General Terms And Conditions

 

1. Introduction

1.1 The purpose of these Terms & Conditions and Betting Rules is 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 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 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 support@Bettingworld.bet

2. FICA Requirements

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

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 third party in any circumstance.

3. The Act

3.1 Establish a Financial Intelligence Centre and a Money Laundering Advisory Council in order to combat money laundering activities; time pose certain duties on institutions and other persons who might be used for money laundering purposes; the Prevention of Organised Crime Act, 1998, and the Promotion Of Access Information Act, 2000 and 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 ta 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 the satisfaction of both parties: Betting World will inform the customer that the dispute will be referred the Board for resolution, after which Betting World will, within forty-eight hours, refer the dispute 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 day’s 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 day’s 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 the maximum amount that a single customer may win on one day’s 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 , Utilizing our call center 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 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 Errors and Omission

6.4.1 Betting World will take all possible steps to prevent errors and omissions from arising, irrespective of how these may occur. These errors or omissions may include, but are not limited to, failure of the computer system to reject certain betting transactions which are, in fact, invalid.

6.4.2 Examples of these types of errors are:

6.4.2.1 Related bets or betting transactions which exceed stated limits; or
6.4.2.2 The reflection of incorrect betting odds, handicaps and/or betting selections.

6.4.3 In the event of an error or omission, Betting World is entitled to:
6.4.3.1 correct the error or omission; or
6.4.3.2 cancel the betting transaction.
6.4.3.2.1 In the event of a cancellation, Betting World may cancel the betting transaction before, during or after the event has taken place.

6.4.4 In the event of an error or omission, Betting World will make every effort to notify its customers, via email, of such error or omission, informing them of any correction or cancellation.

6.4.5 Failure by the customer to receive such correspondence timeously, or not at all, shall not entitle the customer to claim that a valid and binding betting transaction exists.

6.4.6 Any customer who suspects that an error or omission may have arisen and which may result in an invalid betting transaction, should contact Betting World in order to verify the validity of the betting transaction.

6.4.7 Betting World reserves the right to amend any results which were previously incorrectly processed and which resulted in the customer’s account being credited in error. In such event Betting World is entitled to adjust the customer’s account accordingly.

6.4.8 If the customer has insufficient funds in his/her betting account, then Betting World reserves the right to debit the customer’s betting account in order for Betting World to recover any funds paid the customer as a result of any error or omission.

6.4.9 Betting World’s online platform is regulated by the Mpumalanga Economic Regulator. In terms of gambling legislation Betting World must display a notice which states that all bets are subject the Bookmaker’s Betting Rules, which are available on request. According to clause 6.3 of the Betting World Terms and Conditions entitles Betting World to refuse the whole or part of any bet without offering any explanation.

6.5 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.

6.6 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.

6.7 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 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 Mpumalanga Economic Regulator. Betting World make the availability of the web site, market, event or prices contained in this service.

6.8 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, tenable 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 ta R20,000 win limit per bet per client, Single Place subject ta R10,000 win limit per bet per client, Multiple bets subject tR30 000 win limit per bet per client. Exotics bets subject to R120000 win limit per bet per client and First timer subject ta R5,000-win limit per bet per client. Should any bets be erroneously accepted above this limit, these bets will be adjusted back 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 username 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 Mpumalanga Economic Regulator

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 the 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 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 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 the relevant run/deduction applicable 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 in the customer’s account and may take up t24 hours to reflect in the customer’s account. Payments will be activated Monday to Friday during the hours of 10h30 t16h00.

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

9.4 Deposits will be accepted in the following bank accounts in the name of Betting World - Online, and will be credited 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 twin in 90 minutes (price even money 1/1) AND Manchester United twin 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, namely R 50 on Manchester twin in 90 minutes (price 1/1 bet would be 50/50) and a bet of R 50 for Manchester twin 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 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 in the winners account by the account holder or winnings totaling that amount must be gained.

