PART 2. BECOMING A CUSTOMER OF BETDAQ
1.1 If you are an individual, it is a condition of your opening an account ("Customer Account") that you warrant and represent to us that you are over the age of 18 and that you have the mental capacity to take responsibility for your own actions and can enter into a legally binding agreement with us.
Companies and other entities
1.2 If not an individual, it is a condition of your opening an account ("Customer Account") and using the Services in the course of your business activities that you warrant and represent to us that you are and will remain during the entire duration of your using the Services, a licensed bookmaker or an entity entitled to utilise the Services. If you wish to use our Services in the course of a business, you must inform us of this during the application process by contacting us at email@example.com.
1.3 If you are using the BETDAQ Website in the course of your business activities you will determine if you require any form of licence or authorisation. You will hold a valid licence or authorisation to the extent that one is required.
1.4 In any event, if you use the BETDAQ Website in the course of your business activities, then you are solely responsible for accounting for any general betting duty which may become payable on such activity. If you are in any doubt as to whether your betting activities may constitute bookmaking (in any jurisdiction) and/or whether any general betting duty is payable by you, you should obtain independent legal advice.
2. YOUR LOCATION
2.1 You may not participate in our Services if you are resident in the United States of America and such other territories as we deem non accepted from time to time.
2.2 Customers are responsible for ensuring that they comply with any laws applicable to gambling in their country of residence. We are not responsible for any action which may arise from participating in our Services when in a country in which gambling may be illegal. You must not access the BETDAQ Website and/or open a Customer Account from a location within a jurisdiction that prohibits gambling.
2.3 We reserve the right, for whatever reason and at any time, to close any Customer Account or suspend access to the BETDAQ Website if Customers are found to be in breach of the warranties or undertakings given above. We also reserve the right to block transactions that we suspect are sourced from any non-accepted territory at our discretion.
2.4 If you are in Great Britain, your betting activity will be subject to the regulation of the British Gambling Commission.
2.5 All other customers will be subject to the regulation of the Alderney Gambling Control Commission.
3.2 You are obliged to keep your personal information up to date (including but not limited to your address, meaning your usual place of residence, telephone number and email address) and you consent to further identity verification checks on all changes to your personal information.
3.3 Individuals based in the United Kingdom may only use our services once we have completed all KYC requirements, If the identity details for individuals outside of the United Kingdom cannot be verified within a reasonable timeframe after applying to open a Customer Account and depositing funds, we reserve the right to void any transactions placed during that period and the Customer Account may be frozen. For the Customer Account to be re-activated, you will need to send us copies of any relevant identification documentation, as we may request. If we are unable to satisfactorily verify your identity within a reasonable time-period, we reserve the right to close your Customer Account and withhold any funds held in your Customer Account (to be held until our verification process is complete or subject to our Inactive Account Policy).
3.4 No winnings or refunds will be paid to Customers who have not satisfactorily passed the KYC verification process.
3.5 Companies or other entities registered or established in the United Kingdom will only be able to use our services once we have successfully completed all KYC requirements. We may require disclosure of additional identity details including but not limited to: Regulatory consents or licenses, director/partner identity documents, articles of association, certificate of incorporation, written consent from an officer of an entity
that the entity is able to participate in the Services and any other relevant document that we may reasonably request to ensure identity and consent is achieved.
3.6 We reserve the right, at our own discretion, to conduct checks against registered details of applicants and Customers to ensure the accuracy of information provided and we shall be entitled to demand further evidence as to an applicant's age, capacity to legally contract with us, country of residence or any other information at any time in the future.
4. YOUR AGREEMENT WITH BETDAQ
4.1 You may not avail of any Services until you have applied to join BETDAQ by completing the online registration process on the BETDAQ Website and indicating your acceptance of the Terms and Conditions. BETDAQ reserves the right to refuse any application without any further correspondence or reason.
4.2 To apply to join BETDAQ, applicants must first complete the online registration process set out on the BETDAQ Website. By clicking the "accept" icon on the BETDAQ Website as part of the registration process, you indicate that you accept the Terms and Conditions and you consent to be bound by and to become a party to them and all of their contents (as each may be amended from time to time in accordance with their terms) which governs your relationship with us.
4.3 Each Customer may have only one Customer Account. We reserve the right to suspend Customer Accounts where we suspect that Customer Accounts are duplicates.
4.4 Once registered, a Customer is entitled by BETDAQ to participate in the Services subject always to these Terms and Conditions. 4.5 If the applicants are eligible to join BETDAQ (with eligibility determined in accordance with paragraph 1 above) and the application is successful, they may open a Customer Account and transact with other Customers as described in these Terms and Conditions.
4.6 As part of the application, Customers can choose a username and password. These must be kept confidential as all offers made or accepted using these details will be treated by BETDAQ as valid provided they meet the other criteria for making an offer contained in these Terms and Conditions. You understand that you are liable for all transactions made using your Customer Account and that we accept no responsibility for any misuse of your password by any third party.
4.7 Each Customer is responsible for regularly reviewing their Customer Account details which are contained in the BETDAQ Website under "My Account". If you become aware of any inaccuracies in transaction or contact information you must inform BETDAQ as soon as possible.
5. FUNDING AND WITHDRAWALS
5.1 Customers may place funds in a Customer Account using deposits section and following instructions as may be outlined on the BETDAQ Website from time to time.
5.2 To assist in the timely and successful transfer of funds to and from your Customer Account the Customer should note carefully and follow the instructions that are given within the deposits section of the BETDAQ Website.
5.3 The name and billing address on the credit card, debit card, bank account or other payment method through which a Customer transacts with BETDAQ should be the same as the Customer's registered name and address. . As from 9 April 2020, we will no longer accept deposits using credit cards from customers based in the United Kingdom, whether directly, or indirectly via an electronic service provider or eWallet.
5.4 All transactions with us are denominated in British Pounds Sterling ("£"), Euro ("€"),US Dollar ("$").
5.5 For lodgements in currencies other than the currency of the Customer's Account, BETDAQ will credit the Customer's Account with the amount as settled by its bank.
5.6 The minimum deposit into your Account is £/€/$10 or currency equivalent where relevant.
5.7 BETDAQ do not impose a maximum withdrawal limit but withdrawal limits may be imposed by our payment providers, which may be subject to change and be updated from time to time. Withdrawals may also be subject to internal risk reviews.
