Terms of Play
Colossusbets Limited ("we", "us" "Colossus Bets") provides a platform (the “Site”) for gambling transactions, which includes the website located at www.colossusbets.com. We are registered in England and Wales under company number 07981562 and have our registered office at Colossus Bets, 4 Bloomsbury Square, London WC1A 2RP, England.
Colossusbets Limited is licensed and regulated by the UK Gambling Commission, under licence 31514.
These terms and conditions of play ("Terms of Play") govern your ("you", "your", "Player") betting activity with Colossus Bets. By opening an account with Colossus Bets (an “Account”) you confirm that you agree to be bound by these Terms of Play.
If you have any questions about these Terms of Play please contact us at: email@example.com or call us using one of the telephone numbers provided on the Site.
Your attention is drawn to the following, all of which form part of these Terms of Play:
1. ABOUT YOU
1.1 The Site is a gambling platform where you can make bets ("Bets") on the outcome of events selected by Colossus Bets. It is a condition of your opening an Account and of your use of that Account that you warrant and represent to Colossus Bets that you are over the age of 18 and that you have the mental capacity to take responsibility for your own actions and can enter into a legally binding agreement with us. It may be an offence for you to participate in gambling if you are under 18 years of age.
1.2 We will undertake an age verification process using the details we obtain from you during the registration of your Account. These details may be checked against a variety of identity databases. We may also ask you for specific proof of identification (such as a copy of your passport). At times we may also use your information to pursue other checks of identity.
1.3 If your age cannot be verified within the first 72 hours after opening an Account and depositing funds, your Account may be frozen. For the Account to be re-activated, you will need to provide us with copies of any relevant identification documentation as we may request.
1.4 No winnings will be paid to Players (and no withdrawals can be processed to Players) who have not satisfactorily passed the age verification process.
1.5 You must not Bet with Colossus Bets if you are resident in the United States of America and such other territories as we deem "prohibited territories" from time to time.
1.6 Players are responsible for ensuring that they comply with any laws applicable to betting in their country of residence. Colossus Bets is not responsible for any action which may arise from placing Bets in a country in which betting may be illegal. You must not access the Site and/or or open an Account from within a jurisdiction that prohibits gambling and the availability of the Site from any such jurisdiction does not constitute an invitation by Colossus Bets to use the Site in any such jurisdiction.
1.7 We reserve the right, for whatever reason and at any time, to close your Account or suspend access to our Site for Players who are found to be in breach of the warranties given above (or if we suspect any other breach of these Terms of Play). We also reserve the right to block transactions from any prohibited territory at our discretion.
1.8 You understand that by betting with Colossus Bets you may lose money and you accept full responsibility for such losses.
1.9 You shall indemnify and hold harmless Colossus Bets, its group or related companies, employees, agents and partners from any claims, liabilities, costs and expenses that may arise as a result of your breach of these Terms of Play or a breach of any laws of any jurisdiction applicable to you. In the event of any such breach, your Account may be frozen and any credit balance may be withheld by Colossus Bets pending investigation and/or the outcome of any legal or regulatory proceedings.
2. YOUR ACCOUNT
Opening Your Account
2.1 To transact with Colossus Bets, You must open an Account and you may only place Bets with funds held in your Account.
2.2 You warrant to us that you are acting as principal and not as agent for any third party and when you fund your Account you are using your own source of funding.
2.3 Only one Account is permitted per Player. We reserve the right to close any duplicate accounts we identify and to void any Bets made using duplicate accounts and you confirm that you have not previously had an Account closed by us.
2.4 We may supply the information you have given us to authorised credit reference agencies (or other third parties who offer customer validation services) to confirm your identity and payment details. You agree that we may process, use, record and disclose personal information which you provide in connection with your registration and that such personal data may be recorded by us or such third party agencies.
2.5 You agree that you will keep your customer registration and account details up to date.
2.6 You will not disguise or interfere in any way with the IP address of the computer you are using to access the Site or otherwise take steps to prevent us from correctly identifying the actual IP address of the computer you are using whilst accessing the Site.
Using Your Account
2.7 When you open an Account, you will be required to choose a username and a password. You must keep your username and password (or such other criteria as may be used by you to access your Account) confidential and you should not allow any other person or third party (including, without limitation, any minor) to use your Account or accept any prize on your behalf. You must take all reasonable steps to avoid disclosing your username, password and other Account details to anyone else, including ensuring that up-to-date security software is downloaded onto your computer. We will assume that any actions taken under your Account details have been taken by you and any Bets placed using your details may be considered valid.
2.8 You understand that you are liable for all transactions made using your Account and that Colossus Bets accepts no responsibility for any misuse of your Account by any third party.
2.9 You warrant and represent to Colossus Bets that you will not use your Account in a manner which causes a breach of the rules of a relevant sports governing body or other professional body.
Funding Your Account, The Terms on Which We Hold Your Funds and Withdrawals
2.10 You can fund your Account using the methods described on our account funding page.
2.11 The minimum deposit into your Account is £10 or currency equivalents.
2.12 By depositing funds into your Account, your direct us and we agree to hold such funds, along with any returns from Bets, on trust for you for the sole and specific purpose of placing Bets and settling any fees or charges that you might incur as described in this clause 2 (the "Purpose"). All funds that we hold for you are held in separate designated customer bank accounts to be used solely for the Purpose. Our bank has acknowledged that in the event of our insolvency it will not seek to use any funds held in our customer bank accounts to offset any other liabilities owed to it by Colossus Bets. This means that the manner in which the funds in your Account are held by us falls into the UK Gambling Commission's 'Medium' category of protection. This paragraph should be read subject to any other provision that entitles us to properly withdraw monies in your account for example as a result of your error, fraud or wrongdoing and such monies shall be deemed never to have been held on such trust for the Purpose.
