olybet Terms & Conditions

1. Definitions and Interpretation

In these Terms & Conditions, unless the context requires otherwise:

• "olybet", "we", "us", and "our" refer to olybet Philippines, a PAGCOR-licensed gaming operator registered under License No. PH-2019-OC-00347.
• "User", "you", and "your" refer to any individual who registers for, accesses, or uses the olybet platform.
• "Account" means the unique user profile created when you register with olybet, containing your personal information, transaction history, and betting records.
• "Platform" means the olybet website accessible at https://olybet.cam, as well as any associated mobile applications, APIs, and affiliated services.
• "Services" means all gaming, betting, and ancillary services provided by olybet, including but not limited to sports betting, casino games, live dealer games, slot machines, and bingo.
• "Deposit" means any transfer of funds from your payment method to your olybet Account balance.
• "Withdrawal" means any transfer of funds from your olybet Account balance to your designated payment method.
• "Bonus" means any promotional credit, free bet, or reward issued by olybet, subject to specific wagering requirements and terms.
• "PAGCOR" means the Philippine Amusement and Gaming Corporation, the regulatory authority governing all legal gaming operations in the Philippines.

2. Eligibility and Account Registration

2.1 Age and Legal Capacity

You represent and warrant that:

• You are at least 21 years of age as of the date of registration.
• You possess the legal capacity to enter into binding contracts under Philippine law.
• You are not prohibited by law from participating in online gaming activities.
• You are acting on your own behalf and not as an agent or representative of any third party.

olybet reserves the right to request proof of age and identity at any time. Failure to provide satisfactory documentation within 7 days of request will result in account suspension and forfeiture of all funds.

2.2 Account Registration Process

To register an olybet Account, you must:

1. Provide accurate and complete personal information, including legal name, date of birth, residential address, email address, and mobile phone number.
2. Create a unique username and secure password meeting our minimum security requirements (minimum 8 characters, including uppercase, lowercase, and numeric characters).
3. Verify your email address and mobile phone number via one-time verification codes.
4. Accept these Terms & Conditions and our Privacy Policy.
5. Confirm you are not a politically exposed person (PEP) or subject to any sanctions lists.

2.3 Prohibited Accounts

The following individuals and entities are prohibited from registering or maintaining olybet Accounts:

• Persons under 21 years of age.
• Employees, contractors, or affiliates of olybet or its service providers.
• Professional gamblers or persons with insider knowledge of sporting events.
• Individuals who have previously been excluded or self-excluded from gaming activities.
• Persons acting on behalf of syndicates, betting rings, or other organized groups.
• Residents of jurisdictions where online gaming is prohibited.

2.4 One Account Per Person

You may register only one Account with olybet. Duplicate accounts will be closed immediately upon detection, and all balances and bonuses forfeited. If you forget your login credentials, use the password recovery function rather than creating a new account.

3. Deposits, Withdrawals, and Payment Processing

3.1 Accepted Payment Methods

olybet accepts deposits via the following methods:

• GCash e-wallet transfers
• PayMaya e-wallet transfers
• Direct bank transfers (BPI, BDO, Metrobank, UnionBank, Security Bank, and others)
• Over-the-counter cash deposits at 7-Eleven, Cebuana Lhuillier, and M Lhuillier
• Cryptocurrency (Bitcoin, Ethereum, USDT)

Minimum deposit amounts vary by method but typically range from ₱100 to ₱500. Maximum deposit limits are set at ₱500,000 per transaction for non-VIP accounts.

3.2 Deposit Processing Times

Deposits are credited to your Account balance as follows:

• GCash / PayMaya: Instant to 5 minutes
• Bank transfers: 15 minutes to 2 hours during banking hours
• Over-the-counter cash: 30 minutes to 4 hours
• Cryptocurrency: 3 to 6 blockchain confirmations (typically 15-60 minutes)

3.3 Withdrawal Policy

You may withdraw funds from your Account balance at any time, subject to the following conditions:

• All withdrawal requests must be made via the same payment method used for deposit, unless that method does not support withdrawals.
• First-time withdrawals require completion of Know Your Customer (KYC) verification, including submission of government-issued photo ID and proof of address.
• Withdrawal requests are processed within 24 hours on business days, with funds arriving within 24-48 hours depending on payment method.
• Minimum withdrawal amount is ₱500; maximum withdrawal per transaction is ₱1,000,000 for standard accounts.
• olybet reserves the right to request additional verification documents for withdrawals exceeding ₱100,000.