5.8 We are required by our British Gambling Commission licence to inform customers about what happens to funds which we hold on account for you, and the extent to which funds are protected in the event of insolvency . We hold funds in a segregated bank account, which is separate from our corporate funds and means that steps have been taken to protect customer funds in such a way that they would not, in the event of insolvency, form part of our assets. This meets the British Gambling Commission’s requirements for the segregation of customer funds at the level: medium protection.
5.9 Except for instances where certain payment providers do not allow for withdrawals, monies may only be transferred back to the originating source of the funds deposited.
5.10 Further to paragraph 3 of this Part 2, you will not be able to withdraw funds from your Customer Account until your identity details have been submitted and fully validated in line with our KYC process or as otherwise required in respect of our regulatory obligations.
5.11 BETDAQ reserves the right to restrict withdrawals from a Customer Account where the Customer Account is the subject of an internal or external investigation with respect to any suspicious or fraudulent activity.
5.12 Promotional amounts that have been credited to your Customer Account by BETDAQ may only be used for participating in the Services and may not be withdrawn. Such promotional amounts may be subject to a separate set of terms and conditions
5.13 You are able to withdraw any funds in your cash balances (this will also include any winnings realised from stakes using your own funds) at any time. However, please note that in circumstances where you withdraw funds in your cash balances that are committed and are being used to stake as part of an active bonus/promotional offer:
5.13.1 where the withdrawal amount requested is less than the full amount in the relevant cash balance, we may charge you a reasonable processing fee (reflecting the processing charges we incur) for processing the withdrawal request. This processing fee will be communicated to you when you make your request to withdraw; and
5.13.2 all corresponding bonus balances and/or bonus pending winnings will be forfeited in full.
6. CLOSING CUSTOMER ACCOUNTS
6.1 You have the right to close your Customer Account at any time. To close your Customer Account you must communicate this to us via telephone, e-mail or letter or by using our "Contact Us" section.
6.2 We reserve the right to close or suspend your Customer Account at any time and for any reason. We will give you notice before doing so, unless circumstances dictate that we legally or practically cannot do so.
6.3 If outstanding offers form part of the balance on a Customer Account such funds will not be released until the offer has lapsed at the actual time of the event or the offer is cancelled or voided in accordance with these Terms and Conditions, or until the offer is matched and the outcome of the contract between the Customers is known, or until any dispute regarding the funds is resolved.
7. INACTIVE ACCOUNT POLICY
7.1 BETDAQ reserves the right to charge a reasonable inactive account fee ("Inactive Fee") to all accounts who have not registered a log in or log out on their Customer Account for 12 consecutive months ("Inactive").
7.2 Before any charges are enacted on your account, we will make all reasonable efforts to inform you that there are funds remaining in your account.
7.3 To prevent the Inactive Fee being charged, simply log into your account. Where your Customer Account has been subject to the Inactive Fee, we will reimburse you the full value of the fee on request at any time up to 12 months after the initial Inactive Fee being applied.
8. WARRANTIES BY YOU TO BETDAQ
8.1 You warrant to BETDAQ the following:
8.1.1 that you are fully and legally entitled to enter into these Terms and Conditions;
8.1.2 that you have full authority to execute these Terms and Conditions;
8.1.3 that your entering into these Terms and Conditions is not illegal in your jurisdiction of residence and you will not use any Services while resident or temporarily located in any jurisdiction that prohibits the use of such services;
8.1.4 that you will take full responsibility for reporting any winnings and/or losses to any relevant tax or other authorities;
8.1.5 that, if an individual, you are over 18 years of age;
8.1.6 that, if you are a corporate entity, your participation in the Services is permitted under your articles of association;
8.1.7 that you will not open another BETDAQ Customer Account or access any other BETDAQ Customer Account or attempt to use any of the Services or BETDAQ Casino for which you have self-excluded and for the duration of any self-exclusion;
8.1.8 that you are acting as a principal and not as an agent on behalf of a third party;
8.1.9 that you are not and never have been an undischarged bankrupt or in a voluntary arrangement with your creditors;
8.1.10 that, if you are a bookmaker, your participation in the Services is not contrary to the terms of your bookmaking licence;
8.1.11 that, if you are a bookmaker, these Terms and Conditions over-ride the terms and conditions of your own business;
8.1.12 that all details provided by you to BETDAQ are accurate and that you will not take steps to conceal your true identity from BETDAQ such as by using pseudonyms, false addresses or taking technical steps to conceal your identity or location;
8.1.13 that you are the authorised Customer of any payment method you use on BETDAQ and that you have never failed to honour a liability on a bet by attempting to charge back a payment made by card for betting services.
8.2 You understand that participating in the Services is speculative in nature and therefore contains a degree of risk. You acknowledge that you are fully prepared financially to undertake such risks and to withstand any losses incurred, and that you are able to sustain the total loss of any Stakes committed by you.
9. INDEMNITIES BY YOU TO BETDAQ
9.1 You agree to indemnify and hold EPS Group and Betdaq Trustee Company Ltd and any of their subsidiaries, affiliates, officers, directors, agents and employees harmless from any liabilities, claims, losses or demands made by any third party arising out of your breach of these Terms and Conditions or out of your violation of any law or the rights of any third party.
9.2 You acknowledge that BETDAQ will hold information with respect to your identity, including, but not limited to, your name, address and payment details. You agree that we rely on this information in entering into these Terms and Conditions with you and you agree to hold us harmless against any falsehood or inaccuracy contained in the information you provide.
9.3 You agree to indemnify us for any losses, costs or expenses which may be incurred by us as a result of any errors contained in instructions submitted by you, any unauthorised or unlawful use of the Services or any payment card charge-backs which may be effected for any reason whatsoever on amounts transferred by you to your Customer Account.
9.4 If, through use of the Service, a Customer causes BETDAQ to publish, whether on the BETDAQ Website, via email or otherwise, potentially defamatory, illegal, obscene or offensive material, that Customer agrees that he/she shall be solely liable for the publication of such material and that he/she will indemnify BETDAQ for all costs, penalties, liabilities and charges incurred by it in relation to such publication.
9.5 All amounts due under the Terms and Conditions shall be paid by you to us in full without any set-off, counterclaim, deduction or withholding (other than any deduction or withholding of tax as required by law).
10. FRAUD, HACKING
10.1 The BETDAQ Website should not be hacked into, altered or be compromised by Customers in any way. Any such behaviour will lead to the closure of a Customer Account.