2.13 You must notify Colossus Bets if any sum is incorrectly credited to your Account. Colossus Bets is entitled to reverse such credits and/or recover such sums from you if you have withdrawn them. Any Bets made with improperly credited sums may be cancelled by Colossus Bets and any winnings made from these Bets may be reversed. If we have paid out on any such Bets, such amounts shall be deemed to be held by you on trust for us and shall be repaid to us without undue delay when a demand for payment is made by us to you.
2.14 If you want to withdraw £10,000 or more (or the equivalent in another currency) in any 24 hour period you may need to contact our Customer Services team.
2.15 For winnings/cash-outs of over £100,000 Colossus Bets reserves the right to undertake reasonable verification checks prior to payment but will endeavour to make all such payments within 3 working days of the dividend declaration of the relevant pool.
Account Fees and Chargebacks
2.16 When you make a deposit by bank transfer, debit or credit cards, some banks and credit card companies may levy a fixed and/or interest charge from the date of payment. This is your responsibility to settle.
2.17 When you make withdrawals using a UK debit or credit card, or via bank transfer to a UK bank account, we will absorb any charges so that such withdrawals are free of charge for you.
2.18 If you use a non-UK bank account to make deposits and/or withdrawals you will be responsible for any bank charges this may attract.
2.19 If you make repeated deposits and withdrawals but do not engage in what we deem to be a reasonable level of betting, we reserve the right to charge any associated bank charges to you by debiting your Account. We will endeavour to provide you with advance notice before doing this.
2.20 It is your sole responsibility to account to the relevant tax authorities in relation to any taxation which may apply to your betting activity on our Site.
2.21 If you chargeback any deposited funds, you will be in breach of these Terms of Play and we will be entitled to close your Account and terminate our relationship immediately.
Closing Your Account
2.22 You have the right to close your Account at any time. To close your Account you should contact our Customer Service team by email, telephone or letter.
2.23 We reserve the right to close or suspend your Account at any time, including in relation to any suspected breach of these Terms of Play by you or if we believe you are engaging in activity which we believe is detrimental to the conduct of our business. We will endeavour to give you notice before closing your Account unless circumstances dictate that legally or practically we cannot do so.
2.24 When your Account is closed, subject to any other terms within these Terms of Play you will be sent the sum, if any, held in your Account by a method of payment determined by us.
2.25 We will consider your Account to be dormant if you have not transacted on it for a continuous period of 365 days. If your Account becomes a dormant Account and there is a credit balance in it, then we will use all reasonable endeavours to contact you to find out how you would like us to deal with your outstanding credit balance.
2.26 Whilst an Account is considered dormant, we may levy a monthly administrative fee of £10, to be deducted from the Account on the date that it becomes dormant and at the end of every complete calendar month thereafter.
3. PLACING YOUR BET
3.1 Bets accepted by Colossus Bets will be provided with a unique reference number. If you are unsure about the validity of a Bet, please check the ‘History’ page within the ‘My Account’ section of the Site.
3.2 It is your responsibility to check that the Bet instructions you submit are correct before confirming the Bet. Colossus Bets reserves the right to refuse placement of any Bet for any reason.
3.3 Where there is any disagreement as to the details or status of the Bet or cash-out transaction, Colossus Bets’ records will be the primary source of evidence for the details/status of the Bet.
3.4 Colossus Bets may, in its sole and absolute discretion, decide to suspend betting on a pool at any time. Colossus Bets also reserves the right to void a pool in its entirety or any Leg(s) or Bet(s): to correct any obvious errors; to maintain integrity and fairness in the Colossus Bets pools; if there has been a change to the format or events within a pool; or if it believes any Bet has been placed in contravention of either these Terms of Play or the rules of a sports governing body or other relevant professional body.
3.5 Players bet on the outcome of multiple related events which are pre-selected by Colossus Bets ("Legs") and decided over a set period of time ("Game Period").
3.6 The Legs in any Game Period shall be selected by Colossus Bets acting at its sole discretion.
3.7 Players may choose to place one or more Bets, each consisting of a minimum of at least one selection in each Leg. For example Arsenal to beat Aston Villa by 'Other Home Win' (i.e a home win by a score not otherwise listed on the coupon), Liverpool to beat Newcastle 3-2, and Chelsea and Everton to draw 1-1. Each Bet is identified with a unique reference number when the Bet is accepted.
3.8 For any given Leg a Player may make one or more selections of alternative results. For example, if you choose 3-1 and 2-1 in Leg 1 and 1-0 in all other Legs – this would constitute two Bets (or two “Lines”). Each Bet has a full unit cost, for example £2 for a Player whose account is denominated in Sterling (GBP), and the Colossus Bets bet placement engine will add up the amount of Lines multiplied by the stake per Line to show the total amount staked on your Bet.
3.9 Bets on American Football are placed for the result including all overtime periods and if an American football match results in a tie after overtime, in correct points margin pools the lowest points margin win for the home team and the away team will be settled as dead-heating winning selections. Unless stated otherwise, all Bets on other sports are placed for the correct result in the ordinary passage of play according to the match officials including stoppage time, but excluding extra time, any golden point period, penalties or similar (if they occur).
