NairaStake Entertainment is a sports company operating in Nigeria that offers a global portfolio of gambling products and services. This includes Africa’s leading betting exchange. NairaStake Entertainment other products include very large virtual sports world.NairaStake Entertainment is unique among other betting networks in that it offers the two most popular betting systems which are: Bookmaking and Exchange betting.
Why NairaStake Entertainment?
NairaStake Entertainment offers you unprecedented choice, value and control.
• You can bet that an outcome will happen (back) or that it won’t happen (lay).
• You can choose the odds at which you want to play.
• You can bet whilst the game is in play.
• You can use a single stake to predict the outcome of many matches in our multiples.
As we introduce other products, we will operate a simple one-wallet system, meaning you have the same username, password and payment method to play all of our games with the minimum of fuss. What is different about betting on NairaStake Entertainment
Back or lay
When you “back” a selection (be it an individual, a team, or other), you are betting that it will win. This is just like betting with a conventional bookmaker.
When you “lay” it, you are betting against it winning. For example, if you’re betting in a market on which team is going to win the Premiership and you lay Man Utd, then if they any other team wins you win.
If you are a Nigerian registered customer you are betting through the Nigerian exchange, which means that your bets are being matched by other NairaStake Entertainment customers. In this case, although NairaStake Entertainmentknows who is on each side of every bet matched, you never know who you are betting against, as it may be a number of people matching your one bet. If you are registered with NairaStake Entertainment from outside the Nigeria you are betting directly against NairaStake Entertainment rather than other NairaStake Entertainmentcustomers , but in all cases your privacy and the confidentiality of your bets is maintained by NairaStake Entertainment’s secure site.
Choose your odds
If you trade on NairaStake Entertainment and want better odds than are currently available, you can place an order for a better price, but bear in mind that if your price is unrealistic your bet is unlikely to be accepted. Note that the odds available often improve nearer to the ‘off’ (or when the event starts) as interest and betting activity in the markets increases.
Dual Betting Choice
In NairaStake Entertainment, you can choose to bet on the exchange(ie back/lay) or the bookmaking(back) bet type.If you bet on the back/lay betting, you may greatly improve your chance of winning by laying,however, your liability(what you lose if the event does not favour your prediction) increases more than when you are backing.
If you however bet on the bookmaking bet, you have the option of selecting many events that you are sure of and predicting their outcome with just one stake.
Who is behind NairaStake Entertainment NairaStake Entertainmentwas founded in December 2009 by Actively Powered Network in order to leverage online money making using betting technologies in Nigeria that had been under development for the preceding year. The technology used by NairaStake Entertainment is proprietary and, as well as being protected by copyright, is the subject of patent protection in various jurisdictions
For any enquiries concerning the company please e-mail us at firstname.lastname@example.org we will be pleased to help you. Is betting with NairaStake Entertainment safe? Meet the security you wanted
• Your full details are encrypted and sent over the internet only once – when you register.
• Your details remain encrypted and are stored on NairaStake Entertainment’s secure servers.
• For further information on the NairaStake Entertainment deposit process, email email@example.com or call our helpdesk on 083819616.
Unparalleled Customer Support
You, the Customer, are very important to us and that’s why we put a great deal of time and energy into customer service. We pride ourselves on our speed, efficiency and friendliness when dealing with any questions or queries that may arise.
Enjoy betting with NairaStake Entertainment!
Contact NairaStake Entertainment
You can always contact us by using any of the following modes:
Email: firstname.lastname@example.org (24 hours/day)
Phone: 083819616 (8:30am-4:30pm Mondays to Fridays)
Address: (No 22 Royce Road Owerri, Imo State)
Introduction to General Terms and Conditions These General Terms & Conditions apply to Nigerian registered customers betting on events.
NairaStake Entertainment is a registered private limited liability company with Registration Number RC920565 based in Nigeria. We provide an exchange (the ‘Exchange’) for betting transactions conducted between our customers which is accessible either online (the ‘Website’ facility) or by telephone (the ‘Telephone Betting Service’). We may offer other gambling services from time to time (‘Non-Exchange Gambling Services’) in which case unless otherwise stated, these terms and conditions (the ‘Terms and Conditions’) will apply to such Non-Exchange Gambling Services in the same manner as they apply to bets struck through the Exchange as described below. we do not accept bets ourselves, but we provide our customers with an automated facility for the placing of bets with each other. In return for this service, we take a commission from each customer’s net winnings on an individual betting market (‘Market’) which is deducted from funds held by customers in Trust and paid to us. ‘NairaStake Entertainment’ and the NairaStake Entertainment logo are registered trade marks of NairaStake Entertainment , the parent company of NairaStake Entertainment. In these Terms & Conditions references to ‘we’, ‘us’, ‘our’ and any similar expression shall include the Company and/or, NairaStake Entertainment and (to the extent required where these terms are incorporated by reference in any other agreement) any subsidiary of NairaStake Entertainment (other than NairaStake Entertainment(Clients) Limited). This agreement (the ‘Agreement’) is entered into between us and the customer (‘you’).
EFFECT OF THIS AGREEMENT
1. You are 18 years of age or over, of sound mind and capable of taking responsibility for your own actions.
2.You can enter into a legally binding agreement with us and you are the person whose details are provided in connection with your NairaStake Entertainmentregistration or, in the case of legal entities, you are a duly authorised representative of the relevant legal entity. In the event that another person trades on your account you are solely responsible for all their actions whether or not their access was authorised by you and for this purpose you hereby indemnify NairaStake Entertainment and hold NairaStake Entertainmentharmless against all costs, claims, expenses and damages howsoever arising in connection with the use of or access to your account by any third party.
3.You understand that by using our services you may lose money on bets placed and accept that you are fully responsible for any such loss.
4.You will not use our services to bet via any means where it is prohibited to do so while located in the jurisdiction in which you are located. In particular, you will not bet or attempt to bet via the Exchange when you are located in the United States of America or such other restricted jurisdictions as the Company may from time to time determine. The availability of the Website does not constitute an offer or invitation by NairaStake Entertainment to use the Exchange in any jurisdiction in which such use is illegal.