3.4 Anti-Money Laundering (AML) Compliance

In accordance with Philippine Anti-Money Laundering Act (AMLA) requirements and PAGCOR regulations, olybet implements the following measures:

• All deposits must be wagered at least once before withdrawal (1x rollover requirement) to prevent olybet from being used as a money transfer service.
• Unusual transaction patterns, structuring, or other suspicious activity will be reported to the Anti-Money Laundering Council (AMLC).
• Accounts flagged for AML concerns will be frozen pending investigation, and funds may be held for up to 90 days.
• We conduct ongoing transaction monitoring and periodic account reviews for high-value users.

4. Betting Rules and Game Terms

4.1 General Betting Principles

All bets placed on olybet are subject to the following rules:

• Bets are final once confirmed and cannot be canceled, modified, or reversed except in cases of obvious error or technical malfunction.
• olybet reserves the right to refuse, limit, or void any bet at our sole discretion, particularly if we suspect fraud, collusion, or other rule violations.
• Minimum and maximum bet limits vary by game type, market, and user account status (standard vs. VIP).
• Winnings are calculated based on odds displayed at the time of bet placement, not at the time of event conclusion.
• In the event of a tie or draw where no tie option was offered, bets are void and stakes returned.

4.2 Sports Betting Specific Rules

For sports betting markets:

• All bets are settled based on official results as determined by the governing sports body (e.g., PBA, FIBA, FIFA).
• If a match is postponed, bets remain valid for 48 hours. If the match is not completed within 48 hours, all bets are void unless otherwise stated in specific market rules.
• For live in-play betting, odds are updated in real-time based on match events. Bet acceptance may be delayed by 3-7 seconds to prevent arbitrage.
• Settlement of disputed or controversial outcomes will follow official league decisions, even if subsequently overturned by appeal.

4.3 Casino and Slot Game Rules

For casino games and slots:

• All games use certified Random Number Generators (RNGs) audited by independent testing laboratories.
• Return to Player (RTP) percentages are displayed on each game's information page and typically range from 94% to 98%.
• Maximum win per spin is capped at ₱10,000,000 unless otherwise specified in the game rules.
• In the event of software malfunction or disconnection during gameplay, the game state is preserved and can be resumed within 24 hours.

4.4 Bonus Terms and Wagering Requirements

All bonuses issued by olybet are subject to wagering requirements before withdrawal:

• Standard bonus wagering requirement is 30x the bonus amount (e.g., ₱1,000 bonus requires ₱30,000 in total wagers before withdrawal).
• Not all games contribute equally to wagering requirements. Slots contribute 100%, table games contribute 10-20%, and sports bets contribute based on odds (minimum 1.50 decimal).
• Bonuses expire 30 days after issuance if wagering requirements are not met.
• Only one bonus can be active per account at any time. Accepting a new bonus forfeits any uncompleted previous bonus.
• Bonus abuse, including creating multiple accounts to claim welcome offers, will result in immediate account termination and forfeiture of all funds.

5. Prohibited Activities and Account Termination

5.1 Prohibited Conduct

The following activities are strictly prohibited and may result in immediate account suspension or termination:

• Using bots, automated software, or third-party tools to place bets or manipulate gameplay.
• Exploiting software bugs, glitches, or errors for personal gain.
• Collusion with other players to manipulate outcomes or share insider information.
• Engaging in fraudulent chargebacks or payment disputes after losing bets.
• Providing false or misleading information during registration or verification.
• Sharing account credentials with third parties or allowing others to use your account.
• Harassing or threatening olybet staff or other users.
• Attempting to reverse-engineer, decompile, or hack any part of the olybet platform.