Currency and Pool Units
3.10 The base currency for all Colossus Bets pools is Sterling (GBP). This means that certain data (including but not limited to Pool Units, Pool History, Unit Distribution and Winning Units) will be displayed on the Site in Sterling values only. However values which are specific to your Account, including the prize you are playing for, your stake options and any cash-out offers, will be displayed to you in the currency of your Colossus Bets Account.
3.11 Colossus Bets may give Players the option to place Bets at a fraction of the full unit cost predetermined for the pool. For example, if the full unit cost in a pool is £2 (as is the case in the Pick 7 Colossus Correct Score pool), Colossus Bets may enable Players to place Bets for a fraction of this full £2 unit cost. Fractional Bets like this will give the Player a corresponding entitlement to any dividends payable at the point of pool settlement. For example, if a Player places a Bet for 50 pence in a pool with a full unit cost of £2, the Player will be entitled to a one-quarter (25%) share of any dividend payable in this pool (including in relation to any Bonus Pool, if applicable). A Player betting in a currency other than Sterling can also place Bets which are a fraction of the full local currency unit stake, for a corresponding entitlement to any dividends payable. Staking options available to Players betting in different currencies may differ, but in all cases Players will only be entitled to a dividend which is proportional to the cost of their Bets.
Settlement, Abandonments, Postponements and Errors
3.12 Subject to the other provisions in this clause 3 below all bets will be settled based on the official result of the relevant event regardless of any subsequent disqualification or amendment to the result.
3.13 In the event of any uncertainty about any official result, Colossus Bets reserves the right to suspend settlement of any pool until the uncertainty can be resolved to its reasonable satisfaction.
3.14 Colossus Bets reserves the right to reverse the settlement of a pool if it has been settled in error (for example, a human or technical error). If Colossus Bets resettles a pool, this may lead to amendments being made to Players’ Account balances to reflect changes in pool settlement.
3.15 Notwithstanding anything else in these Terms of Play, once a pool has been settled for 72 hours, its settlement will be considered full and final.
3.16 If a match is not completed - i.e. the full period of play (so for example 90 minutes in the case of soccer), according to the match officials, plus any stoppage time within 3 days of its scheduled start date, it will be considered a void Leg for the purpose of all pools in which it has been included.
3.17 If a match starts but is later abandoned or postponed but is completed within 3 days of the scheduled start date, it shall be considered a valid Leg for all pools in which it is included unless the match is restarted from the beginning. If the match is restarted from the beginning then clause 3.16 above applies.
3.18 Notwithstanding the provisions of this clause 3 above, in circumstances where Colossus Bets reasonably believes that a match (whether started or not) will not be completed within 3 days of its scheduled start date, Colossus Bets reserves the right to declare the match to be a void Leg at that point for the purpose of relevant pools (irrespective of whether the match is ultimately completed or not within 3 days of its scheduled start date).
3.19 The voiding of any Bets or Legs as described above in relation to abandoned/postponed fixtures will not apply to Bets/Legs unconditionally determined at the time of abandonment/postponement. For example, if Colossus Bets offers a Leg based on the score at half-time in a match, the abandonment of the match at any point after half-time is not relevant to the completion of the Leg in question.
3.20 If any pool is decided on fewer than the advertised number of Legs, then the Bonus Pool and any guarantees or rollovers otherwise applicable to a pool, will be disapplied. In such circumstances Win Pool and Consolation Pool dividends will be declared based only on the net stakes of tickets purchased for that specific pool, although Colossus Bets reserves the right to apply a substitute guarantee to any such pool.
3.21 Provided at least one Leg of the pool takes place, a Win Pool dividend will be declared. If no Legs of a pool are completed, all Bets in that pool will be void and stakes will be refunded. This excludes stakes rolled over from previous pools, which will be rolled over for use in future pools as determined by Colossus Bets.
3.22 Notwithstanding the terms of clause 3.20 above, to the extent that a pool includes Consolation Pool(s), if the number of Legs which are completed means that every ticket automatically contains at least one winning Line in any such Consolation Pool, then the Win Pool and all Consolation Pools in the pool will be declared void. For example e if only 2 legs of a correct score Pick 6 take place then each of the ‘4 of 6/all correct except two’ Consolation Pool, the ‘5 of 6/all correct except one’ Consolation Pool and the Win Pool will be void.
3.23 If the scheduled venue for a Leg is changed after a pool has been loaded by Colossus Bets, the Leg will be void only if the new venue is a home ground of the original away team. For matches played at a neutral venue bets will stand regardless of which team is listed as the home team.
Tennis specific Rules
3.24 For ‘Head to Head’ pools (also referred to as ‘H2H’ or ‘1x2’):
- a leg will be determined as: a home win ('1'), if the first named player progresses further in the tournament than the second named player; a draw ('X'), if both of the named players are eliminated in the same round; or an away win ('2') if the second named player progresses further in the tournament than the first named player.
- if both players in a Leg reach the final of the relevant tournament, the winner of the final will be deemed to have progressed furthest.
- if a relevant player does not play at least one point in the tournament (excluding any qualifying rounds), any Leg in a pool featuring such player will be void.
3.25 For pools based on the correct score of selected matches:
- if a player retires or is disqualified before the completion of the match, Legs featuring such match will be void.
- if the scheduled duration of a match is reduced or increased in the number of sets required to win, Legs featuring such match will be void.
