1. Account rules
1.1 Any account holder applying for an account must be at least 21 years old. There may be some jurisdictions in which the minimum legal age for participation in gambling activities is 18. It is solely your responsibility to comply with such requirements in your jurisdiction.
1.2 Persons who are residents of; or persons who are located in countries where betting with SBK is prohibited (including, but not necessarily limited to Australia, France, Hong Kong, Switzerland, China, South Africa, Denmark, Czech Republic, Belgium, Turkey, Italy, Portugal, Russia, Belarus, Ukraine and Kazakhstan); cannot register as account holders with SBK. United States residents can register an account with SBK, even if they are not currently located in Colorado. However, only customers physically located in Colorado will be allowed to place bets. Smarkets may refuse access to its services from any particular jurisdiction at any time.
1.3 SBK account holders agree to abide by these terms and conditions at all times:
- Not acting in the interests of any third party.
- Not utilising funds originating from any criminal or illegal activity or activities.
- Not utilising bank accounts, debit cards, credit cards they are not authorised to use.
- Not going to attempt to gain unauthorised access to the website or alter its software in any way.
- Not going to take part in or organise any criminal actions against SBK, its affiliates, and its account holders
1.4 You are prohibited from selling, transferring and/or acquiring accounts for or from other account holders.
1.5 You must not collude with other players or in any way distort normal game play.
1.6 In the event that you breach any provision in these terms and conditions, SBK reserves the right to close your account and may confiscate any available funds. In certain cases, where required by law, such funds shall be forfeited to the state or federal government.
1.7 It is your responsibility to verify that when opening an account and conducting business with SBK, you are not breaching any applicable laws in your jurisdiction.
1.8 You must submit the correct information during your registration. This information should include, but is not limited to; your full name as per your official identification documents, your full and current residential address, and/or email address as required. You also agree to update this information at the earliest and most reasonable opportunity should there be any changes to the personal data that you have provided.
1.9 You may only open and maintain one account, and you must open this account personally.
1.10 SBK may, at its own discretion and without having to provide any justification, refuse to open an account or close an existing account, including, but not limited to, when we have reasonable suspicion that multiple accounts are traced to the same address, IP address or mobile phone. We may also freeze any winnings on such accounts. Any existing contractual obligations will be honored, except in the cases where we suspect that the accounts are connected to underage gambling and/or involved in criminal acts, including but not limited to money laundering.
1.11 All accounts are opened in and all transactions are made in U.S. dollars.
1.12 Account holders shall not treat SBK as a financial institution. No interest is paid on any funds, irrespective of the amount, held in your account.
1.13 It will be your own responsibility to keep track of any winnings and report them to the proper authorities for taxation purposes.
1.14 During the registration process you will be able to choose your login email and password. You can change this password at any time.
1.15 You must keep your login credentials secret at all times, and you remain solely responsible for the security and confidentiality of your account.
1.16 If you use third-party applications to connect to SBK you are aware that this may not display full information about the account or betting activity.
1.17 If a bet is placed using your account, the bet will be considered to have been made by you and therefore once accepted by us, it shall be considered valid unless it contravenes any other term.
1.18 SBK retains the right to examine and confirm your identity. When deemed necessary, SBK will request that documentation proving your identity and residency is forwarded to its offices. Examples of documentation requested could be certified copies of photo identification cards, bank statements, references, last utility bill or photocopy of credit card. In the event that you do not provide us with sufficient identification information, in accordance with SBK internal procedures or those required by regulatory authorities, SBK may suspend the account and all account functionality, including, but not limited to, bet management and withdrawal of funds or close the account.
1.19 SBK retains the right to make any queries regarding the source of any funds deposited with SBK. Should you fail to provide satisfactory responses to our queries, SBK may suspend the account and all account functionality, including, but not limited to, bet management and withdrawal of funds or close the account. SBK may pass on such information, as it deems necessary to the relevant authorities.
1.20 You may close your account at any time by withdrawing all funds and emailing us.
1.21 Following termination, suspension or exclusion of your account, SBK will, in the normal course of business, return any funds in your account and again following the settlement of any open bets. We do, however, reserve the right to withhold the funds in your account from you pending the result of any investigation where:
- We suspect you have acted in breach of these Terms, including where we suspect the account has been linked with fraudulent or dishonest activity; and/or
- We have to withhold the funds in your account by law or to comply with any advice, request or instruction from any governmental, regulatory or enforcement authority.
Following the result of any such investigation we reserve the right to seize some or all of the funds in your account if we are satisfied that you have acted in breach of these Terms or any other relevant agreement on site, such as the betting rules.
1.22 SBK prohibits any betting by a person or persons identified by the regulator as Prohibited sports betting participant;
- Any person who is an athlete, coach, referee, player, in, or on, any sports event overseen by that person's sports governing body based on a list provided to SBK by that person’s sports governing body division.
- A person who holds a position of authority or influence sufficient to exert influence over the participants in a sporting contest, including, but not limited to, coaches, managers, handlers, or athletic trainers based on a list provided to SBK by that person’s sports governing body through the division;
- A person with access to certain types of exclusive information on any sports event overseen by that person's sports governing body based on publicly available information, or based on a list provided to SBK by that person’s sports governing body through the division.
