Betting Browser

Terms and Conditions

1. Introduction


1.1

The purpose of these Terms & Conditions and Betting Rules is to detail the conditions under which bets are accepted by the Betting World On-Line service. These include the types of bets available, the betting markets, maximum winnings, settlement of any winnings and statutory requirements that Betting World are required to adhere to. It is the customer's responsibility to ensure that they are fully acquainted and familiar with the rules, terms and conditions under which bets are transacted.

1.2

Any changes to these rules will be posted on the website and where possible, customers will be notified of such changes via e-mail however, it remains the responsibility of the customer to ensure that they are aware and understand the current rules. Should you have any query regarding these rules, require clarification or advice, kindly e-mail your request to [email protected]

2. FICA Requirements

2.1

Betting World is an accountable and reporting institution and we are bound to comply and adhere to stringent FICA requirements which includes implementing controls relating to the establishment of a business relationship. These stringent requirements include ( client identification and verification ) , i.e

  • Identifying all customers
  • Verifying all information gathered in the identification process
  • Keeping records of all information and documentation
  • Reporting of CTR ( Cash Threshold Reporting )
  • Reporting of STR ( Suspicious and Unusual Transactions Reporting)

 

2.2

The following information below is mandatory when establishing a new business relationship with Betting World upon activation of your account.

  • A copy of your Identity document , SA ID card , valid and unexpired passport.
  • Proof of residence not older than 3 months ( utility bill , municipal rates and taxes , Telkom bill or retail statement )

 

2.3

For pay out purposes the customer must provide proof of banking ( cancelled cheque , bank statement or letter from bank ) confirming banking details , as Settlements or payments will only be made in the name of the account holder and not to third party in any circumstance.

3. The Act

3.1

To establish a Financial Intelligence Centre and a Money Laundering Advisory Council in order to combat money laundering activities; to impose certain duties on institutions and other persons who might be used for money laundering purposes; to amend the Prevention of Organised Crime Act, 1998, and the Promotion Of Access to Information Act , 2000; and to provide for matters connected therewith.


3.2


More information regarding the FICA Act can be found at http://www.acts.co.za/fica.

4. Dispute Resolution

4.1

Whenever Betting World refuses to pay alleged winnings to a customer or a customer refuses to pay an alleged debt to Betting World, for any reason, and Betting World and the customer are unable to resolve the dispute to the satisfaction of both parties: Betting World will inform the customer that the dispute will be referred to the Board for resolution, after which Betting World will, within forty-eight hours, refer the dispute to the Board.

4.2

The customer is not precluded from lodging a complaint directly with the Board. The Board shall conduct whatever investigation it deems necessary to resolve the dispute and shall serve a written notice on Betting World and the customer, informing them of the Board’s resolution. The resolution of the Board shall become effective on the date when the parties receive a written notice of the resolution.

5. Maximum Winning

5.1

A bet is accepted on the understanding that it is the investment of one customer and the maximum amount that one customer may win on one days trading, irrespective of the stake is listed below.

5.2

Where bets have been transacted on different days, the 'maximum amount that one customer may win on one days trading' is determined by the day that the final event / market is resolved and not on the individual day on which each bet was transacted.

5.3

Should a number of bets, containing the same selections be placed by one or more account holders, and Betting World has reason to believe that these bets originated from the same customer or syndicate of customers, Betting World reserves the right to limit the total payment of all such bets to the maximum amount that a single customer may win on one days trading.

6. Acceptance of Bets

6.1

Bets must be made online at the Betting World online website. Other methods of placing a bet include : Mobile betting , Utilising our call centre facilities and over the counter at any Betting World outlet countrywide .Any other medium will not be accepted and should any bets be received in such mediums, they will be classed as "void" immaterial to whether they win or lose.

6.2

Bets are only accepted as valid bets, placed according to these rules, once a transaction code / ticket has been logged in the Betting World Online server. If you have any doubts as to whether a bet is valid, you should view your list of "pending" bets. Once a transaction code / ticket has been logged, bets may not be cancelled under any circumstance. It is therefore imperative that customers understand that it is their responsibility to ensure that the details of bets are correct. In the event of any dispute, both the customer and Betting World agree that the transaction log database will act the final authority in determining the outcome of such dispute.