- if a match is postponed or re-scheduled, Legs featuring the match will stand provided the match is played before the end of the tournament.
3.26 If a tournament is not completed with 3 days of its scheduled completion date, Legs in a pool which have not been unconditionally determined will be void.
3.27 Bets on tennis pools will stand regardless of changes to scheduled venues, including any changes to a different type of surface.
3.28 References above within this clause 3 to a particular number of 'days' shall mean the end of the day in local time (where the relevant fixture, event or tournament is taking place) after the expiry of the specified number of days. For example, if a match is scheduled to be completed on 15th November when a pool is loaded on the Site, then the rule that allows the match to be completed within three days after the scheduled completion date would mean that the deadline for completion of that match would be 23.59:59 local time on 18th November.
3.29 Colossus Bets accepts no responsibility for typing, transmission and/or evaluation errors. Colossus Bets also accepts no liability for incorrectness or incompleteness or inaccuracy of the information provided via the Site, including (without limitation) any clock counting down to the beginning of the next passage of play in a pool, any live scores and results.
4. ORGANISATION OF OUR POOLS AND ASSOCIATED DEDUCTIONS
4.1 All Bets are pool bets where winnings are determined by reference to the money staked and the number of correct entries in the pool.
4.2 Bets which correctly predict scores and/or outcomes of the required number of Legs will win a share of the Win Pool, and where applicable Consolation Pools and the Bonus Pool.
4.2.1 "Win Pool" - Players who select the correct result (being the correct score in score pools, correct margin in points margins pools and the correct home/draw/away outcome in 1X2 pools) of all the Legs of a pool will win a share of the Win Pool.
4.2.2 "Consolation Pools" – In certain pools Players who select all of the correct results except for one, two or three results as applicable, shall share the relevant Consolation Pool.
4.2.3 "Bonus Pool" - Winners of the Win Pool (provided they have not fully cashed-out their ticket; see the rules on ‘cash-out’ below), shall have a free pick at the score of an additional match selected by Colossus Bets, and those who select the correct score in such additional match shall share the Bonus Pool.
4.3 The Win and Bonus Pools will grow and rollover independently depending on whether they are won. Any rollovers from Consolation Pools will be applied to the next corresponding Win Pool. Colossus Bets will endeavour to apply all such rollovers to the next equivalent pool (for example, an English Premier League Pick 6 pool rollover will typically be applied to the following week’s English Premier League Pick 6 pool), but rollovers will be applied by Colossus Bets acting at its sole discretion.
4.4 Player stakes are allocated to each pool in accordance with the following:
4.4.1 Stakes on Pick 7 and Pick 6 correct score and correct points margin games shall be allocated as follows:
• 60% of stakes shall be allocated to the Win Pool.
• 10% of stakes shall be allocated to the Consolation Pool for all but one correct selections.
• 15% of stakes shall be allocated to the Consolation Pool for all but two correct selections.
. 15% of stakes shall be allocated to the Bonus Pool.
4.4.2 Stakes on the 1X2 Pick 15 game will be allocated as follows:
• 40% of stakes shall be allocated to the Win Pool.
• 10% of stakes shall be allocated to the Consolation Pool for all but one correct selections.
• 15% of stakes shall be allocated to the Consolation Pool for all but two correct selections.
• 20% of stakes shall be allocated to the Consolation Pool for all but three correct selections
• 15% of stakes shall be allocated to the Bonus Pool.
4.4.3 If a game is decided on fewer than the advertised number of Legs (and for all tennis pools), then the Bonus Pool will not apply, and the stakes ordinarily allocated to the Bonus Pool will be allocated to the Win Pool, so that (for example) the revised Win Pool allocation for a Pick 6 correct score game will be 75% of total stakes. This excludes stakes brought forward in rollovers from previous weeks’ Bonus Pools stakes, which will rollover directly to a subsequent Bonus Pool as determined by Colossus Bets. If a Consolation Pool is voided as described in clause 3.23 above the allocation from stakes for such Consolation Pool will be applied to the Win Pool.
4.4.4 For all other games 100% of stakes shall be allocated to the Win Pool and no other pools shall be available.
4.5 Unless stated otherwise, each pool is subject to a deduction of 30%. The net amount in each pool is 70% of stakes and the allocation of stakes to the different pools referred to above is before this deduction.
4.6 Each winning Line in a ticket is only eligible to win the single highest relevant prize fund applicable to such Line. For example a Line which includes the correct score in each of the six Legs of a correct score Pick 6 pool will win a share of the Win Pool prize but no Consolation Pool prizes which attach to that Pick 6 pool. Similarly a Line in that same pool which includes five of the six correct scores (but not six of six correct) will win a share of the ‘all but one’ Consolation Pool prize and therefore will not be eligible for the ‘all but two’ Consolation Pool prize.
4.7 Notwithstanding the terms of clause 4.6 above, Players who qualify for the Bonus Pool by winning the Win Pool (and who have not cashed-out the relevant ticket in full) will have a free pick at one additional correct score prediction for a subsequent match selected by Colossus Bets at its discretion ("Bonus Leg"). All Players who correctly predict the result of the Bonus Leg shall share the Bonus Pool.
4.8 All Colossus Bets dividends and partial cash-out transactions will be rounded down to the nearest one pence (or currency equivalent). For example a dividend of £350.49764 will be rounded down to £350.49 and the cashing out of 10% of an offer of €25.67 for 100% of a Live Ticket, will be rounded down to a cash-out amount of €2.56.
