6th Floor, New Enterprise House
149-151 High Road
Chadwell Heath
Essex
RM6 6PJ.

The company does not accept bets, but provides members with a facility for the placing of bets with each other. In return for this service, we take a commission from each member's net winnings on an individual betting market, which is deducted directly from the member accounts.

The Company trades, as ibetX and 'ibetX' and the ibetX logo are registered trademarks of ibetX Limited. The Company is licensed by Gambling Commission Act 2005 as a betting intermediary. Within these Terms and Conditions references to 'we', 'us', 'our' and any similar expression shall be to include the Company ibetX Limited. This agreement is entered into between ibetX and it's members.

In accordance with the Terms and Conditions, all member funds are held by the Company in a separate, segregated account with Barclays Bank. The name of the account is ibetX Limited client account.

Agreement

1. By agreeing to these Terms and Conditions and/or by continued use of the Exchange, the member is bound by the entirety of this agreement and by our 'Rules and Regulations' and 'Privacy Policy' that are incorporated by reference into these Terms and Conditions. If there is an inconsistency between any document incorporated by reference and these Terms and Conditions, the latter shall prevail.
   
2. Upon making any significant changes to these Terms and Conditions, ibetX will take appropriate steps to bring such changes to its members' attention. E.g. By placing a notice of such change within the 'News' section on the website. The Company, at its sole discretion, may also email customers of any changes to the Terms and Conditions.
3. It is the responsibility of member to check these Terms and Conditions and the Privacy Policy from time to time to ensure they are in agreement with them and continued use of the Exchange will be deemed to be acceptance of any changes to the Terms and Conditions and privacy policy. Any bets matched prior to the time of amendment and notification of the changed Terms and Conditions will be subject to the pre-existing Terms and Conditions.

Your Representations

1. You are 18 years of age or over, capable of taking responsibility for your own actions and are of sound mind.
   
2. You are legally permitted to place an online wager from the jurisdiction you are in at the time the wager was placed.
   
3. It is legal in your jurisdiction to use this service.
   
4. It is your responsibility to ensure it is legal for you to use this service in accordance with the relevant jurisdiction.
   
5. You can enter into a legally binding agreement with the Company.
   
6. If you send money to the Company via a debit card or credit card, you are the authorized user of the card.
   
7. At any time in the past, you have never failed to pay, or attempted to fail to pay a liability on a bet placed by either a credit card or a debit card.
   
8. You have not and never have been declared bankrupt or in a voluntary arrangement with your creditors.
   
9. Unless you notified the Company to the contrary when registering your account, you are not a licensed bookmaker as defined by Section 55(1) of the Betting, Gaming and Lotteries Act 1963. If you are a bookmaker but do not hold a UK Bookmaker's Permit, you are not allowed to use this service in the course of your bookmaking business. It is your responsibility to seek the appropriate legal advice to determine whether or not your activities should be treated as that of a bookmaker.
   
10. You are acting as principle and not on behalf of another party.
    
11. By placing bets against other members, you understand that you may lose some or all of your money lodged with the Company.
    
12. You are solely responsible for all activity on your account including third party access to your account, regardless of whether or not their access was authorized by you. You therefore indemnify ibetX and do not hold ibetX responsible for any costs, claims, expenses and damages arising in connection with the use of or access to your account by any third party.
    
13. You will not attempt to use this service to deliberately transfer money from one ibetX account to another by attempting to match bets with another member through collusion.
    
14. You will use our services for legitimate betting purposes only; i.e. you will not attempt to manipulate any ibetX market in bad faith or in a manner that adversely affects the integrity of the company.
    
15. You will make sure that your username or any other information entered for registration purposes is not offensive.

Registration

1. The Company reserves the right, at its sole discretion, to refuse to accept a registration from any applicant, and the Company is not obliged to give a reason for doing so.
   
2. Before using the service, you must complete the registration form and agree to the Terms and Conditions. In order to start betting on ibetX, we will require you to become a verified member in accordance with our Member Verification Policy. Additionally, you need to fund your ibetX account.
   
3. You agree you will not deliberately provide false information while registering and you agree all information provided to the Company is accurate.
   
