Terms and Conditions

Terms & Conditions

Olybet Latvia SIA
Kronvalda bulvāris 3, Rīga, LV-1010, Latvija
Reg.No.: 44103143645
License number TI-16. License was issued by Latvian Lotteries and Gambling Supervisory Inspection.

End User License Agreement 

This agreement is a legally binding contract between the customer and Olybet Latvia SIA and is mandatory for the parties to comply with.  

Olybet has the right to unilaterally change this agreement at any time, inter alia, in order to improve the customer experience, make this agreement clearer or bring them into conformity with legal requirements, or Olybet commercial interests. If the change in the agreement restricts the customer's current rights or otherwise harms his or her interests, Olybet will notify the customer of the entry into force of such change in a reasonable time. 

If customer does not agree to the changed agreement, it must stop using the user accountIf the customer does not stop using user account under this clause Olybet will close the user account. 

In the present agreement, Olybet Latvia SIA and the partner companies represented by Olybet Latvia SIA are mentioned under the name “OlyBet”, unless otherwise indicated. In addition to this agreement, please read Olybet Privacy Policy rules and learn about other information on Olybet website. When entering to use the gaming service on Olybet website (hereinafter – “Service”), Olybet wants to get a confirmation that the customer agrees to comply with and be bound by the Terms and Conditions of this document and the Privacy Policy. According to applicable law, access to Olybet gaming environment is allowed to all customers who are at least 18 years old. It is possible to use the Sports Betting, Poker and Casino services from 18 years of age. All players must go through the age verification procedure. The customer hereby acknowledges that he/she is aware of the different legal requirements in different jurisdictions and confirms that playing in Olybet gaming environment is legal according to the country of his/her residence. 

User account, player rights and obligations 

1.1. By opening a user account, a customer relationship is established between the customer and Olybet. 

1.2. Olybet is obliged to verify identity of the persons using the user account. Identifiable data is first name, surname and personal identification code, and the customer cannot use the gaming Service before this data is verified. Identification of the customer is made on the basis of Mobile-ID, Smart-ID, network-based identification services, the code of the person coming with the bank deposit and customer information received on the deposit. If the customer's identity cannot be identified or if the customer is younger than 18 years of age, their account will not be activated.  On the initial visit, the customer assigns himself a username and password, on the basis of which his identification is carried out on each subsequent visit. 

1.3. When opening a user account, the validity of the customer's restrictions is also checked from the list of persons in the register of self-excluded person maintained by the Lotteries and Gambling Supervisory Inspection of the Republic of Latvia. If the player is on the self-excluded person list, a user account will be created, but it will not be possible to gamble for which the restriction applies. 

1.4. Olybet has the right at any time to request additional information about the account, credit card, bank or e-wallet account, identity documents, etc. for the purpose of preventing misuse, even after activating the user account of the gaming environment. 

1.5. A person under the age of 18 is not allowed to gamble in Latvia and therefore a person under the age of 18 years of age cannot open an account with Olybet in Latvia in accordance with the Gambling Law. 

1.6. Each player can have one user account. Each player can only use the account personally, while it is strictly forbidden to transfer the username and password to another person.  Olybet has the right to block and/or close a user account at any time if there is a suspicion that the account holder is not using his account personally. In this case, Olybet shall not be liable in any way for any damages that the registered user may suffer as a result of such a decision. 

1.7. Players are prohibited from using methods or means when playing a game of chance that are contrary to the best practices and customs of gambling (including, but not limited to, electronic, mechanical or other means that allow the customer to determine, modify, record or analyze, depending on the game or part thereof, the outcome of the game, the amount of winnings to be paid out, the chances of winning or the strategy of the gaming system in use, etc.) or that reduce the chances of winning for fellow players 

1.8. Olybet personnel have the right to restrict player bets if the player violates this Agreement. 

1.9. Olybet shall not be liable for any loss or damage caused by force majeure or other events outside of its reasonable control caused by force majeure, including power outage, disruption or failure of telecommunications services or networks, or any other delay or failure caused by a third party. 