10.2 Any Customer who uses the BETDAQ Website for criminal or fraudulent activities or to, directly or indirectly, use the Exchange to attempt to make or accept offers on behalf of any third party or use the Sportsbook to attempt to place bets for or on behalf of any third party will have his/her Customer Account terminated in accordance with paragraph 18 of this Part 2.
10.3 BETDAQ reserves the right to void any or all bets made by any Customer acting in an attempt to defraud it where there is any evidence of price, race, match or event rigging (including but not limited to the mis-use of Bots) or in the case of a rule breach applied by the governing body of the sport concerned. Where such evidence exists of rigging, or some other act which has unfairly affected the result, or where there is evidence of a series of bets each containing the same selection(s) having been placed by or for the same individual or syndicate of individuals, BETDAQ reserves the right to make bets void or withhold payment of returns pending the outcome of any subsequent investigation.
11. COMPLAINTS AND DISPUTES
11.1 By "complaint" we mean a complaint you have about any aspect of our conduct in relation to your dealings with the Services and by "dispute" we mean either a complaint or a disagreement relating to the Services or the outcome of a gambling transaction on BETDAQ Casino which are not resolved through the Complaints Procedure. 11.2 If you have a complaint, you should in the first instance contact the Customer support team using the details provided on the Website, where your complaint can be registered and recorded. Complaints should be made as soon as possible after circumstances arise that cause you to have a complaint. You should receive an acknowledgement of the receipt of your complaint within 24 hours from the time we have received your complaint as set out above.
11.3 We are committed to resolving any query or complaint about our products or services in an efficient manner and we will use all reasonable efforts to resolve a Complaint promptly. If for some reason you are not
satisfied with our resolution of your complaint, you have the right to escalate the matter as set out in our Dispute Resolution Policy
11.4 We reserve the right to record all communications with you and any other person regarding complaints or disputes. If there is a dispute as to the contents of any such communication, reference will be made to such records and to our transaction database which, in the absence of any contrary evidence, shall be decisive.
11.5 You are reminded that under other provisions of these Terms and Conditions both you and we have the right to close or suspend the operation of your Customer Account and that this may happen whilst a complaint or dispute is pending.
11.6 You accept that any complaint or dispute shall remain confidential both whilst a resolution is sought and afterwards. You agree that you shall not disclose the existence, nature or any detail of any complaints or disputes to any third party other than under the Dispute Resolution Policy (which shall include the discussion of any such any complaints and disputes in any chat room or forum offered by ourselves or any third party). This confidentiality provision shall not prevent you from discussing or disclosing any complaint or dispute with any relevant regulator (such as the British Gambling Commission or the Alderney Gambling Commission) or with such other persons as may be required under applicable law.
11.7 You accept that any failure to comply with this confidentiality obligation is a breach of these Terms and Conditions and that we reserve the right not to continue seeking a resolution to your complaint or dispute.
11.8 Complaints Procedure
11.8.1 For the initial phase of registering a complaint, we will investigate the matter in a manner that is fair and objective and advise you of the outcome and/or our decision within eight weeks from the time we received your complaint. You may be required to provide additional information or appropriate evidence for the purposes of dealing with your complaint. Where we request further information or evidence from you, the eight week time period will be paused until the information is received.
11.8.2 If your complaint is not resolved to your satisfaction at the initial phase you may, at any time during the eight week period, request that the matter be escalated and reviewed again. In this secondary phase, your complaint will be referred internally to a senior manager (being one of the Senior Management of the BETDAQ business) who will conduct an independent review and present his/her findings. We will advise you of the outcome and/or our decision as soon as we reasonably can and we may have to ask you again for more information or appropriate evidence.
11.8.3 Our complaints process ends if your complaint remains unresolved eight weeks (taking into account any pauses for you to provide information) after we received it, or we reach a deadlock or a final position in less than eight weeks. We will then write you a final response email on the matter.
11.9 Dispute Resolution Policy
11.9.1 All complaints that cannot be resolved in either the initial phase or the secondary phase during the eight week period can be sent forward to the relevant independent body to adjudicate in the dispute.
11.9.2 The appropriate adjudicator for customers based in Great Britain to contact in the event of any dispute in relation to a bet utilising the Services is IBAS; the 'Independent Betting Adjudication Service' http://www.ibas-uk.com/. IBAS provides a free-of-charge service and rules on complaints about betting and gaming transactions.
11.9.3 Customers gambling outside of Great Britain and who are dissatisfied with the outcome of a complaint may raise the matter with the Alderney Gambling Commissioner. For further information on how and when to contact the Gambling Commissioner, please access the Alderney Gambling Commission website - https://www.gamblingcontrol.org/faqs/player-issues/
11.9.4 Where a dispute is referred to an independent adjudicator under the process outlined in this section 11, the dispute will be dealt with according to the laws and dispute resolution processes specified by such independent adjudicator and the resulting decision shall be final and binding.
12. SUSPENSION AND TERMINATION
12.1 We reserve the right to suspend and/or terminate a Customer's registration and Customer's Account at our absolute discretion and with no obligation to provide Customers with any reasons for so doing.
12.2 Without restricting our ability to rely on other remedies that may be available to us, we will suspend or terminate Customer Accounts or cancel any unmatched offers using the Exchange or any of the Services (including voiding any open bet(s) on Sportsbook) or any unfinished game play using BETDAQ Casino at our absolute discretion if:
12.2.1 we suspect that Customer are acting other than on their own behalf or otherwise in concert with others or engaging in illegal or fraudulent activity;
12.2.2 we suspect that Customers are breaching any terms of these Terms and Conditions;
12.2.3 we suspect that Customers are acting in a manner that is detrimental to the conduct of BETDAQ's business;
12.2.4 we suspect that Customers may be having difficulties obtaining credit;
12.2.5 we suspect that it is illegal for a Customer to participate in the Services;
12.2.6 we are unable to verify registered address or contact telephone number;
12.2.7 we suspect that the BETDAQ Website has been hacked into, altered or compromised by Customers in any way; or
12.2.8 we are required to do so by law.
