Luxbet CASH OUT TERMS AND CONDITIONS ( Luxbet Cash Out T&Cs )

Transcription

1 Luxbet CASH OUT TERMS AND CONDITIONS ( Luxbet Cash Out T&Cs ) 1. WHAT IS LUXBET CASH OUT AND HOW DO I USE IT? 1.1 What is Luxbet Cash Out? Luxbet Cash Out is a function that allows Eligible Participants to manage their exposure on an Eligible Bet prior to that bet resulting by agreeing to share a proportion of the proceeds of that Eligible Bet with COPL once the bet results, in return for an upfront payment from COPL, subject to these Luxbet Cash Out T&Cs. 1.2 What is an Eligible Bet? (d) An Eligible Bet means any fixed odds bet placed with Luxbet by an Eligible Participant in accordance with the applicable Betting Rules where the bet has Cash Out functionality enabled at the time a Cash Out Offer is requested, but excludes any Excluded Bet (as defined Schedule A). If a bet is not an Eligible Bet, you will not be able to Cash Out the bet. Once an Eligible Bet is Cashed Out, it will cease to be an Eligible Bet. For the sake of clarity: Not all bets will be Eligible Bets; and the Cash Out functionality may be suspended at any time in relation to a particular event or bet type, where the Cash Out functionality is suspended, any relevant bet will cease to be an Eligible Bet for the duration of the suspension; and each Eligible Bet that was eligible for Cash Out will, at some point, cease to be eligible for Cash Out and will therefore cease to be an Eligible Bet. For example a single leg bet on an event will cease to be an Eligible Bet once that event concludes. 1.3 Who is an Eligible Participant? An Eligible Participant is a customer of a Luxbet who Luxbet determines: (d) (e) (f) is a resident of an Approved Jurisdiction; is at least 18 years old; is a Recreational Gambler; is not a Restricted Person; is not an Excluded Customer; and is not an Ineligible Customer. Luxbet CASH OUT T&Cs (version 1.3) 1

2 1.4 How can Eligible Participants request a Luxbet Cash Out Offer? In relation to Eligible Bets placed though an Account Channel prior to the commencement of all events or races which comprise the Eligible Bet, the Eligible Participant who placed the bet may request a Luxbet Cash Out offer in relation to that Eligible Bet, via the same Wagering Account using an Approved Account Channel (currently limited to and the Luxbet ios app). In relation to Eligible Bets placed though an Account Channel after any event or race which comprises the Eligible Bet has commenced, the Eligible Participant who placed the bet may request a Luxbet Cash Out offer in relation to that Eligible Bet, via the same Wagering Account using an Approved Live Account Channel (currently limited to telephone services). 1.5 Luxbet Cash Out offers are subject to change The odds of any particular outcome may change rapidly and as a result each Luxbet Cash Out offer is subject to change. Upon the value of a Luxbet Cash Out offer changing, any Luxbet Cash Out offer made but not yet accepted will immediately expire. If an Eligible Participant attempts to accept a Luxbet Cash Out offer that has changed prior to COPL s receipt of the relevant Eligible Participant s acceptance of that Luxbet Cash Out offer, that Luxbet Cash Out offer will be deemed to have expired at the time the offer changed and as a result the purported acceptance by the Eligible Participant will be ineffective. 1.6 When can I Cash Out an Eligible Bet? Subject to clause 1.6, an Eligible Participant may request a Luxbet Cash Out Offer in relation to an Eligible Bet at any time after placing the Eligible Bet, up until the Eligible Bet results. See clause 1.2 for what is an Eligible Bet. Each Eligible Participant acknowledges that COPL is under no obligation to make a Cash Out offer in relation to any Eligible Bet and agrees that COPL reserves the right to determine (in its absolute sole discretion): if and when any Luxbet Cash Out offer is to be made to a particular Eligible Participant; if and when any Luxbet Cash Out offer is to be made in relation to a particular Eligible Bet; and if a Luxbet Cash Out offer is made conditionally or unconditionally. 1.7 How do Eligible Participants receive the upfront payment? If an Eligible Participant accepts a Luxbet Cash Out offer from COPL made via their Wagering Account using an Approved Account Channel or an Approved Live Account Channel, COPL will transfer the Upfront Payment to the Wagering Account that was used to place the bet. Luxbet CASH OUT T&Cs (version 1.3) 2

