TERMS AND DEFINITIONS
1. Platform terms
1.1 The “Company” – CopyBet UK Ltd (3rd Floor, 120 Baker Street, London W1U 6TU), licensed by the UK Gambling Commission, operating license No. 000-053774-N-330744-002.
1.2 A “Client” is an individual aged 18 or older with a CopyBet Profile opened on their behalf.
1.3 “CopyBet” is a copy-betting platform provided by the Company.
1.4 A “CopyBet Profile” is a Client's private virtual workspace in the copy-betting platform.
1.5 A “Tipster” is the owner of a CopyBet Profile, who offers bets for Followers to copy.
1.6 A “Follower” is an owner of a CopyBet Profile, who subscribes to a Tipster(s) and copies their bets.
1.7 An “Affiliate” is a Client, who earns commission by attracting new Followers to the Company.
1.8 A “Commission” is a remuneration, which the Company, a Tipster, and an Affiliate receive from the bets copied by a Follower.
1.9 A “Wallet” is an internal payment service intended for depositing/withdrawing money to/from a CopyBet Profile and distributing commissions between the Company and a Client. The platform provides each Client with only one Wallet in the system.
1.10 A “Betfair Exchange account” or a “Betfair Account” is a Client’s account opened on the Betfair Exchange and linked to their CopyBet Profile.
1.11 A “Nickname” is a username displayed in the Platform instead of a Client’s real name.
2. Betfair Exchange Terms
2.1 Betfair Exchange is a the service of BetFair company, which allows Clients to bet against each other. Link: https://betting.betfair.com/what-is-a-betting-exchange.html
2.2 A “Bet” is an agreement to risk money on the unknown result of an Event in order to receive profit.
2.3 An “Event” is an event with an equivocal outcome (for example, a football match), which one can bet on. Includes one or several Markets.
2.4 A “Market” is a set of possible results of an Event, which can be bet on. For instance, a Market of “Match odds” in a football match includes three possible results: the win of the first team, the win of the second team, and the tie.
2.5 Bet type: “Limit”. When copying bets, only Limit type bets are taken into account. When the bet is placed, a particular coefficient limit is specified. Such a bet can be executed by Betfair only with the coefficient that is better or equal to the specified one.
2.6 Bet side: “Back/Lay”. Each possible result of a market can be bet on two sides – back or lay.
- Back wins if a Market outcome is exactly the same as specified.
- Lay wins if an outcome of a Market is different from the specified one.
- Link: https://betting.betfair.com/what-is-lay-betting.html
2.7 A “Bet Size” is an amount of money, which defines the risk level and the size of the possible Bet Profit. The Bet Side and Price are taken into account.
2.8 A “Bet Price” is a ratio between a Bet Size and the size of the possible Bet Profit (loss). Decimal odds are used. Link: https://betting.betfair.com/decimal-odds-converter-fraction-odds-betfair-explained.html
2.9 A “Bet Liability” is an amount of money that is used for maintaining a bet and will be lost in case of a loss. It defines the bet risk level.
- For "Back" Bets: Liability = Bet Size
- For "Lay" Bets: Liability = (Bet Size) * ((Bet Price) -1)
2.10 Betfair Exchange “Account Exposure” is a part of the Betfair Exchange Account balance reflecting the result of placing bets. It shows how much money will be transferred from a CopyBet Profile in case of the worst outcome for all open bets.
2.11 Betfair “Market Exposure” is a part of total Account Exposure calculated for this particular Market.
2.12 “Cashout” is a feature that allows you to settle your bet(s) or a portion of it/them before the end of the Event.
2.13 “Open Bet” is an order sent from the CopyBet system to the Betfair Exchange service with parameters of a new bet on behalf of a CopyBet’s Client (Follower).
2.14 The bet is “Matched” when it’s equated fully or partially with an opposing position. A Matched bet will have a particular outcome as soon as the Market is closed. A Matched bet can not be canceled by a Client.
2.15 The bet is “Closed” when a Market is closed with a particular outcome, all matched bets of this Market are closed as well. A Closed bet can be profitable or unprofitable.
2.16 “Bet Profit” is an amount of money transferred to a Client’s Betfair Exchange Account in case a bet wins (a chosen outcome of an Event matches the real outcome) or an amount of money transferred from a Client’s Betfair Exchange Account in case a bet loses.