5.You agree it is your responsibility to verify that you are permitted to bet (including to use a person-to-person betting service) in any jurisdiction in which you are located.
6.You are acting as a principal and not as an agent on behalf of a third party.
7.You are not an undischarged bankrupt or in a voluntary arrangement with your creditors.
8.When paying money into the Trust, you warrant that you are authorised to do so. You are making such payments in good faith and will not attempt to reverse a payment made into the Trust or take any action which will cause such a payment to be reversed by a third party, in order to avoid a liability legitimately incurred.
9.You undertake to use our services for legitimate betting purposes only. In particular you undertake not to (i) engage in any activity which has the purpose or effect of causing damage to or in any way hindering our business operations or generating or increasing a liability on us, including without limitation any tax, levy or duty collecting authority; or (ii) bet on, or manipulate any Market in a manner which we believe has the purpose or effect of adversely affecting the integrity of the NairaStake Entertainment or any Market.
10.You will not attempt to hack, make unauthorised alterations or introduce any kind of malicious code to the Website by any means.
11.You will not make offensive comments, use offensive or pornographic material or make potentially defamatory or inflammatory remarks in connection with the forums or any other part of the Website including within your own username or other information contributed to any NairaStake Entertainment site.
12.You will not attempt to use the Exchange to deliberately transfer money from one NairaStake Entertainment account to another by attempting to match bets on a Market with another customer through collusion.
13.You will not disguise or interfere in any way with the IP address of the computer you are using to access the Exchange or otherwise take steps to prevent us from correctly identifying the actual IP address of the computer you are using whilst accessing the Exchange.
14.You agree that you will not access any other NairaStake Entertainment account to use any of our services or products from which you have self-excluded, during the period of any such self-exclusion.
PRIVACY AND INDEMNITY
1. Below, you may not enquire into the identity of the party or parties with whom we may match your offer for a bet or the party or parties who may accept any offer for a bet that you leave on NairaStake Entertainment.
3. you explicitly consent to the release of your personal data in accordance with the Data Protection Act 1998 and any other applicable laws.
4.You agree to indemnify us and hold us harmless in respect of the release of any personal (or other) data pursuant to the terms of this Agreement.
ACCOUNTS AND PAYMENTS
Opening an account
1.Before you are able to start betting on NairaStake Entertainment, we will require you to first register with us. Additionally, you must have placed funds into a trust administered by NairaStake Entertainment. Funds contributed by you to the Trust will be held and administered on, and subject to, the terms of the Trust. NairaStake Entertainment, which is a wholly-owned subsidiary of NairaStake Entertainment.
2.You agree to provide accurate registration information, including without limitation your correct date of birth. You agree to inform us of any changes in such details.
3.You authorise us, at any time, to use any means that we consider necessary to verify your identity and creditworthiness with any third party providers of information.
4.Registration will be conducted using secure server encryption.
5.You will inform us as soon as you become aware of any errors with respect to your account or any calculations with respect to any bet you have placed. We reserve the right to declare null and void any bets which are the subject of such an error.
Confirmation, passwords and telephone account numbers
1.If you register with us via the Website, upon completion of registration, we will confirm by electronic mail to the address you have supplied that your account is open.
2.On registration via the Website, you will be required to choose a password for use of the Website.
3.You agree to keep your username, password strictly confidential and you are responsible for any misuse of your password . Provided that we have been correctly supplied with the account information requested, we are entitled to assume that orders and payments are made by you. You should change your password on a regular basis and never disclose it to any third party. Passwords should contain a mixture of upper and lower case letters and numbers and/or symbols. Passwords are case sensitive and we recommend the use of passwords that combine a combination of non obvious letters and numbers in different cases. This will help to prevent the risk of unauthorised use of your account. You undertake to protect your username and password and any failure to do so shall be at your sole risk and expense.
4.You agree to inform us at once by electronic mail and by telephone if you believe that your account information is being misused by a third party so that we may suspend your account.
5.If you are using the Website, we strongly recommend that you disable any automatic password memory in your browser prior to use and that you run appropriate anti-spyware, firewall and virus protection on your computer on a regular basis.
Contribution of Funds and Operation of Trust
1.To open an account you need to contribute funds into the Trust which will be held by the Trustee(NairaStake Entertainment) on your behalf by way of security to meet any payment obligations you may incur as a result of placing offers for bets or accepting offers to bet on our Exchange. Details of how to make payments into the Trust and of the manner in which the Trust is operated are set out in the Deposit/Withdrawal section on our website.
1.Your betting limit is represented by your ‘balance’ determined in accordance with the terms of the Trust.
2.Once the outcome of a bet is determined, the winnings (less commission) will be held by the Trustee for the use of the winner of the bet.
USE OF NAIRASTAKE ENTERTAINMENT’S SERVICES
1.NairaStake Entertainment Exchange carries offers for bets that remain available for acceptance by you at any time. These can either be viewed on the Website or be communicated to you by a NairaStake Entertainment mobile service. We provide our customers with the following help facilities:
• on the ‘Contact us’ section of the Website itself;
• by email and by telephone with our customer helpdesk; and
• by telephone with our mobile wap Betting Service. However, you are responsible for understanding the contents and operation of our Exchange. We reserve the right to change the format of the services we offer in order to enhance such services and we reserve the right to record ALL telephone calls to NairaStake Entertainment and to monitor all information relating to betting on customers accounts for which purposes you consent.
We may determine, at our discretion, when the NairaStake Entertainment Exchange is open for the placing of bets and, though we will at all times use reasonable endeavours to settle Markets as quickly as possible, we give no assurances as to the timeframe in which Markets will be settled. We may determine, at our discretion, to take steps to block you from placing bets via the Exchange if you are located in certain jurisdictions.
OFFERS FOR BETS
1.Any offer for a bet that you make will refer to a Market available on NairaStake Entertainment and will include the Odds or Price at which you are prepared to Back, Lay, an outcome and the maximum amount of money you are prepared to stake.
2.You agree to appoint the Company as your agent: (i) for the communication of your orders for bets; and (ii) for receipt of communications of acceptance of your orders for bets.
