Nigerians have tried a slew of platforms and setups to make money online, Ponzi schemes being one of the most tested and distrusted. Indeed, we can recognise scams from afar, or can we? 86fb football came with numerous promises and lofty claims. But is it legit?
86fb Football is a sports betting platform that rewards investors with 3% of their initial capital provided they play the hand the dealers recommend. The policy for winning is reverse betting, i.e. predicting anything apart from the actual scores of a match. Various sources say the company claims to be owned by the owners of Manchester City Football.
Despite the cries of many investors and members on community forums, we want to do a detailed, unbiased review. So this article is an 86fb football review to ascertain if the platform is a scam or legit.
What is 86fb Football?
86fb is a football-based sports betting platform which allows investors to place reverse bets on football matches. This means that investors win a bet if their predictions are false. For example, if you predict that a game will end with a 3-2 score, and it does, you lose. So, you win by predicting the wrong scores.
According to the company, you stand to gain a 3% return on your capital daily if you play the game the company suggests. There’s also a 100% refund policy if your bet doesn’t pan out well. So, nobody loses.
On surface appearance, 86fb sounds like a betting enthusiast’s utopia – zero risks and higher chances of earning. The only prerequisite is to create an account on the platform and fund it with a minimum of N3,500. It is from this capital that you can stake on games. The team announces upcoming football games for stakes at 11 am, 4 pm and 9 pm daily. The condition is that you will lose your capital if you do not play the games when they’re announced. Aside from this, the dynamics of 86fb’s betting system make it a highly profitable venture.
Is 86fb Football Legit?
To ascertain the legitimacy of a platform like 86fb, there are three key areas to look into – the business model, background, registration, and compliance with regulations.
According to Everipedia, 86fb was founded in May 2015 as one of the companies under the City Football Group. The company claims to run a hedge fund business model and incorporates statistics, mathematics and probability into the investment strategy.
Analysis of the company’s mode of operation reveals that there are referral programs. The referral system is common with two main schemes – Ponzi schemes and affiliate marketing. The 86fb company doesn’t run an affiliate marketing program.
Furthermore, upon deep research on City Football Group and their football business investments, we found no mentions of any company or subsidiary linking the parent group with 86fb football.
We also checked the Nigerian Corporate Affairs Commission (CAC) to know if the company is legally registered and found nothing on the CAC website.
Investment Plans On The 86FB Football Platform
The first investment plan is the reverse-betting program, which allows users to predict a scoreline for a football game and win if the game does not end with that scoreline.
There’s also a referral program where a user refers more people for a cash reward. Here, the platform takes into account the number of persons a particular user has referred. Your referral is complete if the person you referred registers and invests their capital. For example, if you successfully refer five people, you receive a 7,000NGN reward. If you refer 20 successfully, you receive a 33,000NGN bonus.
Analysis of the 86FB Investment Risks and Reward System
This risk assessment is purely logical and is based on the facts expressed in this article.
- You risk losing your capital if you do not play a game. It doesn’t matter if you invested N3,500 or N35,000 as initial capital.
- The referral program is bound to fail as it is pretty similar to pyramid schemes.
- There is no established business model that lets its investors know how the company makes a profit.
- A zero-risk investment with a high-yield probability appears sketchy. High-yield investments carry high risk and vice versa. A business cannot promise investors a high yield with zero risk.
Generally, choosing to invest in the 86fb football company carries a high risk of losing all your capital. Considering its lack of a solid background and bogus claim of having affiliations with City Football Group, it is not in the best interest of football enthusiasts to invest in this company and its offerings.
User Reviews and Feedback on 86FB Football
The company claims there is an app for easy use, but we could not find this app on Google Play Store or Apple Store.
Reviews from forums on Nairaland and Twitter state that the platform is a huge sham and has ripped people off billions of naira. So far, there is no positive review of the platform. Many Nigerians complained about how a colleague or friend was also scammed. Details revealed that investors were not able to withdraw their capital anymore at some point.
Red Flags and Concerns About 86FB Football
We took the time to analyse the 86fb football platform and noticed these red flags.
- There is no official website for a company that claims to be affiliated with City Football Group. There is also no mention of 86fb on the said sponsor’s website.
- The company is not registered and recognised by the CAC. Although there are mentions of a registered name, no such evidence was found during our research.
- Numerous reviews on discussion forums suggest that the platform is a sham.
- The platform lacks a recognisable legal business model.
- The risk does not match the promised yield. Even with this, the promised ROI is outrageous and cannot sustain a regular business.
86fb Football Vs Other Football Investment Platforms
There is no denying that there are legit football investment platforms, especially considering that the sports betting industry is expanding. Sports betting has become an acceptable means of income for sports enthusiasts, and football games are one of the most popular.
Platforms like Naijabet, Bet9ja, Sportybet and Nairabet have been in operation for a long time. The following are key points to note on these platforms’ operations compared to 86fb football.
- They are registered under the CAC and the National Lottery Regulatory Commission.
- These popular sports betting companies operate with business models that clearly show how they profit, which is the principal reason any business exists.
- The platforms do not promise high yields with zero risks. Every player assumes the risk of their bets.
- There’s no such thing as a reverse-betting system on these other platforms.
Also Read: How To Top Up Your Betting Account In Minutes
Conclusion
86fb football is an acclaimed sports-betting platform backed by the City Football Group. It reportedly began operations in May 2015. The dynamics of its operations are strikingly similar to pyramid schemes considering the referral system it runs.
We also compared its operations to other sports betting companies and found a huge difference. For one, it is not registered under the National Lottery Regulatory Commission.
After thorough research and analysis of the 86fb football platform, we have concluded that the 86fb football platform is a scam. We advise Nigerians to be wary of platforms such as this. It helps to check for regulatory compliance and proof of operations with websites and good reviews. When in doubt, do not engage.
