Terms and Conditions

CLIENT AGREEMENT REGARDING USE OF SIA LVBET

Version - 1.0 - 17/11/20

  1. FOREWORD
    1. SIA LVbet, a company incorporated in the Republic of Latvia under registration number 50203083121, legal address: Skanstes iela 50, Rīga, LV-1013, Latvia, phone number: (+371) 66163795, hereinafter referred to as “LV BET”, “Us” “We” or “the Company”. SIA LVBet has received the license of the Republic of Latvia (license number TI-14 issued on 14.09.2020) Lottery and Gambling Supervisory Inspection for organizing games and betting, as well as for organizing interactive games and betting in Latvia.
    2. These Terms and Conditions constitute and govern the contractual relationship between the Parties - LV BET and User.
  2. DEFINITION OF TERMS

    The following words and terms should be interpreted as follows unless the context clearly implies otherwise:

    1. Cashout (bet refund) - opportunity to get a prize for a bet that has not been calculated yet.
    2. Control sum – a randomly selected amount of money between 1 EUR and 3 EUR that is withdrawn from the User’s credit card in order to check whether the credit card belongs to the User.
    3. Daily bet amount limit - this value shows max limit for day bet to be chosen and set by the User.
    4. Deposit - any amount of money transferred by the User to the Company; the Company transfers it to the User’s account, which will be used in sports betting and betting. Minimum and maximum deposit amounts are described in these Terms and Conditions.
    5. Event – sport events or any other predictable events offered for betting. One or more possible outcomes are offered for each event. The User can make single and/or multiple bets as well as combine odds for different sports events or other predictable events in one bet.
    6. Game – a game, in which the User makes a bet on a possible result of a sports game or other event, the result of which can be predicted. Winning the bet depends on whether the predicted result of the User corresponds to the actual, documented and proven facts.
    7. List of events – a list of odds and other related information offered by the Company that can be found in Website.
    8. Live bets – bets accepted after the start of the Event and up to the end of the Event, e.g. betting on a football match, hockey or basketball.
    9. Login – a name freely chosen by the User to be used to interact with the Company.
    10. Odds – any number, which is multiplied by the stake and in the case predicted the result is correct, the obtained sum will make the winning.
    11. One coupon bet limit - max limit on one spin (casino) or one stake (betting) to be chosen and set by the User. This value shows the max limit for one single spin/bet.
    12. Stake – the amount of money paid by the User to secure their liability after the matched bet.
    13. Stake limit - a limit set by the Company for each User for the sum of stakes for every event.
    14. System banker – any result of an event is selected as the system banker and is included in all coupons of the betting system.
    15. User - a person who visits the Website and uses provided services.
    16. User’s account / Account – an account opened by the user during registration in the Company’s Website and found on the Company’s server.
    17. Website - the web page where all the action is taking place. The address is www.lvbet.lv.
    18. Withdrawal – an amount of real money transferred by the User from the Company’s account, when winning is paid out, money is transferred to the Users’ bank account.
  3. GENERAL
    1. All Users accessing the Website agree to abide by the following Terms and Conditions governing the use of the Services. This Agreement describes the terms, conditions, and risks applicable to Services. If you have any questions regarding the Agreement, please contact Customer Support.
    2. The User must read, agree with and accept all of the Terms and Conditions without any modifications, which include these Terms and Conditions expressly set forth below and those incorporated by reference, before the User may become an active, registered User of LV BET. By continuing to access or use the Website, the User agrees to follow the Terms and Conditions of this Agreement.
    3. This Agreement shall be governed and interpreted in accordance with the laws of Latvia. Any legal action or proceeding arising under this Agreement will be brought exclusively in courts located in Latvia, and the parties hereby irrevocably consent to the personal jurisdiction and venue therein.
    4. LV BET will not be liable in any way to any persons in the event of force majeure, or for the act of any government or legal authority. In the event that any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions will remain in full force and effect.
    5. The Website is available to and may only be used by individuals who can form legally binding contracts under the law applicable to their country of domicile. It is the User’s responsibility to ensure that betting is legal.
