General Terms and Conditions
Last Updated: 04/06/2020
- Welcome to Buddybet. The following Terms and Conditions relate to your use of our Platform, the Buddybet Services and your Buddybet account.
- Our details
- Buddybet Pty Limited (“Buddybet“, “we“, “us“, “our“) is a limited liability company registered in the state of Victoria, Australia with its registered office at 1 Williamsons Rd, Doncaster, VIC 3108.
- Buddybet is licensed and regulated in Australia by the Northern Territory Racing Commission and holds a betting exchange licence issued by the Northern Territory Racing Commission under the Racing and Betting Act 1983 (NT) to provide betting exchange services to customers located in Australia. All bets placed using the Buddybet Platform are considered to be placed and received in the Northern Territory of Australia.
- Buddybet is not a bookmaker in any way and is merely a Platform which holds your social bet.
- Buddybet Account
3.1 If you wish to bet using our Platform you will need to open an account with us (Account). By opening an Account with us, you agree to be bound by our Terms and Conditions of Use.
- Account Terms and Condition of Use
4.1 Before you can place a bet on our Platform you need to open an Account and deposit funds.
4.3 Our Customer Terms including any amendments from time to time, are published on our Platforms. Before doing so, we will inform you of the material changes prior to them taking effect. The most up to date Customer Terms will be available on the relevant pages. It is your responsibility to keep up to date with our Customer Terms.
4.4 If you do not think a material change is acceptable, you may choose to stop using our Platforms. Your continued use of our Platforms following the provision of notice and publication of the updated terms constitutes your acceptance of those changes.
4.5 By clicking “I Agree Sign Up” to create your Account and when you place a bet using our Platform, you agree to be bound by the Customer Terms.
4.7 Please note: South Australian law prohibits gambling on eSports. All eSports bets placed in the state of South Australia will be declined by Buddybet and a notification will be sent to the creator of the bet.
- Your Account
5.1 By opening an Account with Buddybet, you understand and agree that:
- Proof of Age: you represent and warrant that you are 18 years of age or over. Gambling by a person under the age of 18 is prohibited in Australia. We take our responsibility with respect to underage gambling very seriously. We reserve the right, at any time, to ask you for identity documents to verify your age. You agree that we may suspend your Account, until satisfactory identity documents are provided. If we identify, or have a reasonable suspicion, that you may be under the age of 18, your Account will be permanently close, any bets placed through your Account will be voided, and any funds deposited into your Account will be returned to you.
- Legal Capacity: you represent and warrant that you are of sound mind, and capable of taking responsibility for your own actions and that you are capable of entering into a legally binding agreement with Buddybet.
- Poof of Identity and Accurate Information: you confirm that you are the person whose details are provided in connection with the opening of an Account.
In accordance with our obligations under the under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), we reserve the right to request that you provide proof of identity, residence or other verification information or documentation when you register for an Account, and prior to allowing you to make any deposits to or withdrawals from your Account.
So that we may comply with our legal obligations under the AML/CTF Act, you agree to provide accurate information at the time of registration, including without limitation, your correct full name, date of birth, residential address and country of residence, contact details, driver’s licence information and authorisation to use a particular credit or debit card or bank account. You agree to inform us of any changes to such details.
You agree to provide all such information or documentation as we require so that we may complete these verification checks. You understand and agree that, as part of the registration process, Buddybet may disclose your information to authorised verification identity agencies to confirm your identity and payment details.
If we are unable to verify your identity you will not be able to use our services, until we are able to sufficiently verify your identity. The Buddybet registration process will only be complete once your identity has been verified.
5.2 Representations and Warranties: In addition to the representations set out at clause 5.1, you further represent and warrant that:
- you act as a principal and have not opened and/or are not using, your Account on behalf of a third party;
- you are not an undischarged bankrupt or a party to a voluntary arrangement with creditors; and
- you are not currently subject to a self-exclusion period from Buddybet (or any other gambling operator) and neither we, nor any other operator has excluded you from gambling.
5.3 Account Details: You understand and agree that it is your responsibility to keep your Account and contact details up to date. Failure to do so, may result in you not receiving important Account related notifications and information from Buddybet, including (but not limited to) any amendments we make to our Customer Terms.
