Opening Your account
2.1 To transact with Colossus Bets, you must open an Account and save for any free-to-play tokens or bonus amounts awarded to your Account, 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, you 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 an error, fraud or wrongdoing and such monies shall be deemed never to have been held on such trust for the Purpose. More details on the UK Gambling Commission’s rating system for the protection of client funds as referred to above can be found at the following link: http://www.gamblingcommission.gov.uk/for-the-public/Your-rights/Protection-of-customer-funds.aspx
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) it is likely that such a withdrawal can only be made to your bank account. In this case we will need to request proof of your bank account to support the transaction.
Account fees and chargebacks
2.15 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.
2.16 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. Please note that in order to withdraw via bank transfer you will need to provide a copy of a bank statement with your name and details visible to [email protected].
2.17 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.
2.18 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 provide you with advance notice that it is our intention to apply such debits to your Account should the behaviour on the Account continue as described.
2.19 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.
2.20 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 as well as charging you for the relevant amounts incurred.
Closing your account
2.21 You have the right to close your Account at any time. To close your Account you should contact our Customer Service team.
2.22 We may close or suspend your Account if we reasonably believe you are either in breach of these Terms of Play or are engaging in activity which 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.
2.23 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.