1.10.If a customer discovers a malfunction in Olybet gaming system, he or she undertakes to immediately forward information about the malfunction to Olybet customer support. The possibility of compensating for material damage arising from the failure is considered by Olybet only if the customer has immediately fulfilled this obligation. 

1.11.                  Olybet has the right to unilaterally and without notice to restrict the use of certain services, including setting limits for customers. 

1.12.By navigating our website, the customer agrees that Olybet may install certain information on their computer, mobile device as "cookies", i.e., small text files that allow to memorize the customer's preferences. 

1.13.The customer undertakes to inform Olybet within 1 (one) business day after registration by sending an e-mail to [email protected] that he/she is a politically exposed person (within the meaning of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing, hereinafter – Latvian AML Law) (1), a family member of a politically exposed person (2), or a person closely associated to a politically exposed person. 

1.14.Olybet reserves the right to request from the customer information to prove their identity, age or any other data given by the customer, for example, the copies of credit cards and identity documents. Olybet also retains the right to collect, update and confirm this information through a third party. Olybet retains this right throughout the customer relationship.

1.15.The Service is intended only for the user's personal use and the user is an ultimate beneficial owner*. The user is only allowed to make bets for his personal entertainment. Under no circumstances is the user allowed to use their "real money account" in Olybet for any other purpose than to use this Service. The user must disclose complete and accurate information when submitting their data to Olybet. The user is obligated to update this information if the data has changed in the meantime.

*Ultimate beneficial owner is a natural person for whose benefit or in whose interests the business relationship is being established, or in whose interests an individual transaction is being executed without establishing a business relationship

1.16.A customer cannot use any technical error or vulnerability to his / her advantage. Olybet will be entitled to cancel and reclaim all winnings gained in this manner.

2. Grounds for refusal to create a customer relationship 

2.1. In connection with its Olybet obligations under applicable law, Olybet reserves the right to refuse to provide Services to the customer and the right to refuse to enter into an agreement. 

2.2. Olybet has the right to refuse to enter into a contract, in particular if the person wishing to become a customer or a person related to him or her: 

2.2.1.      does not comply with the provisions of law, these terms and conditions of the Service or does not comply with the above contractual terms requested by the person;

2.2.2.      is a resident of a high-risk (third) country, against which Olybet has imposed restrictions on the establishment of a customer relationship according to its risk appetite;

2.2.3.      has been convicted of money laundering, terrorist financing and/or crimes where there is a risk that Olybet Services may be used for illegal purposes; 

2.2.4.      has been involved in or involved in money laundering, terrorist financing and/or crimes where there is a risk that Olybet Services may be used for illicit purposes, according to various sources;

2.2.5.      has intentionally or through gross negligence submitted Olybet incorrect or incomplete data and/or documents to Olybet or is required to submit them;

2.2.6.      has not Olybet provided sufficient data or documents to identify its identity and/or beneficial owner at the request of Olybet, or they do not meet the requirements of Olybet;

2.2.7.      is or has been the subject of international financial sanctions;

2.2.8.      has been delayed or has repeatedly been delayed in fulfilling its obligation to Olybet or has failed to fulfil other obligations arising from the customer contract;

2.2.9.      the competent public authority or other competent person, including any competent law enforcement agency, supervisory body, tax authority, court or bailiff, has Olybet lawfully ordered Olybet to restrict the Services provided to the customer;

2.2.10.   has caused Olybet direct or indirect damage or a real risk of harm, or has damaged the reputation Olybet;

2.2.11.   Olybet has the right to refuse to enter into a customer contract for any other reason deemed to be valid by Olybet, in particular if the conclusion of the customer contract is hindered by some legal obstacle such as restriction of active legal capacity, inconsistency or absence of representation rights;

2.2.12.   Refuses to the requirement mentioned in clause 1.14 of this agreement. This shall be considered as a violation of this agreement and Olybet reserves the right, in its sole discretion and without explanation, to stop the registration process or to repeal the completed registration.