    6. The User warrants that they understand that laws regarding online gambling vary throughout the world, and it is their obligation alone to ensure compliance with any law, regulation or directive, relevant to their country of domicile. Ability to access the Website does not necessarily mean that LV BET Services, and/or Users’ activities through it, are legal under the laws, regulations or directives relevant to Users’ country of domicile.
    7. The User understands and accepts that LV BET is unable to provide the User with any legal advice or assurances and that it is their sole responsibility to ensure that at all times they comply with the laws that govern them and that they have the complete legal right to play the Games. Any participation in the Games is at the User’s sole option, discretion and risk. By playing the Games, the User acknowledges that they do not find the Games or Services to be offensive, objectionable, unfair, or indecent in any way.
    8. If the User violates this Terms and Conditions and registers from a restricted country, LV BET reserves the right to close the Account permanently and confiscate all the winnings.
    9. The Agreement will terminate if LV BET believes that any information provided by the User, including their email address, is no longer current or accurate, or if the User fails to otherwise comply with any term or condition of this Agreement and all rules and guidelines for each Service, or LV BET establishes that the User has abused in any way LV BET’s games and services. Upon notification of such violation, the User agrees to cease accessing Services. The User agrees that LV BET, at its sole discretion and with or without notice, may terminate their access to any or all Services, close User’s open transactions, remove and discard any information or content with its Service due to a breach of a provision of this Agreement.
    10. Participation of minors in offered on this website activities is prohibited.
  4. REGISTRATION AND SECURITY
    1. In order to start an interaction with the Company, a User shall open an account when registering on the Website with the following personal data:
      1. name, surname;
      2. personal identity number;
      3. address details
      4. IBAN number
      5. an account number from which the money will be transferred for stakes;
      6. Daily betting limit and single bet limit that are set up during registration can be amended by the customer at any time by logging in to the customer’s betting account.
    2. The User has 72 hours to verify the account after Registration. During the first 72 hours after Registration and if the account passed the basic verification conducted via bank deposit, the User can exclusively make deposits and place stakes on Events. If the basic verification is not completed, the deposit will not be accepted. No withdrawal will be processed without Account verification.
    3. If the Account is not verified within 72 hours, the access to deposit and play will be blocked.
    4. All required information mentioned above will be stored in the Company’s server in accordance with the laws of the Republic of Latvia and will not be disclosed to third parties, except for the cases requested by the legislation of the Republic of Latvia.
    5. Persons under the age of 18 years are prohibited from registering on a Website, making bets or performing any other activities on or do any other activities on the Website.
    6. By registering on the Website, the User agrees to abide by the following Terms and Conditions, governing the use of the Services.
    7. When registering on the Website, the User is allowed to use only their own personal data. If the Company has the information that the User has registered with personal data of a person other than the User, the Company has the right to cancel all bets made by such a User and freeze all deposits and withdrawals to and from the Account confiscate all the winnings.
    8. The Account shall be used only by the person who registered the account. The Company has the right to cancel all bets made by such an Account and freeze all deposits and withdrawals to/from the Account, if the Company has the information that the Account is used by another person.
    9. The User undertakes all necessary steps to keep their login and password confidential, preventing other persons from access such information. Gameplay on the Website under User’s login and security details will be regarded as valid, irrespective of who participates in the game. In the event that there is a concern that the secrecy of such details is no longer the case, User should notify LV BET immediately whereupon new details may be forwarded and any future transactions under the previous details would be considered void.
    10. LV BET is in no way responsible for eventual access to an Account by a third person and will not be held responsible for any eventual loss suffered due to the illicit use of User’s password by a third person, or unauthorized access, and/or for any transaction in which the name and password of a User ware registered correctly.
    11. The User is not allowed to make bets on behalf of a third party. If the Company becomes aware of such cases, the Company has the right to cancel all the transactions pertaining to the User and to retain all the remaining funds in the Account.
    12. The User is fully responsible for the data entered during registration. In case of suspicion that the data are false, the Company reserves the right to request additional information from the User (e.g. a copy of the passport).
