Sports Regulations

4.2 Bets are accepted in cloudbet’s betshops or on the following website: cloudbetng.bet

 

4.2.1. The procedure of accepting bets in betshops

The participant submits a request to the bookmaker to accept a bet on the event or events /hereinafter: event/ from the promulgated program, informing of the event included in the program, the outcome of the event, as well as form and type, and the amount of the bet. The participant can also place a bet on his/her own without applying to the bookmaker. In this case the participant makes a bet on his/her own, choosing the event, the outcome of the event, form of the bet (when necessary), type of the bet, as well as the amount of the bet. In case the participant made a bet on his/her own the participant pays the bookmaker a certain sum on the participant’s own accord (no less than 100 Naira) and receives an opportunity to make a bet (bets) within that amount. At the moment of paying the sum the participant will be given a receipt (ticket). The participant will be given a ticket that confirms the bet was accepted every time the participant makes a bet.In case of winning the participant shows the ticket that confirms the won bet and receives the winning amount. In case the prepaid sum was not wagered entirely, the amount that wasn’t wagered will be refunded.

Before accepting the bet, depending on peculiarities of the given event the Organizer can establish a certain bet amount for some events, e.g. for “Short-term” financial bets the following bet amounts are established: 200 NAIRA, 400 NAIRA, 800 NAIRA, 2000 NAIRA, 4000 NAIRA, 6000 NAIRA, 8000 NAIRA, 10000 NAIRA.  Maximum amount of bets per ticket is 1,000,000, (one million) NAIRA.

 

Bookmaker enters the participant’s order into the computer, prescribed for accepting bets. Afterwards he/she makes a Ticket of accepting bet. After the participant pays the bet amount, he/she is provided with the Ticket, printed by the computer. Starting from that moment the bet is viewed as accepted. After the participant receives the Ticket, he/she has the right to make sure that his/her bet data were fixed without changes on the server/computer server of the organizer. In case of their absence or incompliance, organizer is responsible only for the data, fixed on the server.

After the bets are accepted, they are not subject to changes and amendments. Any objections, related to the bet formation are accepted during 5 minutes after the participant receives the Ticket, except Online bets. During the mentioned period, objections are not accepted in case the event on which a bet was made had already started or the bet was made via internet.

If the Cashout function is active at the moment of making a bet, the participant receives a Ticket with the mark. The user can use this function in the prescribed order. If the function is not active at the given moment, and the Ticket doesn’t have any mark on it, the participant cannot use this function.

If the Cashout function is not active at the moment of making a bet, the participant has right to make a bet on the given event when the function becomes active. To use the Cashout function the participant should approach the bookmaker, present the Ticket with the mark and tell that he/she wants to use this function.

The bookmaker informs the participant about the compensation sum. In case of his/her agreement he/she closes the bet. If the participant doesn’t agree with the compensation sum, the bet is valid until the event ends. If the participant wants to use the Cashout function for the event, marked on the Ticket, and the organizer doesn’t offer the compensation sum, the bookmaker informs the participant about that.

For example, suppose the conditional bet of 1,000 NAIRA was made in Armenia's victory in the "Armenia-Denmark" soccer match (1) with 2.2 coefficient. In the case of victory, winnings will make 2 2000 (1,000 x 2.2). After making the bet, the W1 coefficient drops from 2.2 to 1.5. In this case, the amount of Insurance will be calculated as follows: the correlation of coefficients (2.2 / 1.5) multiplied by the bet amount, then the discount set by the organizer is deducted from the result, which in the given example is 8.5% (2.2 / 1.5 x 1 000) - 8.5% = 1 342: Thus, the participant has the opportunity to take the 1 342 drams through "Insurance /, Cashout" before the outcome of the event becomes clear.

 

 

 

4.2.2. The procedure of accepting bets via website

The bets via Internet are accepted as follows: first of all, the participant should register on the Organizer’s website, which contains information about the program, rules of the lottery /these regulations/, participant’s registration on the website, gaming account, receiving the winnings, entrance to the website, and other information. During registration on the website the participant should provide accurate personal information, name, surname, address, nationality, age or date of birth, passport number, as the winnings or money from the account is only paid to a real person, username (login), password, as well as any other information placed on the website the Organizer requires. Upon registering, in case of entering any fictitious or incomplete information, the participant loses the opportunity to revise the disputed issues. After registration on the website a personal gaming account is opened for the participant. One individual can have only one gaming account. The registration on the website cannot occur if there is already a registered account with the same login.  In case cloudbet has strong arguments, that the Holder's account has been used by a third party for the purpose of making bets and/ or confirmation of the re-registration (including a new name, new e-mail, etc.), the Organizer reserves the right to invalidate the bets made from such an account, and cancel the payment of the winnings.

In order to place a bet on any event the participant should submit an order indicating the event on which he/ she places a bet, as well as the outcome of the event, form, type and amount of the bet. Before accepting the bet, depending on peculiarities of the given event the Organizer can establish a certain bet amount for some events, e.g. for “Short-term” financial bets the following bet amounts are established: 200 NAIRA, 400 NAIRA, 800 NAIRA, 2000 NAIRA, 4000 NAIRA, 6000 NAIRA, 8000 NAIRA, 10000 NAIRA.  

The bet placed via Internet is considered accepted if it has been added to the participant’s gaming account in ''My bets'' section. The content of the website, its form and procedure of using, and the sequence of steps are determined and changed by the Organizer. The website address or its changes are announced via the way of information dissemination which is more preferable for the Organizer.

In case of communication failure or other technical issues the bet is not calculated with coefficient 1, if it has already been recorded on the server of the Organizer’s computer.

The participant carries personal responsibility for confidentiality of his/her gaming account, login and password. The company guarantees non-disclosure of the participant’s personal data by its staff and is not responsible for the consequences of the participant’s personal data being known by other persons. In case the participant becomes aware of the loss of his/her personal data or when he/she has certain doubts about it, he/she should notify the company without haste and change his/her password. In case of forgetting or losing the password and login the bets are not repeated.

The participant can change his/ her password in ''Change Password'' section of ''My Account'' web page.

The participant can make a deposit on his/her account:

A) In the betshops of the company where the participant pays the cash and submits his/her username (login), after which the amount is credited to his/her gaming account during 1 hour.

4.3. The fact of the accepted bet being won or not is determined by recording the fact of the chosen event or set of events having taken place, considering the outcome (result) of the event. The outcome (result) of the event is determined based on the information provided by the official Organizer and/or Organizers of the event. If the initial result of the event has been revoked for some reason later on, this fact isn’t considered and the bets are payable according to the initial (actual) results except if the original published results of the event are amended within 24 hours of their initial publication. Initial (actual) result is the result which is announced by the official organizer and/or/ organizers of the event immediately after it is over. If the result of the event /events/ isn’t announced by the official Organizer and/or/ organizers of the event during 72 hours after it is over, the organizer of the lottery may use other information sources notifying the participants about the information source and results. While collecting the outcomes (results) of the events, the following websites in particular are taken as an information source.