5.4 Account Security: Buddybet allows you to choose your own username and passwords. You understand and agree that you are solely responsible for the security and confidentiality of your Account. You agree to keep your username and password secured and protected at all times, and any failure to do so shall be at your sole risk and expense. You are responsible for any misuse of your Account. We recommend that you change your password on a regular basis and never disclose it to any third party. Please be aware that, if you use your email address as a username for your Account, this can reduce the security levels of your Account, as your email address may be more accessible to third parties whom can then gain access to your Account. If, at any time you lose or forget your username and/or password or you believe that a third party has access to it, please change these immediately via your Account Settings on our Platforms or contact Buddybet immediately for assistance.
5.5 Bets Placed on your Account: Once your Account is active, we are entitled to assume that all betting activity, deposits, payments and withdrawals are made by you, the registered user of the Account. As such, you acknowledge and agree that you are solely responsible for all bets placed and activity on your Account. If another person accesses your Account, you are solely responsible for all their actions whether or not their access was authorised by you, and you hereby indemnify us against all costs, claims, expenses and damages arising in connection with the use of and/or access to your account by any third party. If we have reasonable suspicion that an Account is being used or accessed by a party other than the registered user, we reserve the right to suspend the Account until sufficient identification has been provided to verify the user.
5.6 No Transfer of Accounts: You agree and warrant that you will not attempt to sell or otherwise transfer the benefit of your Account to any third party, and nor will you acquire or attempt to acquire an account which has been opened in the name of a third party.
5.7 Multiple Accounts: You may only hold one Account with Buddybet. If we discover, or have reasonable suspicion to believe, that you hold more than one Account, we reserve the right to close any such accounts.
- Deposit and withdrawal of funds
6.1 You may only bet with the cleared funds held in your Account.
6.2 Funds may be deposited into your Account by credit or debit card, or other payments methods which Buddybet may make available from time to time. We may accept other payment methods from time to time at our sole discretion and in accordance with federal and local laws and regulation.
6.3 For any payment methods that require a specific named account holder, you should only deposit funds into your Account from a source where you are the named account holder. Where we identify that the named account holder is different to the Buddybet Account holder, we reserve the right to deem any deposits into the Account as invalid, and any bets or winnings from the deposits as void.
6.4 Buddybet does not offer any credit betting and all bets must be supported by sufficient funds in your Account. Buddybet reserves the right to void any bet which may have inadvertently been accepted when your Account does not have sufficient funds to cover the bet.
6.5 All funds in users Accounts are quarantined by Buddybet, in a secure and designated client account established solely for the purpose of holding customer funds, and separate to any Buddybet business bank accounts and are therefore protected in the event of insolvency.
6.6 You agree and undertake that:
- all monies that you deposit into your Account is not tainted with any illegal activity, and in particular, does not originate from any illegal activity or source;
- you have authorised all monetary transactions made into your Account and you will not attempt to make any chargebacks, or cancel or reverse a payment made into your Account or take any action which will cause such a payment to be reversed by a third party, in order to avoid any legitimate liability; and
- you will only deposit money into your Account for the purposes of using that money to place bets through the Services.
6.7 Buddybet reserves the right to suspend or close your Account if we discover, or if we have reason to believe, that you are depositing money into your Account without any intention to place bets. In such circumstances, we may also report this to the appropriate authorities in accordance with our legal obligations.
6.8 You accept that all transactions and betting activity may be checked to prevent money laundering and that any transactions made by you which Buddybet deems suspicious, may be reported to the appropriate government and law enforcement authorities.
6.9 Where possible, all withdrawals will be processed to the payment account or source from which the deposits were made. Withdrawals of payments or winnings can only be made to a bank account which is in your name.
6.10 We have a number of controls and checks that take place before any winnings withdrawal request is processed by Buddybet. These checks are part of our ongoing commitment to maintaining the security of our customers’ funds and ensuring that we can verify the identity of the customer making the withdrawal request. We cannot process winnings withdrawals made to incorrect account details in your Account. All withdrawals requests are therefore only processed within 24 hours from the withdrawal request being made so that we may conduct the relevant security and identity verification checks.
- Suspension or closure of your Account
8.1 You may choose to close your Account at any time either by closing the account from within the Buddybet app or by contacting Buddybet Support on support@Buddybet.com.
8.2 Buddybet reserves the right to suspend or close your Account at any time for any reason. We will give such notice to you either before or immediately after suspending or terminating your account.