5. ENTERING THE BONUS POOL
5.1 If you are successful in a Win Pool (and have not cashed-out your ticket in full), you will be entitled to enter the corresponding Bonus Pool to the extent that one is offered. The pop-out information button found on the header of each pool on the Site will describe the Bonus pool, if one is offered. One Bonus Leg selection will be allowed for each winning Line in a Win Pool winning ticket.
5.2 If eligible for the Bonus Pool, you will need to contact Colossus Bets by telephone (on 0800 404 9529 if dialling from the UK, or +44 20 3393 3662 if dialling from outside the UK), provide details of your Win Pool winning ticket and you will be given a unique code, which is required to make your Bonus Leg selection. You must complete this registration process within 72 hours of the end of the final match of the relevant Win Pool. Colossus Bets may require you to go through certain security procedures prior to our accepting your registration/selection.
5.3 The Bonus Leg will be identified and published by Colossus Bets at least 24 hours prior to its scheduled start – typically midday on Friday for a weekend match or 24 hours prior to the scheduled start of a midweek football match such as a Champions League fixture.
5.4 Once your Bonus Leg selection has been made, it cannot be altered unless the Bonus Leg is voided in accordance with clauses 3.16-3.17 above. In such circumstances Players will be required to re-enter a selection for the rescheduled event or an alternative event, as determined by Colossus Bets.
5.5 Any qualifying Player who does not, for whatever reason, register for the Bonus Leg by the applicable cut-off time described above or who fails to make a selection by the advertised cut-off time (which will be 3 hours before the scheduled kick-off of the match chosen as the Bonus Leg), will be automatically allocated a 1-1 draw in the relevant match, or (in pools which are based on points margins) a win for the home team by the smallest winning margin typically offered on the relevant Win Pool coupon.
5.6 Where Colossus Bets owns (or part-owns) a ticket having acquired it through the cash-out mechanism described below and such a ticket contains a Win Pool winning Line, Colossus Bets shall have the corresponding right to enter the Bonus Pool. In such circumstances Colossus Bets will nominate (and publish) its Bonus Leg selection 24 hours prior to the scheduled commencement of the relevant event. Where Colossus Bets owns all or part of more than one Win Pool winning ticket as described directly above, it shall have the right to make a Bonus Leg selection in respect of each such ticket.
5.7 Where you have cashed-out a portion of a Live Ticket, you will be entitled to make a Bonus Leg selection in the usual way, as described above, but your potential Bonus Pool dividend will be by reference to the portion of the original ticket you retain.
6.1 Colossus Bets may at any point during the Game Period offer Players the opportunity to cash-out the whole or a portion of a ticket which may still, potentially, contain a winning Line ("Live Ticket"). For Syndicate Tickets (described in more detail at clause 7 below) only the Syndicate Captain will have the ability to cash-out.
6.2 The availability of cash-out offers can never be guaranteed and during periods when typically cash-out offers would be available (after the conclusion of one Leg in a pool and before the commencement of the next Leg, at the end of the day’s play in a sport such as golf or tennis, or for some sports including soccer, during the half-time period in any given Leg), cash-out offers may be unavailable for technical, operational or any other reason.
Pricing a Live Ticket
6.3 In its offer to purchase a Live Ticket ("Offer") Colossus Bets shall provide to the Player an offer price to purchase any 10% increment of the Live Ticket up to 100% ("Offer Price").
6.4 The Offer Price shall be determined by Colossus Bets acting at its sole discretion.
6.5 Offer Process
A. The Player will be notified of an Offer via his/her Account.
B. Following receipt of an Offer, the Player shall have the period between the making of the Offer by Colossus Bets and the lapsing of the Offer to decide whether to ACCEPT the Offer (C) or REJECT the Offer (D). Colossus Bets reserves the right to revise or withdraw an Offer that has not been accepted. All Offers automatically lapse on commencement of the next period of live play.
C. If the Player accepts an Offer for 100% of a Live Ticket all rights in the Ticket will be assigned to Colossus Bets and the Offer Price shall be transferred into the Player's Account as soon as is reasonably practicable. See clause 6.7 below on selling a portion of a Live Ticket.
D. If the Player rejects an Offer (or takes no action in respect of the Offer) the Player will retain full ownership of the Live Ticket and accordingly retain his/her chance to win or share the relevant prize funds.
6.6 For the avoidance of doubt, once a Live Ticket is fully cashed-out you will no longer be able to win any amount in respect of that ticket. If any Bets on that ticket are ultimately successful, Colossus Bets will be entitled to the relevant Win Pool dividend (together with any Bonus Pool rights or Consolation Pool dividends) that you would have been entitled to had you not sold the Live Ticket.
Cashing-out a portion of a Live Ticket
6.7 Where a Player accepts an Offer from Colossus Bets to cash-out a portion ("Portion") of a Live Ticket rather than the full 100% of the Live Ticket, all rights in the Portion will be assigned to Colossus Bets and the Offer Price will be transferred into the Player's Account as soon as is reasonably practicable.
6.8 The Player shall retain ownership of the remainder of the Live Ticket and if the Live Ticket is successful the Player will be entitled to such percentage of the amount of the Win Pool (together with the same percentage of rights in the Bonus Pool or any Consolation Pools) applicable to his/her retained share of the Live Ticket.
