Terms and Conditions: General
Account Activation Procedure
Gbets will only accept account activations made online or by telephone. Betting accounts are not accepted in any other form (post, email, fax, etc.) and where received, will be deemed invalid
Issuing Credit Procedures:
Gbets does not offer any credit facility to clients
Dispute Resolution Process:
Any dispute will be escalated to the higher authority, being the Western Cape Gambling and Racing Board for resolution.
Eligibility to bet:
No person may apply for an account or place a bet with Gbets or enforce any debt arising out of a bet unless such person is a natural person (companies, close corporations and other corporate entities are disqualified from betting); is at least 18 years of age; has completed in full an account application form, complied with FICA requirements and been accepted as an account holder by Gbets; is not listed on the register of excluded persons referred to in section 14 of the National Gambling Act, 2004, and is not in breach of these Terms and Conditions.
Any person who completes the account application form warrants thereby that he/she has read, understood and accepted these Terms and Conditions and all Rules relating to betting on sporting events or horseracing or any other lawful contingency published on this Site from time to time; and will be deemed thereby to have made an application requesting Gbets to conclude an agreement in accordance with these Terms and Conditions for the provision of a horse racing and sports betting service to such person (hereinafter “the Customer”).
Procedure for placing bets
All open/pool bets are subject to the following limits:
|Swinger||R500 per 1 bet unit|
|Double||R1000 per 1 bet unit|
|Trifecta||R10 000 per 1 bet unit|
|Quartet||R20 000 per 1 bet unit|
|Exacta||R500 per 1 bet unit|
|Jackpot||R50 000 per 1 bet unit|
|Pick 6||R100 000 per 1 bet unit|
|PA||R1000 per 1 bet unit|
|Pick 3||R2000 per 1 bet unit|
|Bipot||R20 000 per 1 bet unit|
The maximum pay-out per open bet (swinger, double, trifecta, quartet, exacta) is R50 000. The maximum pay-out per exotic open bet (pick 6, jackpot, Pa, pick 3, bi-pot) is R50 000. The maximum pay-out per customer/per event is R50 000 no matter how many single bets have been taken and no matter whether they are across different bet types. In the event that the pool is less than the pay-out limits displayed above, the pool dividend will be used for payout purposes. Should the pool exceed the payout limits in the table above then the amounts in this table will be used as the dividend for pay-outs and / or percentage payouts, not exceeding R100 000 for open bets and R100 000 for open exotic bets.
- The Customer shall place his/her bets via an internet enabled device.
- Irrespective of the origin or physical location of where a bet on this site is placed, the software programme is operated from a licensed premises.
- Gbets may in its sole discretion elect whether to accept or to reject a bet requested, or any component thereof. As an example, placing multiple bets on one market / match will result in your bet being void. i.e. You cannot bet for Horse A and Horse B to both win in the same race / market. This constitutes hedging bets. Furthermore, Gbets reserves the right to void any similar 'related outcome' bets.
- The Customer shall bear the responsibility of ensuring that the bet is accurately placed and recorded by Gbets via an electronic bet slip. Gbets shall furnish such confirmation of a bet to the Customer once a bet has been confirmed on the system.
- Gbets shall accept bets during normal South African business hours and at such other times as Gbets may deem fit.
- The Customer shall be responsible for ensuring that he/she has full knowledge of the rules applicable to the market within which the Customer proposes to place a bet.
- The placement of a bet signifies the Customer’s acceptance of the Rules published by Gbets in respect thereof and of these Terms and Conditions.
- All individual and/or multiple (in one transaction i.e. as recorded per bet) betting transactions of whatsoever nature will be limited to a maximum payout (liability) of R50 000 (fifty thousand rand only). In accordance with this rule you hereby agree not to transact the same betting transaction (so as to circumvent this rule) in another separate betting transaction (either on your own account or by utilising the account of another person) and should you do so then you acknowledge that Gbets will have the right, in its sole and unfettered discretion, to cancel the original and any other similar betting transactions to which you are a party i.e. before any of the events indicated in the betting transaction have commenced and/or during or after any of the events have commenced and/or have been completed i.e. in such circumstances you will only be entitled to a refund of the amount staked and more particularly will not be entitled to claim any amount should the whole and/or part of the betting transaction have been successful / partly successful.