For the total Bet Profit, CopyBet is taking into account the Betfair commission for a Market (a corresponding part of the bet).
2.17 “Market Profit” is the total profit for all bets of this Market. The Market profit is charged with the commission from Betfair.
2.18 “Event profit” is the total profit for all Markets of this Event.
3. RISK DISCLOSURE
3.1 A Follower agrees with the fact that using CopyBet services is associated with risks. A Follower fully accepts the risk of possible losses, that can occur as a result of the activity of a Tipster.
3.3 A Follower accepts the risk of possible losses or lost profit resulting from non-execution or partial execution of copied bets due to low liquidity on the market, insufficient funds of Follower's CopyBet Profile, or other factors.
3.4 A Tipster accepts the fact that using CopyBet services is associated with risks. A Tipster performs operations solely on their own behalf, at their own expense and risk.
3.5 A Follower, a Tipster, and an Affiliate accept the risk of possible losses or lost profit due to the rounding of exchange rates during the balance operations within their Wallets.
3.6 The Company bears no responsibility for defining whether the use of the website is in compliance with the existing legislation in the Client’s jurisdiction. A Client has to make sure that they follow the laws of their country of residence, are fully responsible for opening accounts, and guarantee that gambling is not prohibited in their country of residence.
The Company reserves the right to limit access to all or several sections of its website depending on some particular jurisdictions or territories.
3.7 If necessary, a Client shall pay their taxes and file a tax return on their own in their jurisdiction of residence.
COPYBET PLATFORM OPERATION
4. BASIC COPY-BETTING PRINCIPLES WITHIN THE PLATFORM
4.1 The CopyBet platform detects new open bets on a Tipster's account and copies them by opening bets on Followers' accounts
4.2 Priority of copying: in the case when a Tipster has several Followers, bets are copied on the "first come, first served" basis.
4.3 When being copied, Follower's bet parameters (price, size, and others) are defined by the CopyBet platform based on many factors, such as:
- Subscriptions settings (subscription coefficient, Limit Loss, etc.).
- Currencies of Tipster's and Follower's accounts (in proportion to rates).
- A Tipster's Cash Out.
5. COPY-BETTING ALGORITHM
5.1 After subscribing to one or several Tipsters, a Follower specifies individual settings for each of them, according to which the bets should be copied.
5.2 There are two types of Subscriptions: "Per period" (1, 2, or 4 weeks) or "Per event".
5.3 Subscription parameters available for a Tipster:
- Subscription type
- Subscription price
5.4 Subscription parameters available for a Follower:
- Copy Ratio (default value is 1)
- Limit Loss (disabled by default)
- Automatic subscription renewal (enabled by default)
6. COPYING FROM BETFAIR EXCHANGE
6.1 Copying of a Tipster’s bet to Followers’ accounts: when the system receives the signal that a Tipster opened a bet, it defines its parameters and sends orders to open corresponding bets on Followers’ accounts.
6.2 The parameters of the copied bets::
- The Event and the Market of a Follower's bet = the Event and the Market of a Tipster's bet
- The type of a Follower's bet = Limit
- The side of a Follower's bet = the side of a Tipster's bet
- The price of a Follower's bet = the price of a Tipster's bet with the maximum allowance of minus 10% of this price (the price of a Tipster's bet - 1).
- The size of a Follower's bet is proportional to the size of a Tipster's bet considering the Copy Ratio and currencies of the Tipster's and Follower's CopyBet Profiles. The currency exchange is made according to the CopyBet platform's rates
6.3 In case of a Tipster's Cash Out, the parameters of the copied bets are calculated in such a way that the outcomes of a Follower's Market and a Tipster's Market are as identical as possible. In some cases, a Follower's bet size may be reduced or a bet may even not be copied.
6.4 After defining the parameters of a Follower's bet, the system checks if there is enough liquidity on the market, i.e if there are enough bets of the opposite side and with the same prices.
- In case there is enough liquidity, a bet is placed and, highly likely, executed immediately.
- In case there isn't enough liquidity, a bet will be executed partially or skipped (a Follower can see a corresponding notification in their Profile).
6.5 In case the first bet of a Market is skipped, the entire Market will be skipped (a Follower can see a corresponding notification in their Profile).
7. LIMIT LOSS
7.1 In subscription settings, a Follower can specify "Limit Loss" for each subscription in terms of their CopyBet Profile currency.