4. You will keep both registration and personal details up to date.
   
5. If you decide to transfer funds to the Company via a credit card or debit card, you must give the Company all relevant information such as billing address, exact name on card, card number and expire date. This information is securely encrypted and stored on the Company's servers. In addition information MUST be provided in accordance with our Member Verification Policy.
   
6. In order to ensure your credit worthiness and to confirm your identity, we reserve the right to use third party information providers.
   
7. You agree to keep both your username and password confidential and that you are responsible for any misuse of the username and password.
   
8. If you believe any of your account information is being misused by a third party, or your password has been discovered by a third party, you agree to immediately notify the Company by email or phone. The Company will immediately suspend your account once notified by you of such incident.
   
9. When registering, you will be required to choose the currency in which you will operate your account. This will be the currency of your deposits, withdrawals and bets placed and matched into the exchange

Privacy

1. The Company's privacy policy can be seen in it's entirety on the website. It is under "Privacy Policy".
   
2. Any information provided to the Company by you will be kept strictly confidential in accordance with the Company's Privacy Policy and will only be disclosed in accordance with the Data Protection Acts 1984 and 1998.
   
3. The Company will not reveal the identity of any person who places bets using the ibetX website unless the information is requested by applicable government, regulatory or enforcement agencies.

Account

1. The Company accepts accounts in Pounds Sterling, Euro Dollars, US Dollars, Hong Kong Dollars, Australian Dollars and Japanese Yen.
   
2. The Company does not give credit for use of the service.
   
3. The Company may, at its sole discretion, close or suspend an account and refund any monies held. The Company has no obligation to reveal any reason for doing so and does not need to give prior notice.
   
4. To place or accept an offer into the exchange, you must have sufficient funds to cover the potential liability of the offer. If you do not have enough funds to cover the liability, the offer will not get placed into the exchange. If, for any reason, an offer is placed or accepted into the exchange when there are not enough funds in your account to cover the potential liability, you will still be fully liable for any future liability accrued.
   
5. If the Company chooses to close or suspend your account, the Company, at its sole discretion, reserves the right to cancel any of your matched and unmatched bets. If you have a matched bet with another ibetX member who's account has been closed or suspended by the Company, you consent to our right to cancel any such matched bet.
   
6. Any amount that has been mistakenly credited to your account remains the property of the Company and when the Company has noticed such mistake, the amount will be withdrawn from your account. If the Company discovers the mistake, we will notify you of the mistake.
   
7. If, for any reason, your account goes overdrawn, you agree that you are in debt to the Company for the amount of the overdrawn. You consent to authorize the Company to deposit further funds into your account from either your UK debit card or credit card. The Company will attempt to notify before such action takes place.

Deposit of Funds

1. You may deposit funds into your account by credit card, direct bank transfer, money order, bank draft, cheque or via NETeller. All deposits should be made in the same currency as your ibetX account.
   
2. The Company accepts credit card payments by Visa and Mastercard.
   
3. There is no charge to deposit by credit card, cheque, money order, bank draft, or bank wire transfer. You agree that the Company may change its charges from time to time and the company will notify you of such change by posting a notice on the Company's website.
   
4. You are responsible for your own bank charges that you may incur due to depositing funds with the Company.
   
5. If you deposit funds by either a credit card or a UK debit card, your account will only be credited if the Company receives an approval and authorization code. If your card's issuer gives no such authorization, your account will not be credited with those funds.
   
6. Your funds are deposited into a separate, segregated stakeholders account.
   
7. You will not earn any interest on any outstanding account balances. Any interest will accrue to the Company.

Withdrawal of funds

1. If you wish to withdraw all of your funds, you first must cancel all of your unmatched bets.
   
2. You may withdraw any or all of your "Available to Withdraw Balance" as shown on our website under "My Account".
   
3. All withdrawals will be made in the currency of your account.
   
4. There is no charge for withdrawals via cheque. There is a small charge for withdrawals by Direct Bank Transfers to reflect our own charges imposed by our bank. You agree that the Company may change its withdrawal charges at any time and at its sole discretion.
   