12. BETTING WORLD RIGHTS

12.1 Betting World reserves the rights 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 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 the incorrect or subject ta material omission, and/or
12.2.3. any information required the submitted in conjunction with the application form, or requested by Betting World prior or subsequent 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 terminate, the furnishing of betting services ta Customer without providing any reason. Upon such suspension or termination –

12. 3.2.1. Betting World shall upon the demand of the Customer, refund 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 in one’s 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 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 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 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.
 

13. Betting World Revised Limits (Sports and Horseracing)

Disclaimer: Betting World Revised limits (Sports and Horseracing) is only applicable to Betting World branches, Club Elite Members and Customers utilizing the Call Centre facilities only. (Not applicable to account holders who might have different limits afforded them by Betting World already)
Betting World reserves the right to change these terms and conditions without notice. Please check for updates tour terms and conditions at any time by visiting this page. Last update 25 January 2019.

 

Horse Racing

Ante Post: Days leading up tthe carded day of the race meeting.

Ante Post Branch betting limits
WIN LIMIT
PLACE LIMIT
Single bets
R 30 000
R 15 000
1st time Juveniles
R 10 000
R 5 000
1st Timer
R 20 000
R 10 000
1st Timer Multiple
R 50 000
R 25 000
Multiple Bets 2+ legs
R 100 000
R 50 000
Yankee type bets
R 250 000
R 100 000
 
Day of the race after 10.30 AM Branch betting limits
WIN LIMIT
PLACE LIMIT
Single bets
R 50 000
R 25 000
1st time Juveniles
R 15 000
R 10 000
1st Timer
R 30 000
R 20 000
Doubles
R 150 000
R 50 000
Any other multiple bets
R 250 000
R 100 000
Yankee type bets
R 300 000
R 100 000
 
 
 
Any 2, Exact 2, Any 2 of 3, Any 2 of 4
R 30 000
 
Any 3, Exact 3, Any 3 of 4
R 60 000
 
Any 4, Exact 4
R 120 000
 
 
Ante Post Club Elite limits
WIN LIMIT
PLACE LIMIT
Single bets
R 50 000
R 25 000
1st time Juveniles
R 20 000
R 10 000
1st Timer
R 30 000
R 15 000
1st Timer Multiple
R 100 000
R 50 000
Multiple Bets 2 legs or more
R 200 000
R 100 000
Yankee type bets
R 500 000
R 200 000
 
Day of the race after 10.30 AM Club Elite limits
WIN LIMIT
PLACE LIMIT
Single bets
R 100 000
R 50 000
1st time Juveniles
R 50 000
R 20 000
1st Timer
R 50 000
R 20 000
Doubles
R 200 000
R 100 000
Any other multiple bets
R 500 000
R 200 000
Yankee type bets
R 1 Million
R 200 000
Any 2, Exact 2, Any 2 of 3, Any 2 of 4
R 30 000
 
Any 3, Exact 3, Any 3 of 4
R 60 000
 
Any 4, Exact 4
R 120 000
 
 
SPORTS

Sports limits are determined according tthe manner in which the bet is tbe captured.

Bet Type
WIN LIMIT
Single bets
 
Match play bets
R 100 000
Outright / tournament bets
R 200 000
 
 
Doubles
 
Match play bets
R 200 000
Outright / tournament bets
R 300 000
 
 
Other multiple bets
 
Match play bets
R 200 000
Outright / tournament bets
R 500 000
 
Manually captured sports bets

Electronically captured multiple sports bets (soccer coupons)

Bet Type
WIN LIMIT
3 - 7 teams
R 100 000
8 - 15 teams
R 500 000
16 - 30 teams
R 1 000 000
31 - 50 teams
R 1 500 000
 
14. Daily Booster
 

- If a participant is scratched from the selected Daily Multiple Booster then all bets will be recalculated accordingly.

- Deduction rules apply.

- Maximum Win amount R50 000 per person.

- Betting World has the right to cancel or withdraw this offer or change any of its terms at any time and without cause/notice. Right of participation reserved.

- Every Betting World account holder participating in the promotion shall be deemed to have acknowledged and accepted the rules by virtue of their participation.

- This promotion is intended for recreational punters; clients found the abusing the spirit of the promotion will not qualify for refunds.

 

 

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