Terms of Use

This agreement is between you and the service operator, betbox. By using any services made available through the betbox website (betbox), API (betbox api) or Betbox affiliates, you agree that you have read, understood and accepted all of the terms and conditions contained in this Terms of Use agreement, as well as our Privacy Policy and Consent Form which have incorporated the GDPR regulation. As this is a legally binding contract, please carefully read through this agreement and related notices before using any of our Services. By registering, accessing or using Betbox, you have agreed to the terms and conditions as laid out in this User Agreement. Should you disagree to this User Agreement, please proceed to initiate the account lock function (for existing users) and stop the usage of Betbox and any of its services.

If you have questions regarding this agreement, please feel free to contact Betbox for clarification via our Customer Support team.

Agreement Conditions

Betbox reserves the right to modify or change the terms and conditions of the agreement at any time and at its sole discretion. Betbox will provide notice of these changes by updating the revised Terms of Use on the webpage and changing the “[Last revised: ]” date on this page. Any and all modifications or changes to the Terms of Use will be effective immediately upon being announced on the website or re-leased to users. As such, your continued use of Betbox’s services acts as acceptance of the amended agreement and rules.

Eligibility

By registering to use a Betbox Account, you have affirmed that you are at least 18 years old and are an individual, legal person or other organization with full legal capacity to enter into this User Agreement be-tween you and Betbox. If you are not, you and your guardian shall undertake all consequences resulting from your actions and Betbox shall have the right to cancel or freeze your account in addition to filing claims against you and your guardian for compensation.

Prohibition of use

By accessing and using Betbox and any of its services, you acknowledge and declare that you are not on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List and its equivalent. Betbox maintains the right to select its markets and jurisdictions to operate and may restrict or deny its services to certain countries. The content of this Agreement shall not be excluded from the laws of the country under which the user belongs. Betbox maintains its stance that prohibited users are not to use or access Betbox and any of its services.

Description of services

Betbox provides an online decentralized betting platform (crypto to crypto) for products commonly known as cryptographic tokens, digital tokens or cryptographic currency. Betbox does not provide fiat trading capabilities on its platform and as such is not subjected to the stringent regulations that come with it. Bet-box functions as a BaaS provider and is not a participant in the ecosystem. Betbox is also not a market maker. Users must register and open an account with Betbox and deposit digital assets prior to com-mencement of betting. Traders may request the withdrawal of their digital assets, subject to the limita-tions as stated in the Terms and Conditions.


Betbox strives to maintain the accuracy of information posted on its website however it cannot guarantee the accuracy, suitability, reliability, completeness, performance or fitness for purpose of the content through the website, and will not accept liability for any loss or damage that may arise directly or indi-rectly from the content. Information on Betbox website can be subjected to change without notice and is provided for the primary purpose of facilitating users to arrive at independent decisions. Betbox does not provide investment or advisory advice and will have no liability for the use or interpretation of information as stated in its website or other communication mediums. All users of Betbox must understand that there are risks involved in betting. Betbox encourages all users to exercise prudence and bet responsibly within their own means.


While Betbox emphasises platform security to ensure the continuity and security of its services (an-nouncements will be made in event of downtime/maintenance), it will be non-accountable to Act of God, malicious targeted hacking, terrorist attacks and other unforeseen circumstances. Betbox will not ask for any password from its users nor ask users to transfer funds that are not listed on its betting platform. Us-ers are encouraged to exercise prudence in dealing with discounts or promotions that could lead to them getting scammed. While the list is non-exhaustive, you agree that Betbox will not be held responsible for any losses arising from the situations stated above.


By using Betbox and any of its services, you declare that all information to Betbox in connection with these Terms are true, accurate and complete.

Registration

All users must register for a Betbox Account before using the site. To register for an account, you must provide your real name, email address and password, as well as accept the Terms of Use, Privacy Policy and Consent Form. Depending on certain conditions and in our sole discretion, we may refuse to open an account for you.

User Identity Verification

With registration of an account on Betbox, you agree to share personal information requested for the pur-poses of identity verification. This information is used specifically for the detection of money laundering, terrorist financing, fraud and other financial crimes on the Betbox platform. In addition to providing this information, to facilitate compliance with global industry standards for data retention, you agree to permit us to keep a record of such information for the lifetime of your account plus 5 years beyond account clos-ing. You also authorise us to make inquiries, either directly or through third parties, that are deemed nec-essary to verify your identity or to protect you and/or us against financial crimes such as fraud.


