Scam Alert! Here Are Countless Reasons You Should Not Invest In 86 Football Reverse Betting Ponzi Scheme And Its Likes
Ologbo C Emmanuel –
Ever since the launch of MMM Ponzi scheme back in 2015 in Nigeria which had severe effects on a large part of the country’s population as many lost a lot financially the Ponzi industry has been thriving quite well as though it were undergoing “the snowball effect” contrary to a decline which should be expected.
What is a Ponzi scheme?
In short form, A Ponzi scheme is any business without a clear source of generating revenue but promises returns to its members for registering and (or) doing certain tasks. In reality, these schemes are only using money made from the registration of new members, the upgrade of old members, and reinvestments of members. They usually use less obvious ways to encourage their members to keep money with them by suggesting compounding, referring, promising rewards for locking funds, unnecessary withdrawal rules, and charges.
Their source of income is usually questionable, they target networkers and influencers, they usually forge documents, use fake addresses, and are fond of claiming existence from a far away date. If you see any platform which ticks all or most of the above-listed parameters, chances are high that you are encountering a Ponzi scheme.
Back to our subject of today’s investigation, 86fb football reverse betting scheme. Follow this article carefully and we will prove to you with proper evidence that 86fb, 86z, and 86w are scams and Ponzi schemes. The contents of this article have been discussed extensively by one of our staff on YouTube you can watch the video here
86fb football claims to be a regulated betting company registered and based in the UK. 86fb football also claims to be well known for their investments in football across the UK. The truth is that 86fb, 86z, 86w football are not registered in the UK, 86fb football is not regulated or licensed as a betting bookie, research shows it was founded in Nigeria as already shown on our YouTube video, we searched through the official directory of all duly registry of all registered business in the UK and we got no result but on searching for Betway a well-known betting company founded in the UK we got proper results, here’s the link to perform the search if you wish to verify or you can watch our staff do it in this video click here
We also searched through Gamblingcommisions UK to see if 86fb football would be listed there but our query brought no results while we also queried Betway on their search and found it there. You can watch our staff do that live on YouTube here or click here to access the search page. Note that Gambling commissions UK is the body in charge of regulating betting/gambling companies operating from the UK.
We also mentioned above that it was founded in Nigeria by Nigerians because the only legal Documents they’ve provided so far are their CAC certificate and a document they got in Lagos state, the Lagos state certificate bears a different name but they claim it’s the name of their parent company. You can find the CAC certificate on this page or search this RC no: 1891289 or on the YouTube video. We saw one Mr. ALOZIE CHIDIEBUBE CHIMUANYA as a significant part of the company on the CAC page. A quick search on this person does not bring any result the name could be forged but we are unsure of this. The Lagos state government certificate is shown in the image below, take note of the different names.
86fb football claims to be insured by IFC – International Finance Corporation, making it an investment and not a gamble, this claim is also fake as proven in this video, we could not find 86fb football in the database of IFC partners. One of our staff took it upon himself for the purpose of this research to verify directly from IFC and IFC publicly denied any involvement with 86fb football on Twitter. Read more on how he did this here. Please note that IFC is not an insurance company as 86fb football is claiming they are, rather they are a loaning body working with WorldBank more details about this is written on a separate post click here, this further shows their deceptive nature, See the Tweet here
Contrary to what users would normally do on a betting website, 86fb football strongly discourages Private Staking as they would not refund losses in a bid a appear caring to the public we would briefly explain how betting works and why this is a red flag! Continue reading…
Well, this is nothing but a Ponzi Pyramid Scheme organized by Nigerians unfortunately to hurt their fellow Nigerians.
86fb football claims to be in the UK but no location is given to prove this, the only picture they shared of their London base is just a random stock photo available on the internet of the Dalian arena in China yet they claim to be in the UK… how unsmart! There is no registration document or UK address to prove this.
They are faceless because the intention is to do hit and run. Every legitimate business owner is more than proud to show him/her self to the world: search for the CEOs of Betnaija, Nairabet, Sporty bet, and any other betting company you know and a face will show up.
All indications of document and location still point back to Nigeria from their CAC document. They do have a Nigerian address 10, Mulliner Towers, Ikoyi club Road, Ikoyi, LAGOS STATE as seen on the CAC page but note that all other addresses are not official, rather they are being opened by overzealous Nigerians who have been ranked as Agents in the business so they can earn monetary benefits from the company, the company utilizes this method to keep themselves faceless. We are unsure if the Lagos address is run by real staffs of the company but note that this does not guarantee anything as the laws in Nigeria are not very strong against these platforms when they crash. We have seen other companies like Crowd1, Chymall, Chinmark, MBA forex, Racksterli go scot-free after defrauding Nigerians.
We would also like to make it clear that the CAC and Lagos state document is totally USELESS. Both bodies will bear no liability for any financial loss incurred in any business, they will make no attempt to punish them if they defraud the public as we have seen severally in past Ponzi schemes like Crowd1, Chymall, Chinmark, MBA forex, Racksterli, and others.
The license they should be showing us is a betting regulation license, just like forex brokers are regulated to prevent them from absconding with investors’ funds, betting companies are also regulated to prevent them from unnecessary manipulations, DYOR
Related Post: IFC denies involvement with 86fb football (86fb.com) Ponzi scheme. Warns the public (details) Is 86fb football legit or scam?
Another red flag is that the only fiat currency they accept and pay in is Naira which shows that this company is clearly targeted at the Nigerian market.