8.3 Without limiting clause 8.2, Buddybet reserves the right to suspend or close your Account if:
- you breach any of the Customer Terms;
- you become bankrupt or enter into a voluntary arrangement with creditors;
- Buddybet discovers, or has reasonable belief, that you are using the Services in a fraudulent manner, or for illegal, or unlawful purposes;
- Buddybet discovers, or has reasonable belief, that you are using the Services in an unfair manner or have deliberately cheated or taken an unfair advantage of Buddybet or any other customer;
- we have been requested to do so by the police, any regulatory authority or court or we are required to do so to comply with any other order, law or regulatory requirement;
- your Account has a zero balance and is considered to be dormant due to lack of betting activity for a period of 12 consecutive months;
- Buddybet ceases to offer the Services; or
- for any other reason at our sole discretion, acting reasonably.
8.4 We may take steps to block you from betting on certain events, using our Platforms (or any part of it), if you are located in certain jurisdictions.
8.5 Following the closure or suspension of your Account, in the normal course of events, we will arrange for the return of any funds in your Account to you. Please contact Buddybet Support on firstname.lastname@example.org to recover any funds held in suspended or closed Accounts.
8.6 Notwithstanding clause 8.5, we reserve the right to withhold the funds in your Account pending the determination of any investigation (including any relevant external investigation) where:
- we suspect you have acted in breach of any of the Customer Terms, or any other agreement relevant to your betting activities, including where we suspect the Account has been linked with illegal, fraudulent or dishonest activity; and/or
- we are required to withhold the funds in your Account by law or to comply with any advice, request or instruction from any governmental, regulatory or enforcement authority.
8.7 If we close or suspend your Account for any reason, you are liable for any, and all claims, losses, liabilities, damages, costs and expenses incurred or suffered by Buddybet arising therefrom, and you agree that you will indemnify us on demand for any such claims.
8.8 Following any closure or suspension of your Account or the determination of any investigation described at clause 8.6, we reserve the right withhold and/or retain any and all of the funds in your Account if we are satisfied that you have acted in breach of the Customer Terms or any other agreement relevant to your activities on our site.
8.9 In addition, if formally requested by the police, gambling regulators or other government, regulatory or law enforcement authorities, or in the event that you fail to provide us with sufficient information to identify yourself in accordance with our own internal procedures or those imposed on us by regulatory or enforcement authorities (wherever based), we may suspend your Account and all functionality relating to the use of your Account (e.g. placing bets and withdrawal of funds) and withhold from you any funds in your Account pending determination of any criminal or other legal proceedings or investigation to which such a request may relate or until you provide the necessary ‘know your client’ or ‘age verification’ information as appropriate.
8.10 For the avoidance of doubt at no point during any such period will interest accrue to you on any funds in your Account.
- Responsible Gambling
9.1 We take our social responsibility seriously and aim to provide a Platform where persons can enjoy the social elements of life, along with having a wager with a mate.
9.2 We understand that the majority of people are able to enjoy a wager, without it causing significant detriment to their personal lives. However, in instances where you feel your gambling is causing a detrimental impact on your life, we are here for you and provide you with various tools to assist you. These are outlined further in our Responsible Gambling Statement.
10.1 Limited warranties: While we endeavour to provide you with the Services using reasonable care and skill and to ensure that the information on our Platform is correct to the furthest extent permitted by law, Buddybet makes no warranties as to the accuracy or completeness of the information and material on our Platforms. The information and material on our Platforms is provided “as is” and may contain typographical error or inaccuracies. We reserve the right to correct any errors in relation to the Services and will use reasonable endeavours to do so but Buddybet is under no obligation to update such materials.
10.2 No further warranties: Subject to clause 10.1 and as otherwise set out in these Terms and Conditions, to the maximum extent permitted by law, Buddybet makes no further warranties or representations as to the Services, and all warranties, representations, conditions or other terms are excluded, whether express or implied and Buddybet.
10.2 No Liability: To the maximum extent permitted by law, Buddybet does not accept any liability for any liabilities, damages or losses which are deemed or alleged to have arisen out of or in connection with the Services (including any delays, interruptions in the operation or transmission of the Services, any loss or corruption of data, communication or systems failures or any other person’s misuse of the Services or its content (including by another customer)).
