FAQ 2014

Frequently Asked Questions

Registration
 
How do I register with BET.co.za?
Click on “Sign Up” on the top right hand side or go to this page to sign up with us. Fill out all the required fields and wait a minute for a confirmation email with further instructions.
 
Why do I have to give so much personal information?
All the information we collect is a legal requirement of the Western Cape Gaming and Racing Board and is for your own safety.
 
Does it cost anything to register an account?
Not a cent.
 
Can I have more than one account?
No. We only allow one account per person.
 
Can I place bets through my wife’s / friend’s / brother’s BET.co.za account?
Please register your own account if you’re the one who will be betting. Otherwise, there will be issues when it comes to withdrawals.
 
Do you have a shop I can visit?
BET.co.za is only an online sports booker. We don’t have any physical shops.
 
 
Security
 
What’s eKYC? Is it safe?
It‘s Electronic Know Your Customer. We verify your details through the Home Affairs database to make sure everything checks out. eKYC is the safest way to confirm that you are you.
 
What’s FICA? Why do I have to send in my private details?
FICA is short for the Financial Intelligence Centre Act, a preventative measure taken by the government to fight crime, money laundering and terror financing. We are required by the WCGRB to collect FICA documents (Copy of ID, Proof of Residence) from each client in order to verify your identity and prevent any nefarious activity.
 
How does BET.co.za store my FICA information? Is it safe?
We store your information off-site and safely, in a location which very few people have access to. It’s very safe and the only reason why we even ask for this is for WCGRB’s purposes.
 
Logging in
 
I’ve forgotten my password or username.
1. You can retrieve your password by clicking here.
2. Send your username/email to support@bet.co.za and we will reset your password.
 
Why can’t I log in with my username and password?
1. If you enter the wrong password 3 times in a row the account will automatically lock itself.
2. If you haven’t been FICA verified then you won’t be able to log in.
 
Deposits
 
How do I deposit?
The deposit options are EFT, Credit Card, Debit Card and Cheque Card. Login to your account and go to this page to deposit.
 
How do I make a cash payment?
The only way to make a cash payment is through a bank branch with an ATM that accepts cash deposits, normally at main bank branch offices. You can find our banking details here.
 
How long does it take for the money to show in my BET.co.za account?
If you deposit via EFT you need to notify us by sending an email or payment notification to support@bet.co.za as the payment needs to be approved before reflecting in your betting account. Card payments go through instantly.
 
Can I deposit with Shoprite?
No.
 
Can I use Ukash?
No.
 
Can I deposit with my phone?
Only if you’re using your phone to access your internet banking.
 
Can I deposit with someone else’s credit card?
No. If you do we won’t be able pay out any potential winnings.
 
How do I deposit if I don’t have internet banking?
1. You can easily make an EFT transaction at your bank branch with the help of the teller.
2. You can make a cash deposit via specific ATMs that accept cash deposits, normally at main bank branch offices.
You can find our banking details here.
 
What’s an EFT?
Electronic Funds Transfer. It’s simply transferring money from your bank account to someone else’s bank account.
 
How/where do I get a reference for EFT payments?
1. Log into your BET.co.za account.
2. Click on "My Account" on the top left hand side of the page.
3. Choose a deposit method: EFT.
4. Choose how much you will deposit.
5. Receive a reference number which you will use when transferring the money.
 
 
What’s SIDPay?
SIDPay is a gateway used for payments made with Debit Card and EFT. You will need to download the 3rd party application and then you can do an INSTANT EFT deposit.
 
What’s Safeshop?
Safeshop is a gateway used for payments made with Credit Card or Cheque Cards.
 
Withdrawals
 
How do I withdraw?
1. Log into your BET.co.za account.
2. Click on “My Account” on the top left hand side of your home page.
3. Click on “Withdraw Funds”.
4. Fill out the information needed and submit your withdrawal request.
 
Can I withdraw anytime?
1. As long as you don’t have any bonus turnover pending you can withdraw.
2. If you deposited with a Credit/Cheque Card then we will require a copy of the credit card to confirm that the card is in your name before we can process any withdrawals to that same card.
 
