Data Retention & Disposal Policy
Last Updated: December 2, 2025
This Data Retention and Disposal Policy outlines how Handshake Bets, Inc. ("Handshake") retains, stores, and securely disposes of user data collected through our peer-to-peer betting platform. This policy complies with applicable privacy laws and financial regulations.
1. Purpose
We retain user data only as long as necessary to:
- Provide and improve our betting services
- Comply with legal and regulatory requirements
- Resolve disputes and enforce our Terms of Service
- Prevent fraud and ensure platform security
- Maintain accurate financial records
2. Retention Periods by Data Type
Account Information
Retention Period: Active accounts + 7 years after account closure
Includes: Name, email, profile picture, account settings
Reason: Required for financial recordkeeping and regulatory compliance
Financial and Transaction Data
Retention Period: 7 years from transaction date
Includes: Deposits, withdrawals, bet transactions, wallet history, bank account info (via Plaid)
Reason: Legal requirement for financial records under federal and state law
Betting Activity and History
Retention Period: 7 years from bet settlement
Includes: Bet details, matches, settlement records, expert pool assignments
Reason: Dispute resolution, audit trails, compliance
Communications and Support
Retention Period: 3 years from last communication
Includes: Customer support emails, notifications, in-app messages
Reason: Customer service quality, dispute resolution
Usage and Analytics Data
Retention Period: 2 years from collection
Includes: Device info, IP addresses, page visits, feature usage
Reason: Platform improvement, security monitoring
Marketing Preferences
Retention Period: Until user opts out or account closes
Includes: Email preferences, notification settings
Reason: Respect user preferences, comply with opt-out requests
3. Legal Basis for Retention
Our retention periods are based on:
- IRS Requirements: 7 years for financial records
- Bank Secrecy Act: Anti-money laundering compliance
- State Gambling Regulations: Varies by jurisdiction
- Statute of Limitations: Potential legal claims
- Business Necessity: Operational and analytical needs
4. Secure Data Disposal
When data reaches the end of its retention period, we securely dispose of it using the following methods:
Electronic Data:
- Permanent deletion from production databases
- Removal from backup systems (within backup retention cycles)
- Cryptographic erasure where applicable
- Verification of complete removal
Third-Party Data:
We ensure our service providers (Plaid, Base44) follow secure deletion procedures consistent with industry standards and their SOC 2 certifications.
Important Note:
Data disposal may be suspended if the data is subject to a legal hold, ongoing investigation, or active dispute.
5. User Data Deletion Requests
You have the right to request deletion of your personal data. To submit a deletion request:
How to Request:
Email Nyel1307@gmail.com with "Data Deletion Request" in the subject line.
Processing Time: We will respond within 30 days and complete deletion within 90 days.
Exceptions:
We may retain certain data if required by law, including:
- Financial transaction records (7-year requirement)
- Data subject to legal holds or ongoing disputes
- Anonymized/aggregated data used for analytics
- Fraud prevention and security records
6. Automated Retention Management
Handshake uses automated systems to:
- Track data retention periods based on data type
- Flag data that has reached its retention limit
- Execute secure deletion procedures
- Generate audit logs of all disposal activities
7. Policy Review
This Data Retention Policy is reviewed and updated annually to ensure compliance with evolving legal requirements and best practices. Any significant changes will be communicated to users via email or platform notification.
Contact Us
Questions about data retention or deletion? Contact: