This brochure provides an overview of Olabet Live Odds Markets and detailed information about Olabet sports betting rules. It contains general and specific rules for settlement and cancellations for different sports. Furthermore, you will find important information about the side bets offered for these sports.
Minimum betting age strictly restricted to 18 years.
Olabet offers its players the opportunity to bet with a minimum value of 1MT per ticket in all Betting markets, and 10MT for Virtual Games, with the maximum value per ticket being 10,000.00MT, a rule also valid for all the betting markets.
GENERAL SETTLEMENT AND CANCELLATION RULES
If the outcome of a market cannot be verified officially, we reserve the right to delay the settlement until official confirmation.
We reserve the right to void any betting if markets were offered when the outcome was already known.
In the case of any obviously incorrectly displayed or calculated prices, we reserve the right to void betting. This includes a deviation of more than 100% in the pay-out compared to the market average.
If coverage has to be abandoned and the match finishes regularly, all markets will be settled according to the final result. If the outcome of a market cannot be verified officially, we reserve the right to void them.
In the case of an incorrect settlement of markets, we reserve the right to correct them anytime.
If a match does not adhere to the generally accepted format (e.g. unusual period length, counting procedure, format of a match etc.); we reserve the right to void any market.
If the rules or format of a match differ from our accepted norm, we reserve the right to void any market.
If a match is not completed or not played (e.g. through disqualification, interruption, withdrawal, changes in draws etc.), all undecided markets are considered void.
SOCCER
Important
All markets (except halftime, first half markets, overtime and penalty shoot out) are considered for regular time only.
If a match is interrupted and continued within 48h after initial kick-off, all open bets will be settled with the final result. Otherwise all undecided bets are considered void.
Regular 90 Minutes: Markets are based on the result at the end of a scheduled 90 minutes play unless otherwise stated. This includes any added injury or stoppage time but does not include extra-time, time allocated for a penalty shootout or golden goal.
Settlement and cancellation rules
If the market remains open when the following events have already taken place: goals, red or yellow-red cards and penalties, we reserve the right to void betting.
If the market was opened with a missing or incorrect red card, we reserve the right to void betting.
If odds were offered with an incorrect match time (more than 5 minutes), we reserve the right to void betting.
If a wrong score is entered, all markets will be cancelled for the time when the incorrect score was displayed.
If a match is interrupted or postponed and is not continued within 48h after initial kick-off date betting will be void.
If the team names or category are displayed incorrectly, we reserve the right to void betting.
Booking markets
Yellow card counts as 1 card and red or yellow-red card as 2. The 2nd yellow for one player which leads to a yellow red card is not considered. As a consequence one player cannot cause more than 3 cards.
Settlement will be made according to all available evidence of cards shown during the regular 90 minutes play.
Cards shown after the match are not considered.
Cards for non-players (already substituted players, managers, players on bench) are not considered.
Booking points markets
Yellow card counts as 10 points and red or yellow red cards as 25. The 2nd yellow for one player which leads to a yellow red card is not considered. As a consequence one player cannot cause more than 35 booking points.
Settlement will be made according to all available evidence for cards shown during the regular 90 minutes play.
Cards shown after the match are not considered.
Cards for non-players (already substituted players, managers, players on bench)are not considered.
Corner Markets
Corners awarded but not taken are not considered.
Next Goal Scorer
Own goals will not be considered for Next Goal Scorer settlement purposes and are ignored
All players who took part in the match since kick off or previous goal are considered as runners
All players who are currently taking part are listed. If for any reason an unlisted player scores a goal all bets on listed players stand
Market will be settled based on TV insert and statistics provided by Press Association unless there is clear evidence that these statistics are not correct.
Anytime Goal Scorer
Own goals will not be considered for Anytime Goal scorer settlement purposes and are ignored
All players who took part in the match are considered as runners. If for any reason an unlisted player scores a goal all bets on listed players stand
If a match hasn’t finished within 48h after initial kick off all bets are considered void even on players who already scored
Market will be settled based on TV insert and statistics provided by Press Association unless there is clear evidence that these statistics are not correct.
TENNIS
Important
In case of a retirement and walk over of any player all undecided bets are considered void.
In case of any delay (rain, darkness…) all markets remain unsettled and the trading will be continued as soon as the match continues.
If penalty points are awarded by the umpire, all bets on that game will stand.
In case of a match is finished before certain points/games were finished, all affected point/game related markets are considered void.
Settlement and cancellation rules
If markets remain open with an incorrect score which has a significant impact on the prices, we reserve the right to void betting.
If the players/teams are displayed incorrectly, we reserve the right to void betting.
If a player retires all undecided markets are considered void.