Player A cashes-out a 20% Portion and subsequently a 30% Portion (so 50% in total) of a full unit Live Ticket. The Live Ticket is a correct prediction of the scores of all Legs in the Game Period, which proves to be a winning Bet for the purposes of the Win Pool. There is one other full unit Win Pool winning Bet in the Game (held by Player B).
The net Win Fund holds £1,000,000 and the net Bonus Fund holds £2,000,000.
Win Pool: £1,000,000 ÷ 2 (as 2 winners) = dividend of £500,000
50% of £500,000 (Player A's retained share in Live Ticket) = £250,000
Player A’s Win Fund share: £250,000
Bonus Pool: £2,000,000
Player A has the right to make a Bonus Leg selection to try to win a maximum of an additional £1,000,000, being 50% of the Bonus Fund. Player A selects the correct score in the Bonus Leg (and Player B selects an incorrect score).
Player A’s Bonus Fund share: £1,000,000
In the above example if Player B also selected the correct Bonus Leg score (and Colossus Bets chose an incorrect score) there would be 1.5 winning Bonus Pool units. This would mean that Player A, holding 0.5 winning Bonus Pool units (one third of the total winning units), would receive a Bonus Fund share of £666,666 (i.e. one third of the Bonus Fund). If Colossus Bets also chose the correct score, there would be 2 winning Bonus Leg Units, so Player A (with one quarter of the total winning units) would win £500,000.
6.9 Where an Offer which has been accepted by a Player (in full or in part) has been made by Colossus Bets based on erroneous information (for example based on a half-time score being 0-0 when the score is in fact 0-2) or as a result of a technical failure, Colossus Bets reserves the right to void any such Offer or to adjust the cash-out amount payable. Any such adjusted cash-out payment will be based on the accurate score/result at the time of the erroneous Offer being made and the consequent revised value of the relevant ticket at that time.
6.10 Where an Offer which has been accepted by a Player (in full or in part) has been made by Colossus Bets on the basis that all scheduled Legs in a pool will be completed (and therefore any guarantee and rollovers are factored into such an Offer), but all such Legs are not completed, Colossus Bets reserves the right to adjust the cash-out amount payable. Any such adjusted cash-out payment will be based on the revised value (given the amounts available to be won in the applicable pools and the revised likelihood of success) of the relevant ticket at the point the Offer was made.
6.11 Colossus Bets may at its discretion make an Offer for a Live Ticket which already contains a Win Pool winning Line and therefore has an entitlement to make a Bonus Leg selection. Any such offer for the right to make a Bonus Leg selection will not be made in the automated manner as described in the cash-out section of these Terms of Play, but will instead be made (and concluded) in a manual process as determined by Colossus Bets.
7.1 Colossus Bets may offer Players the ability to create tickets into its pools for other Players to fund, or to join tickets which have been created by other Players (“Syndicate Tickets”).
7.2 There may be a minimum and maximum funding requirement for a Player creating a Syndicate Ticket (the “Syndicate Captain” or “Syndicate Manager”) as well as for a player joining a Syndicate Ticket (a “Syndicate Player”).
7.3 To the extent that a cash-out offer is made by Colossus Bets on a Syndicate Ticket the Syndicate Captain will have sole control and discretion in relation to what portion (if any) of the Syndicate Ticket to cash-out. Syndicate Players will be able to see cash-out offers for Syndicate Tickets to which they have contributed within the ‘Tickets’ tab of the Site but they will not have the ability to cash-out any portion of a Syndicate Ticket.
7.4 A Syndicate Ticket will have the same rights as any other ticket in a Colossus Bets pool to qualify for and participate in the Bonus Pool (to the extent that the underlying pool includes a Bonus Leg component). The Syndicate Captain has sole control and discretion in relation to what selection to make in the Bonus Leg and/or whether to cash-out with Colossus Bets any offer for the right to make a Bonus Leg selection. Syndicate Players will not have any rights to make a Bonus Leg selection in relation to any portion of a Syndicate Ticket.
7.5 Until a Syndicate Ticket has been fully funded it will have a status of ‘pending’ and if it is not fully funded when the first fixture in the pools starts (and the pool closes for betting), the Syndicate Ticket will not be placed into the pool. Instead the ticket will lapse and refunds will be made to Players for their contributions to the ticket.
7.6 Notwithstanding clause 7.5 above, to the extent that a Syndicate Ticket is at least 90% funded at the close of betting in the relevant pool, Colossus Bets reserves the right to reduce the total cost of the ticket to the amount which has been funded at that point and to place the ticket into the pool.
The Syndicate Captain creates a Syndicate Ticket with a total cost of £100 and at the close of the pool the ticket has been funded by 9 Players for £10 each (so total funding of £90). In this case instead of lapsing the ticket Colossus Bets may convert the ticket to a total cost of £90 and place it into the relevant pool. This means that instead of each Player owning 10% of a £100 ticket, they own a bigger portion (11.11%) of a ‘smaller’ ticket (£90). Their individual contributions of £10 remain unchanged and any proceeds due from the ticket (dividends or cash-outs) will be the same as had the ticket been fully funded for £100.
7.7 A Syndicate Ticket may be funded by Players betting in different currencies. This means that the total spend on a ticket as viewed by Players may differ depending on the currencies of those Players’ Accounts. This also means that certain data which is converted to GBP values on the Site (including but not limited to Pool Units, Pool History, Unit Distributions and Winning Units) may be inconsistent with data which Players can see from a Syndicate Ticket.