7.2 "Limit Loss" is calculated in the following way:
7.2.1 The system calculates "Exposure" for all copied bets of each market.
7.2.2 The system defines maximum possible losses for this Market in total (or the minimum possible profit if the Market is sure to be closed with profit).
7.2.3 In case there are open Follower#39;s bets, which haven#39;t been matched yet or have been matched partially, the system defines the worst possible matching scenario for them: the worst price and size (from zero to the full size). As a result, in case of any outcome for this bet, the profit of this Market will not be less than it was calculated.
7.2.4 The following parameters are required for calculations:
- Limit – Limit loss specified by a Follower
- Profit_current – the amount of the profit for all bets copied from this Tipster
- Profit_max – the profit reference point. By default, this value is equal to the maximum profit for the subscription, but may be reset by a Follower and be equal to the current profit. After this parameter is reset, the system will continue updating it to the maximum current profit value for a subscription.
- Exposure – the total value of the minimum Exposure values for each of the Markets copied from this Tipster.
7.3 Limit Loss will be activated if (Profit_max – Limit) > (Profit_current + Exposure).
In this case, the next bet that may activate Limit Loss will not be copied.
7.4 The following values are displayed in the web-interface of the platform:
7.4.1 Limit Loss. The value can be edited. In case the value is set to zero, the system will ignore it.
7.4.2 Profit Deviation = Profit_max – Profit_current; shows the difference between the current profit and the maximum one. The difference can't exceed the specified Limit Loss.
7.4.3 Reset (Profit Deviation). An option to reset the profit reference point (setting Profit Deviation to zero).
8. POSSIBLE ERRORS OF THE COPYING PROCESS
8.1 In case a bet can not be copied, a Follower can find the information explaining the reason behind the error in their Profile.
8.2 Examples of errors while copy-betting at Betfair:
- "There is not enough money on your Betfair Exchange account"
- "The bet is prohibited by bookmaker rules"
- "The Market is suspended"
9.1 “Welcome bonus” in the amount of 10 units in the Wallet currency is automatically granted to any CopyBet Client after they register an account.
9.2 “Invite-a-friend” bonus is granted to a Client for a friend they invite.
9.2.1 A Client receives the “Invite-a-friend“ bonus if a new Client attracted by them used their affiliate link to register in the system and verified their Profile.
9.2.2 The “Invite-a-friend“ bonus for an attracted client will be paid as soon as they successfully verify their profile.
9.2.3 A Client is paid 100 units in the Wallet currency for each of the first three friends they invite. For each next friend, they receive 10 units in the Wallet currency.
9.2.4 The “Invite-a-friend“ bonus is paid to the CopyBet participants, who are specified as an "Affiliate" in the Profiles of the Clients they attracted. In case an "Affiliate" is not specified in the Profile of an attracted Client, the “Invite-a-friend” bonus is not paid.
9.3 The bonus funds transferred to CopyBet Profiles allow users to pay for Subscriptions to the platform's Tipsters.
9.4 In case there are Client's own funds in their CopyBet profile, these funds are spent in the first place, while the bonus funds are used only after that.
COPYBET PLATFORM ACCOUNT TYPES
10. Betfair Exchange account
10.1 A Betfair Exchange account is connected by a Client to their Profile after registration.
10.1.1 By connecting a Betfair account, you agree to provide Betfair Exchange with accurate information for registration, including your real birth date and country of residence, as well as to inform Betfair Exchange about any changes in this information.
10.2 A Betfair Exchange account can be used as a Tipster and for copying bets.
10.3 Bets from a Betfair Exchange account can be copied to other Betfair Exchange accounts.
10.4 A Betfair Exchange account connected to a Profile must belong to a CopyBet Profile owner. In case the data doesn't match, the Company reserves the right to block a Betfair Exchange account and/or a Client's Profile and cancel all commissions received for subscriptions.
10.5 You shall, following Betfair Exchange’s request (made at any time before or after you register an account at Betfair Exchange), quickly provide any documents or information requested by Betfair Exchange for evidence of your identity, age, residential address, country of origin, right of use of a particular credit/debit card, and agree to Betfair Exchange’s right to check any information or document.
11. BLOCKING AND SUSPENSION OF ACCOUNTS
11.1 A Client has the right to have only one Profile.
11.2 The Company reserves the right to block an open account and cancel all placed bets, including profit, if:
- A Client has opened more than one Profile using the same or similar name/nickname, address, phone number, email, IP address, computer or other gadgets, etc.