3.An offer for a bet is open for acceptance by our other customers, either as individuals or as combinations of individuals using our Exchange, for so long as those customers comply with these Terms and Conditions.
4. you do not bet with the Company, but only with other customers who use our service. You offer to bet at the Odds or Price you select or at better Odds or a better Price, which may be higher or lower, depending on whether you are Backing or Laying an outcome, without increasing your exposure, if that is to your advantage.
An offer for a bet that you make on NairaStake Entertainment remains open for acceptance by any of our customers (unless properly cancelled by you in accordance with NairaStake Entertainment complete Exchange). You may not nominate individuals to be counterparties to any of your offers for bets.
6.Your offer will only be valid and open for acceptance if it is made in accordance with our Terms and Conditions. We reserve the right to refuse to post your offer on our Exchange without giving prior notice. 7.If we allow you to make an offer for a bet and subsequently suspect that you are or were, at the time of making the offer, in breach of this Agreement, we may, at our absolute discretion, withdraw your offer from our Exchange, void any bets outstanding to your account and terminate your account.
8..You are entirely responsible for the information that you provide us concerning the offer that you wish to place. We will not enquire into the reasonableness of any offer that you may make. We will not be liable for incorrect entries made by you on the Website, including data input errors with respect to the Odds, Price or stake on offer.
9.Once you have confirmed that you wish to place a particular order for a bet, you agree to leave the offer for that bet open for acceptance, subject to termination of the offer by us or your valid cancellation of the offer.
10.Once your offer for a bet is accepted, you will not be able to change the terms of your offer even if you had intended to cancel your offer but failed to do so or the message to us to cancel your offer was not received and processed by the Exchange before the bet was accepted.
11.We may determine, at our absolute discretion, when our Exchange is open for the posting of offers for bets on any particular Market and may close the Exchange at any time at our absolute discretion.
12.In the interests of maintaining integrity and fairness in the Markets we may, at our sole and absolute discretion, decide to suspend betting on a Market earlier than anticipated by our Rules and Regulations and/or void certain bets or a Market in its entirety. Notwithstanding any statement to the contrary in these Terms and Conditions.
ACCEPTANCE OF BETS
1.You may use the Website or the mobile wap Betting Service to accept offers for bets that are available for acceptance on our Exchange. You can obtain details of what offers for bets are available by visiting the relevant Market on the Website.
2.While we will attempt to ensure that offers for bets are correctly displayed and are effectively outstanding, we do not guarantee that every offer displayed as outstanding on the Website will be available for your acceptance. All or part of the offer of a bet displayed on the Website as available on the Exchange at specific Odds or Price may be successfully cancelled by one or more counterparties before your acceptance is processed by the Exchange. In this case, the offer for a bet will be withdrawn before your acceptance of that offer is acknowledged. Your failed attempt to accept the bet formerly on offer will however be posted as a new offer available for acceptance by other customers.
3. when you accept an offer to bet as posted on the Exchange, you are not betting with the Company but with other customers who use NairaStake Entertainment.
4.Once you have accepted an offer to bet, you will not be allowed to change the terms of that bet or cancel or withdraw from that bet.
5.Acceptance of an offer for a bet, once received by us, concludes the bet.
6.We will attempt to match your order on your behalf with offers to bet made on our Exchange so that you will receive either the Odds or Price that you have requested or better Odds or a better Price, which may be higher or lower, depending on whether you are Backing or Laying without increasing your exposure, if that is to your advantage.
7.We will display all accepted bets on the ‘Current Bets’ page on the Website.
8.You are able to check on the ‘Current Bets’ page on the Website .
You may only accept offers to bet using our Exchange in accordance with the ‘Rules ‘. We will not recognise any unsurported acceptance made by means other than either
• online, by completing the betting slip for the relevant bet on the Website or
• if you are using the mobile wap Betting Service.
TERMS APPLICABLE TO ALL BETS
Cancellation, Termination, Suspension and breach
1.Without restricting our ability to rely on other remedies that may be available to us, we may restrict your access to the NairaStake Entertainment Exchange, suspend or terminate your account in our absolute discretion without cause at any time, including (without limitation) if: (i) we suspect that you are engaging in illegal or fraudulent activity while using our Exchange; (ii) we suspect you are breaching any term of this Agreement; (iii) we suspect you are acting in a manner that is detrimental to the conduct of our business or which may result in legal liability for you, for the Company or for third parties; In addition, if formally requested by the Police, gambling regulators, Insolvency Service or taxation authorities or in the event that you fail to provide us with sufficient information to identify yourself in accordance with our own internal procedures. we may suspend your account and all functionality relating to the use of your accounts (e.g. bet management and cash withdrawal) and withhold from you any funds in your account pending determination of any criminal or other legal proceedings or investigation to which such a request may relate or until you provide the necessary ‘know your client’ or ‘age verification’ information.
2.Irrespective of whether we suspend or terminate an account and notwithstanding any other provisions in these Terms and Conditions, we may decide to cancel and void any outstanding or matched bets if required by law or at our absolute discretion where (i) there is a technological failure; or (ii) we suspect that you or another customer with whom you have bet have (or may have) breached any term of this Agreement; or (iii) we have the right to do so as set out in our Rules and Regulations. In relation to any cancelled or void bets, we reserve the right to take any money from your account relating to these bets or, if there are insufficient funds in your account, demand that you pay us the relevant outstanding amount relating to these bets.
3.You may suspend or terminate your account at any time upon notice to NairaStake Entertainment.
4.On termination or suspension of your account, in most cases we will return any funds in your account to you. However, we reserve the right to withhold the funds in your account from you pending the determination of any investigation (including any relevant external investigation): (i) where we suspect you have acted in breach of any term in this Agreement, including (but not limited to) where we suspect the account has been linked with fraudulent or dishonest activity; or (ii) where 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 determination of any such investigation we reserve the right to seize the funds in your account should we be satisfied that you have acted in breach of this Agreement. We will deal with any funds seized in this manner at our sole and absolute discretion.
5.For the avoidance of doubt at no point during any such period when we have witheld your funds will interest accrue to you on such funds.