6.3

In order to manage our liabilities, Betting World reserves the right to suspend, close and notify any customer of duplicate accounts. Betting World further reserves the right to refuse the whole or part of any bet without offering any explanation.

6.4

Any bet accepted after the start of an event and is not identified as "IN RUNNING" or "IN PLAY" will be made void. In the event of any dispute over the time at which a bet was placed, the time recorded in the Betting World transaction log will be the determining factor.

6.5

The placing of bets by any person under the age of 18 is prohibited by law and the right to void any transactions with persons under this age is retained.

6.6

The access to and/or betting on the web site may not be legal for some persons in certain countries. Betting World does not intend that the web site should be used for betting or any other purpose in countries or jurisdictions where such activities are illegal. The web site does not constitute any offer, solicitation or invitation to any person for any service or transaction where such activities are prohibited by law. It is the responsibility of each individual to understand and determine the law that applies to the jurisdiction in which they are present and Betting World cannot accept any responsibility under any law in any jurisdiction other than that of South Africa and specifically the licensing jurisdiction of the Gauteng Gambling Board .Betting World make no guarantee to the availability of the web site, market, event or prices contained in this service.

6.7

All winning bets are subject to the relevant betting tax.

7. Internet Maximum Liability Per Market

7.1

With the Betting World Internet and Mobile services being operational 24 hours a day , the following default limits are applicable to new accounts opened , to enable us to manage our risk adequately . Betting World reserves the right to adjust these limits should the necessity arise in the future.

7.2

Single Win subject to a R20 000 win limit per bet per client, Single Place subject to a R10 000 win limit per bet per client, Multiple bets subject to R30 000 win limit per bet per client. Exotics bets subject to R120 000 win limit per bet per client and First timer subject to a R5 000 win limit per bet per client. Should any bets be erroneously accepted above this limit , these bets will be adjusted back to the limit at the same odds whether they are winning or losing bets . Your account will be journaled accordingly as well.

8. Security & Legality

8.1

Betting World, employees, agents and shareholders accept no responsibility or liability for any damages or loss that may result, or be alleged to have resulted from this web site, or its contents including interruptions in transmission or operation, loss or corruption of data, failure of lines or any other communication medium, any individual misuse of the site or its content or any error or omission in content.

8.2

After your account has been opened, your user name, account number and password must remain confidential and secret to yourself. All transactions where your user name and password have correctly been entered will be regarded as valid.

8.3

It is the customer responsibility to advise Betting World of any change of address or contact detail. Betting World and the Betting World Online web site are licensed under the Gauteng Gambling and Racing Board.

8.4

Foreign Exchange regulations limit the extent to which Betting World may offer this online betting service and we are currently restricted to individuals who hold active bank accounts within South Africa and in the currency of South African Rand.

8.5

Regulations with regard to FICA requirements dictate that Betting World identifies and validates customers .You will be requested to provide documentary evidence of identity and residency upon activation of your Betting World account .

8.6

Excluded persons are not permitted to gamble . An excluded person: means a person who has registered (National Register of Excluded Persons) as such in terms of section 14 in order to be prevented from engaging in any gambling activity.

8.7

Betting World aims at maintaining good business relations with our clients. In the event of any breach in our Terms and Conditions and Gambling rules , Betting World reserves the right to refuse the acceptance of the bet and suspend the account. After investigation of such breach has been concluded, Betting World will determine whether the client relationship will continue or the account will be closed .

8.8

Betting World is an accountable and reporting institution and we are bound to adhere to FICA requirements, therefore we are obliged to report any unusual and suspicious transactions to the Financial Intelligence Centre. Any persons attempting fraudulent activity will be prosecuted and any bets fraudulently placed with Betting World will be null and void.

9. Settlements and Payments

9.1

Bets are settled according to the odds/price displayed at the time the bet is transacted and where possible will be reflected on the transaction detail. Fixed price bets will be subject to the relevant run/deduction applicable to that particular event.