Why can’t I withdraw?
1. It could be because you still haven’t finished the minimum turnover after receiving a bonus.
2. If you are using a new or different credit card for deposits, and we don’t have a copy of it, we will need a copy of that card before we can process your withdrawal.
3. There could be a limit on your betting account preventing the withdrawal. In that case, please contact support for assistance.
 
Are there any fees for withdrawing?
No.
 
How long does it take to receive my money?
The process time of withdrawals is 2 business days. If it’s a payment to any of the four banks that we also bank with, i.e. ABSA, Standard Bank, FNB and Nedbank, it should take no longer than 1 day from the time we pay you out.
 
How will I get paid?
We normally pay you the same way you deposited. If you deposit via EFT we will simply transfer the money to your bank account. If you deposited with credit card then we pay you back to your card.
 
How can I change the payment method?
You will have to make a request to change your method of payment by sending an email to support@bet.co.za.
 
What’s the most I can win/withdraw?
1. That depends on the sport /sporting event / specific markets you bet on.
2. If you haven’t been FICA verified yet you will only be able to withdraw maximum R1000 per day.
 
Bonuses
 
What is “turnover minimum”?
Any bonus amount you receive from us must be turned over a specific amount of times, and often at a “minimum price” (see explanation below) before you can withdraw anything. For example, if we give you R100 bonus and say that you must turn it over 5 times, it means that you must place bets at the total value of R500 before  the turnover minimum has been reached.
 
What is “minimum price”?
Price is another word for odds. With bonuses sometimes we require that you place the bonus at a minimum price of 5/10 before you can withdraw. That means that if you place that money at odds less than 5/10, it won’t count towards your “turnover minimum”.
 
How do I get a bonus?
Ordinarily, we contact you (via email, sms or phone) with different promotions offering you a specific bonus. In order to receive the bonus however, you normally need to claim it as it will not be credited automatically. This means that, after you’ve made a deposit you need to email us to let us know that you want to receive the bonus which was offered to you.
 
What is a “Match Bonus”?
A match bonus is a bonus that matches your deposit. For example, if we offer you 100% Match Bonus on your next deposit, then we will match your deposit by doubling the amount you deposited. So if you deposit R100, we will match it by giving you another R100, which means you will have R200 to bet with.
Why don’t I receive bonuses automatically?
We don’t want to force any of our clients to take bonuses if they don’t want to as there are limitations in terms of turnover and abilities to withdraw. The issue comes in when clients don’t read the T&Cs and then are cross with us because we “assumed” they wanted the bonus. We feel that it’s your option and not our decision.
 
Odds

What are odds?
Odds are a price set on the probability of the outcome of a sporting event. In a Win-Draw-Win market for example, whichever team or sportsman, has the highest odds is the most likely to lose.
 
What’s the difference between fractional and decimal odds?
The only difference is in the setting of your account. Whether the price is set on fractional or decimal, it’s still the same price, and you stand to win or lose the exact same amount. If you prefer viewing the odds in fractions or decimals just email support at support@bet.co.za with your preference and we will change it for you.
 
How do I work out the odds for a bet? 
The easiest way to calculate the odds to see how much you could win -or just to see who is more likely to win- is to get it down to a decimal. For example, 5/10 odds is the same as 0.5. You simply divide 5 by 10 and the result is 0.5.
To calculate how much you could win you just multiply the decimal odds by your stake. If you are going to bet R50 on United winning their next match and the odds are 5/10, you multiply 0.5 x 50 = 25. So you could win R25 on that bet.
 
Do the odds differ if betting is taken place before vs during the game?
Yes.

Why do odds differ on different sites?
Because different bookmakers have different opinions on event outcomes.
 
Bets
 
How do I place a bet?
1. Log into your BET.co.za account.
2. Go to the event you want to bet on.
3. Select a market (if there’s more than 1 for that specific event) and click on the odds.
4. Enter your stake.
5. If you’re happy with your selection then submit your betting slip.
 