- A Client acts as a member of a group of persons that uses the same or similar name/nickname, address, phone number, email, IP address, computer, or other gadgets, which operate by the same or a similar scheme.
11.3 It is not recommended for different Clients to use the same IP address (the same local network, shared computer, or mobile gadget) for placing bets in order to avoid any suspicions of conspiracy (unfair betting). In such cases, a Client shall provide a basis for such usage and obtain the Company’s approval for arrangements for using its services. The Company has the right to suspend accounts of such Clients and ask them to provide documents and other information (including photos) that may confirm their identity.
11.4 A CopyBet profile is non-transferable. Clients can’t sell, transfer, or acquire profiles from or for other clients. Funds transfers between CopyBet profiles are not allowed.
12. ACCOUNT VERIFICATION
12.1 In order to use the platform and deposit funds to the accounts, a Client shall complete a full verification of their CopyBet profile, which includes:
- Identity verification (A Client should upload relevant documents to their Profile)
- Address verification (A Client should upload relevant documents to their Profile)
12.2 A user submitting a registration application guarantees that any information in it is true and corresponds to the legislation. Otherwise, CopyBet has the right to deny them in creating a profile or block an already existing profile if facts of information falsification are revealed after the registration procedure.
12.3 The Company reserves the right to ask a Client for additional documents for identification at any moment.
12.4 If a Client refuses to provide additional documents or provides other people’s and/or falsified (edited by means of different applications and graphics editing software) documents, the Company has the right to cancel all bets placed by this Client, block their Profile, and refund their deposited money.
DEPOSIT AND WITHDRAWAL OF FUNDS
13. FUNDS DEPOSIT
13.1 Prior to depositing funds, a Client shall verify their Profile.
13.2 A Client agrees with the fact that the payment details they use must belong to them. The Company prohibits using payment details of any third parties. In case of non-compliance, the Company has the right to cancel all bets, refund the deposited money, as well as close all accounts of the Client. The company has the right to charge a Client with the commission for funds transfer.
13.3 If funds are deposited in a currency that is different from the base currency of a Client's account, they will be converted using the Company's internal rates.
13.4 The Company is not responsible to CopyBet Clients for lost profit or losses directly or indirectly incurred due to any delays in the funds depositing procedure. A Client is fully liable for any financial losses associated with untimely funds transferred by the Company to their account.
13.5 The Company bears no responsibility for any additional commissions and limitations of the Client’s financial intermediaries. A Client can find information about additional conditions and fees in corresponding financial institutions.
13.6 The Company reserves the right to cancel a Client's deposit and make a refund using the same payment details used in the deposit in case there are suspicions of unfair betting.
13.7 The Company reserves the right to check the provenance of funds on a Client's account.
14. FUNDS WITHDRAWAL
14.1 Funds can be withdrawn to the payment systems that were used for depositing. If the payment details of deposits and withdrawals are different, the Company has the right to deny a withdrawal request.
14.2 The Company shall process a withdrawal request within two business days.
14.3 In case there are suspicions of unfair betting (multiple accounts, software for using arbitrary situations, capitalizing on arbitrary situations, using accounts for operations not provided by a bookmaker, improper use of Loyalty programs, etc.), the Company has the right to suspend all operations and/or funds withdrawal for the entire period of investigation of a Client's activity.
14.4 The Company has the right to charge a Client with additional commissions if they use different payment systems for deposits and withdrawals of funds. The commission amount is calculated based on the Company's costs incurred by the Company while processing the Client's request for funds transfer.
14.5 The Company reserves the right to deny a Client in funds withdrawal if their withdrawal applications contain payment details of third parties.
14.6 If an account is used improperly and/or there are "empty" transactions on it, the Company reserves the right to deduct from a Client's account the total of expenses incurred by the Company while processing their request for funds transfer.
15.1 The rating is the main tool of the CopyBet platform.
15.2 The Rating includes several statistical parameters, which are calculated based on the history of every CopyBet Profile, including the rank in the Rating calculated based on a CopyBet Profile profit over a period in percentage.
15.3 Before making it to the major Rating, all accounts of new Clients are added to the Sandbox.
15.3.1 The period of time accounts stay in the Sandbox is at least 7 days, during which the minimum number of 5 Markets must be closed. The Rating moderators have the right to extend this period for as long as necessary to control the account activity.