12.3 In the event that a Customer's registration is terminated or suspended, we reserve the right to determine whether to declare as void all contracts made by the Customer using BETDAQ and to cancel unmatched offers by the Customer for the Services and/or to cancel any incomplete gameplay for BETDAQ Casino and/or to void any unsettled bets on the Sportsbook. We also reserve the right to withhold funds from the relevant Customer where we suspect misuse of the accounts has occurred and, further, reserve the right to donate such funds to a charity of our choice if we ultimately close the Customer Account following any internal or external investigation. If a Customer is a party to a contract with a Customer whose registration is terminated or suspended that Customer consents to our right to declare void any such contract.
12.4 No account restrictions will be enforced against you after you have made one or more qualifying bets as part of a bonus or promotional offer, where it would adversely affect your ability to satisfy the conditions to qualify or fully benefit from the bonus or promotional offer available.
13. LIMITATION OF LIABILITY
13.1 Save in the case of manifest error on our part, we accept no responsibility and shall not be liable for any consequences that are alleged to have occurred through a Customer's use, or misuse, of any of the Services.
13.2 Each Customer is entirely responsible for the information that they provide to the Exchange concerning any offer that they wish to place. We will not enquire into the reasonableness of any offer that any Customer may make and we will not be liable for incorrect entries made by Customers, including data input errors with respect to the odds or Stake on offer. We will not be liable to Customers for any loss that Customers may incur as a result of misuse of passwords, usernames, digital certificates or other identification means accepted by BETDAQ from time to time and we accept no liability resulting from any unauthorised use, whether fraudulent or otherwise.
13.3 The Services are provided "as is" without any express or implied warranty of any kind including warranties of merchantability, non-infringement of intellectual property, or fitness for any particular purpose. In no event shall we be liable for any damages whatsoever including, without limitation, damages for loss of direct or indirect profits, economic loss, business interruption, loss of information) or any direct, indirect, consequential or special losses howsoever caused including but not limited to any loss of contracts, loss of goodwill and loss of reputation arising out of the use of or inability to use the Services, even if we have been advised of the possibility of such damages.
13.4 To the extent permitted by law, companies of the EPS Group and Betdaq Trustee Company Ltd and third parties connected to them hereby expressly exclude all conditions, warranties and other terms which might otherwise be implied by statute, common law or the law of equity; and:
13.4.1 any loss incurred in transmitting information to the BETDAQ Website;
13.4.2 any loss whatsoever arising from the use, abuse or misuse of your Customer Account;
13.4.3 any technical failures, system breakdowns, defects, delays, interruptions, manipulated or improper data transmission, loss or corruption of data;
13.4.4 Communication lines failure (including any failures that affect the ability for interactive television return-path capabilities), distributed denial of service attacks, viruses or any other adverse technological consequence of your choosing to use our Services;
13.4.5 the accuracy any information services provided (including, without limitation, scorers, runners, times, results or general statistics) or any live scores, statistics and intermediate results shown on the BETDAQ Website which are provided by third parties
13.5 Subject to the foregoing, our maximum liability to any Customer howsoever arising shall be limited to:
13.5.1 in respect of the Exchange Service, the amount of commissions actually received by us from that Customer in the previous six months;
13.5.2.in respect of BETDAQ Casino, then: in case of liability relating to a specific bet, the amount of the Stake bet; or in case of any other matter, notwithstanding valid payouts £/€/$10,000.
13.6 Nothing in these Terms and Conditions affects our liability for death or personal injury arising from our negligence, nor our liability for fraudulent misrepresentation or misrepresentation as to a fundamental matter, nor any other liability which cannot be excluded or limited under applicable law.
14. INTELLECTUAL PROPERTY
14.1 The information contained on the BETDAQ Website is protected by world-wide copyright laws and treaty provisions. It may not be copied, reproduced, modified, published, uploaded, posted, transmitted, or distributed in any way, without our prior written permission. Except as expressly provided herein, BETDAQ does not grant any express or implied right to Customers or any person in any intellectual property rights, details of Customers or trade secret information.
14.2 BETDAQ is the owner or authorised user or licensee of all the intellectual property rights in the BETDAQ Website including, without limitation, any copyright, patent, registered design, trademarks, service marks, source codes, specifications, templates, graphics, logo(s) or any right subsisting in Ireland or elsewhere in respect of formats, interfaces, programming, the offering of services to other Customers, software or any application for any of the foregoing and any modification, improvements, developments and enhancements thereof.
14.4 It is strictly prohibited to use any price data or any other data or content from the BETDAQ Website without our prior written consent.
14.5 Collection of any of our data by means of screen scraping or any other automated or manual collection by any Customer is strictly prohibited.
14.6 No links to the BETDAQ Website are permitted without our prior written permission.
15. FORCE MAJEURE
15.1 We shall not be liable, and shall not otherwise be deemed to be in breach of these Terms and Conditions, for any failure to perform, or delay in performing, any of our obligations hereunder caused by circumstances beyond our reasonable control including but not limited to government or regulatory restriction, act of God, power cut, trade or labour dispute, act failure or omission of any government or authority, the failure of electronic or mechanical equipment or communication lines, telephone or other interconnect problems (eg if a Customer or BETDAQ is unable to access his/her/its online service provider), unauthorised access, theft, operator errors, severe weather, earthquakes, floods and strikes or other labour problems. In such an event, we reserve the right to cancel or suspend the Services or BETDAQ Casino without incurring any liability.
15.2 We will not be liable for the failure of any equipment or software, wherever located or administered, or whether under our direct control or not, that may prevent the operation of the Services, impede the matching of offers, or prevent Customers from being able to contact us.
15.3 We will not be liable for any failure to perform by a third party to these Terms and Conditions. In particular, we reserve the right to declare null and void any contracts that BETDAQ may not be able to settle because of non-performance by a third party.
16. CHANGES TO THESE TERMS AND CONDITIONS, TO THE SERVICES OR TO THE BETDAQ CASINO
16.1 BETDAQ may amend these Terms and Conditions at any time by posting the amended terms on the BETDAQ Website. All amended terms shall automatically be effective immediately they are posted on the BETDAQ Website. It is a Customer's responsibility to check these Terms and Conditions from time to time to ensure that he/she agrees with the terms. From time to time we reserve the right to agree individual amendments to these Terms and Conditions with certain Customers at our discretion. The continuing use of the BETDAQ Website and the Services by a Customer following such modifications to these Terms and Conditions shall constitute acceptance of the new Terms and Conditions and Customers will be bound by such modifications. If a Customer does not accept any such changes, then his/her sole remedy is to cease using the Services and withdraw any outstanding Customer Account balance. You should print a copy of these Terms and Conditions as amended from time to time and retain it for your records.