The Identity Verification information we request may include, but is not limited to, your: Name, Email Ad-dress, Contact Information, Telephone Number, Username, Government Issued ID. In providing this re-quired information, you confirm that it is accurate and authentic. Post-registration, you must guarantee that the information is truthful, complete and updated in a timely manner with any changes. If there is any reasonable doubt that any information provided by you is wrong, untruthful, outdated or incomplete, Bet-box shall have the right to send you a notice to demand corrections, remove relevant information directly and, as the case may be, terminate all or part of Betbox Service to you. You shall be solely and fully re-sponsible for any loss or expenses incurred during the use of Betbox Service if you cannot be reached through the contact information provided. You hereby acknowledge and agree that you have the obliga-tion to keep all information provided up to date if there are any changes.

Account Usage Requirements

Betbox accounts can only be used by the person whose name they are registered under. Betbox re-serves the right to suspend, freeze or cancel accounts that are used by persons other than the persons whose names they are registered under. Accordingly, Betbox will not take legal responsibility for these accounts.

Account Security

Betbox prioritizes maintaining the safety of those user funds entrusted to us and has implemented indus-try standard protections for our platform. With that said, there are account-level risks that are created by individual user actions. We request that you understand the need to independently take safety precau-tions to protect your own account and personal information.


You shall be solely responsible for the safekeeping of your Betbox account and password on your own, and you shall be responsible for all activities under your log-in email, Betbox account and password (in-cluding but not limited to information disclosure, information posting, consent to or submission of various rules and agreements by clicking on the website, online renewal of agreement, etc.).


You hereby agree that: (a) you will notify Betbox immediately if you are aware of any unauthorized use of your Betbox account and password by any person or any other violations to the security rules; (b) you will strictly observe the security, authentication, dealing, charging, withdrawal mechanism or pro-cedures of the website/service; and (c) you will log out from the website by taking proper steps at the end of every visit.


Betbox will not be responsible for any loss or consequences caused by your failure to comply with the above Account Security provision.

Dispute Resolution

Betbox reserves the right to resolve issues and disputes at its sole discretion. Some issues include in-fringement of others’ rights, violation of laws and regulations, abnormal trades and others not explicitly mentioned in the Terms. Users agree to bear the costs arising from the process of dispute resolution.

Guidelines for usage of services on Betbox

You hereby agree to observe the following covenants during your use of services on Betbox:

  • All the activities that you carry out during the use of Betbox Service will be in compliance with the requirements of applicable laws, regulations, as well as the various guidelines of Betbox,
  • will not be in violation of public interests, public ethics or other’s legitimate interests,
  • will not constitute evasion of payable taxes or fees and will not violate this agreement or relevant rules.

If you violate the foregoing promises and thereby cause any legal consequence, you shall independently undertake all of the legal liabilities in your own name and indemnify Betbox from all actions, claims, or costs arising from such violation. You will not use any data or information displayed on the site for com-mercial purposes without the prior written consent of Betbox. You will use the site in accordance with the Terms of Use and Privacy Policy, without taking acts of unfair competition nor attempting to interve with the normal operation of Betbox. Examples of such malicious acts include, but are not limited to

  • using a device, software or subroutine to interfere with the site
  • overloading network equipments with unreasonable data loading requests
  • executing malicious sales or purchases on the market

By accessing the Betbox Service, you agree that Betbox shall have the right to unilaterally determine whether you have violated any of the above covenants and take actions to apply relevant rules without receiving your consent or giving prior notice to you. Examples of such actions include, but are not limited to

  • block and close order requests
  • ofreezing your account
  • reporting the incident to authorities
  • publishing the alleged violations and actions that have been taken
  • deleting any information you published that is in violation

If your alleged violation causes any losses to a third party, you shall solely undertake all the legal liabili-ties in your own name and hold Betbox harmless from any loss, fine or extra expenses. If, due to any al-leged violation Betbox incurs any losses, is claimed by any third party for compensation or suffers any punishment imposed by any administrative authorities, you shall indemnify Betbox against any losses and expense caused thereby, including reasonable attorney’s fee.

Service fees

Betbox reserves the rights to levy service fees on users who use its services. It is in the discretion of Bet-box to adjust the service fees charged to users using its services.

Liability

Provision of Service

Betbox will provide Betbox Service at an “as is” and “commercially available” condition, and does not of-fer any form of warranty with regards to the Service’s reliability, stability, accuracy and completeness of the technology involved. Betbox serves merely as a venue of transactions where coin-related information can be acquired and coin-related transactions can be conducted. You must carefully consider the associ-ated investment risks, legal status and validity of the transaction information and investment decisions prior to your use of the Betbox Services provided.

