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Betting Exchange: Private Bets


Does the "private bet" option for the betting exchange work, maybe I misunderstand how it's supposed to work?

I created a private bet created between myself and another member, and guests (because their permission allows viewing the betting exchange) and other members can see it, before and after it was accepted by the other member.

Or perhaps these can be viewed because I have the "Find New Bets - Status Types" set to "Pending, Open, Accepted, Awaiting Settlement, Settled"?