this is a problem  you dont get to decide to confirm or reject a wager where money is sent up front and confirmed.

that needs to be eliminated imo if you are going to grow.  

a minute in horse racing is forever!  

"As soon as we receive your bet, we will either confirm or reject it within a minute"  
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I have had wagers I put in with the pick your negociated price option.  well before the gates open and when your screen shows the race is yet to jump...  The price of my horse does not creep up to where I need it so should be no play..but then you guys get the transaction and wait the minute and all of a sudden im confirmed at my price  in the LIVE racing portion of your offereings, whicih I dont want at all cause if the odds start to climb then your screwed, and those bets have been accepted and graded a loss..  they were small wagers and buyer beware but that is a major flaw to your advantage in your set up there.  

far as I can tell you cant cancel a best offer price so if this happens your screwed..  and thus this statement you made below is 100% not true  
If the event is already over by that time, your bet will be refunded regardless of the result.

please dont take these comments as a negative condemnation, what you have is unique and Im figureing out the flaws and sorting it all out.  but imo you need several improvements if you are going to draw in serious volume and members in horses..