9.2

Settlement or payments will be made in the name of the account holder and not to any third party in any circumstance. Payments will be made electronically directly into the customers account and may take up to 24 hours to reflect in the customers account. Payments will be activated Monday to Friday during the hours of 10h30 to 16h00.

9.3

Betting World reserves the right to claim back any funds that have been mistakenly credited to a client's account.

9.4

Deposits will be accepted into the following bank accounts in the name of Betting World - Online, and will be credited to the "on-line betting" account once funds have cleared.

  • ABSA
    • Account Number: 4062802848
    • Branch Code: 632005
  • First National Bank
    • Account Number: 62085896797
    • Branch Code: 221426
  • Nedbank
    • Account Number: 1454086106
    • Branch Code: 145405
  • Standard Bank
    • Account Number: 050270001
    • Branch Code: 040026

 

9.5

All account information and transaction records held by Betting World is housed in a secure data center and remains confidential.

10. Related Events / Contingencies

10.1

Multiple bets are not accepted where the outcome of one part of the bet contributes or determines the outcome of another part of the bet. In the event that a bet is accepted in error, the stake of the bet will be divided equally on the respective markets.

10.2

Example: Manchester United to win in 90 minutes (price even money 1/1) AND Manchester United to win with exact score of 2-0 (price 7/1) will erroneously return a multiple price of 15/1. A bet of 1500/100 will be corrected to two bets, namely R 50 on Manchester to win in 90 minutes (price 1/1 bet would be 50/50 ) and a bet of R 50 for Manchester to win with exact score 2-0 (350/50).

11. Competition Rules

11.1

Any competition prize awarded by Betting World will not be redeemed for cash unless an amount equal or greater to that particular prize has been deposited or won on the Betting World online platforms, i.e. for every R100 awarded, the same amount must be either deposited into the winners account by the account holder or winnings totalling that amount must be gained.

12. BETTING WORLD RIGHTS

12.1

Betting World reserves the right to -

  • 12. 1. 1. accept an application for a new account;
  • 12. 1. 2. decline an application for a new account for any reason whatsoever, or
  • 12. 1. 3. cease accepting bets from a Customer in its sole discretion for any reason whatsoever, which reason Betting World shall not be obliged to furnish or disclose to the Customer or any other person, and

 

12.2

Betting World shall decline an application for a new account if -

  • 12. 2. 1. the account application form has not been completed in full, and/or
  • 12. 2. 2. the information contained in the account application form is found to be incorrect or subject to a material omission, and/or
  • 12. 2. 3. any information required to be submitted in conjunction with the application form, or requested by Betting World prior or subsequent to the submission of the application form is not provided by the Customer in the manner or format or within such timeframes as Betting World may specify.

 

12.3

Betting World shall have the right -

  • 12. 3. 1. prior to accepting any bet, temporarily to suspend, or
  • 12. 3. 2. at any stage, permanently to terminate, the furnishing of betting services to a Customer without providing any reason. Upon such suspension or termination –

 

    • 12. 3. 2. 1. Betting World shall upon the demand of the Customer, refund to the Customer the balance of any monies held by Betting World on deposit for the Customer, after adjusting for losses, winnings and taxes and once such funds have been cleared into its bank account; and
    • 12. 3. 2. 2. any amounts owing by the Customer to Betting World shall become payable immediately.

     

12.4

The Customer shall upon written notice to Betting World be entitled to terminate its contractual relationship with Betting World at any time after final conclusion of any betting transaction placed by the Customer and after payment by the Customer of all amounts owing by the Customer to Betting World. Betting World shall within a reasonable time after such termination, refund to the Customer the balance of any monies held by Betting World on deposit for the Customer, after adjusting for losses, winnings and taxes.

12.5

Betting World shall accept no further bets from a Customer in respect whom the provision of services pursuant to these Terms and Conditions has been terminated, unless and until a fresh account application form has been submitted by the Customer and accepted by Betting World.