Applicable thresholds: Minimum and maximum amounts
1.You may only place orders with a minimum stake of $1 in Odds betting. These minimum bet sizes are subject to change and may differ depending on whether you are using the Website or the mobile Betting Service.
2.You may not make any offer for a bet or accept a bet that results in your Current Exposure exceeding the lesser of: (i) your Available to Bet balance.
3.In the event that we inadvertently process an offer for a bet or the acceptance of a bet in an amount outside the applicable thresholds, such bet will nevertheless stand and be subject to the other terms of this Agreement.
Nature of bets
1.You acknowledge that all bets placed on the Exchange by you, are actually a combination of one or more fixed odds bets. The exact combination of odds is shown in the betting slip.
2.You accept that you consider yourself to be adequately informed of your possible exposure, if using the Website, by the details given on the betting slip (if you are in any doubt about this, you should consult with the relevant ‘How to bet’ demo under the ‘learn more’ section on the Home Page before proceeding).
3.You accept that any amounts lost by you under any bet shall not under any circumstances be recoverable from the Company.
1.We will settle Markets in accordance with our ‘Rules ‘. We reserve the right to reverse or amend settlement in the event of a Market being settled incorrectly. This may lead to amendments being made to your balance to reflect changes in Market settlement and if there are insufficient funds in your account we may demand that you put funds into your account to address the outstanding balance. Any amount of winnings or losses relating to your bets on a Market will be rounded to the nearest two decimal places. If the amount ends in 0.005 it will be rounded up.
COMMUNICATIONS AND NOTICES
Communications and notices to be given under this Agreement (other than those exchanges of information occurring in the normal operation of the site) should be sent to us in the manner prescribed in the ‘Contact us’ pages (accessible on the Website).
Commission and payment structure
We provide you with a platform which enables you to place bets, in consideration of which we will be paid a commission. The commission (which is subject to variation by Market type) is calculated on your net winnings on a Market. In the event that you have net losses on a Market, no commission will be deducted. The amount of commission charged on a Market will be stated in the Rules/Fees for the Market and NairaStake Entertainment reserves the right to amend this from time to time. If you place more than a specified number of transactions on the NairaStake Entertainment Exchange you may also be charged a transactional fee. We will use reasonable endeavours to inform you if your activity incurs a transactional fee. If you make more than a specified number requests for NairaStake Entertainment data you may also be charged a data request fee. We will use reasonable endeavours to inform you if your activity incurs a data request fee. Again we will use reasonable endeavours to inform you if your activity incurs a premium charge. In these Terms and Conditions, references to ‘Fees’ shall include commission, transactional fees , data request fees , the premium charge , and any other payments levied by NairaStake Entertainment on customers from time to time. For further information on Fees see ‘Fees Charges’ in the ‘About Us’ section of the Website and you shall be bound by these. We reserve the right to amend our policy on Fees from time to time.
1.You agree to indemnify and hold us and our associated companies, 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 documents 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, NairaStake Entertainment and its subsidiaries 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 falsehood or inaccuracy contained in the information you provide us. Matters beyond our reasonable control
3.We are not liable for any loss or damage that you may suffer because of any: act of God; power cut; trade or labour dispute, 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, we reserve the right to cancel or suspend our services without incurring any liability.
4.We are not liable for the failure of any equipment or software howsoever caused, wherever located or administered, or whether under our direct control or not, that may prevent 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. In particular you should be aware that if you place a bet with the intention of subsequently placing a separate bet to reduce the liability incurred by the initial bet, there can never be a guarantee that the Exchange will be available at the point you wish to place the subsequent bet.
5.We are not liable for the acceptance or settlement of any offers for bets where we do not receive communication of that acceptance or where we are unable to display that bet in the ‘My account’ pages of our Website or we have not received your instruction to cancel an offer for a bet or, for any reason, we fail to process any instruction in good time.
6.We will not be liable for any failure to perform by a third party to our Agreement.
Limitation of liability
1.We exclude all representations and warranties as to the Exchange’s satisfactory quality and/or fitness for its intended purpose.
2.We will not be liable to you for any loss that you may incur as a result of misuse of your password, or in the case of the mobile Betting Service, and we accept no liability resulting from its unauthorised use, whether fraudulent or otherwise.
3.In no event will we, or any of our suppliers, accept any liability however arising for any losses you may incur as a result of placing bets or otherwise by your use of the Exchange or our services. Under no circumstances will our liability under these Terms and Conditions or for breach of contract, tort, equity or otherwise exceed your maximum permitted exposure . Under no circumstances will we be liable for any indirect, special or consequential damages, loss of profits (direct or indirect) or the benefit of any bet arising from breach of contract, negligence, equitable duty (including for the avoidance of doubt in relation to any bet(s) or Market(s) voided by us) or other liability even if we had been advised of or known (or should have known) of the possibility of such damages or loss.
4.Nothing in these Terms and Conditions excludes our liability with respect to death and personal injury resulting from our negligence, or that of our employees, agents or subcontractors.
Gambling by those under age
1.If we are notified that you are under 18 or were under 18 when you placed any offers for bets through the Exchange (‘under age’): (i) we will immediately prevent you placing any further bets or making any withdrawls from or use of your account; (ii) we will investigate the claim that you are or were under age, including whether in fact you have been betting as an agent for or at the behest or on behalf of another person; (iii) if having found that you are or were under age, we will retain all winnings which have accrued and remain in your account or which are otherwise due to be credited to your account; (iv) you must pay to NairaStake Entertainment all winnings gained from betting through the Exchange whilst under age on demand. Should you not comply with this duty we will seek to recover from you or to set off against any stakes placed by you any winnings paid to you as a result of bets placed though the Exchange together with the costs of such recovery. Any sums recovered will belong to NairaStake Entertainment; and (v) we will not return to you any Fees paid by you in respect of bets made whilst you were under age.
Right of set off
We may at any time, without notice to you, set off any liability owed to us or to our customers by you, including (without limitation) in relation to any NairaStake Entertainment account in your name or which we believe to be under your control; against any funds held in another NairaStake Entertainment account in your name or which we believe to be under your control.