    13. LV BET reserves the right to refuse to register any User or to cancel any Account without giving any reason. Funds on the User’s account, if not obtained unreasonably (fraudulent actions, technical errors, etc.), shall be returned to the User by transferring them to the bank account indicated by the User within 10 (ten) days from the date of cancellation of the Account.
    14. It is forbidden for one person to register more than one User account. If the Company becomes aware that one User has multiple accounts, all relevant data will be transferred to the most active Account of the respective User. LV BET reserves the right to revoke User’s privilege if a User has placed identical bets with two or more Accounts. This will lead to confiscation of winnings and cancellation of all placed bets including already determined bets.
    15. Users that are relatives and/or live together shall not bet on the same events in order to exceed the stake limits set by the Company for that Event, otherwise, the Company reserves the right to cancel all User’s bets and freeze all deposits and withdrawals to or from their accounts.
    16. LV BET has the right to change, at its sole discretion, the Stake limit for each User without giving any reasons.
    17. If the Company suspects that the User is in breach of any article of this Terms and Conditions, or that their actions may be considered fraudulent, the Company has the right not to accept bets from the User and cancel their Account.
    18. If for any reason, the User’s account is cancelled, all unquestioned funds in the User’s account at that time will be returned to the User, and thus all activities between the User and the Company will be terminated. The funds that the Company presents claims upon, will be frozen in the User’s account until the Company has a full understanding of the origin of the funds in question.
    19. The User may request their Account to be closed or excluded from the register of interactive gambling. In such a case, the User must withdraw all funds from their Account before requesting the closure of their Account.
  5. DEPOSITS AND WITHDRAWALS
    1. The User uses one of the types of payment solutions offered by LV BET in order to transfer funds to the User's account. When the User submits their first request for withdrawal, details of their personal bank Account or any other payment method available and acceptable for such withdrawal should be provided to LV BET.
    2. The User shall transfer money only from their own bank account or credit card. If the transfer is made from another person's bank account, the Company reserves the right not to transfer the funds to the User's account and return them back to the account from which they were transferred.
    3. When transferring funds to the Account, the User shall provide their account number. Payments without a User’s number cannot be transferred to the User's account and returned back.
    4. Euro (EUR, €) is the leading currency in the Website. Other currencies are not available. Cardholder's responsibility is to know the laws concerning online gambling in his or her country of domicile.
    5. Internet gambling may be illegal in the jurisdiction in which you are located; if so, you are not authorized to use your payment card to complete this transaction.
    6. The maximum amount of one deposit is 5,000.00 EUR.
    7. The minimum amount of one deposit is 10.00 EUR.
    8. Payments from the User's account are made only to the User's bank account from which the User made the payment.
    9. In the event that LV BET incorrectly transfers any amount to the User's bank account or adds any amount to the User's account, the User is obliged to immediately inform LV BET about such an event. In such a case, the User undertakes not to use this amount for LV BET services, not to withdraw the amount from the Account and to return the incorrectly received amount of payment back to LV BET.
    10. The User may request LV BET to withdraw funds from the User's account to the User's bank account. The amount to be withdrawn may not be greater than the User's account balance.
    11. When registering on the Website, the User's account is opened in Euro. If the deposit is made in another currency, LV BET reserves the right to convert the currency at the rate set by the Bank of Latvia or to refuse the deposit of funds.
    12. In order to ensure that User’s transactions and User Identification are monitored in accordance with the requirements of the Law on the Prevention of Laundering and Terrorist Financing, the Company is required to register within 24 hours all User’s transactions of 2000 or more in one payment or in several combined operations. The User is required, upon request by the Company, to provide a copy of their personal identification document and any other additional documents related to their activities in the Account, as well as to answer questions required to investigate the User that is specified by law.
    13. The Company has the right, at any time, to request a copy of a personal identification document and any other additional documents, if suspicious activity has been observed in the User’s account in accordance with the Law on the Prevention of Money Laundering and Terrorist Financing. If necessary, the Company may carry out additional tests in order to verify the User by organizing a call interview that has to be recorded or on-site in the Skanstes iela 50, Rīga, LV-1013 Office. The need for such verification will be communicated to the User in advance and the User will have to come for an interview within 14 days from the date of dispatch of the notice. The User's account may be blocked and funds frozen during the inspection.
