FAQS

Welcome

What you need to know about the betting exchange

A betting exchange is a platform where customers can wager on the outcome of events by offering and accepting odds directly to other customers. Betting exchanges offer the same opportunities to bet as a bookmaker with a few differences. You can buy and sell the outcome, you can trade in real-time throughout the event and you may trade out to cut your losses or lock in a profit. Bookmaker operators generate revenue by offering less efficient odds which include a margin for themselves. Betting exchanges generate revenue by normally charging a transaction fee for providing their platform to customers, facilitating betting transactions and settling bets.

Mountbet Popular Questions

Opening an account

On the website, you will find our ‘Join Now’ button. Choose a username, password, enter your details, agree to T&C’s and then press submit. On verification of the same you shall get an account activation email and you can enjoy all the features of Mountbet.

Closing an account

If you wish to close your Mountbet account, please contact our Customer Service Department at sales@mountbet.com

Managing account details

To update your personal information go to My Account> About you> Click Edit information.

Account limits

If you want to customise your deposit limits, please contact our Customer Service Department at sales@mountbet.com for further assistance.

Getting verified

In order to fulfil all requirements for our verification process you will need to login to your account and click Submit KYC document tab and upload a copy of one document of each of the following categories:

Personal Identification – one photo ID from the following list:
– Passport
– Driving license
– National Identification card

Address Verification – one of the following:
– Utility Bill (less than 3 months old)
– Tax Bill (less than 3 months old)
– Copy of Bank Statement – (less than 3 months old)

Password and login issues

If you have forgotten your log in details then click the forgot password/username link found on the top right hand corner of the website and follow instructions to retrieve your password and access your Mountbet account. If you are unable to retrieve your password, please contact us for assistance at support@mountbet.com

Payments

You can fund your Mountbet account using a wide range of payment methods including debit and credit cards, bank transfers, prepaid vouchers or e-wallet systems. For a full list of all payment methods and related information, please refer to our Payment Methods.

Depositing into your account

To make a deposit into your Mountbet account, please click ‘deposit funds’ located beneath your username or by clicking the drop down menu next to your username and choosing ‘Deposit’. You can then choose your preferred payment method and proceed with your deposit.

Withdrawing from your account

To withdraw funds from your account go to My Account > Withdraw Funds and proceed with the transaction.

Account balance

Your account balance is displayed in the top right corner of the website. You can also view your account balance via ‘Account Statement’ by clicking on the drop down menu located next to your username.

Security

At Mountbet, the security of your account and personal information is a top priority. Our security team is always looking for proven methods and new ideas to ensure that our security systems are world-class. Read our Privacy Policy and Security sections to find out about some of the initiatives we are already taking to help protect you online.

Fraud

Mountbet has an experienced Fraud Prevention Team to combat any fraud (mainly related to stolen credit cards) and to identify any suspicious behaviour on the website. Crucially, every transaction on Mountbet is recorded and our teams use analytical tools to monitor betting activity. As part of our code of conduct, we make thorough “know your customer” checks on all our users, to verify their age, identity and that they are the rightful owner of the credit cards being used to fund their accounts. Mountbet will suspend accounts should the Fraud Prevention team have any concerns.

Mountbet Portfolio

What is a back bet?

To back a selection is to place a bet for something to happen. For example to back Liverpool would be to place money on them to win their match. If they win, so does your bet. This type of bet is the standard bet you place with a traditional bookmaker. At Mountbet you can set your own odds. When placing a bet choose the odds you wish and click Place Bets.

What is a lay bet?

To lay a bet is to place a bet on something not to happen. For example, to lay Manchester United to win their match is to place a bet on them NOT to win. If you were to lay them, you would win your bet if they either lost or drew their match. With Mountbet you can lay any selection and also choose the price you want to take, and how much you are prepared to risk. The shorter the price you wish to lay, the less money you have to risk compared to your potential reward.

Examples:
Laying a Draw in a soccer match at 13.5 might sound safe, but for every $10 you want to win, you have to risk $125 – high risk and low

Placing a Lay Bet
Select a market, choose a selection you want to lay and click on the best lay price/odds. In the following example you are laying Novak Djokovic at odds of 2.46. The backer is staking $10.

