BetPro Exchange Terms & Conditions

BetPro Exchange is a peer-to-peer betting platform where users can back (bet for an outcome) or lay (bet against an outcome) bets, matched anonymously with other users. These Terms & Conditions govern your use of our services, including betting, account management, and API access.

You must be at least 18 years old and legally permitted to participate in betting exchanges in your jurisdiction. BetPro reserves the right to request verification documents to confirm eligibility.

• Proof of identity (e.g., government-issued ID, passport).
• Proof of address (e.g., utility bill, bank statement).
• Proof of payment method ownership.
• Understanding of lay betting risks, including liabilities exceeding your stake.
• Residence in a jurisdiction where betting exchanges are permitted.

Your BetPro account is for personal use only and must be managed responsibly.

• You are responsible for all activity on your account.
• Only one account per person is permitted.
• Keep login credentials secure and confidential.
• Accounts are non-transferable.
• Provide accurate and current information during registration.
• Maintain sufficient funds in your BetPro wallet to cover lay bet liabilities.
• Funds are held in a segregated account for security.

BetPro Exchange operates as a peer-to-peer betting platform, matching back and lay bets between users. All betting is subject to our Betting Rules.

Key principles:

• Matched Betting: Bets are only active when matched with an opposing bet (back or lay) at agreed odds.
• Unmatched Bets: Unmatched or partially matched bets may remain in the market, be canceled, or expire based on market settings.
• Lay Liability: Lay bets require sufficient funds to cover the backer’s stake multiplied by the odds, minus your stake.
• Market Settlement: Outcomes are settled based on official results from governing bodies (e.g., FIFA, NBA, ATP).
• Void Bets: Bets may be voided due to market errors, event cancellations, or regulatory requirements.
• In-Play Betting: Live markets may have delays or suspensions to ensure fairness (e.g., during VAR decisions).
• Cashout: Optional cashout features may be available, subject to market liquidity and fees.

BetPro Exchange charges a commission of 2% to 5% on net winnings per market, based on your account tier. Additional fees may apply for specific transactions.

• Commission: Deducted automatically from net winnings (winnings minus losses) per market.
• Premium Charges: Applied to accounts with lifetime net winnings exceeding ₦50,000,000, at a rate of 0.5% to 2%.
• Payment Fees: Deposits and withdrawals may incur third-party fees (e.g., 1% for bank transfers, 2% for card payments).
• Inactivity Fees: Accounts inactive for 12 months may incur a ₦1000 monthly fee.
• Currency Conversion: Transactions in non-NGN currencies incur a 1.5% conversion fee.

Engaging in prohibited activities may result in account suspension, termination, or legal action.

• Match-fixing or manipulating event outcomes.
• Using bots or automated systems without API approval.
• Multiple account abuse, bonus abuse, or arbitrage exploits.
• Manipulating markets by placing back and lay bets on the same outcome to exploit commissions.
• Using insider information to gain an unfair advantage.
• Colluding with other users to manipulate odds or outcomes.
• Money laundering or using funds from illegal sources.
• Circumventing geographic restrictions (e.g., via VPN).

Betting exchanges involve unique risks, particularly for lay bets, where liabilities can exceed your stake.

• Lay Liability: You must have sufficient funds in your wallet to cover the full liability of lay bets at placement.
• Auto-Cashout: Optional cashout features allow partial or full settlement of bets, subject to market liquidity and a 1% fee.
• Risk Warnings: Betting carries financial risks; only bet what you can afford to lose.
• Tools: Use deposit limits, loss limits, or self-exclusion to manage your betting activity.

BetPro Exchange is committed to maintaining fair and transparent markets for all users.

• Monitoring: We use advanced systems to detect suspicious betting patterns, including potential match-fixing.
• Market Suspension: Markets may be suspended during significant events (e.g., VAR decisions, player injuries) to ensure fairness.
• Regulatory Compliance: We cooperate with sports governing bodies and regulators to prevent fraud and maintain integrity.
• Error Correction: Incorrect odds or market errors may result in bet voiding or odds adjustment, with notification via email.

BetPro may suspend or terminate accounts for violations of these terms. Funds may be withheld pending investigation.

• Violation of Terms & Conditions or Betting Rules.
• Suspected fraudulent activity or market manipulation.
• Failure to provide verification documents.
• Requests by regulatory authorities or law enforcement.
• Inactivity for 24 months without prior notification.

Your personal information is handled in accordance with our Privacy Policy.

• Data Security: Industry-standard encryption (e.g., AES-256) protects your data.
• Data Usage: We use your data for account management, betting services, and regulatory compliance.
• Data Sharing: Limited to regulators, payment providers, and authorized partners.
• User Rights: Request access, correction, or deletion of your data via support@betpro.com.ng.

Disputes are resolved per our Support Policy and may be escalated to the National Gaming Commission.

Process:

1. Contact support@betpro.com.ng within 7 days of the issue.
2. Provide details and evidence (e.g., bet ID, screenshots).
3. Our team will investigate and respond within 72 hours.
4. Escalate unresolved disputes to our disputes committee or regulatory authorities.

BetPro Exchange offers an API for automated betting, subject to our API Terms.

• API access requires approval and adherence to rate limits (e.g., 20 requests/second).
• Unauthorized API usage (e.g., excessive requests, data scraping) may result in suspension.
• Users are responsible for securing API keys and monitoring usage.
• API bets are subject to the same rules as manual bets.

We may update these terms periodically. Material changes will be notified via email or in-account notifications at least 14 days in advance.

For questions about these Terms & Conditions, contact us:

• Email: support@betpro.com.ng (response within 24 hours).
• Live Chat: Available 24/7 via the BetPro platform.
• Phone: +234 800 123 4567 (9 AM–9 PM WAT).
• Address: BetPro Exchange, 123 Betting Avenue, Lagos, Nigeria.