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 (Pre-match & Live bets) and VIRTUAL

1.  Weekly Commissions – SPORTS

  • Weekly Bonus – SPORTS
  • Monthly Bonus – SPORTS
  • Weekly Commission – VIRTUAL
  • Weekly Bonus (SERF) – VIRTUAL
  • 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 SelectionPercentage (%) Commission
11
22
35
4 – 58
6 – 810
9 – 1012
11 – 1315
14 – 2020
21 – 2525
26 – 3028
30+30

WEEKLY BONUS – SPORTS

On weekly basis, agents can earn more when they sell more through this bonus category. To qualify for this bonus category, the agent MUST met a certain turnover amount (a minimum of N100,000 weekly) and bet count (a minimum of 200 tickets) on pre-match & lie bets weekly. Please note that both turnover and ticket count conditions must be met to qualify for this bonus category.

As indicated below, different turnover amount and bet count range attract different bonus reward.  

Reward Category 1Sports Turnover of between N100,000 and N250,00 with a minimum ticket count of 200 ticketsN2,500
Reward Category 2Sports Turnover of above N250,000 and N500,00 with a minimum ticket count of 400 ticketsN5,000
Reward Category 3Sports Turnover of above N500,000 and N750,00 with a minimum ticket count of 600 ticketsN7,500
Reward Category 4Sports Turnover of above N750,000 to N1,000,000 and above with a minimum ticket count of 1,000 ticketsN10,000
Mode of Bonus PaymentPayment is made directly into Agent’s bank account

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)

245,000-160,000

85,000

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:
(This ONLY applies when an agent meets the weekly minimum bet count of 700 tickets
for Global Bet or Golden Race or Elbet and a weekly minimum bet count of 1,000 tickets for both Global bet, Golden Race and Elbet. Upon meeting the above conditions, 1960bet still reserves the right to place agents who play irregular, suspicious and fraudulent bet patterns on 50/50 profit share model without recourse to such agent)

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. However, for the agent to fully enjoy the benefit of 10% flat weekly commission structure, the agent must meet all the conditions which include meeting the ticket count condition and trading on all Sports and Virtual (Golden Race, Global Bet & Elbet) products.

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 – 199,9991,000
200,000 – 249,9991,500
250,000 – 299,9992,000
300,000 – 349,9992,500
350,000 – 399,9993,000
400,000 – 449,9993,500
450,000 – 499,9994,000
500,000 – 699,9995,000
700,000 – 999,9997,500
1,000,000 – 1,499,99910,000
1,500,000 – -1,999,99915,000
2,000,000 – 2,999,99920,000
Over 3,000,00030,000

Payment for Weekly Bonus (SERF) is through Cash (Direct Bank Deposit).

QUARTERLY BONUS – SPORTS & VIRTUAL

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.

Reward Computation3 months NGR x 3%
NGR ComputationNGR = GGR – All Weekly Commissions – All Monthly Bonus
GGR ComputationGGR = Total Turnover – Total Winnings
NGRNet Gaming Revenue
GGRGross Gaming Revenue
Mode of Bonus PaymentPayment to be made Into Agent’s Shop Bet Wallet

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 CATEGORYDAY OF PAYMENTMEANS OF PAYMENT
  WEEKLY COMMISSION – SPORTS  Every TuesdayOptional: Either Cash (Direct Bank Deposit) OR Virtual Fund Credit
                WEEKLY BONUS – SPORTS         Every Monday    Cash: Direct Bank Deposit
  MONTHLY BONUS – SPORTSEnd Of MonthVirtual Fund Credit
  WEEKLY COMMISSION – VIRTUAL  Every TuesdayOptional: Either Cash (Direct Bank Deposit) OR Virtual Fund Credit
WEEKLY BONUS (SHOP EXPENSE RELIEF FUND – SERF) – VIRTUALEvery MondayCash: Direct Bank Deposit
QUARTERLY BONUS – SPORTS & VIRTUALEnd Of Each QuarterVirtual Fund Credit
OTHER AGENT REWARDS & BENEFITS
1.  AGENT OF THE MONTH
2.  AGENT OF THE YEAR
3.  MONTHLY SPORTS PROMO REWARD
4.  AGENT ANNIVERSARY BONUS
5.  NEW AGENT REFFERER/INTRODUCER BONUS

Please refer to the term and conditions of the above rewards and benefits as attached

Kindly feel free to the reach the under listed contact numbers for further clarification you may need.

Thank you.

+234 700 1960 238

+234 810 7569 465

+234 810 7569 452

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