The Syndicate Captain creates a Syndicate Ticket in GBP with 50 lines and per line cost of £2, so a total ticket cost of GBP £100. This Syndicate Ticket will be presented to Players whose Accounts are denominated in Euro as a ticket with a total cost of Euro €100. Assume that the currency exchange rate is GBP £0.90 = Euro €1 and that this Syndicate Ticket is fully funded through contributions of GBP £50 and Euro €50. The total spend for the ticket when converted to GBP is £95 (£50 funded in GBP + £45 funded in Euro). This means that the GBP spend per line of the placed ticket is £1.90 which is 0.95 of a full GBP unit for the purposes of Pool Units, Unit Distribution etc.
8. REFUNDS ON SPEND
8.1 Colossus Bets may refund to certain Players a percentage of their spend into our pools, either by way of cash or free bet credits. Such Players may include Syndicate Captains, those promoting Colossus pools via social media or similar, or other high-volume players. Separately Colossus Bets may pay a percentage of the spend of certain Players to other third parties, for example under our 'Refer a Friend' scheme or via affiliate arrangements we may have in place from time to time.
8.2 The terms under which any such Players in receipt of a refund on their spend (or on the spend of another Player) transact into Colossus Bets pools will otherwise be the same as any other Player in those pools. The contribution to the pool (and therefore the amount available to be won by any winners) from a Bet which has been subject to a refund is the same as the contribution to the pool of any other Bet.
9. FRAUD, HACKING, BONUS ABUSE AND PROMOTIONS
9.1 We reserve the right to suspend an Account and/or void Bets at any time if we believe there may be fraudulent, money laundering or rigging activity connected with the Account, a problem with the legality of wagering in the jurisdiction in which a Player is based, if the Player is suspected to be underage and/or the verification of his/her identity has not been completed. Similarly, if we have reason to believe the Site or a sporting event on which Bets may be offered has been manipulated or there are sports integrity issues associated with a Player’s Account, we reserve the right to void Bets and close the Player’s Account.
9.2 The software on the Site is to be used as presented. The Site should not be hacked into, altered or be compromised by users in any way. Any such behaviour will lead to the closure of an Account and may also lead to criminal investigations.
9.3 Colossus Bets will endeavour to credit Player Accounts with any free bets, bonuses or equivalent as soon as practicable from the point of the qualifying event, but in exceptional circumstances the crediting of an Account may take up to 3 working days from such point. Unless stated otherwise, any such offers in relation to an Account require a Player to deposit and make Bet(s) to the value of the offer before relevant credits are applied to the Account. Credits applied must be used to place Bet(s) and are not available for withdrawal and for any offers which apply a bonus based on the amount of a deposit, Players are required to play through both the deposit and the bonus before a withdrawal can be processed. Notwithstanding the provisions of clause 2.24 above if a bonus applied to your Account is not used within 3 months of its application Colossus Bets reserves the right to remove such bonus.
9.4 Where Colossus Bets suspects that the terms of any promotion or offer (or any provision within these Terms of Play) has been breached it reserves the right to reclaim the bonus element of such offers and/or void any free Bets funded by the bonus and any cash-out transaction made from the bonus. Colossus Bets further reserves the right to ask any Player to provide sufficient documentation for it to be satisfied in its absolute discretion as to the Player’s identity and age prior to crediting any bonus, free/subsidised Bet or offer to the relevant Account.
9.5 Colossus Bets reserves the right to exclude you and any of your ‘referred players’ from its ‘Refer a Friend’ scheme if it believes you have tried to benefit from the scheme by using more than one username or are otherwise engaged in activities that indicate that referrals are not made in good faith. For the avoidance of doubt the Refer a Friend scheme cannot be used in conjunction with any other Colossus Bets offers or promotions.
9.6 Please be aware that if you choose to access the Colossus Bets
platform via any third party user-interface we cannot provide any assurances
that all of the information provided to users of this Site will be
available to you.
10. INTELLECTUAL PROPERTY RIGHTS
10.1 Unless marked otherwise Colossus (Isle of Man) Ltd enjoys the commercial rights to exploit all intellectual property rights in the Site, and in the material published on it. Those works are protected by intellectual property laws and treaties around the world. All such rights are reserved.
10.2 You must not use any part of the materials on the Site for any commercial purposes without obtaining a licence to do so from us or our licensors.
10.3 You may print off and download extracts of any page(s) from the Site for your personal reference.
10.4 You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.
10.5 Our status (and that of any identified contributors) as the authors of material on the Site must always be acknowledged.
10.6 If you print off, copy or download any part of the Site in breach of these Terms of Play, we reserve the right to terminate your right to use the Site immediately. We also reserve the right to close your Account with immediate effect and if we do so you must, at our option, return or destroy any copies of the materials you have made.
11. SITE CHANGES
11.1 We aim to update the Site regularly, and may change the content at any time. In some cases this may involve suspending access to the Site in order to make such updates.
11.2 We may change these Terms of Play at any time. If we deem any such change to be material in nature, we will take reasonable steps to bring the change to your attention by email communication. By continuing to use the Site, you are deemed to accept any changes.
11.3 At any time, there may be specific terms and conditions that may apply to a particular pool we are operating. These terms will be made available on the Site.