15.3.2 Accounts are moved from the Sandbox to the Rating and vice versa automatically. When it happens, the system sends a Client a notification email.
15.3.3 The Company reserves the right to bar the Client from being added to the Rating without giving any reasons.
15.4 In order to reveal and timely prevent any types of unfair betting, the Rating is moderated on a regular basis.
15.4.1 Among other things, unfair betting includes multiple accounts, software for using arbitrary situations, capitalizing on arbitrary situations, using accounts for operations not provided by a bookmaker, improper use of Loyalty programs, etc.
15.4.2 If the Rating moderator reveals unfair betting, a Client’s account will be moved to the Sandbox.
15.5 A Client, who believes they were undeservedly removed from the Rating, has the right to send the Company a complaint to email@example.com.
SETTLEMENT PROCEDURE AND COMMISSION (PAYMENT FOR A SUBSRCIPTION)
16. The commission
16.1 Commission is paid only to a Tipster of a bet (not an original Tipster), an Affiliate, and the CopyBet platform.
16.2 Ratio of commission amounts: 70% to a Tipster, 30% to CopyBet.
16.3 30% of the CopyBet commission share is paid to an Affiliate if there is any.
16.4 Commission is paid according to two different schemes depending on the subscription type specified by a Tipster.
16.5 Commission is fixed; it is specified by a Tipster on the "My Followers" page of the web-platform.
16.6 Commission for "Per period" and "Per event" subscription types is reserved and deducted from the Follower's Wallet.
17. COMMISSION OF THE “PER PERIOD” SUBSCRIPTION SCHEME
17.1 Commission is calculated for the periods of 1, 2, or 4 weeks.
17.2 Commission to be paid to a Tipster is reserved in a Follower's Wallet and transferred to a Tipster at the end of a period (excluding periods, when not a single bet was copied, in this case, the commission is not paid).
17.3 Commission for the periods that haven't started yet or for the current period without a single bet copied is released from hold in a Follower's Wallet.
17.4 A subscription starts when the service receives the command to start a subscription and lasts for 1 whole period.
18. COMMISSION OF THE TO "PER EVENT" SUBSCRIPTION SCHEME
18.1 Commission is paid for a specific Event copied by a Follower from a Tipster.
18.2 Commission is transferred to a Tipster after an Event is over. Commission to an Affiliate is calculated and transferred after a Tipster receives their commission for an Event.
19. SUBSCRIPTION PAYMENTS TO A Tipster/AN AFFILIATE
19.1 Commission is paid to a Tipster and an Affiliate after the subscription period or an event is over.
19.2 In case a Follower has any claims to the calculations and payments, they have the right to submit an official request to the Company, which will be processed by the Payment department within 72 hours from the moment the funds were transferred.
19.3 Nuances of calculations according to "Per period" subscription scheme:
19.3.1 When the subscription period is over, the subscription is renewed automatically. This option is enabled by default but a Client always can change settings in the “My Tipsters” section of the web-platform. If the subscription can't be renewed due to some reasons (for instance, insufficient funds in a Follower's Wallet), the subscription is paused.
19.3.2 Resuming the subscription doesn't change the calculation period (it still starts with the subscription starting time).
- If a subscription with an automatic renewal was paused due to lack of funds a Client has to unsubscribe and then subscribe to a Tipster again (a period starts all over again).
- If a Tipster changes subscription conditions, a subscription will not be renewed automatically, so a Follower has to enable this option manually.
- If not a single bet was copied during the subscription period, all subscription payments are returned to a Follower.
20. CHANGING OF SUBSCRIPTION CONDITIONS BY A TIPSTER
20.1 In case a Tipster changes subscription conditions for the worse (increases the price), Followers are notified by email and an option of automatic renewal of a subscription is disabled.
21. CopyBet Affiliate Program
21.1 Each user automatically becomes an Affiliate. They receive a unique affiliate code, which is added to all marketing materials offered by CopyBet.
21.2 An Affiliate starts earning affiliate commission if a new Tipster attracted by them used their affiliate link to visit the website, registered a Profile in the system, and received payments for subscription to their bets.
21.3 Affiliate commission is paid to the CopyBet participants, who are specified as an "Affiliate" in their Profile for the Clients they attracted. In case an "Affiliate" is not specified in the Profile of an attracted Client, the Affiliate commission is not paid.