10.3 No indirect or consequential losses: For the avoidance of doubt, Buddybet shall not be liable, in contract or tort (including negligence) or otherwise, which gives rise to any indirect or consequential loss or damage of any kind (whether foreseeable or not), including but not limited to, any liability for any loss of income or revenue, loss of business, loss of profits or contracts, loss of opportunity, loss of data or loss of goodwill or reputation.
10.4 Customer Winnings and Owings: Nothing in this clause 10 limits Buddybet’s liability to pay customer winnings or other amounts properly owed to a customer, subject to the Customer Terms. You acknowledge that Buddybet will pay out the winning bet once both betting customers agree and confirm the agreed winner via our Platform.
10.5 Statutory Rights: Nothing in this clause 10 affects your statutory rights under law. In Australia, all services come with guarantees that cannot be excluded under the Australian Consumer Law. Nothing in these terms and conditions purports to modify, limit or exclude the conditions, warranties undertakings and other legal rights to which you are entitled under the Australian Consumer Law and other relevant laws. To the maximum extent permitted by law, any and all other warranties or conditions which are not guaranteed by law are expressly excluded.
10.6 Aggregate Liability: Subject to this section 10, our total and aggregate liability to you, under or in connection with the Services provided by Buddybet to you is strictly limited to the lesser of:
- the value of the bets placed via your Account in respect of the relevant bet that gave rise to the relevant liability; and
- the total value of your Account balance, in respect of any other liability.
10.7 No exclusion of Liability: Nothing in these Terms and Conditions shall exclude Buddybet’s liability for (a) fraud or fraudulent misrepresentation; (b) death or personal injury caused by our negligence; or (c) any other liability which cannot be excluded or limited under relevant law.
- Grievances and Dispute Resolution
11.1 We want our customers to be fully satisfied with their experience using our Platform and to ensure that all betting is fair for all customers.
11.2 Buddybet is different to other wagering platforms in that the users must result the bet. This is outlined further in our Bet Rules. We recognise that there are those rare occasions where parties to a bet, do not agree on the result.
11.3 If you wish to raise a grievance relating to your use of our Platforms, or in relation to a past or current transaction or interaction with another customer, please contact the Buddybet Support Team by phone 1800Buddybet or email email@example.com
11.4 Escalate to Management- Should you be dissatisfied with the resolution provided by the Buddybet Support Team you may escalate your query to a member of our Management Team via email at firstname.lastname@example.org They will then investigate your dispute or complaint and respond back to you.
11.5 If you are not satisfied with the result of our handling of your grievance, you can escalate the issue further by lodging a complaint with the Northern Territory Racing Commission via the online ‘gambling dispute form’ found at https://nt.gov.au/industry/gambling/complain-about-a-bookmaker/gambling-dispute-form. Any decision of the Northern Territory Racing Commission is final and binding on both parties and all affected betting transactions will be adjusted accordingly.
- Intellectual Property
12.1 You agree and warrant that you will not:
- reverse engineer or decompile (whether in whole or in part) any part of the software which makes up the Buddybet platform, Website or App (together, the Software); or
- make copies, modify, reproduce, transmit, alter or distribute the Software or all or any part of the site or any material or information contained on it.
Any unauthorised use or reproduction may be prosecuted.
12.2 You agree that you will not use the Software for any unlawful purposes or for the purposes of sending or transmitting any data or other material:
- in a manner that constitutes a violation or infringement of the rights of any third party (including but not limited to intellectual property rights);
- that has harmful or destructive or damaging properties;
- that may constitute any form of collusion; or
- which is likely to cause harm or damage to the computer systems, network or equipment of any third party.
12.3 Buddybet may issue upgraded versions of the Software from time to time and will make such upgraded versions available to you. All such upgrades shall be deemed to form part of the Software for the purposes of these Terms and Conditions.
- Governing Law and Jurisdiction
13.1 Betting on the internet may be illegal in the jurisdiction in which you are resident. If so, you are not authorised to open an Account with Buddybet, place a bet using your Account or use any payment method to complete a transaction. It is your responsibility to check that you are permitted to bet with us according to the laws of the jurisdiction in which you live and/or in which you are located, and you agree that you will not bet with us while you are located in a jurisdiction which prohibits you from betting with us.
13.2 In order to comply with our legal obligations, we reserve the right to restrict access to all or certain parts of the Services in respect of certain jurisdictions and we may take steps to geo-block you from opening an Account with us or from betting on or using our Services (or any part of it) in a jurisdictions outside of Australia which does not permit online gambling with us. Currently jurisdictions outside of Australia cannot bet with us.