    14. We ensure the payout of the prize to the player, in conformity with the following conditions:
      1. a prize that does not exceed 720 euros will be paid out immediately;
      2. prize in the range from 721 euros to 14,300 euros will be paid out within 24 hours;
      3. a prize that exceeds 14,300 euros will be paid out in accordance with the procedures approved in the gambling rules not later than within 30 days and in not more than two payments.
    15. Withdrawals of winnings or parts thereof will be paid out upon request of the User. Please note that only the first withdrawal a week is free of charge. A second and every next withdrawal the same week costs a fixed fee of 5 EUR. The minimum withdrawal amount per transaction is no less than 10 EUR, with the exception of THE Account closure, in which case the User has the right to withdraw the full balance no matter how much it is. The maximum withdrawal amount per transaction is effected by any of the payment methods available on the Website. The maximum withdrawal amount per day is 5,000.00 EUR.
    16. A request for withdrawal cannot be made while the User is involved in a gaming session.
    17. Any expenses related to withdrawal requests, if applicable, shall be charged to the User.
    18. Withdrawals will be processed within 3 business days.
    19. Funds cannot be withdrawn from the Account unless the same funds have been wagered at least once. Staking bets on table games with minimal loss expectancy (opposite betting) will not be considered valid in fulfilling wagering requirements. Please be informed that five percent (5%) administrative charge, with a minimum fee of ten Euro (10 EUR) from the last deposit, may be applied for payout requests referring to amounts deposited with LV BET which have not been used at least once for playing casino games or sports bets. Before such a payout can be approved, it has to be assessed and confirmed by the Risk Department.
  6. SPORTSBOOK SERVICES
    1. Bets Placing:
      1. When a bet is placed and accepted, the corresponding amount is charged against the Account. The User must check that the bet instructions, which they have submitted are correct before confirming the bet. After the bet is announced, it is not possible to cancel or change the bet. We reserve the right not to accept or accept only a part of any bet.
      2. Where a number of bets are submitted by a User, they will be dealt with in the received order.
      3. A number of bets may be treated as being one when a User sends multiple copies of the same bet. LV BET reserves the right to void all bets where there may be evidence of collusion between two or more Users or where there is a suspicion that the Account is being used by different individuals.
      4. The acceptance and payout of bets are subject to different limits. These, in particular, include limits on the amount of the bet which is placed, betting market’s limits, maximum payout limits and personal User’s limits. These limits are generally subject to change without notice and will be stated on the betting note or listed on the Account. LV BET reserves the right to limit the stakes of bets before accepting a bet and/or to change the odds before a bet is placed.
      5. All prices and odds are subject to fluctuation. Any bet that is accepted after the official start time will be void unless otherwise stated (such as in the case of live in play bets).
    2. Valid Bets:
      1. A bet is only deemed to be valid once a transaction code has been issued. The bet can then be viewed at “my bets”.
      2. The User acknowledges that it is their responsibility to ensure that they fully understand the applicable rules and regulations and the methods, rules and procedures of Internet gambling in general.
      3. We are not responsible for a bet not being placed for any reason, including but not limited to: computer malfunctions and failure of telecommunications services or Internet connections. We will not honor bets that have been submitted to us, but not confirmed.
      4. The User shall not employ or make use of any system or artificial intelligence software including but not limited to machines, computers, software or other automated systems designed specifically to defeat our software. We will not honor any bets pursuant to which the User has employed or made use of such systems or artificial intelligence software.
    3. Winnings:
      1. Winnings will be credited to the Account following confirmation of the Services result by LV BET.
      2. We shall not be responsible for any lost, late, illegible, incomplete, damaged, mutilated, misdirected, or postage due mail, requests, prize claims or entries sent by the User. Any request, prize claims or entry materials which we do receive shall become the property of LV BET upon receipt and will not be returned to the User and therefore we advise the User to retain a copy of any such materials.
      3. Max winning per bet slip - 100.000 EUR.
      4. Daily win limit (24 hours) per User - 150.000 EUR.
    4. Betting and Sporting Rules
      1. The rules and regulations are divided into General Rules and Special Rules dedicated to specific Sports. Both General and Special Rules and regulations are considered as rules and regulations. In specific situations, special betting rules apply to certain types of sport and betting markets. These special betting rules have precedence over the general betting rules.