21.4 An Affiliate receives 9% оf the referred Tipster’s subscription fee
21.5 Commission is charged and paid in US Dollars. If Affiliate’s Wallet currency differs from US Dollars, the exchange is made according to the CopyBet platform's rates
RESPONSIBILITIES OF PARTIES
22. RESPONSIBILITIES OF A FOLLOWER
22.2 A Follower accepts the fact that profitability over the past periods does not guarantee the same results in the future.
22.3 A Follower agrees that a Tipster can use any system or strategy while placing their bets.
22.4 A Follower assumes responsibilities for having enough funds on their Profile for executing bets, regardless of whether they are copied, opened manually or automatically.
23. Responsibilities of a TIPSTER
23.3 A Tipster accepts the fact that a Follower can open, close, and modify bets on their CopyBet Profile, whether they were copied from a Tipster's Betfair Exchange account or placed by a Follower on their own behalf.
23.4 A Tipster aсknowledges the fact that in case CopyBet suspects them of any unfair betting, the Company reserves the right to exclude them from the Rating until the clarification of all attending circumstances and place restrictions on a Tipster's deposit/withdrawal operations on a unilateral basis, as well as block their Profile and provide them with the opportunity to withdraw their deposited funds.
Unfair betting may imply multiple accounts, software for using arbitrary situations, capitalizing on arbitrary situations, using accounts for operations not provided by a bookmaker, improper use of Loyalty programs, etc.
24. RESPONSIBILITIES OF THE COMPANY
24.2 The Company bears no liability to participants of CopyBet for lost profit or losses, which may directly or indirectly occur or not occur as a result of operations performed on Followers' or Tipsters' CopyBet Profiles.
24.3 The Company bears no liability to participants of CopyBet for lost profit or losses, which may directly or indirectly occur as a result of their ignorance of regulatory documents and/or cooperation schemes.
24.4 The Company doesn't evaluate Tipsters' professional skills and suitability at any stage of their activity and bears no responsibility to Followers for any losses or lost profit they may incur.
24.5 The Company is not liable for:
24.5.1 Risks of intentional or unintentional non-observance of Followers' interests by a Tipster. In this case, all possible risks fall on Followers.
24.5.2 Fraud with Followers' funds on behalf of a Tipster. In this case, all possible risks fall on Followers.
24.5.3 A Tipster losing access to their CopyBet Profile, as well as the third parties gaining access to a Betfair Exchange account. In this case, all possible risks fall on a Tipster.
24.5.4 A Follower losing access to their CopyBet Profile, as well as the third parties gaining access to a Betfair Exchange account. In this case, all possible risks fall on a Follower.
24.5.5 Unforeseen delays when withdrawing funds from or depositing to the Wallet.
24.5.6 Technical malfunction, if it occurs through no fault of the Company, but of the Company's partner or other parties, who are not the Company's employees.
24.5.7 Tipsters' or Followers' losses, if they occur during the maintenance operations on the Company's servers.
24.6 The company reserves the right to deny a client in registering a Profile, passing verification, and providing them with services with no reason given.
24.7 The company does not have the right to provide investment recommendations or any other information that may motivate a Client to place bets or subscribe to some particular Tipster.
25. Dispute resolution
25.1 In case a participant of CopyBet has any complaints or suggestions or is not satisfied with any of its aspects, they have the right to send them to the Company via email address: - firstname.lastname@example.org.
26.3 CopyBet is the Company's self-design project. The terms and the ways of calculations may differ from the terms of other similar services in the field.
26.4 The Company reserves the right to introduce insignificant changes to these Terms and Conditions at any time. In the case of any material amendments to these Terms and Conditions, the Company will provide a Client with a prior notice of such amendments, including the date they come into effect. A notice can be sent via a pop-up message on the Company’s website and/or mobile application when a Client logs into their Profile and/or gets an email. Upon being informed of the changes, if a Client wants to continue using the Company’s services, they will be asked to ‘Agree’ to the changes. A Client’s continued use of the services after receiving a notice will be deemed to be their acceptance of the changes. In case a Client disagrees to the material changes, they will not be allowed to use the Company’s services but shall always have the opportunity to withdraw their funds from their Profile.
KYC AND AML POLICIES
27. KYC and AML policies
27.1 The KYC (Know Your Client) procedure is carried out on the side of the CopyBet platform. A Client won't be able to use the platform and deposit funds to their Wallet until they verify their identity and residence address.