2. Betting rules
Before placing a bet you should make yourself aware of both the general betting rules and the sport-specific rules for the relevant market. Please also note that betting rules can vary between operators in the industry.
2.1 A bet can only be placed by a registered account holder.
2.2 A bet can only be placed via the SBK app on a mobile phone.
2.3 You may only place a bet if you have sufficient funds in your SBK account.
2.4 Once settled, the bet will be governed by the version of Terms and Conditions and Betting Rules valid at the time the bet is accepted.
2.5 A bet is deemed to have been placed when confirmation of SBK’s acceptance of the bet is received on the account holder’s mobile device.
2.6 You declare that at the time you place a bet, you have no knowledge as to the outcome of the respective events. Bets on games in which you have gained access to insider information are not allowed. Where there is a suspicion of a violation of this rule, SBK retains the right to void the bet and refuse to pay out winnings. It also retains the right to take any further action to protect its legitimate interests and to comply with other laws and regulations.
2.7 You will be automatically deemed to have insider information if you are identified as a professional or collegiate athlete, team employee or owner, coach, manager, handler, athletic trainer, league official or employee, referee, umpire, sports agent, or employee of a player or referee union, as well as those within the same household of the above, and you place a wager on a sport in which you participate.
2.8 Bets placed after the outcome of an event has been determined may be voided at SBK’s sole discretion.
2.9 SBK retains the right to suspend any market and to cancel existing offers, if necessary.
2.10 A list of all the bets, their status and details are available to you on the SBK “Open Bets” tab.
2.11 Should betting on an event be stopped, you will be refunded the whole amount of your open bets.
2.12 Should SBK decide to close your account, bets which have already been placed will be honored and you will be paid any winnings on those bets.
2.13 All bets are matched based on percentage odds; any bets submitted in decimal, fractional or American odds formats are first rounded to the nearest 100th of a percent.
2.14 The conversion to percentage odds can result in rounding to the nearest penny for both wager stake and winnings paid to customers.
2.15 A mistake regarding the details of a bet placement will not influence the validity of the bet.
2.16 SBK reserves the right to void all bets on a market where incorrect information is displayed or where there is an error in the market or event.
2.17 When you place a bet, you acknowledge that you have read and understood in full all of the terms and conditions and game rules regarding the bets offered by SBK as stated in these Terms.
2.18 When placing a bet, you are aware that slower devices or internet speeds may hamper user experience and provide disadvantages when navigating the site and placing bets on SBK.
2.19 SBK manages your account, calculates the available funds, the pending funds, the betting funds as well as the amount of the winnings. Unless proved otherwise, these amounts are considered as final and are deemed to be accurate.
2.20 You must check that the stake and potential payout are correct before placing bets.
2.21 You are responsible for ensuring that any bet you place is on your intended selection. For example, in the case of two soccer teams playing each other in different competitions in quick succession you must ensure that you know you are placing the bet on the chosen event.
2.22 The odds listed for a particular bet may be subject to change depending on the size of the wager stake you wish to place.
2.23 You are fully responsible for the bets placed on SBK. SBK will never question you about the relevance of the bets you wish to place and will not be held responsible for mistakes that could have been made during the placing of such bets, including the stake amounts, odds or side of the bet.
2.24 Winnings will be paid into your account once the result of your wager is confirmed. However, SBK reserves the right to set aside any winnings should there be investigations into the result of an event caused by a suspicion of criminal activities that may have affected the result of the event. If the irregularity is confirmed, then SBK retains the right to void any related bets.
2.25 Should SBK become aware that you have placed a number of bets from different accounts you have irregularly opened, all bets will be voided. SBK retains the right to take further action as deemed necessary.
2.26 Our services are provided for legitimate betting purposes only. You agree not to bet on any market with the intention or the effect of adversely affecting its integrity. You also agree not to obstruct or hinder SBK’s business operations.
2.27 In the interest of preserving the integrity and fairness of the sportsbook, SBK retains the right to void bets we deem to be clearly erroneous. Please read our clearly erroneous bets policy.
2.28 Collusion, either through the use of the public chat facilities or by any other means, is forbidden.
2.29 You are forbidden from placing bets with the intention of transferring funds to another account.
2.30 It is your responsibility to keep records of your transactions.
2.31 You agree to inform us as soon as you encounter any errors in the SBK software.
3.1 SBK will strive to make your experience with us an enjoyable one. However, there may be occasions where you feel dissatisfied with the quality of our product or of our customer service. You may raise a complaint by addressing an email to our customer support. Your complaint will be escalated to management and we will endeavor to tackle it within ten (10) working days of receipt.
3.2 In the event that SBK is unable to resolve the dispute and there is a deadlock in place, customers can contact the Colorado Department of Revenue, Division of Gaming.
The contact details for the Colorado Department of Revenue, Division of Gaming are as follows:
Golden (Main Office)
17301 W. Colfax Ave.
Golden, CO 80401
phone: (303) 205-1300
fax: (303) 205-1342
Central City/Black Hawk
142 Lawrence St.
P.O. Box 721
Central City, CO 80427
phone: (303) 582-0529
fax: (303) 582-0535
350 West Carr Ave.
P.O. Box 1209
Cripple Creek, CO 80813
phone: (719) 689-3362
fax: (719) 689-3366
Customers may also contact the Division of Gaming via email: email@example.com
Version: 1.0 - Last modified: 24 April 2020