NairaStake Entertainment and the NairaStake Entertainment logo are registered trade marks of NairaStake Entertainmentand NairaStake Entertainment is the sole owner of the same. Any unauthorised use of the NairaStake Entertainment trade marks may result in prosecution. http://www.www.nairastake.com is the uniform resource locator (‘URL’) of our Company and no unauthorised use may be made of this URL (or any other URL owned by us) on another website or digital platform without our prior written consent. You agree to assign to NairaStake Entertainment any intellectual property rights (including copyright) in any bets placed by you on the Exchange. NairaStake Entertainment owns all rights in any price data and related content on the Exchange. Your registration and use of our Exchange confers no rights whatsoever to the content and related intellectual property rights contained in our Exchange. You agree not to monitor, use or copy our web pages or any content on the Exchange, including without limitation any price data. Any unauthorised use or reproduction may be prosecuted. Any data licensed to NairaStake Entertainment from third parties is provided for use on the Website only and may not be used for any commercial purposes without the consent of such third parties.
You may not assign any part of this Agreement without NairaStake Entertainment’s written consent but NairaStake Entertainment may assign this Agreement to its subsidiaries without notice to you. Information Services
NairaStake Entertainment shall not be liable for any action taken by you as a result of your relying on any information from third parties or for any loss or damage suffered by you as a result of you using such information or any third party website linked to from NairaStake Entertainment. Any links from the Website to third party websites do not constitute an endorsement by NairaStake Entertainment of any products or services available on such websites. You use such websites at your own risk and NairaStake Entertainment takes no responsibility for the content on, or use of, such websites.
NairaStake Entertainment Forum
From time to time NairaStake Entertainment may provide you with access to an online chat forum (the ‘NairaStake Entertainment Forum’). If you use the NairaStake Entertainment Forum you agree to be bound by any NairaStake Entertainment Forum Terms and Conditions which may appear on the Website from time to time. The NairaStake Entertainment Forum terms and conditions are incorporated into these Terms and Conditions by reference. We shall not be liable to you for any defamatory postings made by you or in relation to you. You agree to indemnify NairaStake Entertainmentagainst loss suffered by NairaStake Entertainment or NairaStake Entertainment or any NairaStake Entertainmentsubsidiary company as a result of any NairaStake Entertainment Forum posting made by you. You grant NairaStake Entertainment an irrevocable, perpetual license to all forum postings by you to use or reproduce for any purpose whatsoever.
These Terms and Conditions apply to you, through whatever means you access the Exchange.
You agree to accept any other NairaStake Entertainment terms and conditions giving you access to the Exchange, including those relating to NairaStake Entertainment Mobile . Any such terms and conditions are incorporated by reference into these Terms and Conditions.
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.
In the event of a dispute arising between us and you, our customer service staff will attempt to reach an agreed resolution. Should our customer service staff not be able to reach an agreement with you, our senior management and/or Board of Directors may intervene to resolve any outstanding grievance. You agree to follow any grievance/dispute policy NairaStake Entertainment may put in place from time to time. You should exhaust this process before taking any grievance/dispute to any relevant betting industry regulator or independent betting dispute resolution body that is recognised by NairaStake Entertainment under its betting grievance/dispute policy from time to time.
From time to time, we would initiate/run promotions which would allow you to get free unwithdrawable money which exclusively serves for betting purposes.
1. This money can only be used for trading purposes and cannot be withdrawn. You can however withdraw whatever profit you make with this FREE MONEY.
2. In other to prevent possible fraudlent transactions by use of our free money, we reserve the right to reduce your available money(Which represents the amount you can withdraw) at anytime we load your account with our free money. Your available money would however increase steadily as you trade with our free money if and only if you record profits/winnings.
3. Anytime you attempt to withdraw all or some parts of your available/withdrawable money, we reserve the right to clear the bonus money attached to your account at the time of that withdrawal.
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The courts of Nigeria have exclusive jurisdiction in relation to all disputes under this Agreement.
In the event of any differences between the English version of the Terms and Conditions (accessible from the homepage of http://www.www.nairastake.com) and this version, the English version shall prevail. This Agreement and the terms expressly incorporated into it constitute the entire and only agreement between the parties with regards to its subject matter and each party confirms that it has not been induced to enter into this Agreement in reliance upon, nor has it been given, any warranty (including in particular any warranty as to merchantability, fitness for purpose or uninterrupted functionality), representation, statement, assurance, covenant, agreement, undertaking, indemnity or commitment of any nature whatsoever other than as are expressly set out in this Agreement and, to the extent that it has been, it unconditionally and irrevocably waives any claims, rights or remedies which it might otherwise have had in relation thereto. No failure or delay by a party to exercise any of its rights under this Agreement shall operate as a waiver thereof and no single or partial exercise of any such right shall prevent any other or further exercise of that or any other right.
Rules and Regulations All applicants must be over 18 years of age to place a bet or register with NairaStake Entertainment. We reserve the right to ask for proof of age from any customer and suspend their account until satisfactory documentation is provided.
All information supplied when registering with the site MUST be accurate and complete in all respects. Where this is not the case the account will be suspended. Where an account is suspended, customers should contact Customer Services. All bets that are placed prior to an account being suspended will stand win or lose.
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Where any term of the offer or promotion is breached or there is any evidence of a series of bets placed by a customer or group of customers, which due to a deposit bonus, enhanced payments, free bets or any other promotional offer results in guaranteed customer profits irrespective of the outcome, whether individually or as part of a group, NairaStake Entertainment reserves the right to reclaim the bonus element of such offers and in their absolute discretion either settle bets at the correct odds, void the free bets or void any bet funded by the deposit bonus. In addition NairaStake Entertainment reserve the right to levy an administration charge on the customer up to the value of the deposit bonus, free bet or additional payment to cover administrative costs. We further reserve the right to ask any customer to provide sufficient documentation for us to be satisfied in our absolute discretion as to the customer’s identity prior to us crediting any bonus, free bet or offer to their account.