They said reverse betting means predicting the most unlikely scoreline. If they predict 0:0 then they’d win any score the game ends asides from 0 – 0 that’s a ridiculous explanation of reverse betting it is false and no betting model of such exists globally otherwise no one should be losing in bets. Reverse betting is a conditional bet where we make ‘if statements” it occurs in pairs, a reverse bet cannot be a single bet. The gamblers use this to reduce losses, instead of going all out on a single bet, they can bet that if Team A and B play and win then Team C and D will win also ( Please do your own research on this)
How does betting even work?
Let’s say you have a friend chilling at home with you and Team A and B are about to place against themselves then you tell your friend Team A is better, they’d win this match but your friend argues and says No! Team B would win then both of you drop a certain amount called a stake. Both of you would sit for the match and after the match, the person who predicted correctly takes the other person’s money but the truth is that in real-life situations arguments may come up and your friend backs out or you may not have a friend with you always to bet against, that’s what led to the formation of betting companies called “Bookies”.
These bookies provide the platform for you to always find an opponent and ensure fairness when you win. In other words for betting to occur, there must be an opponent for you to win their money. Recall that 86fb football provides her members with betting signals so basically everyone is going the same direction and that is clearly against or contrary to the principles of betting. If everyone’s prediction is the same then who are they gambling against? Someone has to be wrong.
How do Betting companies/Bookies make money?
They charge a fee called “vigorish” from the winner of every bet, so let’s say you bet $10 to win $10 from your opponent and you eventually win, they’d pay you $19 instead of $20. If you sum up this amount it usually leads to a lot of money. They may also provide wrong odds or wrong probability for a match so as to mislead newbies then also stake their money on a bet with you. They have experts who handle this so they hardly lose. The case is very different in 86fb football, they seem to be so sure of the percentage you are going to win, the question you should ask yourself now is: How does 86fb football make money to pay members? It’s obviously by robbing Peter to pay Paul
86fb football does charge a 10% fee on your profit made but that’s not close to what is needed to run this business, do the maths and you’d see it doesn’t add up, even when you try to add the 5% withdrawal fee it still doesn’t add up because basically, they are the ones providing the 3% profits their members are winning and this is very impossible for even old-time bookies to afford. Remember that 86fb football also has a very robust affiliate system which promises a lot financially to promoters of this platform.
Let’s look at the affiliate aspect, this is where the true Ponzi nature comes out –
Imagine someone or a company who has such a goldmine money-making machine and is still offering you so much to invite others? They are practically begging you to bring in others to the platform who does that? A random stranger does not care about you, they are only after their pockets.
Before we proceed recall that one of the red flags we highlighted for Ponzi schemes is that they encourage you to compound profits on their website. 86fb football also encourages that and offers more bonus when you compound, i.e you do not withdraw… but trust us on this, if there was a business model that could provide 3% consistently for years then all Forbes listed billionaires would be into it. If you compound just 10,000 NGN for 12 months at 3% rate that will amount to 484,817,245.28 NGN in a year.
Back to the Affiliate aspect, 86fb football offers 4 ways to earn
- Daily 3%, we already discussed this
- You make 10%, 5%, 3% of the profits of your first, second, and the third generation of referrals respectively, recall that 86fb football takes just 10% but here they are already paying out 18% profits in just one aspect of the business, if not greed please why would anyone fall for this gimmick.
- Reward based on the number of people signed up with your link: If you refer 5 members to 86fb football you get 7000 NGN, for 12 members you get 8,800 NGN onetime bonus, and so on.
- Monthly Salary Plan: This is paid on the 15th of every month, if you have a total of 50 members on 1st to 3rd generation of referrals, you get 60,000 NGN monthly from the company. If you refer 200 members, you get 220,000 NGN monthly from them, and finally, if you refer 1000 members you get
86fb football claims to be founded in 2015 and 2011 as seen on their website here
It will be very easy to deceive anyone with this because the domain names they have registered long ago for example 86z.com was registered 2001-06-12, 86fb.com was registered 2014-03-29, and 86w.com was registered 2000-03-26. But we cannot fall for that, not when we have tech-nerds in our team (wink) so our staff looked a little deeper and we found out they bought old domain names.
Let’s explain this in everyday terms for clarity, let’s say a businessman buys or rents a building that has been built for over 10 years and the original owner decides to put it up for sale or for rent as the case may be, then a new business just starting up buys that building as a second user, take note the building, not the business. Will it be correct for the new business to say “we’ve been in business for the past 10 years, do your research this building has been here for the past 10 years?” You get the message now right? How did we come to this conclusion?
We used a special tool called “the Wayback machine” this tool shows what has been going on in a particular website since it was registered, from the tool we saw screenshots to prove the website was used as an online store by a Chinese company and we found out 86fb football installed their football template in November 2021. Please watch the YouTube video for proper analysis and to see our staff prove this live click here. See the screenshot below
Other red flags: you must register to access all pages that are supposed to be PUBLIC such as about us, Privacy policy, how it works, etc.
Only the Nigerian page is working well, once you switch to a different country everything goes off.
Instead of advertising games on their home page, their banners are strictly about referrals, this is definitely a Ponzi scheme.
Conclusion: Based on the evidence provided in this video and on this post we are convinced that 86fb football is a Ponzi scheme and a potential scam. Afimag does not give financial advice but if we are to give an opinion it’s only a matter of time and this platform would collapse with investors’ funds like past schemes, we hereby suggest that you are smart about your financial decisions and avoid platforms like this with no clear source of generating revenue.