5. For Direct Bank Transfers, withdrawals must be made to an account held in the same name as the account held with the Company. Cheques will only be made out to the name of the account holder with the Company.

Exposure

1. Your "Available to Bet Balance" is the amount in your account that you have not yet staked on either a matched or unmatched bet.
   
2. In order for your bet to be placed, you must have enough funds in your account to cover your potential losses. If you do not have sufficient funds in your account to cover your potential losses, your bet will not get placed into the exchange. Once the Company determines the result of the bet, the winnings (less commission) will be credited to the winner's account.
   
3. Your account deposit is held for your use until such time as you place a bet in the exchange at which point the amount you staked will be held by the Company as stakeholder pending the confirmation of the result of the bet.
   
4. When administering your account, the Company will calculate the amount of money owed by you to the Company, by way of commission, and to persons you have lost bets to.
   
5. ibetX calculates the amount of money you have staked on current matched and unmatched bets in the exchange and this represents your "Current Exposure". This amounted is subtracted from your "Account Balance" to determine your "Available to Bet Balance".
   
6. The Company's calculations of your "Account Balance", "Current Exposure", "Available to Bet Balance" and amounts owed by you under the terms of this agreement are final and, in the absence of any manifest error, will not be subject to any enquiry or investigation.
   
7. Once a bet placed by you into the exchange has been matched, you will not be able to cancel such a bet and you agree that the instructions that you gave to the Company to act as stakeholder for the bet and to credit the winner of the bet (less commission) is irrevocable.

Winnings

1. Following confirmation of the result, any winnings will be held for use in your ibetX account.
   
2. Any amount mistakenly credited to your ibetX account, as winnings remain the property of the Company and will be transferred out of your ibetX account immediately after the Company noticed the mistake. Any amount mistakenly credited to your ibetX account, as winnings that are withdrawn by you will constitute a debt owed by you to the Company for that amount.

Offer of Bets

1. Any offer of a bet placed by you into the exchange is in reference to a particular event and will contain the odds of the bet, whether you are backing or laying the selection, the name of the selection and the maximum amount that you are willing to stake.
   
2. You agree to appoint the Company as your agent in offering and accepting bets.
   
3. You understand that you will be betting against other members of the Company anonymously and not against the Company itself. The Company does not accept or offer bets on its own behalf under any circumstances.
   
4. When you offer bets into the exchange, any ibetX member may accept your bet provided they adhere to the Terms and Conditions. You may not nominate which individuals can accept bets of yours placed in the system.
   
5. You may offer bets in a particular market up to your "Available to Bet Balance" or your "Exposure Limit", whichever is less.
   
6. Any offer to bet remains in the system available to be accepted until cancelled by the member in accordance with the Company's cancellation procedures.
   
7. You agree that your offer to bet is only valid if it's made in accordance with the Company's Terms and Conditions.
   
8. The Company, at its sole discretion, may refuse to post an offer into the exchange without giving a reason for doing so and without prior notice.
   
9. The Company, at its sole discretion, may cancel an offer by you without giving a reason for doing so and without prior notice.
   
10. It is the member's sole responsibility for the offers they place into the system and the Company will not investigate the rationale of placing any offer at a certain odds or price.
    
11. Once your offer is accepted, you cannot change the terms of the offer.
    
12. The Company, at its sole discretion, will determine when our website is open for posting of offers on any particular event
    
13. The Company, at its sole discretion, may close the website at any time.

Acceptance of Bets

1. Any acceptance of a bet placed by you into the exchange is in reference to a particular event and will contain the odds of the bet, whether you are backing or laying the selection, the name of the selection and the maximum amount that you are willing to stake.
   
2. You understand that a placed bet only becomes matched after the relevant confirmation process is executed by you and that during the time interval between placing a bet and confirmation, the bet could be partly or wholly matched by another member or the offer could be cancelled by the member who was offering the bet.
   
3. You will be able to monitor your matched and unmatched bets using either the "Current Bets" section or the "Manage Bets" section of our website.
   