13.3 These Terms and Conditions (and the Customer Terms) will be governed by, and construed in accordance with, the laws of the Northern Territory, Australia.
13.4 By accepting the Customer Terms, including these Terms and Conditions and/or by opening a Buddybet Account, placing bets or wagers or by using any other facilities or Services provided by Buddybet, you agree to submit to the non-exclusive jurisdiction of the courts of Northern Territory, Australia (and any courts which have jurisdiction to hear appeals form these courts) in relation to all disputes under these Terms and Conditions.
13.5 Notwithstanding clause 13.4, Buddybet shall be entitled to bring a claim against a customer in the court of the customer’s country or state/territory of domicile.
- Miscellaneous Provisions
14.1 Third Party Links: We may provide links on the Website or App to the websites of other companies, whether affiliated with us or not. We do not give any warranties or undertakings in relation to these third party websites.
14.2 Cumulative rights: The rights and remedies in these Terms and Conditions are cumulative and, unless otherwise provided in these Terms and Conditions do not exclude any other rights or remedies available to you in law.
14.3 Severability: If any of the provisions of these Terms and Conditions is found by a court to be invalid, unlawful or unenforceable to any extent, such term, condition or provision will, to that extent will be severed from the remaining terms and shall not affect any other provision of the Terms and Conditions which remain in full force and effect.
14.4 Transfer of rights: The Customer Terms, including these Terms and Conditions for a contract which is binding on you and us and our respective successors and assignees. You are not permitted to transfer, assign, novate, charge or otherwise dispose of this contract, or any other rights or obligations arising under this contract or the Customer Terms without our prior written consent. Buddybet may transfer, novate, assign, charge or sub-contract this contract and Customer Terms, or any of our rights or obligations herein, at any time, to any party, including to any company within the corporate group of companies.
14.5 Notices: All notices must be provided, in writing, in English and must be delivered: (a) by you to Buddybet at the relevant email address or postal address as set out on the Contact Us page of the Buddybet Website; and (b) by Buddybet to you at the email or postal address you provided to us when you registered your Account. Any notice shall be deemed to be received and properly delivered or served: (a) if on the Website, immediately; (b) if sent by email or text message, with 24 hours of being sent; (c) if delivered by post, three (3) days after the date of posting.
14.6 Force Majeure Events: We will not be liable or responsible for any breach of these Terms and Conditions or any delay in performing, failure to perform any of our obligations if such delay or failure is caused by events, circumstances or causes outside our reasonable control, including (without limitation) any telecommunications network failures, power failures, failures in third party computer software or hardware, lightning, flood, fire, explosion, severe weather, industrial disputes or actions, terrorist activity or acts of government or other competent authorities. In such circumstances, the time period for performance of our obligations shall be extended by a period equivalent to the period during which the performance of the obligation has been delayed or failed to be performed.
14.8 Waiver: If Buddybet fails, at any time during the term of this contract, to insist upon the strict performance of any of your obligation under these terms, or if we fail to exercise any rights or remedies to which we are entitled, this does not constitute our waiver of any such rights or remedies in the future and does not absolve you of your obligation to comply with the contract. Any waiver by us of any default or rights shall not constitute a waiver of any subsequent default and no waiver shall be effective unless it is stated expressly to be a waiver and communicated to you in writing.
Betting – General Guidelines and Conditions
- Placing bets with Buddybet
- You understand and accept that you may only use our Platform if you:
- have a verified and approved active Account with us;
- are 18 years of age or older; and
- meet and comply with all other relevant terms set out in the Buddybet Customer Terms.
- If we are unable to verify your identity upon registration for an Account, we are unable to open your account, until we have verified your identity. As such, you will not be able to deposit funds.
- When a bet is placed, the User who creates and offers the bet, is known as the Challenger and the User who accepts the bet is known as the opponent.
- There can only be one Challenger and one Opponent in relation to each bet.
- All bets will remain unmatched until accepted by an Opponent.
- On our Platform you can set and offer a Templated Options or Build a Bet.