16.2 BETDAQ reserves the right to change the format of the BETDAQ Website and the Services themselves.
17. INVESTMENT BUSINESS UNDERTAKING
17.1 We are not authorised to arrange contracts or transactions in investments or investment products or otherwise conduct investment business.
17.2 Consequently, Customers are prohibited from using the Services for the purposes of engaging in transactions in investments or in any manner which would cause us to be considered to be arranging transactions in investments or otherwise engaging in investment business. Accordingly you undertake that, when using the Exchange, you will not deliver or make any offer or series of offers which would (alone or together) if matched, create a "contract for differences" (that is, intended by both parties to end in the payment of differences); or rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss by reference to fluctuations in (i) the value or price of property of any description or (ii) in an index or other factor designated for that purpose in the contract; or cause us otherwise to be considered to be arranging transactions in investments or otherwise engaging in investment business.
18.1 If any provision of these Terms and Conditions is held to be invalid, void or unenforceable by reason of any law, rule, administrative order or judicial decision, that determination shall not affect the validity of the remaining provisions of these Terms and Conditions.
18.2 The headings in these Terms and Conditions are for convenience of reference only and do not affect the construction or interpretation of any provision.
18.3 Notices and other communications delivered or mailed to the postal address or to the electronic-mail address provided by the Customer shall, until BETDAQ has received notice in writing of any different address, be deemed to have been personally delivered once sent whether actually received or not.
18.4 Each Customer hereby agrees that these Terms and Conditions shall be binding upon his/her heirs, executors, administrators, personal representatives and permitted assigns. These Terms and Conditions shall inure to the benefit of BETDAQ and its successors, assigns and agents. We may assign our rights and duties under these Terms and Conditions to any company of the EPS Group without giving notice, or to any other entity upon prior written notice. You may not assign your rights without our prior written consent.
18.5 The relationship of BETDAQ and the Customer established by these Terms and Conditions is that of independent contractors, and nothing contained in these Terms and Conditions shall be construed to:
18.5.1 give either party the power to direct and control the day-to-day activities of the other;
18.5.2 deem the parties to be acting as partners, joint ventures, co-owners or otherwise as participants in a joint undertaking; or
1 8.5.3 other than as stated in these Terms and Conditions, permit either party or any of either party's officers, directors, employees, agents or representatives to create or assume any obligation on behalf of the other party for any purpose whatsoever.
18.6 Any waiver by BETDAQ of any breach of, or default under, these Terms and Conditions by a Customer shall not be considered as a waiver of any subsequent breach.
18.7 Failure or delay by BETDAQ in enforcing or partially enforcing any condition of these Terms and Conditions shall not be interpreted as a waiver of any of BETDAQ rights under these Terms and Conditions.
18.8 These Terms and Conditions supersedes all prior agreements between the parties in relation to its subject matter and represents the entire agreement between BETDAQ and the Customer. Each Customer hereby agrees that these Terms and Conditions shall also supersede, and automatically terminate, all prior agreements between the Customer and any former licensed operator of the BETDAQ Website in relation to the subject matter of these Terms and Conditions. For the avoidance of doubt, such termination shall not affect any existing self-exclusion arrangements in place between the parties or any other third party with respect to the BETDAQ website.
18.9 These Terms and Conditions shall be subject to and interpreted in accordance with Guernsey Law and shall be subject to the non-exclusive jurisdiction of the courts of Guernsey.
18.10 These Terms and Conditions have been prepared in various languages other than English for reference only. In the event of any differences between the English version of these Terms and Conditions and any non-English versions, the English version shall prevail.
19. CASH OUT
19.1 'Cash Out' is a function which allows you to lock in a profit or a loss on your bet prior to the market(s) in which you placed the bet completing. Cash Out is only available in markets denoted with the Cash Out symbol
19.2 We will endeavour to inform you if your Cash Out has been successful or unsuccessful. An unsuccessful or partially successful Cash Out can occur for a number of reasons, e.g. as a result of a market being suspended or where markets go 'in running' or where there is a price movement on your selection. BETDAQ accept no responsibility for any loss or perceived loss where Cash Out requests are unsuccessful or partially successful.
19.3 Customers are entirely responsible for checking their position in a market at all times and following a Cash Out request as reflected in their market p&l regardless of messages returned or not returned following a Cash Out request.
19.4 Whilst we will endeavour to make the Cash Out functionality available wherever possible, the Cash Out service may be unavailable from time to time and BETDAQ provides no guarantee as to its availability and shall not be liable for any losses flowing from the unavailability of the Cash Out function. We therefore recommend that you do not use the Exchange or Sportsbook to make offers or match/make bets with the intention of using the Cash Out function as a way of mitigating the liability of your bet. All bets will stand regardless of the availability of the Cash Out feature.
19.5 When customers successfully Cash Out this shall constitute a settlement of the original bet and any subsequent events will have no impact on the amount returned to your account. All Cash Out transactions remain subject to the BETDAQ' standard settlement and bet acceptance rules set out in these Terms and Conditions.
19.6 We reserve the right to amend, suspend or remove Cash Out availability at any time on any market or to any customer. Further, we reserve the right to reverse the result of a Cash out where the market is settled in error. Where markets are settled in error, the result of the Cash Out may be amended to take into account the circumstances and price that would have applied had the error not occurred.
EXCHANGE SPECIFIC TERMS AND CONDITIONS
20. EXCHANGE BETTING AND THE ROLE OF BETDAQ AND OF BETDAQ TRUSTEE CO. LTD
20.1 The primary role of BETDAQ is to act as a facilitator between Customers who wish to make offers to each other. These offers, if matched or partially matched, will become contracts between individual Customers.
20.2 The role of Betdaq Trustee Company Ltd is to act as stakeholder for Customers' funds and to provide Customers with a funds-settlement service for the settlement of those contracts.
20.3 From time to time EPS, or its associated companies, may place bets on the exchange for the following reasons:
· To seed liquidity and initiate market activity;
· To hedge liabilities that exist in EPS or in other parts of the EPS Group;
· To facilitate the acceptance of bets from customers of EPS’s other products or services, or those of other parts of the EPS Group, that would otherwise not be accepted.
20.4 In these scenarios, bets placed by EPS, or it’s associated companies, into the Exchange are subject to the same terms and conditions as all other customers.