3.      Prevention of money laundering and terrorist financing

3.1. Olybet is obligated as a gambling operator pursuant to the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing.

3.2. In order to prevent money laundering and terrorist financing and to apply sanctions, Olybet may, on the basis of its obligations:

3.2.1.      ask for additional information about the customer at any time (including when establishing a customer relationship or during a customer relationship), including information about the customer's wealth and/or the origin of assets, frequency of transactions, etc.; 

3.2.2.      regularly check the information collected for the performance of the due diligence measures arising from law, including the correctness of the data on which the customer is identified, and require the customer to submit or update the relevant data and documents; 

3.2.3.      If the customer does not provide the information specified in clause 3.2.2, Olybet has the right to restrict, block or extraordinarily cancel the contract concluded with the customer without complying with the notice period.

3.2.4.      Olybet assumes that the natural person who created the account is the beneficial owner. Otherwise, the person who created the user account is obliged to notify Olybet immediately. The beneficial owner is a natural person who, through ownership or other control, has ultimate dominant influence over another person or the person in whose interests, benefit or name the transaction or act is carried out.

3.2.5.      Olybet among other things, has the right to cancel the contract unilaterally without complying with the notice period for good reason, among other things, if:

  1. The customer does not allow Olybet to comply with legal due diligence measures, including if the customer does not provide Olybet with correct and complete data and required documents to comply with legal due diligence measures, as well as if the customer does not allow Olybet update the information;
  2. the information and documents provided by the customer, or a person related to them do not eliminate Olybet suspicion that the activities of the customer or a person related to him or her may be related to illegal transactions, terrorist financing or money laundering or violate the sanction. 

3.3. In order to ensure the monitoring of the user's transactions and the user's identification, in accordance with the requirements of the Latvian AML Law), Olybet is obliged to register all user transactions if one payment or several interconnected transactions in 24 (twenty four) hours amount to EUR 2000.00 (two thousand euros) and more. The user is obliged, upon the request of Olybet, to submit a copy of the personal identification document and other additional documents related to the user's activities on the user account, as well as to provide answers to the questions required for the due diligence measures specified in the Latvian AML Law. If necessary, Olybet may carry out an additional check for the purpose of verification of the User, organizing an interview via phone or on site at the office of SIA “Olybet Latvia”, address: Kronvalda bulvaris, Riga, LV-1010. The user is notified of the necessity of such verification in advance and shall arrive for the interview within 14 days from the date of sending the notification. The user’s account may be blocked and the funds in the user’s account may be frozen until the user’s verification is completed.

4.      Deposits and withdrawals

4.1. The customer agrees that Olybet is managing all the financial transactions of accounts. The customer agrees that Olybet reserves the right to withhold any payments if there is reason to believe or suspects that the customer may be or may have been involved in fraud, collusion, illegal or dishonest practices.

4.2. The customer agrees that he/she is solely responsible for managing all computer equipment, telecommunications networks and Internet access services that the customer needs to use the gaming environment. Olybet is not responsible for any damages caused by the Internet or other telecommunications service providers, which the customer engaged in order to access the gaming environment or web page.

4.3. Each customer must personally carry out all the operations related to the player's account. All financial transactions related to the player's account can be made only through a personal bank account, a credit card in the customer’s personal name.

4.4. Withdrawal is processed by Olybet within 1-5 business days. Olybet reserves the right to request additional information from the customer. In the event that such additional information is requested, the withdrawal will be processed upon receipt and   handling of all requested documents.

4.5. If Olybet mistakenly credits customer’s account with winnings that do not belong to the customer for any reason, these will be taken back from the customer’s account. If the customer has withdrawn these winnings before Olybet becomes aware of this error, the customer must immediately inform Olybet and the customer will be required to pay this back. If the customer does not, Olybet will take all legal action available to Olybet to recover this debt.

