Deposits and Withdrawals
- The Customer has the possibility to increase the balance of his account with one of the payment methods made available by BetKing. The Customer can similarly withdraw the residual balance using a payment method provided by BetKing.
- 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 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.
- In order to perform any transaction BetKing may undertake any such verification checks as may be required by ourselves or by third parties (including, but not limited to, regulatory bodies) to confirm the legal ownership and the origin of the money implicated, the identity of the applicant and to comply with the relevant Anti Money Laundering Provisions.
- 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:
- In case of card transactions, a copy of both sides of each of the cards used duly signed by the owner;
- A copy of an official document showing your billing address if it differs from the one registered in the ID;
- Any other document that may be relevant in order to complete the check.
- Full compliance with our requests will speed up the verification process.
In compliance to EFCC KYC (Know Your Customer) Policy, SV Gaming (BetKing) will require a valid means of identification to enable us to process any withdrawal request for winnings above N250,000. 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.
- 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.
- 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.
- 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.
- BetKing reserves the right to limit or to refuse bets.
- Funds deposited in the Account, as well as winnings or other amounts not yet credited, shall not attract any interest.
- 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.
- In order to discourage Money Laundering, withdrawal requests for funds that were deposited without game play history will not be processed.
Saved Bank Accounts
- In line with the money laundering (prohibition) Act, 2011 (As Amended) BetKing is to take relevant measures to verify the identity of the beneficiary owner such that BetKing is satisfied and knows who the account beneficiary owner is, All online and agent account types will be required to save a minimum of one (1) bank account before their withdrawal requests can be processed.
- All Saved Bank Account Names must match the names on the BetKing Account, which will be verified by BetKing before any withdrawal is permitted.
- Withdrawals will only be remitted to the bank account saved by the Customer and verified on their BetKing Account.
- Any change or updates to saved Bank Account details will be verified by BetKing. BetKing may request supporting documents and a valid means of Identification from the customer.
Last Updated: 2021-04-26 15:20:23