27.2 The AML (Anti Money Laundering) policy is an internal document of the Company, which describes procedures of checking a Client when they perform balance operations on their CopyBet Profiles. The document may be provided to all concerned partners of the Company upon request.
PROTECTION OF FUNDS
28. PROTECTION OF FUNDS
28.1 Clients’ funds are kept in segregated accounts, separate from the Company’s funds, to guarantee that they are safe.
28.2 In case of any financial woes at the Company, Clients’ funds will not be used to the benefit of the Company. Funds withdrawal will be available as usual.
28.3 According to the UK Gambling Commission regulation, the level of protection of Clients’ funds specified in article 31.1 is considered as high.
COMMUNICATION WITH THE COPYBET CLIENT SUPPORT AND OTHER EMPLOYEES OF THE COMPANY
29. COMMUNICATION WITH THE COPYBET CLIENT SUPPORT AND OTHER EMPLOYEES OF THE COMPANY
29.1 Client’s communication with the Company staff shouldn’t contain any foul or offensive language, insulting words, or threats. A Client should show respect to all CopyBet employees when communicating with them.
In case this article is violated, the Company has the right to:
- Deny a Client in assistance and temporarily or constantly block their right to contact the Company’s Client Support.
- Stop this Client’s account servicing and refund their money.
30.1 The Company reserves the right to keep the following information confidential:
30.1.1 Information about technologies, algorithms, or any other internal operating procedures of the Company, including information about its Clients and employees.
30.1.4 Exceptions are the cases when the information is demanded by an authoritative regulatory body upon official request.
31. LEGAL RESTRICTIONS
31.1 According to the current legislation, you can’t create a profile and use the CopyBet platform unless you are 18 years of age or older. Minors are not allowed to register as gamblers and open Profiles at CopyBet. Please note that in case this rule is violated, your profile will be blocked until the clarification of all necessary information.
31.1.1 CopyBet recommends to prevent minors from getting access to the platform, which is related to gaming/gambling websites.
31.1.2 Thanks to filtering software, parents have an opportunity to customize Internet access parameters for their children. Software settings allow to block some particular Internet resources, including gaming/gambling websites. Filtering software identifies gaming/gambling websites according to the specified criteria and prevents them from being displayed and visited. If you share your computer with your friends or family members and some of them are under 18 years of age, please check out the following filtering software:
Net Nanny — www.netnanny.com
CyberPatrol — www.cyberpatrol.com
CYBERsitter — www.cybersitter.com
31.2 A profile owner shouldn’t allow any third parties to use it for their own benefit or provide any outsiders with access to the Company’s services as well as any materials or information from its website.
31.3 In case CopyBet acquires information that a client’s participating in gambling resulted in their financial or personal issues, the Company reserves the right to close this client’s profile at CopyBet and deny them in providing services later on.
31.3.1 Please be informed that participating in gambling may result in addiction. After a CopyBet Profile is closed due to its owner’s gambling addiction or fraud detection, this client won’t be allowed to register new profiles at CopyBet. In case this restriction is ignored, CopyBet reserves the right to block all newly-registered profiles of a violator and assumes no responsibility for any direct or indirect losses arising from the above-mentioned violation.
32. PROFILE DELETION
32.1 A Client has the right to disconnect their Betfair account from their CopyBet profile at any moment.
To disconnect their Betfair account, a Client has to:
- Go to the “My accounts” section
- Choose a Betfair account and click “Disconnect”
32.2 A Client has the right to delete their CopyBet profile at any moment.
To delete their CopyBet profile, a Client has to:
- Go to the “My Profile” page
- Turn off the “Profile is active” option
32.2.1 After your profile is deleted, you will not be able to log in to CopyBet as a participant. If you consider this option as some kind of a break and would like to restore it, contact our Customer Support Service by emailing to email@example.com.
32.2.2 Some of your data shall be kept in accordance with AML legislation, which prevails over Data Protection law
This website is owned by CopyBet UK Ltd. CopyBet UK is regulated and licensed by the UK Gambling Commission, operating license No. 000-053774-N-330744-002. The company's registered address is 3rd Floor, 120 Baker Street, London W1U 6TU. The company's business address is Office 116, N.1 Royal Exchange, London, EC3V 3DG.