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All sport wagers made with NairaStake Entertainment are considered to be placed and received in the UK and all Conditions shall be governed by the laws of England and you irrevocably submit to the exclusive jurisdiction of the courts of England. All other products offered by NairaStake Entertainment are considered to be accepted by NairaStake Entertainment and all Conditions shall be governed by our Terms and Conditions and you irrevocably submit to the exclusive jurisdiction of our Terms and Conditions.
Customers are asked to keep their registration details up to date. This, and your account information, may be amended in the personal section of the website. If you require any assistance please Contact Us.
Please note that account details and any other sensitive data should never be sent to us by unencrypted email.
NairaStake Entertainmentallows all its customers to choose their own user name and password combination. Customers are asked to keep this information secret. Bets will stand if your user name and password have been entered correctly, subject to there being sufficient funds in the account. If at any time you feel a third party is aware of your password you should change it immediately via the website. Should you forget part or all of your combination, please email our Customer Services Department who will issue a new combination via email or you can use the forget password system in our website.
For bets placed by telephone, clients are responsible for all transactions where their name and account number or name and username are correctly quoted. Should you lose your account details or feel that someone else has your account details please Contact Us immediately.
For customers using Mobile at NairaStake Entertainment for the placing of bets, please note that NairaStake Entertainment will not be responsible for any damage to, or loss of data from the mobile phone that the runs mobile NairaStake Entertainment, and will also not be responsible for any call charges incurred whilst using the system.
Customers may only wager with the amount of cleared funds held in their account.
Internet gambling may be illegal in the jurisdiction in which you are located; if so, you are not authorised to use your payment card to complete the transaction. However any bets accepted from such jurisdictions will stand, win or lose.
By registering, the customer is deemed to have accepted and understood all the rules, terms and conditions displayed on the website by NairaStake Entertainment.
NairaStake Entertainment Fees NairaStake Entertainment charges its customers a little commission on transactions like bet placement, net winnings in a market and withdrawals. The commissions charged on bet placement is constant and goes per bet placed, i.e per selection. We may give you some holidays during our Holiday Festivals. Also the commissions charged on your net winnings in a market is 10%.
Below is a summary of all NairaStake Entertainment commssions and fees:
Charge on bet placement: 0% of stake
Charge on net exchange winnings: 10% of profit
Charge on net multiples winnings: 10% of profit
Charge on withdrawal: 0% to a minimum of $0 and a maximum of $0
All other NairaStake Entertainment transactions are free of charge. This includes sign-up and deposit.
Be aware that NairaStake Entertainment holds the right to change any of the commissions on any of its transactions. But before the change you will be informed.
FAQ – Betting
how do i place my bets
Voided Bet Settlement Rules
I won a live bet but it was returned?
Why did you return my bet?
How can i win a multiples bet if at least one of my selections win?
How can i place a multiples backing bet?
What are multiples
Why do some markets disappear sometime during the match in Live betting?
Why do some matches have fewer markets than others?
What does it mean for a bet to be Unmatched?
Can i choose my own odds while betting?
Why are laying selections unavailable for some selections?
Why do i risk more money while laying than backing?
What is the Lay Depth
What is the Lay Odd
What Is the Back Depth
What is the Back Odd?
How do I place a bet?
How do I back a selection?
How do I lay a selection?
How do i bet while the match is on?
What are the minimum and maximum stakes?
How do I know my bet has been Matched?
How do I place bets in Other Markets?
how do i place my bets [September 22, 2011, 10:38 pm]
To know how to play click on exchange market link to see available matches, click on any market of your choice in which backing meaning, saying “Yes” to a selection is on the left hand side of the market selection or laying meaning saying “No” to a selection is on the right hand side, the system uploads and show you what you have done on your bet slip you add your stake and click on next then you see your calculated profit if you backed and your liability if you layed. Still click on next as you will receive a confirmatory massage that your bet has been placed successfully. Read “how to play” on the site to know more. Always place bet with the current odd to avoid unmatched bet.
Thanks for choosing NAIRASTAKE Entertainment
Your world of opportunity
Two can play……
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Voided Bet Settlement Rules [December 23, 2010, 12:15 am]
When you place an accumulation bet and one or more of the games involved gets cancelled or becomes a draw no bet with a dra, the odd for that selection becomes 1.
For any voided selection, the odd for that becomes 1. The system also re-calculates your new prospective win and save it on your bet statement. You can always find out your new prospective win by viewing that bet from your “Exchange Bet” Link. The system would eventually settle your bet as lost or won after all the matches in your bet have been played. If however, all your accumulated matches get settled, the system returns your entire stake.
For Single Bets, the system returns your entire stake.
For laying accumulations, the system recalculates your bet for every cancelled match and returns a part of your liability. The amount returned is the difference between the initial liability and the new liability after re-calculation. The system keeps re-calculating for any cancelled, postponed match or drawn match for DrawNoBets. If you win at least one of your games in the process, the system returns your liability and adds your profit to it.
Single laying bets are returned at the end of the match where postponed, cancelled or drawn for Draw No Bets.
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I won a live bet but it was returned? [April 20, 2010, 12:43 pm]
When you place bets while the game is live, if you want to back a selection, reduce your odds slightly before doing so. If you want to lay a selection, increase your odds slightly before doing so. This is because during live bets, the odds change very quickly and the odd appearing on your betslip could have been outdated already. If for instance, the odd on your betslip when you click on a backing selection during live betting is 1.7, you could reduce it to either 1.6 or 1.55, this most probably would allow it to be matched. For a laying bet, if the odd is 1.5 for instance, you could increase it to 1.6 or 1.65, this gives it the opportunity of being matched. Note that this only happens however during singles betting.
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Why did you return my bet? [April 20, 2010, 12:37 pm]
This could be caused by any of the following reasons:
. You chose an odd higher than the current odd if you backed a selection or lower than the current odd if you layed a selection.
. You placed a DrawNoBet bet and the match was drawn
. The match was postponed or suspended and your bet was returned.
