in a state where Underdog Fantasy operates; and (iii) not enrolled in any U.S. state or Underdog self-exclusion program or on an active cool-off during the Program Period.

You may only earn one Promotion Bonus per Friend. Additionally, Sponsor reserves the right to refuse or otherwise restrict your eligibility to participate in the Program, or any other programs or promotions, for any reason, in its sole discretion, including based on your contest patterns or contest history or if you failed to take advantage of any previous program or promotion in good faith. The invitation to participate in this Program is not transferable. If you were not directly invited to participate in this Program by Sponsor, you are not eligible to participate in this Program. Duplicate accounts will be flagged and the Promotion Bonus will be forfeited, in addition to other adverse action consistent with Sponsor’s Terms of Use and other applicable rules and terms.

Any questions relating to these Terms & Conditions, eligibility, or anything else concerning this Program will be resolved at the sole discretion of the Sponsor and its decisions will be final and binding with respect thereto.

Any participant who is found to be ineligible to play on the Underdog Fantasy platform immediately forfeits the Promotion Bonus and any other awards or offers associated with this Program.

How to Enter

An existing Underdog Fantasy customer (“Referrer”) invites or refers an individual who is not already an Underdog Fantasy customer (“Friend”) to sign up and register for an Underdog Fantasy account using the Referrer’s Underdog Fantasy username in the referral code box. Once the Friend has signed up and registered for a new Underdog Fantasy account using the Referrer’s Underdog Fantasy username as the referral code, the Friend must then complete a Qualifying Action as conspicuously stated in the Program Advertisement during the Program Period. Once the Friend has satisfied the requisite Qualifying Action, the Referrer will receive the Promotion Bonus in their account. Referrer may not withdraw the Promotion Bonus until any applicable playthrough or turnover requirements have been satisfied.

Friends may email Underdog Fantasy Customer Support at support@underdogfantasy.com within twelve (12) hours of creating a new Underdog Fantasy account and satisfying the Qualifying Action to retroactively apply the Referrer’s referral code.

Claiming Promotion Bonus

The Promotion Bonus will be credited to the Referrer’s Underdog Fantasy account within seventy-two (72) hours upon successful completion of the Program’s requirements by the Friend. Promotion Bonus recipients will be solely responsible for all federal, state, and local taxes, and for any other fees or costs associated with the Promotion Bonus received, regardless of whether the Promotion Bonus, in whole or in part, is used. The Promotion Bonus value may be reported for tax purposes as required by law. Sponsor reserves the right to withhold any winnings, as required by applicable law.

Referrer may not withdraw the Promotion Bonus until any applicable playthrough or turnover requirements have been satisfied.

Registration Procedures

To qualify for the Program, you must have an active Underdog Fantasy Account and verify your identity to play on the Site. Creating an Underdog Fantasy account is free. By submitting your information and creating an Underdog Fantasy account, you will be required to agree to the Underdog Fantasy Terms of Use and Privacy Policy, and all other applicable terms and conditions, including these Terms & Conditions. If you do not agree to the Underdog Fantasy Terms of Use and Privacy Policy, you cannot create an Underdog Fantasy account, and thus, you cannot participate in this Program.

Limitations on Participation

In addition to the eligibility requirements above, Sponsor reserves the right to refuse or otherwise restrict your eligibility to participate in the Program or any other programs or promotions for any reason, in its sole discretion, including based on your contest patterns or contest history or if you failed to take advantage of any previous promotion in good faith. This Program is void where prohibited by law.

Order of Funds Used for Entering Contests

The Promotion Bonus awarded when a Friend successfully registers for an Underdog Fantasy account using the correct referral code and satisfies the specific Qualifying Action, in compliance with this Promotion, is non-withdrawable. However, any winnings from fantasy contests entered using the Promotion Bonus are immediately withdrawable subject to the completion of all turnover or playthrough requirements and any other applicable restrictions. When an Underdog Fantasy account has both bonus funds and customer-deposited funds, and that account does not have the ability to select the source of funds to place a contest entry, bonus funds will be applied to entry fees before customer-deposited funds.

For customers who are presented with the option to select either bonus funds or customer-deposited funds to enter a contest, entry fees will be deducted based on the selection made by the customer at the time of entry.

Restrictions on Withdrawal

The Promotion Bonus awarded when a Friend successfully registers for an Underdog Fantasy account using the correct referral code and satisfies the specific Qualifying Action, in compliance with this Promotion, must be played through one time (1x) during the “Turnover Period” (defined below) before any winnings are eligible for withdrawal.

The Promotion Bonus will be forfeited if not used within fourteen (14) days upon issuance by Sponsor (“Turnover Period”). Sponsor may reclaim the Promotion Bonus at any time after the 14-day turnover period has ended, without further notice to the customer. Sponsor does not waive the right to reclaim the Promotion Bonus if it does not automatically reclaim it at the end of the 14-day turnover period, or at any time thereafter.

Cancellation

At any time, should you wish to cancel your participation in this Program and the resulting Promotion Bonus, please contact Underdog Fantasy Customer Support at support@underdogfantasy.com. Cancellation prior to successfully completing the turnover or playthrough requirements associated with this Program and the resulting Promotion Bonus can impact the amount of funds available to you for withdrawal from your Underdog Fantasy account.

Any other funds in your Underdog Fantasy account that are not subject to restriction may be withdrawn upon cancellation. Any bonus funds, bonus entries, or promotional credit that remain in your account are non-withdrawable. Sponsor, in its sole discretion, reserves the right to decline your request to cancel participation in the Program.

Gambling Problem

Must be 18+ (19+ in AL, NE; 19+ in CO for some games; 21+ in AZ, MA, & VA) and present in a state where Underdog Fantasy operates. Terms apply. Concerned with your play? Call 1-800-MY-RESET or visit www.ncpgambling.org

Limitation of Liability

Sponsor is not responsible, and shall have no liability, for any errors or omissions in any advertising for the Program nor shall Sponsor be liable for computer, device, or program malfunctions. Sponsor is not liable for any erroneous issuance of the Promotion Bonus.

Additional Terms for Our California Consumers

Under California Civil Code Section 1789.3, California consumers are entitled to the following specific consumer rights notice: The Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs may be contacted in writing at 1625 N. Market Blvd., Suite N 112, Sacramento, CA 95834, or by telephone at 1(800) 952-5210.

General Information

Waiver and Severability of Terms. The failure of Underdog to exercise or enforce any right or provision of these Terms & Conditions shall not constitute a waiver of such right or provision. If any provision of these Terms & Conditions is found by an arbitrator or court of competent jurisdiction to be invalid, the parties nevertheless agree that the arbitrator or court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of these Terms & Conditions remain in full force and effect.

Statute of Limitations. You and Sponsor agree that any claims or lawsuits, regardless of form, arising out of or related to the Site (including the Program) or these Terms & Conditions or the Underdog Fantasy Terms of Use or Privacy Policy must BE FILED within ONE (1) YEAR of the action, omission, event or occurrence giving rise to the claim or suit, after which such claims will be time-barred and prohibited, without regard to any longer period of time which may be provided by any period of limitation or repose by law or statute. This statute of limitations provision does not apply to residents of New Jersey.

Section Titles. The section titles in these Terms & Conditions are for convenience only and have no legal or contractual effect.

Communications. Users with questions, complaints or claims with respect to the Program may contact us using the relevant contact information set forth above.

Last updated February 20, 2026