Lay Bet Betslip
– Your potential profit: $10
– Your potential loss: $14.60
– Your liability of $14.60 is taken from your balance as this is your worst case scenario.

If Novak Djokovic wins the tournament you have to pay $14.6 to the winning customer. If any other player wins the tournament you win $10 less commission. When laying a bet, you can only win the other person’s stake.

How to place a bet?

Go to Sports page of Mounbet.com, choose the sports market you want to bet and odds you want to place the bet and amount. Minimum bet is Euro 4 or currency equivalent. Mountbet has 2 bets type: Back and Lay.

Place a Bet Betslip

How can I change how my odds displayed?

At Mounbet you can set your own odds. When placing a bet choose the odds you wish and click Place Bets.

Odds Display Betslip

How do I cancel a bet?

If your bet is matched, you cannot cancel them, however in the event of the bet has Waiting or Unmatched status you can cancel it by going to My Account> My Bets> Unmatched bets> click on button Cancel unmatched bets.

Cancel Betslip

What is the difference between matched and unmatched Bet

For a bet to be struck, it must be matched with another customer, someone who has an opposing opinion.When submitting a bet offer, bets can be returned as unmatched, partially matched or matched in full.

The status of your bets is displayed under the ‘My Bets’ tab. Be sure to click on ‘Continue’ after your bet offer has been confirmed, otherwise your bet slip will not be updated.
Until your bet offer is matched by someone else, you do not yet have a bet. If nobody matches your bet before the market closes or is turned In-Play, then your bet will ‘lapse’ and you will get your money back.

IMPORTANT: Your bet could be matched a split-second after the unmatched bet slip has been shown as above. Just because it hasn’t been matched instantly does not mean it can’t still be matched.

Unmatched bets stay in the market as offers until you decide to cancel them. In a worst case scenario, you could place another bet thinking your first bet wasn’t taken and then another and another as the prices change – then the market moves back the other way and you get matched several times when you only wanted one bet! It is much safer to change the odds of your unmatched bet than trying again and again to get matched.

As prices and amount of money available constantly change on an exchange, particularly just before a race or when a market is In-Play, you may have to adjust your odds or stake to get matched. Note that the odds and stake value can still be changed in the image below – you are still able to change or cancel it at any time until the bet is matched

How long does it take to settle a bet?

Depending on the market , usually the bet is settled within 5 minutes.

What is the minimum bet size on mountbet?

Minimum bet size depends on the Currency of your account.
– For EUR it is 4 EUR
– For BRL it is 10 BRL (This is a newly introduced currency and the minimum bet size is subject to change)
– For INR it is 100 INR (This is a newly introduced currency and the minimum bet size is subject to change)

There is no maximum bet size at Mountbet, you can bet any amount as long as your bet is matched on our exchange.

How much commission do i pay?

Your commission rate determines the amount of commission that you pay on your winning bets. Mountbet charges 3.5% commission on winning bets

Example:
– You have net winnings in a market of €400.
– The Commission Rate is 3.5%.
– Therefore the commission you pay is €14 (€400 x 3.5%).

Can i get a lower commission rate depending on how much i bet?

At Mountbet we take a personal approach to all our customers. If you generate high volume bets, please get in touch with us at sales@mountbet.com to find out more.

What is a matched bet?

For a bet to be struck, it must be matched with another customer, someone who has an opposing opinion.

When submitting a bet offer, bets can be returned as unmatched, partially matched or matched in full

You can see your matched bets from your betslip as displayed below:
Matched Bet Betslip

What are matched settled lapsed voided bets?

Matched bet is a bet that has been accepted by another customer and shown as Matched Settled bet is a bet that has been either paid in the event you guessed the outcome of the event or lost

Lapsed bet – Unmatched bets that have been cancelled by Mountbet, for example, at the start of an event, when the event is turned in-play.

Voided bets – Void bets are matched bets that have been cancelled by Mountbet due to a change in the market conditions.

Please note that void bets do not appear on your account statement as no account transaction was completed; only your liability will be adjusted accordingly. Void bets are displayed in ‘My Bets’ section up to a maximum of 7 days after an event is settled.

There can be various reasons why Mountbet will void a bet. Please view the Rules and Regulations for further information.