If a match is decided by a Match tie-break then it will be considered to be the 3rd set
Every tie-break or Match tie-break counts as 1 game
BASKETBALL
Important
Markets do not consider overtime unless otherwise stated.
Settlement and cancellation rules
If a match is interrupted or postponed and is not continued within 48h after initial kick-off date betting will be void.
If odds were offered with an incorrect match time (more than 2 minutes), we reserve the right to void betting.
If markets remain open with an incorrect score which has a significant impact on the prices, we reserve the right to void betting.
OLABET GENERAL RULES
By purchasing a ticket, the customer is deemed to have read and understood the full rules and agreed to abide by the Betting Rules.
General Game Rules
Minimum stake shall be 1MT for all bets that Olabet has to offer, unless otherwise is indicated on a particular branch. And the maximum amount on a single stake is 10,000.00MT.
Stakes with amount more than 10,000.00MT Wont be accepted
Maximum pay-outs to a single punter in a day shall be limited to 3,000,000 (three million meticals) includes bonuses on any given winning ticket. For winnings above 1,000,000 (one million meticals), Olabet reserves the right to pay the winner in installments over a period of time defined by Olabet.
When a bet is played and accepted, a customer/ client is liable to pay the amount which is equal to the stake before the event(s) selected otherwise it shall be void.
The company reserves the right to accept, not to accept or partially accept proposed bets which a client has requested
The client/ customer is obliged to check that the information issued is correct before definitively confirming the bet.
Time of accepting football bets.
Bets will be accepted up to the advertised close of sale time indicated for the particular match. In some cases at the sole discretion of Olabet.
Occasionally, tournaments, friendlies, or other matches may have time frames different than two 45 minute halves. Olabet doing the best efforts to announce this special playing time before the start of the game. If different time frame not announced… The responsibility to check is on the customer (can be checked on the press association (PA)) and the bets on the game consider in action and shall not be void. If, in a game scheduled for two halves of 45 minutes each, a referee ends the game with an official result with what appears to be a time different than 2 halves of 45 minutes each, bets will have action. If a referee declares a game abandoned for any reason, bets will be void and stakes returned.
Live Betting
If a match is suspended before full time is reached, and not completed in 48 hours, (local time of the match site) Live Betting bets on the outcome of the match are considered void and all stakes shall be returned.
The exception to this is bets that got decision. for example: the 1st half or next goal…. If the 1st half is completed, and the game is abandoned during the 2nd half before full time is reached, bets relating to only the 1st half will have action.
Olabet reserves the right to cancel any bet made on an obvious “bad” line even after the match has ended.
Olabet does not guarantee that odds will be offered at any specific time during the match.
When a team name is followed by (OT), (OT only) or (ET) this is for the 30 minute extra time period and any time the referee adds to compensate for injuries and other stoppages. It does not include penalty shootouts.
When a team name if followed by “(Pen)” or “(Penalties)” this is for penalty shootouts only.
*bed line – more than 50% difference for the payout from the average odd of 3 other betting companies (for example: bet365, pinnacle and bwin).
Asian Handicap Live Bets
or grading purposes, when placing a Live Soccer Asian Handicap bet, the handicap line and odds displayed are for the match from the point the bet is accepted. Goals scored previously (ie. current score) are ignored for a Live Asian Handicap bet. Unless otherwise specified, all Live Soccer Asian Handicap bets will be settled based on the goals scored in the remainder of the match during Regulation Time. All goals scored before the bet is accepted are not included.
Bets Accepted After Actual Kick Off
Bets made on full time result after the actual kick off will be considered illegal even if they were accepted by the terminal (agent) and a ticket has been printed. A ticket that includes an illegal bet will be considered void.
Bets accepted on fixtures played earlier than scheduled if the kick-off time of a certain fixture has been officially advanced (played earlier than scheduled) , the fixture will be considered void and will pay as a winning bet with the odd of 1.00.
Results
In the case of football and other sports, bets are settled on the official results published by the press association (PA) immediately after the match/event is finished, if the results not immediately available from the PA the result published by the official governing body immediately the match event is finished by, will be used for setting purposes. In case PA do not publish scores immediately… the score will be taken from sport sites: williamhill.com, Futbol24.com or Flashscore.com (if have different scores will consider 2 out of the 3 sites as the correct score)
Olabet makes every effort to ensure that we do not have discrepancies between the fixture data in our official publications and the data printed on the ticket, and between the data printed on the ticket and that recorded in the central system. However if as a result of human error or system problem a bet is accepted with the data on the ticket different than the data recorded in the system, the data in the central system will prevail. By purchasing a ticket the player is deemed to have agreed to accept the data in the central system as core and honest.
