Why must I turn over my full deposit before making a withdrawal on Hollywoodbets?

Short Answer: You must turn over your full deposit before making a withdrawal on Hollywoodbets in adherence to the company's anti-money laundering policies and procedures. This rule prevents the platform from being used to simply move money around without actually betting.

Hollywoodbets reserves the right to refuse a withdrawal request if the value of your deposit has not been played through in full at least once.

1. Anti-Money Laundering (AML) Compliance

As an accountable institution under the Financial Intelligence Centre Act (FICA), Hollywoodbets is legally required to monitor transactions and prevent money laundering. By forcing players to turn over their deposits, they ensure the funds are being used for legitimate betting purposes rather than as a cash conversion service. This applies to all deposits, including those made via vouchers.

2. How Turnover is Calculated

If you deposit R1,000, you must stake a total of R1,000 on bets before you can withdraw your original deposit. It is your responsibility to ensure your play-through meets this requirement. Withdrawing funds before meeting the turnover requirement will lead to the request being denied until the play-through condition is satisfied.