      2. In addition to these rules and regulations, other manually added Special Rules that are found under Events and Markets on the Website shall be considered as part of these rules and regulations.
      3. The Users are responsible to keep themselves updated of the currently valid version of Sportsbook Rules. Placing a bet by the User is equivalent with accepting the validity of the present version of Sportsbook Terms & Conditions.
    5. General rules and arrangements regarding the placement, settlement and payouts of bets.
      1. The User declares upon the placement of bets:
        1. That they are at least 18 years of age and the personal information provided in the registration process is truthful and up to date.
        2. That they have been sufficiently informed as to the betting rules for all types of sports and are aware of the betting and payout limits and accepts these.
        3. Are not aware or do not have knowledge of the outcome of the event upon which the respective bet is placed prior to the conclusion of the Agreement.
        4. That they are not involved and will not be involved in any manipulations which could influence the outcome of an event or several events which they bet on, and that they are not aware of any manipulations of these events.
        5. That the funds with which they place bets do not stem from any unlawful activity and that they are legally entitled to dispose of such funds.
        6. That they place bets for themselves as an individual and not upon the commission or in association with other parties.
        7. That they are not a member of a group which is barred from betting on this Website. These are in particular: participants in the betting events on offer, active athletes or contestants, functionaries, coaches, etc., and moreover staff members of bookies or bet-placement companies.
        8. The betting agreement shall come about through the acceptance of a betting offer. For a bet to be valid and correct, the bet which is electronically saved on the central computer of LV BET shall apply. This may be viewed on the Account. Any unilateral right to withdrawal from the Agreement on User’s part (cancellation of bets) following the conclusion of the Agreements is excluded.
        9. There shall be no obligation on the part of LV BET to list additional information such as the type of competition (e.g. league match or cup match), shorter/extra time matches (e.g. in the case of friendly matches, mini-tournaments, youth matches, indoor matches, etc.), match sites (e.g. neutral grounds), racing distances, etc. If additional information is nevertheless provided, this shall be without engagement and not have any influence on the settlement of the bets and in no way misleads the player. The same shall apply to all types of statistics, tables and live scores.
        10. The company shall be entitled to void respective bets (including retroactively) if there is a suspicion of manipulation of the bets on the negotiated results or betting fraud. In legal terms, this shall mean that the stake monies in the bets in question shall be credited to the betting Account and you shall be barred from future betting, the Account shall be closed and the remaining funds in the Account can be paid out.
        11. Suspicion of manipulation or betting fraud is considered to exist if, for example, one or more of the following criteria have been met:
          1. Stake monies on betting events with an unusual outcome (negotiated result);
          2. Multiple betting with unusual matches/leagues (negotiated result);
          3. Staged bets with the same or pronounced changes in combinations;
          4. Betting which suggests a group of betters which is connected in terms of the time element and content.
    6. Bets Placing:
      1. LV BET reserves the right to refuse the acceptance of bets in some instances or to limit the number of bets without the obligation of providing the reason. No person should be allowed to have more than one Account. LV BET reserves the right to terminate double Accounts. In such cases, all relevant data will be transferred to the most active Account of the respective Client. LV BET reserve the right to revoke User’s privilege if a User has placed identical bets with the two/or more Accounts. This might lead to confiscation of winnings and cancellation of all placed bets including already determined bets.
      2. The settlement of bets shall be performed after the ranking is announced. In the event of the suspicion of fraud in relation to match-fixing of a particular event, LV BET reserves the right to settle the funds after any investigations are completed. Each suspicious transaction will be investigated by LV BET's internal Risk Department. The transaction investigation time can take up to 30 days. Disputed settlements or amounts credited for winnings regardless of the type must be received in writing (by mail or email) no later than 14 days after the settlement of the event bet on at LV BET.
      3. It is the responsibility of the User to immediately report each amount credited to his Account by mistake. All winnings occurring as a result of such error or mistake are considered invalid despite the circumstances, and as such LV BET has the right to revoke all mistakenly credited funds.
