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Wagershare Updates Terms
Terms spidered on February 22nd, 2011 11:39 AM
SUMMARY: There are a ton of changes here to Wagershare’s terms, but none are very noteworthy. What is more noteworthy is Wagershare’s attitude towards affiliate payments and dropping revshare percentages for some folks without warning.
Definition: Confidential Information
5.1 below: Poker CommissionConfidential Information: The commission that You shall any information of whatever nature, which has been or may be paid obtained by the Affiliate from Us, the Merchant and/or its licensors, whether by way of the Affiliate Programme or otherwise, whether relating to Our or the Merchant’s information and whether in terms writing or in electronic form or pursuant to discussions with Us or the Merchant, or which can be obtained by examination, testing, visual inspection or analysis, including, without limitation, scientific, business or financial data, know-how, formulae, processes, designs, sketches, photographs, plans, drawings, specifications, sample reports, models, customer lists, price lists, studies, findings, computer software, inventions or ideas, analyses, concepts, compilations, studies and other material prepared by or in possession or control of clause 5.2 below: the recipient which contain or otherwise reflect or are generated from any such information as is specified in this definition; and any dispute between the Affiliate and Us or the Merchant or resulting from this Agreement. Chargebacks
Charge Back: Where a Customer or the credit card issuing bank or any other third party payment solution provider effects affects a reversal of charges in relation to a credit card or third party purchase transaction and for the purposes of calculating Net Win and Net Rake is regarded as Fraud. Chargebacks are deduced in the month they are charged. Fraud
Fraud Costs: Any costs (financial or otherwise) that WagerShare.com or it’s its Merchants incur as a direct or indirect result of Fraudulent Activity by Yourself, Your employees and/ or Customers/ players whom You, as Affiliate, have introduced to the casino, sports betting or poker room Merchant. Merchant: A party (who may be either a casino or poker room) for which professional services are rendered. Under this agreement WagerShare.com . provides, on behalf of the Merchant and the Affiliate, services to both parties. Match Betting/Arbitrage Betting: Any way of betting, with or without offers, such as freebets or other offers, that will give the Customer a sure win at no risk. Affiliate Responsabilities
You warrant that (a) the information You provide Us on registration is complete, valid and honest; (b) in the event You are a juristic person, the person submitting the application has the full right, power and authority to enter into this Agreement on behalf of such entity; and (c) the execution of this Agreement by such person, and the performance by You of Your obligations and duties hereunder, do not and will not violate any agreement to which You are a party or by which You are otherwise bound and (d) Your marketing activities shall adhere to the eCogra eGap. Advertising Limitations
4.13 Limitations of Advertising – The use of domain names, brand names or any bid made by you to any Internet search engine on keywords including without limitation, Spin Palace Casino, Ruby Fortune Casino, Piggs Casino, Mummy’s Mummys Gold Casino, Cabaret Club Casino, Jackpots In A Flash, Poker333or , Spin Palace Poker, Betway Casino, Betway Poker, Betway Sports, Betway Games, Gnuf Casino, Gnuf Poker and Gnuf Bingo trademarks or words that are confusingly similar, shall be considered to be a breach of the good faith provisions contained in WagerShare Terms and Conditions (see point clause 4.6). Commissions Calculation
5. Commission: Calculation and Payment 5.1 Calculation of Casino, Sports Betting and Poker Commission. You will earn Casino, Sports Betting and Poker Commission based on: . The Casino Net Win (Gross Win less Progressive Contributions (progressive games only) less bonuses awarded less Non-Cash Items less Fraud); and/ or and/or . The Sports Betting Net Win (Gross Win less bonuses awarded less Non-Cash Items less fraud); and/or . The Net Win generated by Second-tier Affiliates. . Poker Net Rake (Gross rake less bonus cash bonuses awarded less Non-Cash items less fraud). Commissions Calculation – Sportsbetting
For Sports Betting, this is the total revenue from settled bets, placed by players introduced to Sports Betting by the Affiliate. Net Win: Gross Win less Progressive Contributions less Non-Cash Items less Fraud. Termination – Fraud and Sale of Business
6.5.3 WagerShare shall be entitled to, at its sole discretion, to terminate this Agreement and withhold all funds due to the Affiliate for referral of players to be found to be involved in, or should WagerShare reasonably suspect any player referred by the Affiliate of being involved in, Match Betting or Arbitrage Betting. 6.6 Sale of Business – We recognise that an Affiliate may wish to sell his/her/ its Affiliate business to a third party. We require an Affiliate to recognise and respect that the personal qualities, probity and background of Affiliates is vital to Our decision to accept a person as an Affiliate of the Affiliate Programme. 6.6.1 If an Affiliate wishes to sell or otherwise dispose of the shares or assets of his/her/its Affiliate business to a third party (or conclude any transaction of a similar nature with a third party that will result in an effective change in control of his/her/its Affiliate business) the Affiliate shall be required, prior to completing the sale, disposal or transfer, to: (i) give Us no less than 30 (thirty) days prior written notice of such intention, simultaneously provide such details as We may request (which shall include, but not be limited to, the selling of the Affiliate’s Affiliate ID and full details of the intended purchaser (including their banking details and, if they are already an Affiliate of the Affiliate Programme, their Affiliate ID) and furnish Us with an irrevocable consent and authority to pay the selling Affiliate’s Commission, after the sale is completed, to the purchaser, in a form acceptable to Us in Our sole discretion; and (ii) make the deed of sale subject to the suspensive condition that We approve such purchaser as an Affiliate of the Affiliate Programme and that such intended purchaser shall, subject to Our approval (at Our sole discretion) join the Affiliate Programme. 6.6.2 If We reject the intended purchaser as an Affiliate of the Affiliate Programme and the selling Affiliate nevertheless decides to proceed with the sale, We reserve the right to terminate this Agreement insofar as it relates to the selling Affiliate, the business sold and/or the purchaser. Force Majeure
9.6 Force Majeure – Neither party shall be liable hereunder by reason of any failure or delay in the performance of its obligations hereunder on account of strikes, shortages, riots, insurrection, fires, flood, storm, explosions, acts of God, war, governmental action, labour conditions, earthquakes or any other cause which is beyond the reasonable control of such party.
SUMMARY: The terms are fairly straightforward in regards to changes. Sale of Business is one that is a bit distressing for those looking to get out of the business. Please read that carefully.