12. OUR LIABILITY
12.1 The material and information displayed on the Site is provided without any guarantees, conditions or warranties as to its accuracy. To the extent permitted by law, Colossus Bets, other associated or related companies and third parties connected to us hereby expressly exclude all conditions, warranties and other terms which might otherwise be applied/implied by statute, common law or the law of equity; for:
12.1.1 any loss incurred in transmitting information to the Site;
12.1.2 any loss whatsoever arising from the use, abuse or misuse of your Account;
12.1.3 any technical failures, system breakdowns, defects, delays, interruptions, manipulated or improper data transmission, loss or corruption of data;
12.1.4 communications' lines failure (including any failures that affect the ability for interactive television return-path capabilities), distributed denial of service attacks, viruses or any other adverse technological consequence of your choosing to use our products and services;
12.1.5 the accuracy of any information services provided (including, without limitation, scorers, selections, times, results or general statistics) or any live scores, statistics and intermediate results shown on our Site (or on a third party site to which a link is provided on the Site);
12.1.6 any failure on our part to observe any self-exclusion or monetary limits that you have put in place from time to time;
12.1.7 any liability for any direct, indirect or consequential loss or damage incurred by any user in connection with the Site or in connection with the use, inability to use, or results of the use of the Site, any websites linked to it and any materials posted on it, including, without limitation any liability for:
(a) loss of income or revenue;
(b) loss of business;
(c) loss of profits or contracts;
(d) loss of anticipated savings or anticipated winnings;
(e) loss of data;
(f) loss of goodwill; and
(h) any other loss or damage of any kind, however arising and whether caused by tort (including negligence), breach of contract or otherwise, even if foreseeable.
12.1.8 Where the Site contains links to third party websites and resources, these links are provided for your information only. Colossus Bets has no control over the content of these websites or resources, and accepts no liability for them or for any loss or damage that may arise from your use of them. The inclusion of a link to a third party website does not constitute an endorsement of that third party’s website, product or services.
12.2 Nothing in these Terms of Play affects our liability for death or personal injury arising from our negligence, nor our liability for fraudulent misrepresentation or misrepresentation as to a fundamental matter, nor any other liability which cannot be excluded or limited under applicable law. Your statutory rights remain unaffected and we shall use reasonable care when providing you services pursuant to these Terms of Play.
12.3 Subject to section 10.2 above and other than in relation to the payment of winnings lawfully won, Colossus Bets shall have no liability to any Player pursuant to these Terms of Play in excess of:
12.3.1 in the case of any liability which relates to a specific Bet, the amount of the stake wagered;
12.3.2 in the case of any other matter, ten thousand pounds (£10,000).
13. DISPUTES AND COMPLAINTS
13.1 Any Player wishing to make a complaint or who has a dispute should email firstname.lastname@example.org (or call our Customer Service team using one of the telephone numbers provided on the Site) stating the details of your complaint. If having dealt with our Customer Service team you are not satisfied, you can ask for the matter to be escalated to our Management team. They will re-examine your query and seek to resolve it as soon as is reasonably possible.
13.2 Should you still be dissatisfied with the outcome, and should the matter relate to a betting dispute, you are entitled to contact the Independent Betting Adjudication Service (IBAS). Full details of what IBAS can offer in these circumstances can be found at the IBAS website: www.ibas-uk.com. Please note that IBAS will require that you to have first sought to resolve your dispute directly with us, before contacting them. Alternatively EU Residents may seek resolution of a dispute via the European Commission's platform for the resolution of online disputes, the website for which is: https://webgate.ec.europa.eu/odr
13.3 Players who have a complaint about the manner in which we have conducted any aspect of our business, but which does not relate to a betting dispute, may also contact our regulator, the UK Gambling Commission: www.gamblingcomission.gov.uk.
14. FORCE MAJEURE
14.1 We shall not be in breach of these Terms of Play nor liable for a delay in performing, or failure to perform, any of our obligations under these Terms of Play if such delay or failure results from events, circumstances or causes beyond our reasonable control.
14.2 Please be aware that if you place a Bet with the intention of subsequently making a ‘cash-out’ to reduce the liability incurred by the Bet there can never be a guarantee that the Site (or the availability of any cash-out offer) will be available at the point you wish to make the cash-out transaction.
Our failure or delay in enforcing or partially enforcing any term of these Terms of Play shall not be interpreted as a waiver of any of our rights or remedies. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that or any other right or remedy.
If any provision of these Terms of Play is held by any competent authority to be invalid, void, voidable, unenforceable or unreasonable in whole or in part, the validity of the other provisions of these Terms of Play and the remainder of the provision in question shall continue in full force and effect.
We may at any time assign or transfer any or all of our rights and obligations under these Terms of Play. We may also subcontract or delegate in any manner any or all of our obligations under this agreement to any third party or agent.
18. RIGHT OF SET OFF
We may at any time, without notice to you set off any liability owed to us by you, including (without limitation) in relation to any other Colossus Bets account in your name or which we believe to be under your control, against any funds held in another Colossus Bets account in your name or which we believe to be under your control.
19. ENGLISH LANGUAGE VERSION
To the extent that these Terms of Play are provided any in language other than English, this will be for reference only. In the event of any differences between the English version of these Terms of Play and any non-English versions, the English language version shall prevail.
20. ENTIRE AGREEMENT
These Terms of Play supersede all prior agreements and represent the entire agreement between you and Colossus Bets. Nothing in these Terms of Play shall operate or be interpreted to limit or exclude either party's liability or remedies for any fraudulent misrepresentation.
21. GOVERNING LAW
21.1 These Terms of Play and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of England and Wales.
21.2 The English courts will have exclusive jurisdiction over any claim arising from, or related to, a visit to the Site or any Bet made using the Site.
Date of last amendment 2 February 2017