5.      The rights and restrictions of using the software 

5.1. Under the present agreement, Olybet provides the player with a personal and non-transferable right to download, install and use the software (hereinafter – “Software”) to access Olybet gaming environment.

5.2. This license does not apply to certain territories which are legally prohibited, the list of which is update from time to time.

5.3. Olybet Software is licensed and is meant for personal use by the player only. Any attempt to decode, modify, decompile, disassemble or otherwise reverse the Software is prohibited.

5.4. The Software and source code, structure and organization, including the copyrights, trade secrets and other rights belong to the license holder Olybet. Within the limits provided by law, a customer must not:

5.4.1.      copy, reverse-engineer or disassemble the Software or otherwise reverse any part of it;

5.4.2.      to make any attempt to break into the source code;

5.4.3.      to sell, convey, sublicense, distribute or rent the Software;

5.4.4.      make the Software available to third parties through a computer network or otherwise;

5.4.5.      use the Software in a manner prohibited by applicable laws or regulations.

5.5. The customer agrees that he/she is solely responsible for any damages and costs which are incurred in connection with unauthorized use of the Software. The customer must immediately notify Olybet about any undue use if the customer received such information. Also, the customer must assist Olybet without delay in the investigation that has been initiated on the basis of information provided by the customer.

5.6. Trademark “OlyBet”, domain names “www.olybet.lv”, as well as all other related trademarks, service marks and names or domains, which are used on the website and in the Software belong to Olybet. In addition, all the contents (images, pictures, graphics, photographs, animations, videos, music, text) belong to Olybet and are protected by copyright. The customer may not under any circumstances use the content of the website without the prior written consent by Olybet.

5.7. The customer agrees that when there is a rare divergence between the Software and the game server, then the result that appears on the game server will prevail. The customer acknowledges and agrees that Olybet records will be the final authority in determining the terms and circumstances of customer’s participation in casino and poker game situations in the gaming environment.

6.      Guarantees 

6.1. Olybet does not assume any direct or indirect liability regarding the Service offered to the customer. The customer takes the Service as is, and Olybet will not give the customer any statement or assertion regarding its quality, expediency, completeness or accuracy.

6.2. Despite the fact that from its part Olybet is doing all the efforts to offer the customer the Service with the best quality and security, Olybet cannot guarantee that the Service will be uninterrupted and error free. Also, Olybet will not guarantee that the Software and website are free from viruses, bugs and other

6.3. Olybet is not liable to the customer or to any third party for any costs incurred as a result of a Software defect or flaw.

6.4. Olybet is not responsible for any claims arising out of the gaming Service access, the function, quality, possible errors, such as spelling or program errors, or other factors related to the gaming Service.

7.      Security 

7.1. Olybet Latvia SIA is established under the laws of the Republic of Latvia, fully licensed and regulated to offer the online gaming Service (at the gaming environment address of www.olybet.lv). 

7.2. Olybet only allows access to the gaming environment through secure networks, using the encryption for username and password. To use the gaming environment, the customer must go through a secure login procedure.

7.3. The customer must not use the gaming environment for any commercial purpose, or on behalf of another person. The customer can use the gaming environment only for his/her private purposes.

7.4. The customer must keep his/her username and password confidential and not disclose it to anyone else. The customer is responsible for all transactions made with his/her player's account and password. Olybet assumes that only the customer is using his/her correct username and password, and transactions made with customer’s correct username and password are considered to be valid.

7.5. Olybet is using the best measures currently available for encryption of usernames and passwords and other sensitive information, which will be forwarded to the client application and Olybet servers, thus protecting both the players and Olybet against manipulation attempts by a third party.

7.6. The customer will not try to break into Olybet gaming software environment or otherwise by-pass Olybet security system. If Olybet has a suspicion that the customer is trying to do the above activities or otherwise by-pass its security system software, Olybet has the right to immediately terminate customer’s access to the gaming environment and block customer’s account. Olybet reserves the right to inform the applicable authorities.

