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Deposits and Withdrawals

Deposits and Withdrawals

 Deposits

  1. Maximum and minimum limits apply to deposits depending on your history with BetKing, the method of deposit, and as determined solely by the Company. All funds will be paid, tracked and maintained in the currency chosen upon registration and shall not bear interest. Please note that maximum and minimum limits apply as determined by the payment provider you are using to make your deposits. For mobile money payments, the maximum deposit limit, as set by the mobile operator M-Pesa and Airtel Money is 70,000 KES per transaction and 140,000 KES per day.

  2. The Customer has the possibility to increase the balance of his account with one of the payment methods made available by BetKing.

  3. By funding their BetKing gaming account, Account Holders also acknowledge that any payments made with any depositing option available, in particular, Debit/Credit Cards, are irrevocable.

  4. Funds deposited are valid indefinitely, but if no transaction has been recorded in a BetKing account for twelve (12) months, BetKing shall remit the balance in that account to the Account Holder deducting a service charge of 1,000 KES (One Thousand Kenya Shillings) every month.
  1. The Customer agrees not to attempt any charge-backs, reversals or otherwise cancel any deposit previously made in his/her Account. Whenever any such event should occur the Customer commits to refund BetKing for the unpaid deposits and for possible expenses resulting from the recollection of the misplaced money.

  2. BetKing will hold the funds deposited in the Account as trustee for the Customer and not as his/her banker or debtor. Accordingly, there will be no obligation on the part of BetKing to repay money to the Customer as his/her debtor.

  3. By depositing funds into your account, you direct us and we agree to hold them, along with any winnings, for the sole and specific purpose of using them to place bets and settle any fees or charges that may be incurred in connection with the use of our services. We shall be entitled to suspend or close your account if we reasonably consider or have reason to believe that you are depositing funds without any intention to place sporting and/or gaming stakes. In such circumstances, we may also report this to relevant authorities.

Withdrawals

 

  1. The Customer can withdraw the residual balance using a payment method provided by BetKing.
  2. Withdrawals will be remitted to the same payment method used to deposit the funds to your BetKing account. In some instances, for large winnings, the customer may request a bank transfer. In such cases, validation of winnings and KYC will be requested from the customer.. Withdrawals may be subject to the details of the account holder matching the details of the BetKing User. No withdrawal will be authorized if it appears to be linked with transactions predominantly performed with the purpose of allowing the transfer of money from a payment means to another. If such a circumstance occurs, the relevant amount may only be remitted to the player through the same payment means from which the money deposited into the player’s account originated.

     

  3. By registering the account with BetKing you are confirming and you agree that you are the owner of the phone number entered during the registration process, you also agree that you are an account holder of the mobile money payment provider i.e. Mpesa or Airtel money which will be used for depositing and withdrawing funds from your account. All winnings and the outstanding balance will be processed to a mobile number used during the registration process.

  4. The name on your BetKing Account must match your true and legal name, and identity and the name that is provided on your BetKing Account registration must match the name that is found on any payment account used to transfer monies into and out of your Account unless you have elected to use a different account when placing a withdrawal request.

  5. There might be instances, wherein Entertainment Network Group Kenya (BetKing) may at our own discretion require a valid means of identification to enable us to process a withdrawal request. In such instances you may be required to supply the following papers together with the ID, in order to comply with our security). In such instances you may be required to supply the following papers together with the ID, in order to comply with our security policies:
    • In case of card transactions, a copy of both sides of each of the cards used duly signed by the owner;
    • A copy of an official document showing your billing address if it differs from the one registered in the ID;
    • Any other document that may be relevant in order to complete the check. Full compliance with our requests will speed up the verification process.
  6. All withdrawals from betting accounts will be subject to audit before being processed. If the audit shows that the Customer has violated the provisions of the Terms of Use, BetKing may reclaim any bonuses or winnings previously attributed.

  7. Payouts handled manually through an ordinary bank transfer are processed within 5 banking days. However, the Customer acknowledges that the Banks determines when the payment is made and BetKing cannot do anything to speed up this process. As an alternative, withdrawals through QuickTeller transfer etc. are usually processed within 24 hours from the request. BetKing reserves the right to carry out additional verification procedures for pay-outs exceeding a certain amount, or when there is a suspicion of misuse of accounts or money laundering.
  8. There may be instances, where BetKing may delay the withdrawal of any funds if there is a reason to believe that the winning amount is incorrect or the company may require additional KYC (customer documentation) validation.

 

 

 Last Updated: 2020-05-31 01:12:00

 

 

 

 

 

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