Cancelled Tickets
A ticket that’s marked in the system as cancelled even if the cancellation is a result of a human error a system problem will not be entitled to any payment. In some cases at the sole discretion of Olabet , the company may decide to refund the player the amount paid for the cancelled tickets.
Tickets Not Recorded In The System
Any ticket not recorded in the central system as a result of human error, a system problem or any other problem will be considered void and the bearer of the ticket will be entitled to a refund of the amount paid for the ticket.
Tickets not recorded in the system after kick-off
Any ticket that is not recorded in the central system after kick-off of the earliest fixture printed on the ticket as a result of a human error a system problem or any other problem will be considered void and the bearer of the ticket will be entitled to be refunded the amount paid for the ticket.
Tickets Recorded On The Central System After The End Of The Event.
Any ticket that is recorded after the end of the game will be an illegal bet and will be void.
Damaged Tickets
The original ticket is the only valid proof of ownership of a certain bet. No copies of a ticket can be submitted for payment. A Player must keep his ticket in a good condition. Tickets that have been manipulated or worn-out, particularly, but not only, the ticket ID and barcode, will not be accepted as valid proof of ownership and will not be paid.
Payment Of Winning Tickets
Winning tickets will normally be paid after the end of the latest fixture on the ticket. In some rare cases Olabet, may postpone the payment, at its sole discretion, in such cases the company issue a notice to the public at its points of payments.
Validity Of Tickets
A ticket is valid 60 days from the day it was purchased (the sale date printed on the ticket).
In the event of dispute, the company does not consider valid any printed matter or receipts which do not have their counterpart in the records at the company’s disposal.
The company reserves the right to make changes to these terms and conditions. Any changes will be published on the notice board.
Olabet Football Fair Rule
This rule will always apply in cases where Olabet fails to find a definitive result to any given market and Olabet will always pay as a winning bet with the odd of 1.00.
Errors
Olabet makes every effort to ensure that we do not make errors accepting bets. However, if as a result of an error, a bet is accepted at a price (which includes the odds, handicap provision, and other terms and conditions or details of the bet) to establish the correct price, Olabet will consider prices available in the general market at the time the bet was made, including the prices offered by other betting houses. In this case the best market price will be taken.
For example: If the odd is recorded as 308 when on offer in the general market is 3.08 all winning bets will be settled with a general market price.
Please note that when such instances occur, Olabet will always notify customers intending to and have placed bets on the error in question.
*a notice will appear in the bottom of the scores screen in the branches.
Fraud
Olabet will seek criminal and contractual sanction against any customer and agent involved in fraud, dishonesty, or criminal acts. Olabet will withhold payment to any customer where any of these are suspected. The customer shall indemnify and shall be liable to Olabet, on demand, all costs, charges or losses sustained incurred by Olabet (including any direct, indirect or consequential losses, loss of profit and loss of reputation) arising directly or indirectly from the customer’s fraud., dishonesty or criminal act . Olabet reserves the right to withhold payment during the period of investigation.
Voids
If a selection in a single bet is made void the stake will be refunded. Void selections in multiple accumulator bets will be as non- runners (consider as a winning bet with the odd of 1.00) and the stake will run onto the remaining selections of the bet.
Kick-off Time
Soccer kick-off dates and times displayed on our website and fixtures are an indication only and are not guaranteed to be correct. If a match does not start as scheduled, and does not
start in 48 hours from the original time published (local time of the match site) then wagers on the match will have no action and be refunded.
*if ticket that was redeemed (paid ticket) to customer includes game that was postponed and played before 48 hours (not matter if won or lost), customer should not be able to claim the bet on the particular postponed game that was paid for already.
Customer’s Role
Please always check that whatever is printed on your receipt is exactly what u wanted. Always make sure you get a receipt for your bet on payment. Please always remember to contact our staff members in cases where you feel Olabet made a mistake(s) and settle before kickoff of the first fixture on your coupon.
Cancellation Rules
*Bets placed cannot be cancelled or altered after 10 minutes and cannot be cancelled at all on live bets.
Applicability of these rules: These rules shall apply to all sports and games offered by Camlake limited.
Deposits and Withdrawals
If customers’ deposit money, any withdrawal of these amounts shall be subject to a customer betting this money at least once for the money to be fully available for a withdraw transaction.
There is a daily withdrawal limit of 20,000MT for online customers with a minimum amount of 100MT with a limit of one withdrawal a day.
All withdrawals shall be charged 15% for tax and other levies.
VIP Member
As a VIP member of our club, you have access to distinct privileges.
Bronze, Silver, and Gold:
- Daily Withdrawal Limit: 20,000 MT
Diamond:
- Daily Withdrawal Limit: 30,000 MT
Platinum:
- Daily Withdrawal Limit: 50,000 MT
Olabet reserves the right to change the daily withdrawal limit at anytime.