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How can i win a multiples bet if at least one of my selections win? [April 10, 2010, 11:14 pm]
This can only happen in laying multiples.To lay an outcome, click on any selection to the right when the matches get listed.Some selections are unavailable either because there has been no backer or some layers have laid all of the backer stake for the selection.When you click on any of the selections to the right, the betslip loads to show your selection. You can add as many selections as possible and the slip updates to show the changes. After adding your desired selections, you then place a single amount on your selections. Please note that the amount you risk increases as you add more selections. Your liability is determined by the product of all the individual odds.If your accumulated odd is 20.0, this implies that when you put in $10 as your stake, you risk (10 x 20)-10 that is (amount x odd)-amount, you can only lose if not even one of your selections happen, but if at least one of your selections happen, you win. Lets assume that you layed Manchester,Arsenal and Chelsea who are playing separately against different opponents at the odds below…
Arsenal—Lay odd 1.5
Chelsea—Lay odd 1.2
The total odd becomes (1.3 X 1.5 X 1.2)=2.34
You then enter $10.00 and you risk (10 x 2.34)-10=$13.40. This $13.40 leaves your account after placing the bet. However if any of the three teams viz Manchester,Arsenal,Chelsea lose or play a draw…or if one or more or all of the teams loses or plays a draw, then you would win back $10.00 wchich is exactly the amount you put in. As a result of this, the $13.40 which left your account after bet placement returns and an additional $10.00, the reason why your liability(amount you risk) gets higher in laying is because in layings you are more likely to win than in backings.You can lay singles or multiples. However, at least one of your selections must happen for you to win.
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How can i place a multiples backing bet? [April 10, 2010, 10:22 pm]
In placing a multiples backing bet, click on any selection amongst the selections listed to the left. You must first get to the matches available before doing this.To get to the matches available, click on the link “Exchange Markets”, this takes you to the list of available matches.When you click on a selection to the left, you are backing.After clicking on it, the betslip loads to show you the selection. You can go back to the match listing and add more selections, as you do this, the betslip reloads on each occasion to show the selections. You can add up to 5 selections. Please note that in backing multiples, all your selections must happen for you to win. If even one of your selections fail, you lose. As you add more events, your prospective gain increases and this may mean that your chances of winning get slimmer since all your selections must happen for you to win. Before placing the bet, as you enter your stake, the system in real-time calculates how much you stand to gain or lose.
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What are multiples [April 10, 2010, 10:08 pm]
Multiples are a kind of bet that allows you to select many events and place them as one bet.Nairastake offers both multiples backing and multiples laying.
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Why do some markets disappear sometime during the match in Live betting? [March 31, 2010, 9:11 pm]
This happens when the condition for the selection is satisfied. If Arsenal plays Barcelona and at a time, the match score shows 1-1, the following markets may disappear:
Under1.5 Total Goals—Since up to 2 goals have been scored in the match.
BackHomeCleanSheet—Since the home team has conceded one goal.
BackAwayCleanSheet—Since the away team has conceded a goal.
BackHomeScore—Since both teams have scored.
BackAwayScore—Since the away team has already scored.
BackBothScore—Since both teams have scored.
BackScore [0-1]—Since the home team has already scored.
BackScore [1-0]—Since the away team has already scored.
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Why do some matches have fewer markets than others? [March 31, 2010, 9:04 pm]
Matches have different markets based on the type of competition being played and the types of teams playing.When two equally strong teams are playing, more markets are usually more available as expectations are higher.Two weaker teams would have few people interested in wagering and we thus setup just few matches for them.
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What does it mean for a bet to be Unmatched? [March 31, 2010, 8:57 pm]
A Singles bet stays unmatched if you have selected your own odd which is different from the current market odd.Your bet will remain unmatched until the market price changes to a value within the range of your selected odd.Only then would your bet be matched. If your bet does not get matched till the suspension of the event, your money is returned to your account irrespective of whether you won or lost.
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Can i choose my own odds while betting? [March 31, 2010, 8:54 pm]
Yes? You can choose your own odds.However, this can only be done if you are placing a single bet on a match that is scheduled to go Live.You can choose any odd while backing singles or laying singles.However, you should try to choose an odd that is not so wide away from the current market price(odd) else, your bet may not eventually get matched.
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Why are laying selections unavailable for some selections? [March 31, 2010, 8:50 pm]
The laying option for a selection can only appear if the selection has been backed.Until another user backs Arsenal to win for instance,Arsenal will not win(Lay) cannot be present.
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Why do i risk more money while laying than backing? [March 31, 2010, 8:44 pm]
You basically risk more money while laying than while backing because you stand a greater chance of winning while laying than backing. In backing, your chance of winning is 33.33% that is 1 out of 3 chances while in laying, your chance of winning is 66.67%, that is 2 out of 3 chances. For example, if you lay Arsenal to win,you would win if Arsenal loses or draws but lose if Arsenal wins. You can however only win while Backing Arsenal if and only if Arsenal wins.
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What is the Lay Depth [March 31, 2010, 8:40 pm]
The Lay Depth is the total amount of money that has been risked against a selection. If for instance, the Lay Depth for Arsenal to win Barcelona is $8,000 this implies that a total of $8,000 has been risked against Arsenal winning the match.
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What is the Lay Odd [March 31, 2010, 8:36 pm]
The Lay Odd is the figure that determines the amount you would risk losing while laying a selection. If The Lay Odd for Arsenal to win Barcelona is 3.00, this means that if you stake $10.00, you risk [(10 x 3.00)-10] which is $20.00, note that this is the amount you should win if you are backing Arsenal.However, you would win exactly the amount you stake. For instance, if you stake $10, you would win $10 additionally at Full time if Arsenal Fails to Win.That is, if Arsenal Draws with Barcelona or Barcelona wins Arsenal.
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What Is the Back Depth [March 31, 2010, 8:31 pm]
The Back Depth is the total amount of money that has been staked on the Backing Selection of any given market. For instance, if the Back Depth for Arsenal to win Barcelona is $2,000 it means that the total amount of money that has been staked in favour of Arsenal to win Barcelona is $2,000.
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What is the Back Odd? [March 31, 2010, 8:28 pm]
The Back Odd is the figure that determines how much you should win when you stake on that selection.For instance, if the Back Odd for Arsenal to win Barcelona is 3.00,and you back Arsenal with $10.00,your net win should be,[(10 x 3.00)-10] which is $20.00,if you observed, for any particular odd, you should win [(Odd x Stake)-Odd], where Odd is the Backing Odd and Stake is the amount you risk.