- While Gbets will endeavour to ensure complete accuracy in relation to the announcement, publication and issue of prices, off-times (starting times of events) and results, it does not accept responsibility for any errors which may arise in this regard and reserves the right to correct any such errors in such manner as it may determine in its sole discretion. The Customer indemnifies and holds Gbets harmless in respect of any losses, whether potential or actual and direct or indirect, which may be suffered in consequence of any such error.
- Any bet alleged to have been placed in respect of which the details are not recorded on or reflected by Gbets betting terminals or wagering software, or confirmed by voice recording devices will not be recognized by Gbets.
- The time of acceptance of a bet shall be the time at which such bet was recorded on Gbets betting terminals and/or wagering software.
- Any bet accepted after the “off” or starting time of the event on which such a bet is struck (other than bets in-running) shall be null and void and of no force or effect. Any bets taken on results already known at the time of the placement of such bets will be voided/cancelled by Gbets.
- Additional or new markets may be made available by Gbets from time to time. It is the responsibility of the Customer to read the "Market Rules" applicable before placing any bets.
- Once an agreement has been reached, the transaction cannot be cancelled unless Gbets agrees otherwise.
- Gbets reserves the right to refuse the whole or part of any transaction requested by the customer at Gbets’ sole discretion.
- An appropriate bet confirmation is the only time a transaction is accepted.
Payment to the customer:
- Gbets shall credit the Customer’s account in respect of winnings and refunds accruing to the Customer in consequence of bets placed on an ongoing basis. The minimum withdrawal amount is R20. No interest shall accrue on any deposits held by Gbets.
- In the event that funds are incorrectly credited to a Customer’s account, it shall be incumbent on the customer to notify Gbets of the aforesaid error without delay. Unless otherwise notified by Gbets, any betting transactions concluded by the Customer subsequent to the error shall be void.
- Recovery of amounts owing to Gbets in the event that funds are incorrectly credited to a Customer’s account, it shall be incumbent on the customer to notify Gbets of the aforesaid error without delay. Unless otherwise notified by Gbets, any betting transactions concluded by the Customer subsequent to the error shall be void.
- In the event of a debit balance in the Customer’s account owing to the acceptance of a bet in excess of the credit or deposit limit, the Customer shall, within three (3) business days of a written demand by Gbets for payment of same, pay to Gbets such amount either by depositing the relevant amount directly into the banking account of Gbets, in which event the Customer’s account number with Gbets must be entered onto the base of the deposit Slip; and a copy of the deposit slip must be forwarded to Gbets by the Customer, or by furnishing Gbets with written authorisation, in such format as Gbets shall require, for the recovery by Gbets of the relevant amount from the Customer’s credit card company.
- Gbets shall not under any circumstances whatsoever be liable to the Customer if the Customer’s credit card company refuses to honour any claim lodged by Gbets against the Customer’s credit card. No dispute of whatever nature between a Customer and the credit card company shall exempt the Customer from his liability to Gbets in respect of payment and the Customer shall not be entitled to instruct Gbets to reverse a payment instruction that has already been made to the Customer’s credit card company.
- Gbets shall not be responsible for any failure, malfunction or delay of any electronic funds transfer unit or other credit card processing machine or its supporting or sharing network, resulting from circumstances beyond the control of Gbets, or any damages, loss or expense which the Customer may suffer as a result thereof, and be liable for any loss or damage suffered by the Customer as a result of the unauthorized access to any data or as a result of incorrect information supplied through an electronic funds transfer unit or other credit card processing machine or its supporting or sharing network.