3 1.8 Set off by Luxbet By accepting a Luxbet Cash Out offer, the Eligible Participant grants each of Luxbet and COPL an express right of set off in relation to the proportion of the Bet Proceeds that the Eligible Participant agreed to share with COPL and consents to Luxbet paying any such amount to COPL. 1.9 What is Luxbet s role in the Cash Out process? Luxbet is simply acting as a facilitator to the Luxbet Cash Out transactions between its customers and COPL. Luxbet has engaged COPL to provide the Cash Out functionality to provide Luxbet s customers with the latest in wagering functionality Your Key Acknowledgements By an Eligible Participant accepting a Luxbet Cash Out Offer, they accept: the relevant bet has been Cashed Out and that process cannot be reversed or amended, except as set out in these Luxbet Cash Out T&Cs; that they will not receive any payout, dividend or refund in relation to the proportion of Eligible Bet that they agreed to Cash Out; and once COPL has the Upfront Payment credited to the relevant Wagering Account, COPL has no further obligation to the relevant Eligible Participant in relation to that Eligible Bet. Each Eligible Participant agrees that until such time as they have notified Luxbet that: that there has been unauthorised access to and/or use to their Wagering Account, that: Luxbet may assume that all activity on a Wagering Account has been conducted by the account holder; COPL may assume that all requests for and any acceptance of a Cash Out offer via a Wagering Account was undertaken by the account holder, and, therefore, the account holder will bear any losses suffered due to such unauthorised use of their Wagering Account. If Luxbet becomes aware of a bet being Cashed Out by a person who is not an Eligible Participant, it may at its discretion, after consultation with COPL, cancel the Cash Out transaction and recover the Upfront Payment from the relevant person as a debt due. 2. OTHER KEY TERMS An Eligible Bet can only be Cashed Out once. Luxbet CASH OUT T&Cs (version 1.3) 3

4 (d) (e) (f) (g) (h) An Eligible Bet placed via an Account Channel can only be Cashed Out through the actual Wagering Account in which it was placed. Luxbet consents to and hereby authorises Eligible Participant to Cash Out their Eligible Bets with COPL subject to these Luxbet Cash Out T&Cs. Luxbet consents and authorises COPL to Cash Out the Eligible Bets belonging to Eligible Participant. Luxbet, COPL and each person who requests and/or accepts a Cash Out offer from COPL, hereby expressly agrees that all communications between any of the parties occurred in the Northern Territory, Australia. Luxbet reserves the right, at its discretion (or at the request of COPL) to request a person to provide proof of age, proof of identity and/or proof of residency, prior to determining that they are an Eligible Participant. If an Eligible Participant s Luxbet Account is suspended for any reason, the Eligible Participant will not be able to Cash Out any existing Eligible Bet during the period that the account is suspended. If an Eligible Participant s Luxbet Account is restricted to certain Channels for any reason, the Eligible Participant will not be able to Cash Out any existing Eligible Bet that can only be Cashed Out via a Channel that has been restricted for that Eligible Participant. 2.2 Erroneous credits to a Wagering Account If an amount has been incorrectly credited to a Wagering Account in connection with an Eligible Bet being Cashed Out, Luxbet: may adjust the account to the extent necessary to rectify the incorrect credit; and if, as a result of such adjustment, the account is in debit (that is has a negative balance), may recover from the holder of the account as a debt due, the amount of the deficiency in the account. 3. LUXBET CASH OUT T&C S & OTHER KEY DOCUMENTS 3.1 Key Documents Luxbet Customers These Luxbet Cash Out T&Cs must be read in conjunction with the following documents: the Luxbet Account Terms and Conditions; and the Luxbet Betting Rules. In relation to customers of Luxbet, the documents listed above in this clause 3.1 will be referred to in this document as the Key Documents. 3.2 Acceptance of Luxbet Cash Out T&Cs and Key Documents Each person who: Luxbet CASH OUT T&Cs (version 1.3) 4

