Terms of use

1. Terminology

Terms contained in the texts of these Terms of Use have the following meanings.

1.1 Company – CopyBet Ltd, regulated and possesses a sublicense No. GLH-OCCHKTW0712232016 under Curacao Master License No. 365/JAZ.

1.2 Client – a person who has an account opened with his/her name.

1.3 CopyBet – a platform for copying bets which is provided by the Company.

1.4 CopyBet account – a profile registered especially for using CopyBet.

1.5 Provider – a Client who provides bets.

1.6 Subscriber – a Client who subscribes to a Provider and receives bets from it.

1.7 Partner – a Client who refers Subscribers to the Company and receives rewards for this.

1.8 Commission – a fee received by the Company, by Provider, by Partner from bets copied by a Subscriber.

1.9 Wallet – an internal payment service used for making deposits and withdrawals to/from an account, and for settlements with the Company.

The platform gives only one Wallet per client in the system. The Wallet offers only one accounting currency – USD ($). Any operation inside the Wallet takes place in the form of write-off and credit of funds to the balance. The Wallet offers a functionality of funds reservation (HOLD) at the moment of copying a signal to pay a commission for the signal. A Client can transfer funds from an external source to his/her Wallet.

2. Risk Warning

2.1 Subscriber acknowledges that using CopyBet poses risks. Subscriber fully accepts risk of losing funds connected to operations carried out by the Provider.

2.2 The Subscriber acknowledges the fact that failing to know or understand these Terms of using the platform doesn’t indemnify for liability and/or risks.

2.3 The Subscriber accepts the risk of the fact that prices at which bets on his account are executed can differ from those of the Provider. The Company doesn’t pay the Subscriber any possible difference in losses/profits and any difference in the commission on such bets.

2.4 The Subscriber assumes the risk of losses in case copied bets are not executed at bookmaker’s account.

2.5 The Subscriber assumes the risk that the Provider’s bets can be left uncopied due to the difference between sums of funds on Provider’s and Subscriber’s accounts.

2.6 The Subscriber assumes the risks of possible losses and lost profits occurred due to his/her missetting of copying signals.

2.7 The Subscriber assumes the risk of possible losses due to overlimit of losses stated in subscription for the Provider.

2.8 The Provider acknowledges the fact that using CopyBet is a risky activity. The Provider operates in his own account only, at his own expense and at his own risk.

2.9 The Subscriber, Provider and Partner assume risk of possible losses or lost profits occurred as a result of round-off and currency conversion in their Wallets.

3. Terms of Copying

Basic principles of copying bets inside the platform:
  • Detection of new bets on the Provider’s account and copying them by opening bets on Subscribers’ accounts;
Equalization of bets according to off-exchange rates:
  • BACK-bets are copied on the best liquidity at the bookmaker;
  • LAY-bet is placed as a LIMIT-bet at a price 10% greater than the bet coefficient of the Provider. This bet is executed at the best coefficient (not exceeding the preset coefficient).

If the Provider makes the Cashout operation, bets which are lower than stated by the bookmaker are possible.

  • Copying takes place when the bet is placed in the market. Copying can be stopped or executed partially in case the account doesn’t have sufficient funds on it;
  • Immediately after the bet is closed (completion of the event) the platform deducts the rest of the commission for copying;
  • Thus, the system of settlement commission consists of no more than 3 values: commission of the Provider, commission of service and commission of Partner if it is present in the deal.

The Partner receives commissions for any commission of the service, including minimum commission for copying.

Terms of Commission Write-Off and Crediting

Commission for copying is charged only for winning bets. Based on this basic rule, the size of a commission is calculated as 1% of the prize money (minus bookmaker's commission in case it is present).

  • The minimum commission size for copying is $0.1;
  • The minimum profit of a bet which is charged a commission is $0.2.
The commission is distributed the following way:
  • The Provider being a source of the bet receives 30% of the commission per each winning deal from the 1st level Subscriber;
  • The Provider being a source of the bet receives 10% of the commission per each winning deal from the 2nd level Subscriber and each of the next levels
  • Sources of signals (bets) from 2nd level receive 20% of commission per winning bet if the bet wins.

As a result, the commission for winning bet is distributed as 30%-30%-40% scheme for the Provider, Partner and Company correspondingly.

In case there is no Partner in the deal, the system receives 70% of commission per winning bet.