8.      Confidentiality 

8.1. Olybet is handling personal data in accordance with data protection laws. Olybet may disclose personal information only when the customer allows it, or if it is required by law or decision of the authorities. 

8.2. The Software does contain non-public and confidential information that is personally addressed to the customer. This is valuable and confidential information to us or a supplier. The customer agrees, as long as he/she uses the Software:

8.2.1.      to keep all such confidential information strictly confidential;

8.2.2.      not to disclose such confidential information to third parties and use such confidential information only for participation in the online gaming environment.

8.3. The customer further agrees to take all reasonable steps to protect this information and keep it confidential at all times.

9.      Customer support

9.1. Olybet customers can communicate with customer support via live chat on Olybet website, both before and after logging in. The conversation held before logging in is unauthorized and informative. After logging in, the conversation is personalized, and the customer support operator can take into account the player's wishes as their identified statement of intent.

9.2. Olybet customer support operator is not required to serve a customer who communicates indecently, racist, threateningly. The operator has the right, without prior notice, to shut down the opportunity to use the chat window service for such acustomer. A one-off incident of such conduct may lead to user account temporary or permanent closure.

9.3. Olybet customer support team to consider that the communication offered through the chat window is a quick customer support tool, which is used to serve a number of customers simultaneously, and, in such communication, there is a higher probability of error occurrence. Detailed inquiries are requested to be sent to an e-mail address: [email protected].

9.4. This agreement has been translated from Latvian language. The Latvian version of this agreement will prevail in case of any disputes.

10.   Responsible gaming

10.1.By creating an account, the player agrees that there is a risk of losing money and confirms that Olybet is not liable in any way for losses incurred. Player understands that he uses the Service only at his own choice, discretion and risk.

10.2.When opening a user account, the validity of the customer's restrictions is also checked from the list of persons with restrictions on gambling (register of self-excluded persons or RSEP) maintained by the Lotteries and Gambling Supervisory Inspection Republic of Latvia. If the player is on the RSEP list, a user account will be created, but it will not be possible to gamble for which the restriction applies.

10.3.Olybet does not accept bets from the player that are contrary to the restrictions set by the player.

10.4.When opening the account with Olybet player must set at least one of the self-limits of his choice: overall stake limit or single stake limit.

10.5.Players can change or set additional stake/deposit limits any time after registration in their Olybet profile under self-limitations tab. Changing the limit to more restrictive takes effect immediately, increasing the limit to less restrictive takes effect 7 days after the change. The opportunities for setting gaming limits are described separately on the website www.olybet.lv in the responsible gaming section under the setting limits tab.

10.6.If the customer detects an error in the Olybet system regarding checking the gaming limits, then they are obliged to immediately notify the operator. The operator shall in no event be responsible for the bets made by the customer after setting the gaming limits.

10.7.Olybet does not accept bets from the player that contradict the limits set by the player.

10.8.Olybet reserves the right to restrict/limit and close the account without an obligation to provide the user with notice, if the customer’s conduct in Olybet gambling environment and/or the information which the customer has disclosed indicate that the customer is not following the principles of responsible gaming and/or that the customer may cause harm to themselves by further gambling. Olybet is not responsible for any losses incurred as a result of the decision taken in this regard.

10.9.All Olybet decisions regarding responsible gaming are final.

10.10.  The player acknowledges that the random number generator (RNG) decides the outcomes of the games played in casino and poker software of Olybet gaming environment and accepts the outcomes of all such games.

10.11.  The player has the chance to exclude himself for 12 (twelve) months from playing any games on the www.olybet.lv website. To activate self-exclusion, a player should make the corresponding request by opening „Profile” section and choosing „Self Exclusion” option. Once activated it will work only at www.olybet.lv website. It will be possible to reopen the player's account only after 12 months by making the corresponding request to the Customer Support team.

10.12.  Players can self-exclude themselves from playing with any licensed operator of the Republic of Latvia by visiting with identity documents Lotteries and gambling supervisory inspection in Riga, Stabu street 18 and submitting a written application to exclude participation in gambling in future. Lotteries and gambling supervisory inspection website www.iaui.gov.lv.

