Winnings

1. Winnings from settled bets are added to the balance of your betting account. Any funds/winnings credited to an account in error are not available for use and SV Gaming ltd reserves the right to retrieve the funds from your account by reversal or withdrawal, either at the time or retrospectively 

2.  A 20% withholding tax will apply on all winnings as required by the prevailing governing laws in Kenya, as per the Income Tax Act under section 35 (1) (I), (3) (h). 

3. The maximum pay-out limit per customer for each winning is set by the Company. It is the customer's sole responsibility to ensure he is aware of the set limits before any bet placement has been made. These payout limits are set out below:
   • Sports Bet winnings: Ksh 5,000,000
   • Virtual games and Casino games winnings: Ksh 1,000,000

4. Payout limits apply to each customer or group of customers who play the same or similar selection or combination of selections, even though divided into a series of bets, at different odds and even if carried out on different days or at different locations. If BetKing suspects that one or more bets have been made following this procedure, BetKing reserves the right to withdraw from these contracts considered abnormal and the total payment will be limited to a one-time the maximum payout as above listed.

5. BetKing reserves the right to publish wins above One Hundred Thousand Kenyan Shillings (100,000 KES) on Sports and/ or Twenty Thousand KES  (20,000 KES) on Virtual for marketing purposes. The personal information of the winner will not be published without consent. BetKing also reserves the right to invite the winner to our offices to take photographs to be used for marketing purposes before payment of the winning.

   If winnings are credited to an account for payment in error and are used as stakes, then Network Group Kenya Ltd (BetKing) reserves the right to void any transactions involving such funds.

   In the event that BetKing does not have an official statement by any official federation authority within 48 hours of the end of the game, we reserve the right to cancel the bet.                                           

6. BetKing Rule (Kenya)

   The maximum cumulative daily winnings limit across all user channels (mobile, online and retail) and customer accounts across the Betking platform within a 24 hour period will not exceed 2,000,000,000 KES. If the cumulative winnings amount during any 24 hour period exceeds the cumulative daily payout limit cap, then each customer account individual win available for payout will be reduced accordingly. For example, if the actual cumulative 24 hours period daily winnings across Betking is calculated at twice the set limit cap, then each individual customer winning amount will be halved.  Therefore, in that case, an individual bet with winnings of 20,000 KES would be paid out at 10,000 KES.

7. Sports Daily Winnings Limits

   In a 24 hour period each sport is subject to a ‘sports daily winnings limit’ as listed below. The sports daily winning limit applies per customer or group of customers who have placed bets containing the same selections. Where, bets have been placed through different channels (including online, mobile and land based retail), at different prices, at different times on one or multiple accounts it will still be deemed to be a single group of customers. By reviewing the commonality of selections if BetKing deem (at its sole discretion) that the bets are placed as a group all the bets combined will be treated with one maximum sports daily winnings limit. Where the sports daily winnings limits is exceeded bets will be paid out proportionally based on the pro rata amount of the stake within the customer betting group. All bets are deemed settled when the final selection finishes, in the case of system bets partial winnings will be deemed to have settled on the day of the final selection. Cashed out bets will count towards the aggregate winnings total. Stakes are not affected and will not be subject to reduction. Notwithstanding the above, all winnings also remain subject to the Maximum Cumulative Payout Rule set out above.

   Sports Daily Winnings Limit:

   Daily Limit Tier 1: 80,000,000KES

   Soccer: Match winner, 1x2, Double Chance, DNB, GG/NG and Over/Under Goals for the following competitions: 

   English Premier League
   Dutch Eredivisie
   Argentinian SuperLiga.
   Australian A-League
   Belgian First Division A
   Brazilian Serie A
   English Championship
   Copa Libertadores
   English FA Cup
   Fifa World Cup
   Finnish Veikkausliiga
   French Ligue 1
   German Bundesliga I
   Italian Serie A
   Japanese J-League
   English League 1
   English League 2
   Norwegian Tippeligaen / Eliteserien
   Portuguese Primeira Liga
   Scottish Premiership
   Spanish La Liga
   Turkish Super League
   UEFA Champions League (excluding qualifying)
   UEFA European Championship
   UEFA Europa League (excluding qualifying)
   USA MLS

   
   American Football: NFL
   Baseball: MLB
   Basketball: NBA
   Ice Hockey: NHL
   Tennis: ATP Grand Slam, WTA Grand Slam;

   Daily Limit Tier 2: 14,000,000KES

   All other markets available on BetKing but not listed in Tier 1 or Tier 3

   Daily Limit Tier 3: 5,000,000KES

   Esports, Esoccer, Table Tennis, Badminton

                                                                                    

    

 EX AEQUO RULE:

1. An "ex aequo” occurs when two or more participants in an event come in a tie for the first and second place.

2. In the event of two selections that end in an "ex aequo", the client’s bet is divided, with half of the stake applied to the winning selection and the other half lost. With more than two selections, the stake is divided proportionally.

3. The presence or absence of specific information on any event being bet on, such as events played on "neutral fields" or any changes to the playing surface, will not be cause for cancellation or refund of the bet. It is the bettor’s responsibility to be informed on such updates regarding the event being bet on.

    

VERIFICATION OF WINNINGS

 There might be instances, where In Entertainment Network Group Kenya (BetKing) may at our own discretion require a valid means of identification to enable us to process a withdrawal request. The acceptable valid means of identification are driver's license, international passport or national identity card. In the event that we do not receive the required document, Entertainment Network Group Kenya (BetKing) reserves the right to hold the winning till validation is complete.

In case of bank transfer of winnings, proof of winnings will be provided to the customer for their respective banks, and the customer will need to provide all relevant documents to prove the ownership of the bank account.

ANTE-POST/ OUTRIGHT/ WINNING

1. The rule of "non-runner" concerns the revision of odds on bets placed that result won in the case that one or more competitors in the market do not participate, retires or should be excluded from the event. In this case, a reduction factor will be applied to the odds of the remaining participants of the event. The reduction factor will be calculated taking into account his winning probability which will then be applied to the winning bets.
2. The reductions will be applied to placed bets.
   • Example: If the final reduction factor of a non-runner is equal to 25% of the value of the average odd placed (fixed odd equal to 4), the bets placed will be reduced by 25%, therefore a placed bet with odd at 8.00 will become of 6.00 and so on and so forth. If another player does not participate, retires or is excluded from the event, such values can be further reduced.
3. The 'reduction factor' established will be applied at BetKing’s discretion.
4. For any event where a specific rule is not specified on the BetKing site, all decisions on such event will be up to BetKing’s discretion.
5. All the results and statistics are sent by BetRadar.com. All the bets are settled once official results are sent by BetRadar.com. Statistics provided by the official score(s) provider or the official website of the relevant competition or fixture will be used to settle wagers. Where statistics from an official score(s) provider or official website are not available or there is significant evidence that the official score(s) provider or official website is incorrect, we will use independent evidence to support bet settlement. Should there be an incorrect result BetKing reserves the right to delay the payout of the winning until it has completed its investigation. In the case of an incorrect ODD BetKing reserve the right to reduce the odds to the correct amount at is sole discretion using the average of 3 websites of its choice.

Last Updated: 2020-05-31 00:39:57