1960BET COMMISSION & BONUS STRUCTURE
In line with our resolve to deliver world class gaming experience to our customers, we indeed know that our agents play a very key role and as such, we are determined to reward our agents for the hard work.
Thus, we have taken time to create multiple reward channels for our agents in the form of commissions and bonuses. As a result, we have five (5) categories of commission & bonus for Agents which applies to the two (2) main products: SPORTS and VIRTUAL
1. Weekly Commissions – SPORTS
2. Monthly Bonus – SPORTS
3. Weekly Commission – VIRTUAL
4. Weekly Bonus (SERF) – VIRTUAL
5. Quarterly Bonus – SPORTS & VIRTUAL
WEEKLY COMMISSION – SPORTS
We give Up to 30% on total weekly turnover (sales) regardless of the event outcome and profitable shops would get extra bonus monthly. Commission payment for weekly commission sports is either through Cash (Direct Bank Deposit) OR through credit of the Agent Shop Bet Account with Virtual funds.
The Weekly commission structure on stake for sports is based on the following table:
|Number Of Selection||Percentage (%) Commission|
MONTHLY BONUS – SPORTS
For the Monthly Bonus (Sport), the agent gets a share of the Shop Profit at the end of the month. No limit of Sales is required by the agent to enjoy this bonus as long as the agent shop is qualified after factoring all the conditions as shown below in the course of the calculation. Payment of this Bonus is through credit of the Agent Shop Bet Account with Virtual funds.
To calculate the Monthly Bonus on Sports: (Total Monthly Sales – Total Monthly Winnings x 35%) – (Sum Total of the Weekly Commission Received for the Month).
For instance, if Total Monthly Sales is N1, 300,000
Total Monthly Winnings is N600, 000
Total Weekly Commission on Sports Received for the Month is N160, 000
Therefore, the Monthly Bonus would be (1,300,000 – 600,000 x 35%) – (160,000)
WEEKLY COMMISSION – VIRTUAL
For the Weekly Commission on Virtual, agents have been given the liberty to choose their preferred commission model. Thus, there are two (2) different commission model:
The 50%/50% Profit Sharing Model:
This involves the agent sharing the weekly virtual sales profit equally with the company on a 50%/50% sharing formula. That is, at the end of the commission week, the Total Payout (Winnings) would be deducted from the Total Sales which will determine the Total Profit for week. Of this profit, the agent would be given 50% while the company would keep 50% as well.
For instance, if an agent make virtual sales of N500, 000 for the week with a payout (winnings) of say N300, 000 within the same week, the agent instantly is entitled to get a commission of 50% of the profit. Profit in this case is (Sales less Payout). Thus, N500, 000 less N300, 000 which is N200, 000. So the agent gets 50% of N200, 000 which amounts to N100, 000.
The 10% of Total Weekly Turnover (Sales) Model:
For this model, the agent is given 10% flat of his Total Weekly Sales on Virtual straight. That is, at the end of the commission week, the Total Sales for the period is calculated and the agent is given 10% flat of the amount regardless of the outcome or winnings during the period.
For instance, if an agent makes a Total Weekly Sales of N500,000, regardless of the winnings generated during the period , the would be settled with 10% of N500,000
Which is N50, 000 as his Weekly Commission for that week.
Payment for weekly commission on virtual is either through Cash (Direct Bank Deposit) OR through credit of the Agent Shop Bet Account with Virtual funds.
WEEKLY BONUS (SHOP EXPENSE RELIEF FUND – SERF) – VIRTUAL
This is a Bonus scheme designed to encourage and reward agents that sell more on Virtual as agents can get as much as N30,000 (Thirty Thousand Naira) weekly as bonus regardless of the outcome.
For agents to qualify for this bonus, they must make weekly sales to a tune of at least N150, 000 (One Hundred and Fifty Thousand Naira). This bonus reward is in ranges and the more the agent sells, the more he gets. No limit on the number of bet count is required to enjoy this bonus.
Below is the Table of Sales Range to qualify for SERF Bonus:
|SALES RANGE (NGN)||BONUS|
|150,000 – 199,999||1,000|
|200,000 – 249,999||1,500|
|250,000 – 299,999||2,000|
|300,000 – 349,999||2,500|
|350,000 – 399,999||3,000|
|400,000 – 449,999||3,500|
|450,000 – 499,999||4,000|
|500,000 – 699,999||5,000|
|700,000 – 999,999||7,500|
|1,000,000 – 1,499,999||10,000|
|1,500,000 – -1,999,999||15,000|
|2,000,000 – 2,999,999||20,000|
Payment for Weekly Bonus (SERF) is through Cash (Direct Bank Deposit).
QUARTERLY BONUS – SPORTS & VIRTUAL
*NGR – Net Gaming Revenue *GGR – Gross Gaming Revenue
NGR = GGR – (All Weekly Commission – All Monthly Bonus) x 3%
What is GGR = Total Sales or Turnover – Total Winnings/Payout
- Total Sales = 5,000000
- Total Winnings = 3500000
- Weekly Commission = 400000
- Monthly Bonus = 15,000
NGR = (5000000 – 3500000) – 400000 – 15000 x 3/100
- 1500000 – 400000 – 15,000 x 3/100
- 1,085,000 x 3/100 = 32,550
This refers to the bonus extended to active and trading agents at the end of every quarter. That is, this bonus is paid at the end of March, June, September and December of every year. For agents to enjoy this bonus, the agents must be deemed active and trading during the period under review.
Calculation of this bonus reward is strictly at the discretion of 1960bet. However, every agent that qualifies for this bonus would paid accordingly in line with the quarterly sales during the period. Please note that the bonus is a function of the agent’s quarterly sales. Thus, the more the sales, the more the bonus.
PAYMENT – COMMISSIONS & BONUS
The different categories of Commission/Bonus attract different payment means. However, payment is guaranteed irrespective of the category. Please find below the means of payment for the different categories of Commission/Bonus:
|COMMISSION/BONUS CATEGORY||DAY OF PAYMENT||MEANS OF PAYMENT|
|WEEKLY COMMISSION – SPORTS||Every Tuesday||Optional: Either Cash (Direct Bank Deposit) OR Virtual Fund Credit|
|MONTHLY BONUS – SPORTS||End Of Month||Virtual Fund Credit|
|WEEKLY COMMISSION – VIRTUAL||Every Tuesday||Optional: Either Cash (Direct Bank Deposit) OR Virtual Fund Credit|
|WEEKLY BONUS (SHOP EXPENSE RELIEF FUND – SERF) – VIRTUAL||Every Monday||Cash: Direct Bank Deposit|
|QUARTERLY BONUS – SPORTS & VIRTUAL||End Of Each Quarter||Virtual Fund Credit|
|WEEKLY BONUS (Serf) – SPORT||Every Monday||Cash: Direct Bank Deposit|
Please feel free to the reach the under listed contact numbers for further clarification you may need.
+234 810 7569 465
+234 810 7569 452
+234 906 1821 957
+234 903 6980 101