      4. LV BET reserves the right to correct any obvious errors or mistakes and to take the necessary steps to provide a fair and transparent service for the Users. An obvious error could be made as a result of human error or system-related technical problems which might lead to incorrect information published on the Website. For example, incorrectly displayed (reversed) handicap line, wrong Over/Under line, clearly wrong odds or incorrect decimal place (25 instead of 2.5), wrong name of the team or participant, incorrect deadlines or technical errors etc. In case of obvious errors, LV BET reserves the right to deem all affected bets invalid and refund all stakes. Additionally, if the bet is accepted at a price that is significantly different from those available in the general market at the time the bet was made or clearly incorrect considering the chance of the outcome occurring then the LV BET has the right to void all these bets.
      5. It is not allowed to place bets within the same coupon that has a clear correlation between the chosen selections. These kinds of bets might be deemed void even after the result of the event is determined.
      6. If the event has started before the scheduled starting time and is not offered in live betting, then all bets placed after the actual start of the event (start of the match, the beginning of the Set or Race, etc.) will be declared invalid and refunded.
      7. The maximum stake of the bet is dependent on the amount LV BET accepts at the time of bet is placed and may vary for each sport and individual User. If the bet is higher than the automatic acceptance level set out by LV BET (such amount might be changed without prior notice) then the stake will be examined manually. All bets sent for manual acceptance may be rejected, partially accepted or fully accepted regardless of how the request is made by the User. LV BET reserves the right to decline any bet that is up for manual approval. Any bet that, for whatever reason, has not been manually reviewed before the game starting time, will get automatically voided. LV BET reserves the right to establish separately all betting limits for each individual User and bet.
      8. If, for some reason, a betting market or event is not covered by the rules and regulations including special rules placed on the betting market on the Website, LV BET reserves the right to determine the outcome of each event on a case-by-case basis.
  7. OTHERS
    1. The Company reserves the right to amend or change the Terms and Conditions at any time by agreeing with the relevant LR State institutions. Amendments become effective from the moment of approval of the rules and publishing the announcement about the changes in the Website.
    2. The Company acts in accordance with regulatory enactments of the Republic of Latvia; therefore, in the case of dispute, the effective regulatory enactments of the Republic of Latvia will be applied.
    3. The Services offered on the Website are available to the User only within the scope of the current state of technology used. LV BET provides no guarantee for the uninterrupted availability or the serviceability of the services offered. LV BET accepts no liability for the uninterrupted availability and serviceability of the Games.
    4. All content, trademarks, service marks, trade names, logos and icons are the property of LV BET or its affiliates and are protected by copyright laws and international treaties and provisions. The User agrees not to delete any copyright notices or other indications of protected intellectual property rights from materials that they receive from LV BET. The User will not obtain any intellectual property rights in, or any right or license to use such materials or the Website, other than as set out in this Agreement. Images displayed on the Website are either the property of LV BET or to be used with permission. The User agrees not to upload, post, reproduce or distribute any information, software or other material protected by copyright or any other intellectual property rights (as well as rights of publicity and privacy) without first obtaining the permission of the owner of such rights and the prior written consent of LV BET.
    5. The User agrees to defend and indemnify LV BET and its officers, directors, and employees, and to hold them harmless from and against any and all claims, liabilities, damages, losses, and expenses, including without limitation reasonable attorney’s fees and costs, arising out of or in any way connected with:
      1. User’s access to or use of the Website or Services;
      2. User’s violation of any of the terms of this Agreement; or
      3. User’s breach of any applicable laws or regulations.
  8. COMPLAINTS
    1. Complaints and claims are accepted in writing within 30 days after the bet has been made with the LV BET administration (address: Skanstes iela 50, Rīga, LV-1013, Latvia,.), electronically by sending an email to the LV BET: [email protected] Complaints will be considered and responses provided within 10 working days of receipt.
    2. The correspondence of the Company’s activities with LR legislation is supervised by Latvia Republic Lottery and Gambling Supervisory Inspection located in: Stabu street 18, Riga, LV-1011, Latvia, www.iaui.gov.lv.

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