20.5 In consideration of our acting as a facilitator for Customers transacting with one another we charge a commission. Please refer to Commission contained in the "Help" section of the BETDAQ Website for more information regarding calculation of commission. We reserve the right to amend our commission policy from time to time.
21. CHARGES AND FEES
21.1 Commission is paid by customers based on their net winnings in a market. No commission is payable where the customer has made a net loss on a market.
21.2 BETDAQ charges a flat 2% commission fee to customers on all Exchange Net Market Winnings on the following sports: Horse Racing; Greyhound Racing; Football; Cricket and on all Exchange Virtuals markets ("Normal Commission Rate").
21.3 BETDAQ charges a 0% commission rate on all other sports offered on the Exchange (“0% Commission Rate”)
21.4 The Normal Commission Rate and the 0% Commission Rate apply to all consumer customers on BETDAQ. However, we reserve the right to apply different rates to accounts in other customer categories such as commercial customers or customers with heavy usage of the exchange such as, but not limited to,API customers. We will notify such customers in advance if their accounts become subject to charges other than the these specified commission rates.
21.5 Commission points have no impact in the calculation of the amount of commission you pay and may be used in marketing or loyalty programs. Commission points are awarded to customers on the following basis: One exchange commission point is earned for each £25/€40/$40 won or lost across exchange markets. Points have no cash redemption value at any time.
Payment Processing Surcharge and Service Charge
21.6 From 13th January 2018, no deposit or withdrawal surcharge will be levied when processing a standard payment (deposit or withdrawal) transaction on BETDAQ. For the avoidance of doubt, a standard payment is deemed to be any of the following: Card transaction, e-wallet transaction or non urgent online bank transfer transaction.
21.7 We reserve the right however, to levy any associated charges to you if your deposit and withdrawal activity does not correspond to a sufficient volume of play. You are responsible for paying any associated charges to us, either on demand or where there are sufficient funds in your account by debiting these charges from such funds in your account.
21.8 Any cheque lodgements and all exceptional payments such as requests for same day bank transfers may be levied with a service charge where applicable.
22. MAKING AN OFFER ON THE EXCHANGE
22.1 To enter into a contract with another Customer(s), a Customer must first make an offer on any event listed in the Exchange stating the terms on which he or she wishes to transact, e.g. event, the selection, outcome, stake and minimum price they are willing to accept.
22.2 Customers will only be permitted to make offers using funds ("Stake") up to the amount of the current available balance in their Customer Account.
22.3 BETDAQ may increase or decrease the minimum Stake at any time.
22.4 When an offer is made by a Customer, BETDAQ will act as stakeholder and agent of the Customer.
22.5 The Exchange will attempt to find opposing Customer offers that have unconditionally been entered into the Exchange, ie those which express an opposing view at equivalent terms or better, which have not yet been matched.
22.6 Once the Exchange has found such an opposing unmatched offer, it will automatically match the two Customers' offers and those Customers will have entered into a contract with each other on the terms stated in their opposing offers. This is a binding agreement from which it will not be possible for the Customers to choose to exit and the terms of which they cannot amend.
22.7 Customers may only make an offer on events for which there is a market open on the Exchange.
22.8 Customers may request that markets be opened on new events on the BETDAQ Website by emailing BETDAQ. BETDAQ is under no obligation to open new markets.
22.9 Customers may only make an offer in the currency in which their Customer Account is denominated.
22.10 This clause has been removed.
22.11 For offers made after an event has commenced but before the event has completed and betting on the event has been suspended, ("in running") there is a built-in delay for processing offers. Depending on the sport this could be up to 10 seconds. Customers must wait for confirmation after the delay that their offer has been placed.
22.12 Customers are responsible for offers placed on their Customer Accounts where correct usernames or passwords are used to access the Customer Accounts
22.13 The current minimum Stake for an offer placed by a Customer on the Exchange is £/€/$0.50. This minimum Stake can be amended by BETDAQ without notice at any time.
22.14 BETDAQ does not operate a TeleBet service and accordingly does not bear any responsibility to Customers who attempt to place offers on the Exchange over the phone.
22.15 When a Customer delivers or makes an offer into the Exchange, the Customer grants to BETDAQ an irrevocable authority:
22.15.1 to accept, on behalf of the Customer, any other Customer's previously recorded corresponding and opposing offer and thus to create a matched offer or contract between the Customers; or
22.15.2 failing (i), to display the terms of the Customer's offer for acceptance by other Customers until the offer is accepted by (an) other Customer(s) or until the offer expires.
22.16 BETDAQ will provide Customers with an order number in respect of each of their placed offers.
22.17 Once an offer has been submitted, BETDAQ will instruct Betdaq Trustee Company Ltd to provide a funds-clearance service for the transaction in the following way:
22.17.1 Immediately upon a Customer submitting an offer into the Exchange, BETDAQ will instruct Betdaq Trustee Company Ltd to debit the Stake from the Customer's Account in accordance with the terms of the offer. The total proposed Stake to be deducted will be notified to the Customer before he/she finally places the offer.
22.17.2 Betdaq Trustee Company Ltd shall hold the relevant funds so as to ensure that the funds are not used for any other purpose until the offer is unmatched and has expired at the stated time for the event, is cancelled or voided or until the offer is matched and the undisputed outcome of the contract between the Customers is known.
22.17.3 if the offer is matched or partially matched then, upon settlement of the contract in accordance with the BETDAQ Rules, we will distribute the Customers' Stakes according to the applicable rules of the contract agreed between the Customers, less our commission.
22.17.4 in the event that an offer is not matched by the Exchange, it will either expire at the actual start time of the event on which the offer is made or, if the Customer so specified, be carried over to be offered in the In Running market. Upon expiry, the Stakes offered that are not matched, or are deemed void, will be returned to the respective Customers' Accounts.
22.18 BETDAQ bears no responsibility for monitoring and managing the status of Customers' offers. Offers may not get matched, may get partially matched or get fully matched. Customers are responsible for monitoring how much, if any, of each of their offer is matched.
22.19 Customers are not permitted to use the exchange to deliberately transfer money from one account to another by attempting to match bets exclusively between two accounts on the exchange.
22.20 Programs may be used by some Customers in order to automatically make offers into the Exchange and enter into binding contracts with other Customers based on certain specifications and variables set within the program ("Bots"). Customers, whether they use Bots or not to make offers on the Exchange, should be aware that any offer could be susceptible to exploitation by other Customers.