11.   End of customer relationship 

11.1.The customer relationship ends in all the cases referred to in this section.

11.2.The customer has the right to terminate the Agreement at any time and close the user account by forwarding the respective application to Olybet customer support. Customer support closes access to the user account within 3 days of receiving the application.

11.3.Olybet has the right to terminate the contract at any time by, giving at least 14 days' notice. In this case, the funds on the customer's user account are transferred to the customer's bank account within 3 (three) working days.

11.4.Olybet has the right to cancel the contract unilaterally without notice (extraordinary cancellation) for good reason, which is, amongst others:

11.4.1.   submission of false, incomplete and non-factual data to Olybet when establishing identity;

11.4.2.   failure to submit to Olybet requested documents or failure to inform Olybet of any changes to the data contained in the documents submitted to Olybet;

11.4.3.   changes in the customer's active and/or legal capacity, first of all death of the customer or limitation of active legal capacity;

11.4.4.   termination of the contract is required by a Latvian or foreign supervisory authority or other competent authority;

11.4.5.   the customer requests that the processing of their personal data be stopped, or processing thereof be restricted, and in Olybet opinion, the prerequisite for providing the Service to the customer is Olybet right to process the customer's personal data in accordance with these terms and conditions and/or the Privacy Policy;

11.4.6.   any other reason for which it is not possible to continue the customer relationship based on the laws or Olybet interests;

11.4.7.   according to clause 7.6 of the agreement;

11.4.8.   according to clause 9.2 of the agreement;

11.4.9.   according to clause 10.8 of the agreement.

12.   Limitations

12.1.If a user violates the present agreement in part or in whole, Olybet reserves the right to take the appropriate measures against such actions, according to the breach, including the termination of this agreement, blocking access to the Service, freezing or confiscating the funds on the account, and going to court against such user.

12.2.Under no circumstances, including negligence, shall Olybet be liable for any special, incidental, direct, indirect or consequential damages whatsoever (including, without limitation, damages for loss of business profits, business interruption, loss of business information, or any other pecuniary loss) arising out of the use (or misuse) of the Service even if Olybet had prior knowledge of the possibility of such damages.

12.3.If there will be a disagreement about the bet or winning amount, then the decision by Olybet is final and binding. Olybet reserves the right to reasonably withhold any payout or winning amount until the identity of the winning person is verified to its satisfaction in order to ensure that payment of the winning amount is being made to the correct person. For this purpose, Olybet reserves the right to demand that the customer will provide Olybet with a notarized ID or any equivalent certified ID according to the applicable law in the jurisdiction of the customer.

12.4.Olybet retains the right to make the amendments related to gaming Service, including, where appropriate, to improve the rules of the game, without prior notice to the customer. Information related to any changes will be published on the Olybet website.

13.   Bonus rules

13.1.Olybet is offering and advertising promotions, bonuses and other special offers. Each such offer will be subject to personal terms and conditions which will be valid for a limited period of time. In connection with the specific terms of the above promotions, bonuses and special offers, Olybet reserves the right to withhold any withdrawal amount from user account which will be in excess of customer’s original deposit.

13.2.Olybet has the right to modify or change the bonus rules at any time. It is player’s obligation to be aware of the changes.

13.3.Olybet reserves the right to freeze, withhold or otherwise decline or reverse any payout or winning amount, if it is found that the customer abused/violated or defrauded the bonuses, promotions or personalized offers.

13.4.Olybet has the right to offer a specific bonus/campaign to a specific customer or group of customers. Also, Olybet has the right to exclude customers from future bonuses and campaigns. Any such exclusion may be changed at the discretion of Olybet.

14.   Complaints

14.1.Appeals, for example, about payment errors or about unpaid winnings must be submitted to Olybet in writing within 30 (thirty) days from the time the problem was discovered or should have been detected. 

Terms and Conditions were renewed on 29.09.2022.