5.2 Termination Rights

olybet reserves the right to suspend or terminate your Account at any time for:

• Violation of these Terms & Conditions or any specific game rules.
• Suspected fraud, money laundering, or other illegal activity.
• Failure to complete KYC verification within requested timeframes.
• Extended periods of account inactivity (180+ days with no login or transactions).
• Regulatory or legal requirements mandating closure.

Upon termination, all pending bets will be settled according to their respective rules, and remaining account balances (excluding forfeited bonuses) will be returned to you within 30 days via your registered payment method.

6. Limitation of Liability and Disclaimers

6.1 Service Availability

While olybet strives to provide uninterrupted service, we do not guarantee 24/7 availability. Planned maintenance windows are announced in advance via email and website notice. Unplanned outages due to technical issues, cyberattacks, or force majeure events are addressed as quickly as possible but may result in temporary service disruption.

6.2 No Warranty

olybet Services are provided "as is" and "as available" without warranties of any kind, whether express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, or non-infringement. We do not warrant that the Platform will be error-free, secure, or free from viruses or other harmful components.

6.3 Limitation of Liability

To the maximum extent permitted by Philippine law, olybet shall not be liable for:

• Any indirect, incidental, consequential, or punitive damages arising from your use of the Platform.
• Loss of profits, revenue, data, or business opportunities resulting from service interruptions or account termination.
• Damages resulting from your failure to safeguard your account credentials or from unauthorized account access.
• Errors in odds, results, or payout calculations that are promptly corrected upon discovery.

Our total liability to you for any claim arising from your use of olybet Services shall not exceed the amount deposited into your Account during the 90 days preceding the claim.

7. Dispute Resolution and Governing Law

7.1 Internal Complaint Process

If you have a dispute or complaint regarding olybet Services:

1. Contact our customer support team via live chat or email with full details of your concern.
2. We will acknowledge your complaint within 24 hours and provide a response within 7 business days.
3. If you are unsatisfied with our response, you may escalate the matter to our Compliance Officer, who will conduct an independent review within 14 days.

7.2 PAGCOR Arbitration

If you remain unsatisfied after exhausting our internal complaint process, you may file a formal complaint with PAGCOR's Licensing and Compliance Division. PAGCOR's decision in such matters is final and binding on both parties.

7.3 Governing Law and Jurisdiction

These Terms & Conditions are governed by and construed in accordance with the laws of the Republic of the Philippines. Any disputes arising from or relating to these Terms shall be subject to the exclusive jurisdiction of the courts of Metro Manila, Philippines.

8. Intellectual Property

All content on the olybet Platform, including but not limited to logos, trademarks, graphics, text, software, and game designs, is the property of olybet or its licensors and is protected by Philippine and international intellectual property laws. You may not reproduce, distribute, modify, or create derivative works from any Platform content without our express written permission.

9. Privacy and Data Protection

Your use of olybet Services is also governed by our Privacy Policy, which describes how we collect, use, and protect your personal information in compliance with the Data Privacy Act of 2012 (Republic Act No. 10173). By accepting these Terms & Conditions, you also consent to our data practices as described in the Privacy Policy.

10. Amendments and Updates

olybet reserves the right to modify these Terms & Conditions at any time. Material changes will be communicated via email to your registered address and displayed prominently on the Platform at least 30 days prior to implementation. Continued use of olybet Services after such changes constitutes acceptance of the updated Terms. If you do not agree to the amended Terms, you must close your Account before the effective date of the changes.

11. Responsible Gaming

olybet is committed to promoting responsible gaming and preventing problem gambling. We provide the following tools and resources:

• Deposit limits: Set daily, weekly, or monthly deposit caps.
• Loss limits: Restrict total losses over specified time periods.
• Session time reminders: Receive alerts after extended gaming sessions.
• Self-exclusion: Voluntarily close your account for a minimum of 6 months.
• Reality checks: Mandatory prompts every 90 minutes during continuous gameplay.

For additional support with problem gambling, please contact PAGCOR's Responsible Gaming Hotline or visit their official website for referrals to counseling services.

12. Contact Information

If you have questions about these Terms & Conditions, please contact us:

olybet Philippines Customer Support
Email: [email protected]
Live Chat: Available 24/7 via the Platform
Office Address: Metro Manila, Philippines