- Minimum and Maximum Bets: We allow a minimum bet limit is $5 and the maximum limit is $250. Before creating or accepting a bet using our Platform, you will need to ensure that your Buddybet Account has a sufficient fund balance to cover the full amount of the bet. You will not be permitted to place a bet that exceeds the balance in your Account. Details of your account balance can be found in “My Balance” on our Platform. You will be prevented from placing a bet which exceeds the maximum of $250. Note: if you have a Pre-commitment limit activated which is lower than $250 then the maximum bet you may place will be lower, and you will be limited to the pre-commitment limit you have selected – see Pre-Commitment Limits section of our Responsible Gambling Statement.
- Commission and payment structure: We charge a 5% commission with each matched bet. Buddybet reserves the right to amend the amount from time to time.
- Wagers cannot be placed on sporting events that is restricted to players under the age of 18.
- Betting events must have a clear outcome and if required can be independently verified with a final result that is publicly accessible.
- If necessary, be able to result a betting event within 5 days of the conclusion of the event.
- A market or betting event must not be offensive, distasteful or unsavoury. An auto language filter will be activated when the bet is submitted and will prevent the user from submitting a bet.
- Betting events must appear on the Northern Territory Racing Commission’s list of “Declared Events or Contingencies to be Sporting Event”.
- If either party has an active registered Self-Exclusion notice with Buddybet then you won’t be able to place a bet with Buddybet for the term nominated in the original Self-Exclusion application. If you attempt to search for a “Follower” who has registered a Self-Exclusion, then they won’t appear in the list. Alternatively, if you’ve previously allowed someone as a Follower and they’ve since registered a Self-Exclusion then they will not appear in the app any longer.
- Buddybet has implemented an algorithm which will rate users on how they adhere with the procedural requirements for choosing a winner of a bet. Users will be able to view the ratings of other users on the Profile Page.
- You understand and accept that you may only use our Platform if you:
- Templated Options
- Users will be presented with an opportunity to select from a list of templated bets that Buddybet may have available.
- Users have the opportunity to create a bet from inbuilt templates that incorporate dynamic statements. Totally completing a statement using wording supplied by the template will ensure the bet is able to be automatically approved.
- Templated bets, if completed in accordance with these rules, are automatically approved by Buddybet.
- An example of how to complete Templated Option is as follows:
Statement template: Player X will have more than X amount of points during the game
Final bet statement: Kyrie Irving will have more than 20 points during the Brooklyn Nets vs Boston Celtics
The table below shows the various choice options available for a template bet:
|Section Number||Template Section||Type||Sample values|
|1*||Player||Dynamic: Person||Kyrie Irving|
|2||will||List of Values||
● Will not
|3||have||List of Values||
● Not have
|4||more than||List of Values||
● More than
● Less than
● Define min/max values for this field
|6||points||List of Values||
|7||during||List of Values||
● During the first half of
Brooklyn Nets @ Boston Celtics
● List of games in order of date/time for the league this player is associated with
- After you have selected a templated option you will then be required to select an invitational method for your Opponent:
- Follower: place a bet against a friend by picking someone that is “Following” you. This option triggers an invitation from the Challenger to a specific follower; or
- All Followers: share your bet with all your Followers. Your followers will see your bet in their feed and will be able to accept your invitation.
- Open Bet: picking this option offers it to all Users utilising our Platforms. Noting that this option is only available if your profile is on public.
- The Challenger will be required to select a bet amount between $5 – $250.
- Templated Options will state “Start of Event” details. If a Templated Option has not been totally completed or wording has been changed, the bet then becomes a Build a Bet.
- As the Challenger, you will be able to set the bet by selecting “Confirm Bet” (provided the Challenger has sufficient funds in their Account as per clause 1.4 above).
- The Opponent will receive a notification inviting them to a bet (if the Challenger selected invitational method 2.4(a) above). After opening the notification, you will have the option to “Accept Bet”.
- The other method for an Opponent to accept a bet is via the “Open Bet” option in the app and accepting the selected bet.
- The Challenger will receive a confirmation notification when the bet has been accepted by an Opponent and will also indicate the name of the Opponent. All accepted bets can also be viewed under the “My Bets” section of the app.
- If a Templated Option is not accepted by an Opponent by the “Start of Event” date and time then the bet will be cancelled and removed from the Buddybet platform.
- Build a Bet
- Alternatively, if a template statement is not totally completed by the wording supplied for the template, or a template is not available for a specific challenge, the Challenger can Build a Bet.
- Build a Bets will be reviewed by Buddybet to ensure all guidelines and legal and regulatory obligations have been met prior to approval of the bet.