Some most common examples for void bets:

– A football match is postponed more than three days of its original start date
– A horse is declared a non-runner (with the exception of Antepost markets)
– A tennis player retires if less than one set has been completed
– A football player in a ‘first goalscorer’ market that has not taken part in the match before or at the time of the first goal being scored.

What happens if there is a dead heat?

Dead Heat is a tie between two or, rarely, more runners in a race. Usually, a photo finish can determine the winner, but at times it is too close to call. If there is a Dead Heat, you will win part of your bet and lose part of your bet. A Dead Heat is most common in horse racing and greyhound markets but occur in other sports such as Golf as well.

A Dead Heat is calculated by dividing the stake proportionally between the number of winners in the event. So, in a two-way Dead Heat (2 winners) for example, your return will be half of what it could have been. This can be referred to as half-face value of the bet, or a bet for half the original stake.

What is the asian handicap?

Asian Handicap is a form of soccer betting which is very popular in Asia (hence the name). “Handicap” means that one team receives a “virtual head start”, effectively leading the game by a differing amount or amounts before the game starts.

Simply put, Asian Handicaps are designed to eliminate the possibility of a draw in a Soccer match, reducing the match to two possible outcomes.

There are two types of handicap – half goal (0.5, 1.5 etc) and whole goal (0,1 etc). In the case of a half-goal handicap, naturally there is always a clear winner as it’s not possible to score half a goal. In the case of a whole goal handicap, if the result is level after the handicap is taken into consideration, then all bets are refunded.

MY ACCOUNT

How to open mountbet account?

Click “Join Now” Link to open an account which is located in the centre of the screen. It will only take you few minutes to open an account and enjoy betting with Mountbet. Choose a username, password, enter your details and address then press submit.

How to update personal information?

To update your personal information go to My Account> About you> and Click Edit.

How to view my account statement?

To view your account statement click on the dropdown menu located to the right of your username and select ‘Account Statement’

By navigating in the drop down menu you can see all your settled bets, deposits, transfers and all other transactions related to your account.

How to find my betting P&L?

To see your betting P&L, click on the dropdown menu located to the right of your username and select ‘Betting Profit and Loss’

In this section you can download your history for the last 3 months. If you need a report for a time period older than three months please contact us at sales@mountbet.com

What is Mountbet commission?

Your commission rate determines the amount of commission that you pay on your winning bets.
Mountbet charges 3.5% commission on winning bets

Example:
– You have net winnings in a market of €400.
– The Commission Rate is 3.5%.
– Therefore the commission you pay is €14 (€400 x 3.5%).

What is KYC (know your customer)?

As a company, we pride ourselves on the integrity and transparency of our business. It is important that we are able to positively identify our customers and in particular confirm that they are over 18 years of age. This process helps us provide our best service, and ensures minimal disruptions to your betting.

How do i verify my documents?

You may submit your KYC document after login into your Mountbet account; link to submit your KYC can be found under your profile username.

How long does it take to verify my account?

Usually the verification process can take 24 hrs but depending on other security checks Mountbet may follow, it can take up to 48 hrs or more.

What happens if i do not complete the verification process?

According to the rules and regulations failure to complete the verification process within 28 days from the date of registration or at the time of withdrawal (whichever is earlier) will lead to closure of your Mountbet account.

How long will it take for my bets to bet settled?

Bets are settled within 5-10 minutes from the end of the sport event.

How to change password?

To change your password, click on the ‘Change Password’ link on the drop down menu located next your username and amend accordingly.

What if i forget my username and password?

If you have forgotten your username, simply click here and follow the instructions. You will receive an email from us with your username. (Please check your junk/spam folders in case our email is not recognised).

If you have forgotten your password, simply click here and follow the instructions. You will receive an email from us containing a link to verify your security answers. After clicking the link you will be able to set a new password. (Please check your junk/spam folders in case our email is not recognised).

If you experience difficulties retrieving your username, resetting your password or a locked account please contact our Customer Services Department at support@mountbet.com

Can i open an account on behalf of someone else?

Mountbet policy does not allow customers to open accounts on behalf of someone else. We strongly suggest using genuine and correct personal details of the account holder.

PAYMENTS

How to deposit funds into my account?