4. Once a bet is matched, it cannot be cancelled or modified, under any circumstances, by either party to the bet.
   
5. Any bet could be matched at a better price then what you selected when confirming your bet, but never a worse price. If there is a better price available in the system then the price you selected when confirming your bet, your bet will be matched or partly matched at the better price.
   
6. When accepting an offer, you are not betting with the Company but you are betting with other members of ibetX limited.
   
7. The Company, at its sole discretion, will determine when our website is open for the accepting of bets on any particular event.

Cancellation of a bet offer

1. Any bet offer may be cancelled at any time prior to the offer being matched. If part of the offer has been matched, the remaining unmatched portion of the bet offer may be cancelled at any time.
   
2. If you attempt to cancel an outstanding offer for a bet, you may not be able to do so if members have partially or wholly accepted your offer before the Company processes your cancellation instructions.
   
3. When the market is closed by ibetX, all unmatched bets are automatically cancelled.

Terms applicable to all bets

1. Depending on the currency of your ibetX Account, the minimum stake is 1 Pound, 2 US Dollars, 2 Euros, 3 Australian Dollars, 15 Hong Kong Dollars and 200 Japanese Yen.
   
2. Once an offer for a bet has been matched, the Company will hold all bet stakes. You cannot withdraw any sums of money that are committed to matched bets and all matched bets are irrevocable.
   
3. You cannot place a bet that will result in your current exposure exceeding the lesser of your "Available to Bet Balance" or "Exposure limit".
   
4. If the Company processes a matched bet outside the applicable limits, such a bet still stands and will be subject to the Terms and Conditions.
   
5. You acknowledge that all bets placed into the exchange by you are negotiated fixed odds bets.
   
6. You agree that you are aware that you may lose money from bets placed into the exchange. If you are in any doubt about how to place bets using the website, you should refer to the "Help Section" of our website.
   
7. You accept that any amounts lost by you while using our website are not recoverable, under any circumstance, from either the Company or other ibetX limited members.
   
8. The Company will operate your account, calculate the amount of money you have staked or offered to stake on a bet, calculate your exposure on a particular market, and calculate your "Available to Bet Balance". Once the Company receives confirmation of the result of the bet(s), all matched bets will be settled. The net profits (less commission) or losses will be calculated by ibetX and any returns will be credited into the relevant accounts.
   
9. To ensure integrity and fairness is maintained within the markets that we provide the company may, at its sole discretion, decide to suspend betting on a Market earlier than anticipated by its Rules and Regulations and/or void all bets within that market.

Communications and Notices

1. Communications and notices to be given under this agreement (other than information exchanges that occur during the regular operation of the website) should be sent to the Company using the contact details found in the "Contact Us" section of our website.

Commission

1. The company provides an online service that matches bets between its members. In return for providing this service, the Company charges a commission at the rate of 1%-3% of net winnings per market.
   
2. In the event that you have a net loss on a market, the Company will not deduct any commission from your account.
   
3. Your commission rate will be determined by your betting turnover and will be described in detail in our "Commission Points" section of our website.
   
4. The Company will deduct the relevant commission from your winnings at the time of settlement of the outcome of the event.
   
5. It is solely your responsibility to account for any tax or duty imposed on you as a result of placing bets into the exchange.
   
6. The Company may, at its sole discretion and without prior notice, amend the commission rates it charges for the use of its services.

Betting Duty

1. If you are a UK bookmaker in the business of negotiating and receiving bets, you may be liable to pay betting duty on the amount staked if you are acting in the course of your regular business while using our website. It is the sole responsibility for the member to account for his duty. Members should seek independent advice from their tax advisers concerning the use of the Company's services.

Indemnity

1. You agree to indemnify and hold the Company and its subsidiaries, affiliates, officers, directors, agents and employees harmless from any liabilities, claims, losses or demands made by any third party arising out of your breach of this agreement including any document incorporated by reference into this agreement or out of your violation of any law or the rights of any third party.
   
2. You acknowledge that the Company will hold information with respect to your identity, including but not limited to your name, address and payment details. You agree that we rely on this information in entering into this agreement with you and you agree to hold us harmless against any inaccuracy or falsehood contained in the information you provide us.