5 requests a Luxbet Cash Out Offer; receives a Luxbet Cash Out Offer; and/or accepts a Luxbet Cash Out Offer, in doing so accepts and agrees to these Luxbet Cash Out T&Cs and the applicable Key Documents current at the time that the relevant Luxbet Cash Out Offer was made. 4. COSTS, TAXES ETC Any other costs associated with an Eligible Bet being Cashed Out, including any applicable taxes, insurance, and other ancillary costs are the responsibility of the Eligible Participant who accepted the relevant Luxbet Cash Out offer. Luxbet encourages each Eligible Participant to seek independent financial and tax advice about any implications (including tax implications) that may arise prior to requesting a Luxbet Cash Out Offer. 5. EXCLUSION OF LIABILITY AND WARRANTIES 5.1 General Exclusion of Liability Whilst Luxbet will use all reasonable efforts to make the Luxbet Cash Out facility available to Eligible Participants in accordance with these Luxbet Cash Out T&Cs, by requesting a Luxbet Cash Out Offer and/or accepting a Luxbet Cash Out Offer, Eligible Participants acknowledge and accept that circumstances within or beyond the control of Luxbet may prevent, limit or delay the operation of the Luxbet Cash Out functionality, and that neither Luxbet or Luxbet s Related Companies will be liable to any person for any Loss, incurred or sustained in connection with or as a result of: the Luxbet Cash Out functionality being unavailable or delayed; and/or any act or omission, deliberate or negligent, by any Eligible Person or other third party, in connection with any Luxbet Cash Out Offer. 5.2 Implied Warranties Any representation, warranty, condition or undertaking that would be implied to be given by Luxbet and/or COPL under these Luxbet Cash Out T&Cs by way of legislation, common law, equity, trade, custom or usage, is excluded to the maximum extent permitted by law. Nothing in these Luxbet Cash Out T&Cs affects, nor is intended to affect, any rights that an Eligible Participant might have that are not able to be excluded under applicable Australian consumer protection laws or any other applicable Australian law that cannot be excluded, restricted or modified by agreement. Luxbet CASH OUT T&Cs (version 1.3) 5

6 5.3 Customer Warranties Each customer who requests a Luxbet Cash Out offer warrants to each of Luxbet and COPL that: all information provided by him or her to Luxbet and/or COPL is true and correct; and they are in a jurisdiction where they are permitted to request and/or accept a Luxbet Cash Out Offer. 6. PRIVACY POLICY In addition to any rights specified in the applicable Luxbet Cash Out T&Cs, the terms and conditions on which Luxbet may collect, store, use and disclose an Eligible Participant s personal information are contained in the Luxbet Privacy Policy located on Luxbet s website, For the sake of clarity, each person that requests a Luxbet Cash Out Offer expressly consents to Luxbet disclosing the person s personal information to COPL for the purpose of: (iv) (v) COPL assessing a request to Cash Out an Eligible Bet; COPL communicating with the Luxbet customer in relation to a request to Cash Out an Eligible Bet; COPL recording Luxbet Cash Out transactions; COPL advertising to Luxbet customers in relation to the Cash Out functionality; and other matters ancillary to the items outlined in items 6 to REGULATORY EXCLUSIONS To comply with the specific regulatory regimes, residents of certain Australian States and/or Territories may be ineligible to utilise the Luxbet Cash Out functionality. For the sake of clarity, nothing in these Luxbet Cash Out T&Cs varies the applicable Betting Rules for any Eligible Bet. 8. GOVERNING LAW & UPDATES TO T&CS 8.1 Governing law In relation to all matters relating to Luxbet Cash Out in connection with a bet placed with Luxbet, these Luxbet Cash Out T&Cs will be governed by and construed in accordance with the laws in force in the Northern Territory and Luxbet, COPL and each customer who requests and/or accepts a Cash Out offer, irrevocably submits to the exclusive jurisdiction of the courts of the Northern Territory in respect of any such dispute or matter arising from these Luxbet Cash Out T&Cs. Luxbet CASH OUT T&Cs (version 1.3) 6