What’s a multiple bet?
You can combine a number of selections from different markets into one bet. eg. Manchester United to be the first team to score in their first game of the EPL season + Arsenal to draw their first game in the EPL  + Correct Score for Chelsea FC to finish their first EPL game with the score 2:1. If all these bets turn out to be correct then you win the multiple. If not then you lose the entire bet.
 
What are singles, doubles and trebles?
Single Bet is one bet on a specific event outcome. eg. If you bet on Manchester United to win the EPL and they win you win the bet.
 
Double Bet is two selections in different events where both must win. eg.
If you bet on Chelsea FC and Arsenal FC to both win their first EPL season match and they both win you win the double bet.
 
Treble Bet is the same as a double bet, where all three events must win for you to win the treble bet. eg. If you bet on Manchester United, Chelsea FC and Arsenal FC to all win their first EPL season match and they all draw or lose you lose the entire treble bet.
 
What’s an enhanced multiple bet?
It’s when you place several similar bets, for example  if you choose several teams to make it to the semi final or final of a tournament.
 
How do I place a multiple bet?
It’s just like placing a regular bet. Add all your desired selections to the betslip and then put your stake in the relevant row on the betslip. Double, Treble, Fourfold etc..
 
How and when do bets get settled?
Bets normally get settled automatically right after a match has come to an end. In rare occasions when there are issues with the system, the traders will settle the bets manually.
 
Can I place live bets on any sport or event?
Almost. The only exception is horse racing.
 
Can I cancel  a bet once the match is live?
No.
 
Can the support service  place bets for me?
No.

What is a stake?
A stake is the monetary value of your bet. If you for example bet R50 on the outcome of a match then your stake is R50.
 
What is a Betting Slip?
A betting slip is pretty much the receipt for your bet. That’s where your placed bet/bets will reflect before submitting the slip
 
How do I add to my betting slip?
Once you place a bet it automatically gets added to your betting slip. Once you’ve submitted a betting slip though you can’t add any more bets to it.
 
What are dead heat rules?
The rule is that if two selections dead-heat for any placing, then half the stake is applied to the selection at full betting odds and the other half of the stake is lost.
 
What are markets?
Markets are different outcomes of events/matches/ tournaments that you can place bets on. For example Win-Draw-Win is a market on which you have to choose an outcome. Either the home team wins -  there’s a draw - or the visiting team wins.
 
Is it any different betting on lucky numbers or horse racing than other sports?
Yes and no. With any betting you bet on the outcome of a specific event. With lucky numbers you must choose a combination of numbers that will be drawn, and with horse racing you can bet on which horse will come first, second, or third etc. With other sports however there are many more possible outcomes such as who will score first, who will have the most goals by the first half time, or how many many yellow cards will be given during that match.
 
Top Betting Markets Explained
* All match markets are based on the result at the end of a scheduled regulation time -e.g. in soccer it’s generally 90 minutes- unless otherwise stated.
 
Match Winner
A bet on who will win the match.
 
Double Chance
A bet where you have two chances to win. By taking a double chance on a team, you win the same amount of money if your team win or if they draw, meaning that only the defeat of the team you backed will result in a loss.
 
Draw no bet
A bet where the stakes would be refunded if there should be a draw.
 
Totals
A spread on what combined score of both teams will be. This market will be settled on the final scores.
 
Handicap result
One of two teams is generally given a “head start” in terms of the number of goals/points. Odds are then offered based on the “head start”. eg. If you bet on the Sharks plus 9.5 points and they win the match outright, you will still win your bet.
 
Match bookings
Bookings refers to yellow cards and only yellow cards. If a player receives a red card, that will not be added to the total bookings of that match.
 
Outright Betting
A bet on who will win the tournament.
 
Match Betting
A bet on who will win the match.
 
Pre-Match Exotics
Exotic markets are all markets except for Match Betting. Pre-Match Exotics are when you place bets on exotic markets before the match.
 

 

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