22.21 All offers placed on BETDAQ markets are placed solely at the customer's risk. BETDAQ endeavours to provide fair betting markets to customers with market conditions that reflect the true nature of the betting market on events at any point in time. BETDAQ encourages customers to place offers on the exchange to form a normal and fair betting market either through manual or automated means through the BETDAQ API or other interfaces. Any customer who seeks to systematically manipulate betting market odds and or volumes away from normal market activity, either using automatic or manual means, will be deemed to act in breach of these Terms and Conditions. Accordingly, we reserve the right to suspend any offending customer's account and shall be entitled to hold any funds relating to any such account pending the outcome of an investigation.
23. OFFER CANCELLATION
23.1 BETDAQ will use all reasonable endeavours to meet offer cancellation requests.
23.2 No cancellation of an offer will be effective until the original offer is removed from the Exchange and no longer displayed on the BETDAQ Website.
23.3 As an offer is available to other Customers until cancelled there is the possibility that an offer may be accepted and matched in the Exchange before the cancellation request can be completed. BETDAQ bears no responsibility for delays which may arise between the time a cancellation order is initiated and the time it is actually cancelled.
23.4 BETDAQ reserves the right to close the Exchange at any time, in order to preserve orderly markets or for any other reason deemed fit by BETDAQ.
23.5 BETDAQ reserves the right to prevent Customers' offers being entered onto the Exchange, cancel any outstanding offers or void any outstanding or settled contracts between Customers at our absolute discretion and with no obligation to provide Customers with any reasons for so doing.
23.6 Without restricting our ability to rely on other remedies that may be available to us, we may cancel any unmatched offers using the Exchange or other Services or void any contracts at our absolute discretion if:
23.6.1 we suspect that Customers are acting other than on their own behalf or otherwise in concert with others or engaging in illegal or fraudulent activity while using the Services;
23.6.2 we suspect that Customers are breaching any terms of these Terms and Conditions;
23.6.3 we suspect that Customers are acting in a manner that is detrimental to the conduct of BETDAQ's business;
23.6.4 we suspect that it is illegal for a Customer to participate in the Services;
23.6.5 we are unable to verify registered address or contact telephone number; or
23.6.6 we are required to do so by law.
23.7 All void contracts and cancellation of offers will have the Stakes refunded.
24.1 All contracts are settled subject to the BETDAQ Rules.
24.2 We reserve the right to correct errors of settlement. If, following correction of a mis settlement, the balance on a Customer's Account becomes negative, the Customer will immediately deposit sufficient funds into his/her account to increase the balance to an amount at least equal to zero.
24.3 We reserve the right to recover from Customers any Stakes paid out in error or which become the subject of a disputed contract. Any Stakes that become subject of a disputed contract will be placed in a holding account pending resolution of the dispute in accordance with our Complaints Procedure and Dispute Resolution Policy.
25.1 Customers are not able to make offers on markets available on Virtuals but must take the price offered on any selection.
25.2 The counterparty for all bets made by a Customer on any markets available on Virtuals is EPS.
25.3 All bets in respect of any market available on Virtuals shall be settled promptly following the completion of the relevant virtual event.
25.4 All bets on any market available on Virtuals are otherwise subject to these Terms and Conditions but, for the avoidance of doubt, any provision specifically relating to the Exchange shall not apply.
26. EXCHANGE STARTING PRICE (XSP)
26.1 BETDAQ Exchange Starting Price ("XSP") bets are available in markets denoted with the 'XSP' symbol. XSP will only apply to bets that have been specified to take XSP if otherwise unmatched when XSP is calculated. Bets can be specified to take XSP if otherwise unmatched in any one of the following places: 1) In the Betslip when placing bets by selecting the 'At The Off Take XSP' option; 2) In the Current Bets Panel when amending bets and 3) In the 'My Preferences' section of 'My Account' where customers can default all bets to 'Take XSP' for the unmatched portions of bets at the off.
26.2 XSP is a singular price that applies on unmatched portions of Exchange bets (where XSP has been requested) for both Back & Lay selections at the time an applicable market turns in-running or at market completion (where in-running is not offered). XSP bets are treated like any other exchange bet for the purposes of calculating net market winnings/losses and normal commission rates on net market winnings apply.
26.3 The calculation of XSP will occur at the point of the market being turned in running or completed. A small time delay will ensue at the point of this calculation and the market will remain suspended until the calculation process is complete. XSP prices are calculated based on the matched prices and volumes in the exchange market. The counterparty for all bets made by a Customer at XSP is EPS. BETDAQ will not publish the XSP calculation algorithm and may update or amend it from time to time without notice.
26.4 XSP is designed to provide assurance around bet matching availability for customers. BETDAQ may guarantee XSP availability up to a certain stake/liability amounts for customers at our discretion however the amount of stake or liability ultimately available to match at XSP will depend on the overall volumes requested by backers and layers of XSP in the market. If a customer requests a stake at XSP beyond that available that can be matched at XSP, then any unmatched portion of their XSP bets will be cancelled at the off. (API customers have the ability to persist any unmatched XSP requests in-running through their bet placement settings). Customers will know whether their bets are matched or not once a market turns in running, after the calculation is made and XSP bets have been matched.
26.5 XSP values will be displayed in the event card once calculated and displayed for the duration of the market. XSP values displayed while the market is in-running are for display purposes only and the final calculation of XSP on settlement may be subject to a rounding process. For example, the displayed XSP price may be '6.0' but your actual price will calculated to 12 decimal places and you may not match with exactly 6.0.
26.6 In the unlikely event of a market being turned in running either early or late with XSP bets consequently being calculated at an incorrect time, we reserve the right at our absolute discretion to either let the matched bets stand as matched or to undo the XSP and un-match all matched XSP bets. Any unmatched XSP bets in these circumstances will be cancelled and become unavailable for any further matching.
26.7 BETDAQ reserves the right to not declare an XSP or match any bets at XSP due to an operational or technical error.
26.8 XSP bets can be subject to a deduction factor as is outlined in these Terms and Conditions. For example, if XSP has been calculated in a market after the market has been turned in running' and subsequently, a selection in that market is withdrawn, the XSP for each remaining selection may be subject to a deduction factor.