7 8.2 Changes to these General T&Cs Luxbet reserves the right to change, amend or add to these Luxbet Cash Out T&Cs as it sees fit or at the request of COPL. Luxbet will notify its customers by posting a revised set of Luxbet Cash Out T&Cs on its website at from time to time. By accepting a Luxbet Cash Out Offer following any such notification, you will be deemed to have accepted the version of the Luxbet Cash Out T&Cs on at the time you accepted the Luxbet Cash Out Offer. You are encouraged to review the website on a regular basis to ensure you are aware of the latest version of the Luxbet Cash Out T&Cs. 9. DEFINITIONS & INTERPRETATION 9.1 Definitions: In these Luxbet Cash Out T&Cs, unless the context requires otherwise: Account Channel means any Luxbet channel available to access a Wagering Account including Luxbet s websites, Luxbet s ios app, Luxbet telephony services and such other channels as Luxbet may provide from time to time. Approved Account Channels means Luxbet s main website and Luxbet s ios app. (d) (e) (f) (g) Approved Jurisdiction means any jurisdiction other than a jurisdiction that Luxbet cannot allow the residents of, or persons located in, to open or operate a Luxbet Account or to place wagers, transact with Luxbet from, as specified in Luxbet s Account T&Cs. Approved Live Account Channel means Luxbet s telephone service only. Bet Proceeds means the total amount payable by Luxbet to the Eligible Participant in relation to the Eligible Bet under the Luxbet Betting Rules. Bonus Bet means a bonus bet offered by Luxbet pursuant to the Luxbet Standard Bonus Bet and Account Top Up Terms and Conditions and the Luxbet Bonus Bet Rules. Consequential Loss means any and all losses suffered by a participant that cannot reasonably be considered to arise naturally from the breach, event or events giving rise to the losses; and any and all loss of profits, loss of revenue and loss of opportunities, whether arising in contract, tort (including negligence) or equity or under any statute. (h) COPL means COPL Pty Limited ACN Eligible Participant has the meaning given to that term in clause 1.3. Luxbet CASH OUT T&Cs (version 1.3) 7

8 (j) (k) Excluded Bets means bets set out in Schedule A or such other bets that Luxbet determines to be Excluded Bets from time to time. Excluded Customer means a Luxbet customer who: has notified Luxbet that they have difficulties managing their gambling behaviour; is a self-excluded patron (whether voluntarily or involuntarily); or is a person who Luxbet or COPL has determined (in their sole discretion) is an individual that has difficulties managing their gambling behaviour. (l) (m) (n) (o) (p) (q) (r) (s) (t) (u) Ineligible Customer means a Luxbet customer who Luxbet or COPL determines is no longer eligible to participate in Luxbet Cash Out, for example if the customer is exploiting Luxbet Cash Out in a manner which is not acceptable to Luxbet or COPL. Luxbet or COPL will use best endeavours to notify the customer as soon as possible after making such determination. Loss means loss, including any direct, indirect or Consequential Loss. Luxbet means Luxbet Pty Ltd. Key Documents has the meaning given in clauses 3.1 for Luxbet customers and Luxbet Customers respectively. Promo Code means the code specified by Luxbet which is required to be used to earn a Luxbet Bonus Bet. Recreational Gambler means a gambler who, in Luxbet s view and sole discretion, only gambles on a recreational basis. Related Company means, with reference to an entity, its Related Bodies Corporate as defined in the Corporations Act 2001 (Cth). Restricted Person means a person who is ineligible to participate in certain forms of gambling due to their direct or indirect involvement in the underlying activity e.g. a participant in a race or sport. Upfront Payment means the upfront payment from COPL to the Eligible Participant in consideration for the Eligible Participant agreeing to share the Bet Proceeds with COPL. Wagering Account means a betting and wagering account held with Luxbet. 9.2 Interpretation In these Luxbet Cash Out T&Cs, unless the context requires otherwise: the singular includes the plural and vice versa; the headings are used for convenience only and do not affect the interpretation of these Luxbet Cash Out T&Cs; Luxbet CASH OUT T&Cs (version 1.3) 8

9 (d) (e) (f) (g) other grammatical forms of defined words or expressions have corresponding meanings; the word "person" includes an individual and any entity or body whether incorporated or not; wherever "include" or any form of that word is used, it must be construed as if it were followed by "(without limitation)"; money amounts are stated in Australian currency unless otherwise specified; and a reference to any agency or body, if that agency or body ceases to exist or is reconstituted, renamed or replaced or has its powers or functions removed (replaced body), means the agency or body which performs most closely the functions of the replaced body. Luxbet CASH OUT T&Cs (version 1.3) 9

10 Schedule A Excluded Bets 1. Luxbet Bonus Bets and promotions All Bonus Bets are Excluded Bets. All fixed odds bets placed using a Promo Code are Excluded Bets. 2. Luxbet Tote Products All of Luxbet Tote or Tote derivative products including (but not limited to): a. STAB b. STAB Bet c. STAB + 5% d. NSW e. NSW Bet f. NSW + 5% g. Tatts/UBET h. Tatts/UBET +5% i. Best Tote + x% j. LuxDiv k. LuxBest l. LuxTote m. Bookies Best (BB) +10% n. BB +20% o. BB + 50% p. Best of Best (BOB) q. BOB x 2 r. LuxMid 3. Other Excluded Bet types a. TopFluc b. SP Luxbet CASH OUT T&Cs (version 1.3) 10