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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

  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 ETB (One Thousand Birr) for 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 account that the user enters when requesting the withdrawal. 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. 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.

  4. In order to withdraw your money, you might be requested to send us a copy of your ID (front/rear). Whenever a transaction is made through bank transfer, credit card or electronic wallet, the first withdrawal request will be processed only after a security check has been performed. In such instances you may be required to supply the following papers together with the ID, in order to comply with our security policies:
    1. In case of card transactions, a copy of both sides of each of the cards used duly signed by the owner;
    2. A copy of an official document showing your billing address if it differs from the one registered in the ID;
    3. Any other document that may be relevant in order to complete the check. Full compliance with our requests will speed up the verification process.
  1. 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.

  2. An Administration Fee of 25% (Twenty Five Percent) will be charged on the value of the withdrawal request for withdrawal requests without a history of gameplay depending on the amount and the method used to fund and withdraw from your account.

  3. 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.

  4. BetKing may delay the withdrawal of any funds if they have a reason to believe that the winning amount is incorrect to allow them to investigate

 

WINNINGS ABOVE 20,000BRR

 

In compliance to our KYC (Know Your Customer) Policy, SV Gaming (BetKing) will require a valid means of identification to enable us to process a withdrawal request for such winning. The acceptable valid means of identification are driver's license, international passport, national identity card, or voter's card. If the event that we do not receive the required document, SV Gaming (BetKing) reserves the right to hold the winning till validation is complete.

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