26.9 BETDAQ reserves the right not to calculate XSP on any given market where it suspects that suspicious betting activity or any form of market manipulation has occurred. Further, we reserve the right to suspend settlement or void XSP bets where we suspect that suspicious betting activity or any form of market manipulation or collusive behaviour has taken place. The terms relating to suspicious betting, market manipulation or collusive behaviour found in these Terms and Conditions will apply.
26.10 If for any reason Betdaq returns XSP prices it deems to be palpably different to the expected odds for a given market, we reserve the right to void all bets on that particular selection or market in relation to XSP bets.
26.11 BETDAQ reserves the right to remove XSP bet placement permissions from any account at our discretion.
SPORTSBOOK SPECIFIC TERMS AND CONDITIONS
27. PLACING A BET
27.1 You must exercise your own judgement in choosing to place a bet or to make an offer. You acknowledge that, in placing your bet or making an offer, you are not relying on any statement of any of our employees relating to the subject matter of the bet. We reserve the right to refuse part or all of a bet or an offer.
27.3 Once you have placed your bet and you have received confirmation that your bet has been accepted, it is too late to cancel the bet (unless we, in our absolute discretion, provide permission to cancel or change the bet).
27.4 When betting through the Website you will know that your bet has been processed when after clicking OK to process your bet, your betting slip reappears with confirmation that your bet has been placed. Your betting slip will also have a receipt number individual to that slip, which confirms that the bet has been accepted.
27.5 Should you have any concerns that your bet has not been processed correctly go to the 'Your Account' button at the top of the screen and enter the date when you placed your bet. Details of all bets processed will appear on your screen. Only bets that appear on your Account Statement screen are valid transactions. Alternatively, you can check the ‘My Bets’ tab located beside the ‘Betslip’ tab for details of all placed bets.
27.6 It is your responsibility to ensure that the details of any transaction which you place are correct. For bets placed through the Website, you can check bets using the Account Statement.
27.7 Bets placed by credit card or debit card do not become valid until we have received payment. If payment has not been received before the event commences, then that bet is automatically void.
27.8 Where bets are taken after the start of an event, bets will stand if nothing has happened which would significantly alter the chances of the selection winning or losing (with the exception of in play bets which may be placed during an event). For example, we would allow a football bet to stand (win or lose) if there had been no goal or sending off in the game. All bets placed after the result of an event is known will be void win or lose.
27.9 Clauses 27.3 to 27.5 and 27.8 shall not apply to any bet placed on the Exchange.
27.10 No account restrictions will be enforced against you after you have made one or more qualifying bets as part of a bonus or promotional offer, where it would adversely affect your ability to satisfy the conditions to qualify or fully benefit from the bonus or promotional offer available.
27.11 EPS is the counter party on all bets placed on the Betdaq Sportsbook and on all Multiple Bets placed through either the Betdaq Sportsbook or the Multiples section of the Exchange.
28. MAXIMUM PAYOUT
28.1 The maximum amount that we shall be obliged to pay to you in respect of any one bet or spin shall be limited to the following amounts: 28.1.1 'Sportsbook' betting through the Website is set out in the Rules; 28.1.2 'Virtuals' betting (both Exchange and Sportsbook) through the Website is £250,000;
There is no limit on sums that may be won by bets placed on the Exchange.
28.2 You acknowledge and agree that for certain products your approved staking level may mean that you have the opportunity to win more than the amounts set out in Clause 28.1 above. Even where your approved staking level may give you the opportunity to win a higher amount, you agree that BETDAQ shall only be obliged to pay to you the maximum amounts specified in Clause 28.1 above.
29. ACCOUNT CORRECTION
29.1 Where, in respect of any Product or an event within a Product, we make an error (whether human or otherwise), we will be entitled to declare the transaction void and withhold any payments. If we wrongly pay an amount to you or we pay you more than the amount to which you are properly entitled you agree to repay to us immediately upon request from us the amount which has been wrongly paid or overpaid to you. We have the authority to adjust your account to reflect the true outcome and rectify the error. An example of such an error might be where a price is incorrect, a bet is late, a failure occurs in one of our systems or where we enter a result of an event incorrectly.
30. ERRORS IN RELATION TO SPORTSBOOK MARKETS
30.1 This clause relates to errors made in Sportsbook markets. Any errors made in relation to Exchange markets are dealt with under the Betdaq Exchange Rules.
30.2 We make every effort to ensure that we do not make errors in accepting bets. However, if as a result of human error or system problems a bet is accepted at a price (which includes the odds, handicap provisions and other terms or details of the bet) that is either: 30.2.1 materially different from those available in the general market at the time the bet was made; or 30.2.2 clearly incorrect given the chance of the event occurring at the time the bet was made, then we will pay winnings at the correct price. 30.3 To establish the correct price we will consider prices available in the general market at the time the bet was made, including the prices offered by Oddschecker. Examples of circumstances where this would apply are:
30.3.1 the price is recorded as 100-1 when the price on offer in the general market is 10-1; or 30.3.2 the margins for handicap betting have been reversed. 30.4 If a bet is accepted in error by us on an event or outcome for which no BETDAQ prices are available the bet will be void and your stake returned.
31. SPORTSBOOK SETTLEMENT
31.1 All Sportsbook bets are settled subject to the BETDAQ Sportsbook Rules.
31.2 We reserve the right to correct errors of settlement. If, following correction of a mis settlement, the balance on a Customer's Account becomes negative, the Customer will immediately deposit sufficient funds into his/her account to increase the balance to an amount at least equal to zero.
31.3 We reserve the right to recover from Customers any Stakes paid out in error or which become the subject of a disputed bet. Any Stakes that become subject of a disputed bet will be placed in a holding account pending resolution of the dispute in accordance with our Complaints Procedure and Dispute Resolution Policy.
32. IT FAILURES
32.1 We cannot be held responsible for a bet not being placed or an offer not being matched for any reason or you being disconnected from the Website, including but not limited to computer malfunctions and failure of telecommunications services or internet connections. The balance of your account will at all times be as is recorded on our server. 32.2 The balance on the server when logging on to our Website, after you have been disconnected, will reflect the balance after completion of the last bet prior to the disconnection. 32.3 We regret the imposition of the above, however it is necessary to avoid further complications. By placing any further bets or offers on our Website, you accept the results of any previous bet. As such (at our discretion) the results of the previous bet are no longer in dispute and no refund or other adjustments will be granted. If you feel the result of any of the games is unfair or incorrect, you should contact us immediately and report the incident.