- The Customer shall be entitled to request the withdrawal of funds standing to the credit of his/her Gbets account and the transfer thereof into a chequing, savings or credit card account nominated by him/her for this purpose, by completing a Request for Electronic Transfer of Funds Form, available on the website of Gbets and submitting same to Gbets in such manner and format as Gbets may determine and shall publish on its website from time to time.
- The Customer shall be solely responsible for ensuring the accuracy of the information supplied in any Request for Electronic Transfer of Funds Form and, by his/her signature of such Form, shall warrant the accuracy thereof. Gbets shall accept no liability for the payment of any amount requested into any banking account based in whole or in part on incorrect information provided by the Customer.
- On receipt of a fully completed Request for Electronic Transfer of Funds Form, Gbets shall perform such investigation as may be required to confirm that the amount requested by the Customer, after effecting all deductions or adjustments which may be required, is available to be transferred from the Customer’s Gbets account to the banking account nominated by the Customer for this purpose. If the requested amount is not available in the Customer’s Gbets account, inform the Customer in such manner as Gbets may deem fit, that the request has been declined.
- In the event that the requested amount is available in the Customer’s Gbets account, effect, within 24 hours of confirming the availability of the amount, the electronic transfer of the requested amount from the Gbets account of the Customer to the account nominated by the Customer; provided that, for the purposes of this Clause, Gbets shall be deemed to have fully complied with its obligation to effect such transfer at the time of giving the instruction to its bankers to effect such transfer and the 24-hour period contemplated in this Clause shall not include such further period as may elapse before the requested amount is deposited into the banking account nominated by the Customer for this purpose, and immediately reduce the balance standing to the credit of the Gbets account of the Customer by the amount so transferred.
- Gbets does not allow the opening of accounts with non-South African addresses, contact details and/or bank accounts. Due to Exchange Control restrictions no withdrawal request to a non-South African bank account will be processed. In the event of a withdrawal request to a non-RSA bank account. All payments to fund the account will be reversed and bets cancelled. Please contact email@example.com to query whether a bank account will qualify for withdrawal if unsure.
- For payment processing and verification purposes, Gbets reserves the right to ask for a client’s FICA documents – certified copies of Identity Document / Passport and Proof of Residence.
The minimum stake per transaction is R1.00
All horse racing winnings are subject to a 6% government tax deduction.
A bet is accepted on the understanding that it is the investment of one customer and the maximum amount that one customer may win on one day's trading, irrespective of the stake is listed below.
Where bets have been transacted on different days, the 'maximum amount that one customer may win on one day's trading' is determined by the day that the final event/market is resolved and not on the individual day on which each bet was transacted.
Should a number of bets, containing the same selections be placed by one or more account holders, and Gbets Racing has reason to believe that these bets originated from the same customer or syndicate of customers, Gbets Racing reserves the right to limit the total payment of all such bets to the maximum amount that a single customer may win on one day's trading.
|HORSE RACING FIXED AND TOTE LIMITS|
|WIN||R 50 000,00|
|PLACE||R 50 000,00|
|TOTE WIN||R 50 000,00|
|TOTE PLACE||R 50 000,00|
|SWINGER||R 50 000,00|
|DOUBLE||R 50 000,00|
|EXACTA||R 50 000,00|
|TRIFECTA||R 50 000,00|
|QUARTET||R 50 000,00|
|JACKPOT||R 50 000,00|
|PLACE ACCUMULATOR||R 50 000,00|
|PICK SIX||R 50 000,00|
|PICK THREE||R 50 000,00|
36. Deduction Table:
|Odds of withdrawn horse / participant||Deduction|
|25/1 and more||0%|
|13/1 to 20/1||5%|
|9/1 to 12/1
|6/1 to 8/1||15%|
|4/1 to 11/2||20%|
|3/1 to 7/2||25%|
|22/10 to 28/10||30%|
|16/10 to 2/1||35%|
|13/10 to 15/10||40%|
|11/10 to 12/10||45%|
|8/10 to 9/10||55%|
|6/10 to 7/10||60%|
|1/3 and shorter||80%|