Commission Write-Off

When a bet is copied by a Subscriber, the commission amount is reserved in his/her Wallet. If the funds in the Wallet are not sufficient, copying stops. The reserved amount consists of two parts and includes the minimum commission of the service and expectable commission for winning bet.

In case the bet is losing, the Subscriber receives the reserved amount back. In case the bet is winning, the commission is deducted from the Subscriber’s Wallet and distributed according to the above rules.

4. Liability of the Parties

4.1 Liability of the Subscriber.

4.1.1 If a user registers in CopyBet as a Subscriber, such user acknowledges he/she unconditionally accept these Terms of Use CopyBet.

4.1.2 The Subscriber accepts the fact the past performance does not guarantee success in the future and does say anything about future earnings.

4.1.3 The Subscriber acknowledges that the Provider can use any betting system or strategy of composing bets.

4.1.4 The Subscriber assumes responsibility to have sufficient funds on his/her account for execution of orders whether they were copied, opened manually or automatically.

4.2 Liability of the Provider.

4.2.1 If a user registers in CopyBet as a Provider, such user acknowledges he/she unconditionally accept these Terms of Use CopyBet.

4.2.2 The Provider assumes the fact that ignorance or misunderstanding of these Terms of Use is no excuse of risks and/or liability for financial results of his/her performance.

4.2.3 The Provider assumes the fact that the Subscriber can use his/her account for opening, closing and/or modifying bets – both copied from a Provider's account and his/her own – at his/her own discretion.

4.3 Liability of the Company.

4.3.1 The Company is obliged to provide the CopyBet users with complete set of services in accordance with these Terms of Use. The Company is responsible for proper functioning of the technical equipment according to these Terms of Use.

4.3.2 The Company is not responsible before CopyBet users for lost profits or losses which were directly or indirectly made by performing or non-performing acts on Subscribers’ or Providers’ accounts.

4.3.3 The Company is not responsible to for CopyBet users for lost profits or losses which were directly or indirectly made by ignorance of regulatory documents and/or terms of cooperation.

4.3.4 The Company does not assess Providers as to their qualification at no stage of their activity and is not responsible before Subscribers for any lost profits or losses.

4.3.5 The Company is not liable for:

a) Risk of premeditated or unmeditated nonobservance of Subscribers’ interests on the part of the Provider. In this case the Subscribers assume all the risks.

b) Risk of Providers’ fraud with Subscribers’ funds. In this case all the risks are born by the Subscriber.

c) Risk of loosing access for the Provider to his/her CopyBet account and a risk of unauthorized access to those accounts by third parties. In this case all the risks are born by the Provider.

d) Risk of loosing access for the Subscriber to his/her CopyBet account and a risk of unauthorized access to those accounts by third parties. In this case all the risks are born by the Subscriber.

e) Risk of unpredictable delays while withdrawing funds from the Wallet and depositing funds on it.

f) Risk of malfunction can not be born by the Company if it is triggered by Company’s counterparties or other persons who are not the Company’s staff.

g) Risk of losses born by the Provider or Subscribers during maintenance works on the Company’s servers.

5. Settlement of Disputable Situations

5.1 If a CopyBet user is not satisfied with any of aspects of his/her work, he/she has the right to submit a claim to info@copybet.com.

5.2 When submitting a claim, the Client should provide a clause of these Terms that has been violated according to the Client’s opinion.

5.3 The claim will be processed and a decision on it will be made according to these Terms in the course of 7 days.

6. Usage Procedure of these Terms of Use CopyBet

6.1 These Terms come into effect when the Client accepts thеm and registers a CopyBet-account.

6.2 In case there are contradictions between these Terms of Use and any other regulatory document of the Company, these Terms of Use should prevail bearing in mind their control domain and the fact that the Terms a special according to any other regulatory documents.

6.3 CopyBet is a proprietary system of the Company. Calculation methods and terms can differ from the ones used in other similar services.

6.4 These Terms of Use can be modified and/or complemented by the Company at its sole discretion without prior notice. The current version of the Terms can be found on the Internet at: https://www.copybet.com/terms-of-use/. The Company recommends its Clients to review these Terms regularly and to check any amendments and/or changes. If the Client continues using CopyBet after the changes and/or amendments have been added to these Terms, this means that the Client accepts and agrees with those amendments and/or changes.