Please go to My Account section, click deposit funds, choose the preferred payment method and proceed with deposit.

How to withdraw funds from my account?

To withdraw funds from your account go to My Account > Withdraw Funds and proceed with the transaction.

What payment methods do you accept?

You can fund your Mountbet account using a wide range of payment methods. For a full list of all payment methods and related information, please refer to our Payment Methods.

What currencies can i fund my account with?

Currently Mountbet offers 3 Currencies to open your account with – EUR, BRL (Brazilian real) and INR (Indian rupee).

We plan to introduce more currencies in future !!

Can i change the currency in my account?

Once a customer opens an account in a specific currency, it cannot be changed. If you would like to use a different currency, please open a new account with the required currency.

My deposit has been declined by my bank but i have funds available. What should i do?

If you receive the message “Transaction declined, please speak to your card issuer.”, this means that your bank has declined the transaction. Unfortunately your bank will never give a specific reason to Mountbet for declining the transaction, therefore we encourage you to check that you have entered the correct expiry date on your Mountbet account, try an alternative card or payment method, or contact your bank to investigate the reason for the declined transaction.

Do you apply withdrawal fees?

You can find withdrawal fees in payment section of our website.

Why can’t i always choose how i withdraw my funds?

We operate what’s called a ‘closed loop policy’ when it comes to withdrawing funds. This simply means that if you’ve deposited into your Mountbet account using a payment source, you’ll need to withdraw funds back to that payment source as well.

Every time you make a deposit or a withdrawal, you’ll notice the ‘Net Deposit’ figure on that payment source change. Net Deposits are the difference between the Total Deposits and Total Withdrawals you’ve made for a particular payment method – such as a debit or credit card. The Net Deposit figure is worked out simply by taking the Total Withdrawals amount from the Total Deposits amount.

If you have deposited more than you have withdrawn to a payment source you will have positive Net Deposits.

If you’ve used more than one payment method, say a debit card and Skrill for example, you’d need to level off any positive Net Deposits made on both methods with the same amount of withdrawals before you’d be able to withdraw more than you’ve deposited on either.

This policy is just one way we protect both Mountbet, and our customers, against fraud and money laundering.

You made $70 worth of deposits from your Visa card (above) and $50 worth of deposits from Neteller. Your net deposit on your Visa card is $70 and on Neteller $50.

After some betting success on the site your ‘Available to Withdraw’ balance is $500. You wish to withdraw $150. Your preferred withdrawing method is Neteller, but before you are able to withdraw back to it over and above $50 you will need to ‘close the loop’ and level off the positive Net Deposit on your Visa card. You’d need to withdraw $70 back to the card which will make the Net Deposit figure $0.00. Once this is done, you can withdraw $80 or more back to Neteller.

If, using the situation in above example again, your preferred withdrawal method is back to your bank account, you’ll need to withdraw $70 back to Visa card and $50 back to Neteller. After those withdrawal’s have been made you’ll have Net Deposits of $0.00 on both payment sources, leaving you free to withdraw by bank transfer (or any other registered payment method).

What is IBAN, SWIFT CODE and BIC?

IBAN stands for International Bank Account Number and is a number attached to all accounts in the EU countries plus Norway, Switzerland, Liechtenstein and Hungary. The IBAN is made up of a code that identifies the country the account belongs to, the account holder’s bank and the account number itself.

A BIC (Bank Identifier Code) is the SWIFT Address assigned to a bank in order to send automated payments quickly and accurately to the banks concerned. It uniquely identifies the name and country, (and sometimes the branch) of the bank involved.

SWIFT (The Society for Worldwide Interbank Financial Telecommunication) provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.

PROMOTIONS

Where do i find current promotions?

View Promotions

SECURITY

Are my funds secure in my Mountbet account?

Yes, it is. Mountbet uses Secure Socket Layer (SSL) encryption to ensure the highest security for your financial and personal details submitted to us over the internet.

What does SSL mean?

SSL (Secure Sockets Layer) is a standard security technology for establishing an encrypted link between a server and a client—typically a web server (website) and a browser; or a mail server and a mail client (e.g., Outlook).

SSL allows sensitive information such as credit card numbers, social security numbers, and login credentials to be transmitted securely. Normally, data sent between browsers and web servers is sent in plain text—leaving you vulnerable to eavesdropping. If an attacker is able to intercept all data being sent between a browser and a web server they can see and use that information.