Limitation of Liability

You acknowledge and agree, Betbox shall not be liable for any of your losses caused by any of the fol-lowing events, including but not limited to:

  • Losses of profits, goodwill, usage or data or any other intangible losses
  • Use or failure to use Betbox Service
  • Unauthorized use of your account or unauthorized alteration of your data by third parties
  • Your misunderstanding of Betbox Service
  • Any other losses related to Betbox Service which are not directly attributable to Betbox

In no event shall Betbox be liable for any failure or delay of service resulting from regular network mainte-nance or external factors such as power failure, natural disaster, service provider-side problems or gov-ernmental acts.

Indemnification

You agree to indemnify and hold harmless Betbox, its affiliates, contractors, licensors, and their respec-tive directors, officers, employees and agents from and against any claims and damages (including attor-neys’ fees, fines or penalties imposed by any regulatory authority) arising out of your breach or our en-forcement of this Agreement. This shall also apply to your violation of any applicable law, regulation, or rights of any third party during your use of the Betbox Service.

Announcements

Please be aware that all official announcements, news, promotions, competitions and airdrops will be listed in public. Betbox will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements.

Termination of Agreement

You agree that we have the right to immediately suspend your account (and any accounts beneficially owned by related entities or affiliates), freeze or lock the funds in all such accounts, and suspend your access to Betbox if we suspect any such accounts to be in violation of the Terms of Service, Privacy Pol-icy, AML/CTF acts or any applicable laws & regulations. Betbox shall have the right to keep and use the transaction data or other information related to such accounts. The above account controls may also be applied in the following cases:

  • The account is subject to a governmental proceeding, criminal investigation or other pending litiga-tion
  • We detect unusual activity in the account
  • We detect unauthorized access to the account
  • We are required to do so by a court order or command by a regulatory/government authority

In case of any of the following events, Betbox shall have the right to directly terminate this agreement by cancelling your account, and shall have the right to permanently freeze (cancel) the authorizations of your account on Betbox and withdraw the corresponding Betbox account thereof:

  • after Betbox terminates services to you,
  • you allegedly register or register in any other person’s name as Betbox user again, directly or indi-rectly;
  • the main content of user’s information that you have provided is untruthful, inaccurate, outdated or incomplete;
  • when this agreement (including the rules) is amended, you expressly state and notify Betbox of your unwillingness to accept the amended service agreement;
  • any other circumstances where Betbox deems it should terminate the services

Should the account be terminated, the account & transactional information required for meeting data re-tention standards will be securely stored for five years. In addition, if a transaction is unfinished during the account termination process, Betbox shall have the right to notify your counterparty of the situation at that time.

Remaining funds after account termination (normal)

Once the account is closed/withdrawn, all remaining balance (which includes charges and liabilities owed to Betbox) on the account will be payable at once to Betbox. Upon payment of all outstanding charges to Betbox (if any), the user will have 5 working days to withdraw all funds from the account.

Remaining funds after account termination (fraud/AML/violation of terms)

Betbox maintains full custody of the funds and user data/information which may be turned over to the au-thorities in event of account suspension/closure arising from fraud investigations, AML investigations or violation of Betbox’s Terms (eg. trading on Betbox from a sanctioned country).

Compliance with local laws

It is the responsibility of the user to abide by local laws in relation to the legal usage of Betbox in their lo-cal jurisdiction. Users must also factor, to the extent of their local law all aspects of taxation, the withhold-ing, collection, reporting and remittance to their appropriate tax authorities. All users of Betbox and any of its services acknowledge and declare that the source of their funds come from a legitimate manner and are not derived from illegal activities. Betbox maintains a stance of cooperation with law enforcement au-thorities globally and will not hesitate to seize, freeze, terminate the account and funds of users which are flagged out or investigated by legal mandate.

Privacy Policy

Betbox may announce and amend its privacy policy on the platform of Betbox from time to time and the privacy policy shall be an integral part of this Usage Agreement. The latest version of the Privacy Policy which has included the GDPR can always be found here on this page (cookie policy).

Indemnity and disclaimer

You agree to indemnify Betbox and its entirety of affiliates and hold them harmless from and against all third party claims except from Betbox’s breach of these Terms. As mentioned in description of services, Betbox strives its best to maintain the data integrity on its site but does not guarantee the information and services provided in its platform. Betbox will not be liable for errors arising from the use of its services.

Complaints

If you have any complaints, feedback or questions, kindly contact hello@betbox.app and we will in our best efforts try to resolve it for you.