Matters beyond our control

1. The Company is not liable for any loss or damage that you may suffer because of any: act of God; trade or labour dispute; power cut; act, failure or omission of any government or authority; obstruction or failure of telecommunication services; or any other delay or failure caused by a third party. In such an event, the Company reserves the right to cancel or suspend its services without incurring any liability.
   
2. We are not liable for the failure of any equipment or software, wherever located or administered, or whether under our direct control or not, that may disrupt or hinder the operation of our betting services, impede the placing of orders for bets or the matching of bets or prevent you from being able to contact us.
   
3. The Company will not be liable for the acceptance or settlement of any offers of bets where ibetX Limited do not obtain communication of that acceptance or where the bet is not able to be displayed properly on the website or the Company is not in receipt of an instruction from you to cancel an offer for a bet.
   
4. We will not be liable for any failed performance of any third party to our agreement. The Company reserves the right to cancel and declare null and void any bets that we may not be capable to settle because of non-performance of a third party.
   

Limitation of Liability

1. We exclude all representations and warranties as to the Company's services and our website's appropriateness for its intended purpose.
   
2. We will not be liable to you for any loss you may incur as a result of misuse of your password and we accept no liability resulting from its unauthorized use, whether fraudulent or otherwise.
   
3. In no event shall we, or our suppliers, accept any liability from whatever cause for any losses you may incur as a result of placing bets or any other use of our website, this agreement or our services.
   
4. Under no circumstances shall our liability under the Terms and Conditions or for breach of contract, tort or otherwise exceed your maximum permitted exposure. Under no circumstances will we be liable for any indirect, special or consequential damages loss of profits or the benefit of any bet arising from breach of contract, negligence or other liability even if we had been advised or had known (or should have known) of the possibility of such damages or loss.
   
5. Nothing in these Terms and Conditions excludes our liability with respect to personal injury and death resulting from our negligence, or that of our employees, agents or subcontractors.

Intellectual Property

1. ibetX and the ibetX logo are registered trademarks of the Company and the Company is the sole owner of ibetX and the ibetX logo. Any unauthorized use of ibetX and the ibetX logo may result in prosecution.
   
2. www.ibetX.com is the uniform resource locator (URL) of our Company and no unauthorized use of the URL is permitted on another website or digital platform without prior written consent from the Company.
   
3. We are the sole owners of the rights to our technology, software and business systems.
   
4. You understand that your registration and the use of our system grants no rights whatsoever to the intellectual property contained in our system. You agree not to use any automatic or manual device to monitor or copy web pages or content therein. Any unauthorized use or reproduction may result in prosecution.
   
5. UK horseracing data is licensed from the British Horseracing Board Limited (BHB) and such data is provided for use on the website only and may not be used for any commercial purposes without the consent of the BHB.

Assignment

1. You may not assign any part of this agreement.

Severability

1. In the event that any provision of these Terms and Conditions is deemed by any competent authority to be unenforceable or invalid, the relevant provision shall be modified to allow it to be enforced in line with the intention of the original text to the fullest extent permitted by applicable law. The validity and enforceability of the remaining provisions of these Terms and Conditions shall not be affected.
   
2. If the circumstance arises that any stipulation of these Terms and Conditions is deemed by any competent authority to be unenforceable or invalid, the stipulation shall be modified to permit it to be enforced in keeping with the original text's intended meaning to the fullest extent permitted by applicable law. The agreement's remaining stipulations validity and enforceability shall not be affected.

Breach of this agreement

1. Without limiting our other remedies, we may suspend or terminate your account and refuse to continue to provide you with our services, in either case without giving you prior notice, if you breach any terms of this agreement or we believe that your actions may result in legal liability for you, for the Company or for third parties.

Dispute resolution

1. In the event of a dispute arising between you and ibetX Limited our Customer Service Department will attempt to reach an agreed solution.
   
2. In the event our Customer Service Department is not able to reach an agreement with you, our senior management and/or Board of Directors may get involved to attempt to resolve the dispute as soon as possible or, if appropriate; the Independent Betting Arbitration Service may be called upon to adjudicate.

Governing Law and Jurisdiction