- Below are the criteria that user bet requests will be required to meet in order to be approved:
- To Build a Bet, the following sections need to be filled out on the mobile app before your bet can be confirmed:
- Name your bet
- Describe your bet
- Bet Amount
- Start of Event
- Buddybet has a built-in Word-ban list which will scan the bet for any distasteful, offensive and unsavoury content which is unacceptable based on normal public standards. The Challenger will be prompted to rectify these prior to being able to submit the bet.
- In Build a Bet, the Challenger will also be required to complete “Start of Event” details which requires a date and time. You will not be able to input a date and time greater than 12 months from the date and time that the bet is created.
- The Start of Event must be in accordance with any sporting fixtures or the time the contingency will take place. If the Start of Event is post the start time of any sporting fixture, Buddybet will reject such bet.
- After completing the relevant information for your bet, you, as the Challenger, will be able to place the bet request by selecting “Confirm Bet”, provided the Challenger has sufficient funds in their account balance.
- The bet will move into a pending state while being reviewed.
- If the bet type does not meet our guidelines, the bet will be rejected with comments.
- If a Build a Bet is rejected, the Challenger will need to create a new bet request for consideration for approval by Buddybet.
- The Opponent will receive a notification inviting them to a bet (if the Challenger selected invitational method 2.2(a) above). After opening the notification, you will have the option to “Accept Bet”. The other method for an Opponent to accept a bet is via the “Open Bets” option in the app and accepting a selected bet.
- The Challenger will receive a confirmation notification when the bet has been accepted by an Opponent and will also indicate the name of the Opponent. All accepted bets can also be viewed under the “My Bets” section.
- To Build a Bet, the following sections need to be filled out on the mobile app before your bet can be confirmed:
- Bet Settlement
- We provide the ability for both the Challenger and the Opponent who accepts the bet to mutually agree on a winner.
- A bet will not be finalised until both parties agree on a winner or a Buddybet Customer Service Representative has ruled on the outcome of the bet.
- Once the outcome of the bet has occurred, the bet can be finalised (by Challenger or Opponent) by selecting the relevant bet under the “My Bets” section on the app and selecting the “Choose Winner” option.
- If one party attempts to choose a winner before the outcome of the bet is determined, then the other party might opt to hold off on confirmation of the winner until the result is clear.
- Once the winner has been confirmed any winnings/losses in relation to the bet will be reflected in your Buddybet wallet in the app.
- Furthermore, if a dispute arises with regards to the final outcome of a betting event then both parties will be provided with an option to change their chosen winner or to request the outcome be verified by Buddybet.
- The latter provides the user with an option to forward a website link of an independent source which will be utilised by Buddybet for verification purposes.
- Once Buddybet is satisfied that sufficient information is available to determine with final outcome of the bet then the winner will be chosen by Buddybet. Alternatively, if insufficient information is available to verify the final outcome of the bet, then Buddybet will issue a full refund to both parties.
- All requests for verification will be processed within 48 hours.
- If 5 days has lapsed on a matched bet without a chosen winner, then the bet will be flagged for Buddybet to action.
- Buddybet may amongst other things request either party to provide a link to the final result.
- If insufficient information is available in the public domain from an official source, the initial bet amount placed by both parties will be refunded.
- Once the winner has been confirmed, winnings will be paid to the balance of the Buddybet account of the selected winner and deducted from the account balance of the losing party.
- You will be able to view your total winnings balance under the “My Balance” section in the Buddybet app.
- Any winnings will include a deduction to incorporate the commission payable to Buddybet.
- Requests to withdraw winnings amounts from your Buddybet wallet will be processed within 24 hours from the withdrawal request being made and will be paid directly into the nominated bank account details inputted by you as the chosen withdrawal method under the “My Account” section in the Buddybet app. Please ensure your nominated bank account details are kept current to ensure that the payments are made to the correct account. Buddybet may request that you provide confirmation of your identity before these amounts are paid.
- Cancellation of an offer for a bet
- You may cancel unmatched bets (with no fees applied) at any time by searching for the specific bet you would like to cancel under the “My Bets” section in the mobile app provided the bet hasn’t been accepted by an Opponent.
- Once a bet has been accepted by an Opponent it cannot be edited. This means that neither the Challenger nor the Opponent will be able to cancel the bet once it has been accepted by the Opponent.