86fb FOOTBALL crashed? Everything you need to know

Word on the streets is that reverse betting website, 86fb Football has crashed with thousands of customer’s money in it.

Both Flutterwave and 86fb Football owners have accused each other of shady dealings leaving customers angry and frustrated because they don’t really know what’s happening or who is holding their money.

If you are one of the stranded customers or just an observer, this article will help clarify some of the questions you might have.

What does Flutterwave do for 86fb website?

One of the claims of the 86fb owners is that the payment processing platform, Flutterwave has blocked their account thereby denying them access to funds, which in turn is the reason why they are unable to pay their punters.

Flutterwave on its part claimed that it closed 86fb’s account for policy violations.

Flutterwave further clarified that it is not a bank and it is not holding 86fb’s money. To this end it is important to understand the relationship between 86fb and Flutterwave.

Flutterwave is a well known payment processing gateway used by thousands of merchants to receive payments in Nigeria and beyond. Yes, Flutterwave is not a bank. Think of it as an agent that merely collects funds from customers on behalf of a merchant, and deposit the funds into the merchants bank account.

Again, Flutterwave is not the only payment processor used by 86fb, the website also accepts USDT which is processed via other platforms.

But Flutterwave does more than just payment collection. It also enables reverse payment to customers when processing their cashout.

So technically, Flutterwave is not holding 86fb customer’s money, the funds should be in bank accounts controlled by the website owners. But they do need Flutterwave to process the large number of payout requests they currently have, otherwise they will have to send money to each customer manually which is something the website owners have been unwilling to do since last week.

What is 86fb and how does reverse betting works?

86fb is the platform that pioneered reverse betting in Nigeria.

In Reverse betting, the website provides the punter with the opportunity to bet against the final score of a soccer game.

For example, a punter might be asked to bet against the final score of a game between Arsenal and Spurs to end at 0-0. The punter wins if the game ends at any score other than 0-0, thereby giving the punter more than a 96% win probability.

Is 86fb Football legit or scam?

86fb is a scam Ponzi scheme.

Think about it, you play a bet with a 96% win probability and the website still returns your money on the off chance that you loose, how then does the site operators make their money?

Besides giving you Cashbacks on lost bets, the website also operates a generous affiliate marketing and referral program that rewards players for bringing new players onto the platform.

86fb is just a Ponzi scheme like MMM, they keep using new customer’s money to pay the old ones until it is time for them to pack up and run.

Will I get my money back from 86fb investment?

Honestly, it will be much better for you to just move on because your money is not coming back. You invested in a Ponzi scheme that has crashed.

It’s just like when MMM first crashed, some people kept on believing that the scheme will return and they will get their monies back. Others, out of desperation even paid fake agents who duped them for the second time.

The only hope of getting paid from 86fb is if Flutterwave allowed the scheme back on its platform. But with all these negative press, the chance of that happening now is almost nonexistent.

Is 86fb the same as 86f, 86z, 86w?

There’s a different domain address for each of these schemes, though they all use the same script/software on their websites.

It is hard to tell if all these websites are owned by the same individual. 86z for instance is still collecting deposit from new customers – asking them to send money directly into older customers bank account. 86w on the other hand seems to have been completely abandoned as it no longer even has a payment gateway for new users.

All these platforms are a Ponzi, it shouldn’t matter if they are collectively run by the same individual or different individuals.

Who is the owner of 86fb football investment?

The owner of 86fb is identified as one Mr Chidi Asiegbu by a law firm, Benhill and Partners – who claimed to have provided legal services during the registration of the website in January, 2022.

86fb has crashed and the lesson from it is for Nigerians to stay away from money doubling schemes. If it looks way too good to be true. That is because is is way too good to be true. Always do your research and make sure your are only investing your money in legit businesses.