- Winnings from settled bets are added to the balance of your account. Any winnings credited to an account in error are not available for use and BetKing reserves the right to retrieve the winnings from your account by reversal or withdrawal, either at the time or retrospectively.
- A 15% withholding tax is applicable to all winnings above 1000 Brr as required by regulation.
- The maximum winnings for any one customer in any one day is One Million Birr (1,000,000 ETB) both online and in shops.
- 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. BetKing reserves the right to publish the information of any winner that wins above One Hundred Thousand Birr (100,000 ETB) on Sports and/ or Twenty Thousand Birr (20,000 ETB) on Virtual for marketing purposes. 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 BetKing reserves the right to void any transactions involving such funds.
EX AEQUO RULE:
- An "ex aequo” occurs when two or more participants in an event come in a tie for first and second place.
- 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.
- 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.
RETIREMENTS AND REDUCTIONS
- 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.
- The reductions may 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.
- The reduction factor established will be applied at BetKing’s discretion.
- 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.