More specifically, SSL is a security protocol. Protocols describe how algorithms should be used; in this case, the SSL protocol determines variables of the encryption for both the link and the data being transmitted.

Does Mountbet use encrypted connections?

Mountbet automatically encrypts your confidential information in transit from your computer to ours using the Secure Sockets Layer protocol (SSL) with an encryption key length of 128-bits (the highest level commercially available). Before you even register or log in to the Mountbet website, our server checks that you’re using an approved browser – one that uses SSL 3.0 or higher.

Once your information reaches the Mountbet website, it resides on a server that is heavily guarded both physically and electronically. Mountbet servers sit behind an electronic firewall and are not directly connected to the Internet, so your private information is available only to authorised computers.

Why do i have to provide you with copies of sensitive documents?

As a licensed gambling operator Mountbet is required to collect personal information during the registration process in order to comply with its legal and regulatory requirements. We are very aware that we have a responsibility to protect your personal information and maintain your privacy.

We will never use your personal information for purposes other than those necessary to operate our website and products. We sometimes use data processing agencies and, where we do, we perform rigorous checks to make sure that these companies are reputable and will look after your data.

Whenever you register, login, make payments or send us other sensitive information we use SSL technology to make sure the information you are entering is protected. SSL is a well known standard which encrypts data before it leaves your computer in a way that can only be decrypted by Mountbet’s servers. Similarly the web pages you view are encrypted by Mountbet’s servers and only your computer can decrypt and then display them.

RESPONSIBLE GAMING

How do i close my Mountbet account?

To close your Mountbet account please contact our help desk at support@mountbet.com.

Can i restrict my weekly monthly yearly loss amounts?

You can limit your deposits limits by contacting our Customer Support department at sales@mountbet.com.

TECHNICAL HELP

What are the recommended technical requirements for using Mountbet?

We support the following list of Operating Systems and Browsers for Mountbet:

– Windows 7 and above / Edge latest available
– Windows 7 and above / Firefox latest available
– Windows 7 and above / Google Chrome latest available
– Mac OS / Safari latest available

Mountbet website won t load correctly for me – what should i do?

Please check if your computer meets the minimum requirements to view mountbet.com and download the latest software to match those requirements.

What happens if Mountbet website doesn’t load properly?

Should there be a temporary technical issue with loading mounbet.com, please try the following troubleshooting tips:

Clear Cache:
Generally most issues with the Mountbet website will be due to a ‘caching’ issue. This is when your internet browser holds ‘out of date’ information in the history folder, which conflicts with the page the browser is attempting to load.

Each time a web-page is viewed, your computer saves certain information and this can cause problems as the memory cache becomes too full over time. To clear this:

Within your browser (no matter what browser you are using) simply press CTRL+SHIFT+DELETE (as detailed in the below image). This will open a new window in which there will be an option to delete the browser history or click here to find our more

Mark ‘Temporary Internet files’ or ‘Cache’ and ‘Cookies’;

Confirm operation by clicking Delete/Clear;

Please restart your browser to affect the Cache deletion.

Enabling Cookies:
To access the Mountbet site you will need to enable Cookies; to do this:

For Internet Explorer:
1. Select ‘Tools’ and then ‘Internet Options’;
2. Within the ‘Privacy’ tab click on ‘Sites’;
3. Type ‘www.Mountbet.com’ in the ‘Address of Web site’ and then click on ‘Allow’;
4. Click ‘OK’ to save, and close down the ‘Internet Options’ window;
5. Cookies will now be enabled for the Mountbet site only.

For Mozilla Firefox:
1. Select ‘Tools’ and then ‘Options…’;
2. Select the Privacy panel;
3. Set ‘Firefox will:’ to ‘Use custom settings for history’;
4. Click on ‘Exceptions’ and type ‘www.Mountbet.com’ in the ‘Address of Web site’ and then click on ‘Allow’;
5. Click ‘Close’ to save, and close down the ‘Options’ window by clicking ‘OK’;
6. Cookies will now be enabled for the Mountbet site only.

Should the problem persist, please get in touch with our Help desk for further assistance.