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How do I place a bet? [March 31, 2010, 4:46 pm]
To place a bet, you must be logged in as a member into an active funded account.If you are not yet a member, you can signup…It is fast and easy.When you click on the “Exchange Markets”, it lists all available events.Usually,we allow you to see a listing of all the Home,Away and Draw odds for all available events.However, note that most events have additional markets apart from the three mentioned above. To see all the markets associated with an event, click on “View all markets” appearing just underneath the event.Once this has been clicked on,you would see the markets associated with this event.Note that markets may vary for individual events. For instance,The MatchScore market may be present for one event and not present for another.
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How do I back a selection? [March 31, 2010, 4:46 pm]
Once the markets display, you can click on a selection to the left to back.NairaStake allows you to accumulate up to 5 selections while backing.Your overall odd is usually the product of the individual selected odds.Adding more selections increases your profit but may further reduce your chances of winning.You can accumulate between a minimum of one to a maximum of 5 selections.However, note that for you to win, all your selections must win. If even one of these selections fail you, you’d lose your money. You can accumulate selections from different markets from different events. You cannot accumulate up to two markets from one event.You can only do this in separate bets.For instance, in one accumulation, you cannot say “Manchester wins” and “Manchester must score” as these markets belong to one event. You can however say “Manchester wins”,”Burnley scores”,”Arsenal vs Liverpool ends at [0-0]“.
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How do I lay a selection? [March 31, 2010, 4:45 pm]
If you lay a selection, you imply that that selection would not win. For instance, if you lay Manchester United in “Manchester United vs Chelsea”, you would win if Manchester united fails to win. That is, if Chelsea wins or the match ends in a draw, you win. Note that you stand more chances of winning while laying than while backing selections, but your liability increases while laying than backing.Your liability is usually what the backer stands to win and your profit is usually what the backer stands to lose.For instance, if in a match involving Real Madrid and Barcelona,the odds for Real Madrid to win stands at 2.10 and the odds for barcelona wins stands at 2.30, when you back Real Madrid to win, your net profit is calculated thus,((Stake x odd)-Stake).If you back Real Madrid with $100, your net profit becomes ((100 x 2.10)-100)=$110 and you risk losing $100.In other words, after placing your bet, $100 leaves your account but if you win, a total of ($100+$110) returns to your account. If you however lay Real Madrid with $100, you Lose ((100 x 2.10)-100)=$110 and stand a chance to get a net profit of $100 which is exactly your stake. So, you would only win exactly the amount you stake. This simple principle matches both the backers and layers hence, the name,”Exchange Betting”. NairaStake offers you the opportunity to also accumulate laying bets. Remember that in backing, as you accumulate bets,your profit is determined by the odds of each member of the accumulation.In laying accumulators, your liability is determined by the product of all the odds you are laying. So, the more you accumulate events to lay, the more your liability and the more your chance of winning. You can also lay up to 5 events in laying accumulators, but unlike in backing accumulators where you only win if all your selections win, in laying you win if at least one of your selection happens. If you select 5 events in your laying slip and one or more events happen, you win back your stake. Its also important you know that laying markets for different selections are never available until there is a backer for that selection. Hence, you may notice some selections that have no laying options, this can only be a consequence of nobody backing it. Your stake is also regulated in layings.This regulation is based on the amount of money that is yet unmatched at the backers end. If for instance, about $1000 has been staked in favour of Bayern Munich to win a match, and nobody has yet laid bayern munich, it means you can lay bayern munich with as much as $1000 in one single bet at a time.
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How do i bet while the match is on? [March 31, 2010, 4:38 pm]
NairaStake offers you the opportunity to bet while the match is on(Live Betting). You can see all the matches sheduled to go live by following the link, “Live Markets”. This link also shows you events that are already live. Live markets are not different from Exchange Markets as the same design and procedures are involved. However, in live bettings, the odds and markets are usually very dynamic and change so fast.This change is determined by several alogarithmic factors like, current score,current time, available amount for a selection. At the early minutes of a match, all the markets that were present before it went live are usually present. However, as the match progresses, some markets may gradually disappear. For instance, The Under1.5 and Under2.5 Goals markets would disappear once both teams score up to three goals, and the home team clean sheet would disappear once the home team concedes a goal. If you play on mobile, you may need to manually refresh the page to view current odds, but if you browse with pc, the dynamism of the market is presented to you through constant page reloads. You must be discrete to know when to place different bets during live markets as odds may change quickly at any time. In Live Markets, you can also do both backing and laying accumulators to up to 5 selections. The beauty of it is that you can accumulate events from both live markets and off-live markets and place them as one bet.
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What are the minimum and maximum stakes? [March 31, 2010, 4:37 pm]
The minimum stake available for a backing selection is $1 and the maximum stake on a selection is $100. For a laying selection,the maximum stake is determined by the maximum unmatched money and the minimum stake is $1. While placing bets, the system shows you the maximum and minimum allowed stakes at the bottom of the betslip.
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How do I know my bet has been Matched? [March 31, 2010, 4:33 pm]
Unmatched bets usually result when you select your own odds while placing single bets.If your chosen odd is higher than the current market price(odd), the system marks your bet as “Unmatched”.You can check the status of your bet by clicking on the “Exchange” bets link.Your bet remains unmatched until the market odd changes to a value higher than your chosen odd.This situation usually happens when the match on which you placed your bet goes live. Please note that choosing very high backing or very low laying odds may make your bet to eventually not get matched. Bets are usually matched during live events. However, if your bet never gets matched until the match gets suspended, it gets returned.
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How do I place bets in Other Markets? [March 31, 2010, 4:25 pm]
When you click on, ‘Exchange Markets’ all matches available for the exchange load and underneath each match you’d see,’View all markets for…’. When you click on this for any of the matches, the available markets for this match loads on the right hand side of the page. The available markets for any match is dependent on the kind of match(viz knockout,normal). For instance, a knockout match would not have the ‘Draw Selection’.The market data which loads to your right, shows the amount matched already for the match and for individual markets.
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