These Terms of Service ("Terms") govern your use of the FanBet247 platform operated by SP Gaming World Limited ("FanBet247", "we", "us"). By creating an account or placing a bet, you agree to be bound by these Terms.
1. About FanBet247
FanBet247 is a peer-to-peer ("P2P") sports challenge platform. We do not act as a bookmaker, sportsbook, or counterparty to your wagers. Every bet is matched between two individual users. Our role is limited to providing the technology that lets you create, accept, and settle bets, and to providing the internal accounting currency described in Section 4.
FanBet247 is accessible via the websites fanbet247.com and fanbet247.online, and via our mobile interface at the same domains.
2. Eligibility
- You must be at least 18 years old and of legal age to participate in skill or chance-based contests in your jurisdiction.
- You must reside in a jurisdiction where peer-to-peer betting between private individuals is legal. It is your responsibility to confirm this before using the platform.
- You must not be on any sanctions list or self-exclusion register related to gambling.
- Employees of SP Gaming World Limited, their immediate family, and contractors with system access may not place bets on the platform.
3. Your Account
To use FanBet247 you must register a single account using a valid email address. You may also link a Google account if Google sign-in is enabled. You agree to provide accurate, current, and complete information, and to keep your username, full name, date of birth, phone number, and other profile details up to date.
You are responsible for all activity that occurs under your credentials. Do not share your password, OTP, or 2FA codes. If you suspect unauthorised access, contact support@fanbet247.com immediately so we can suspend the account.
Only one account per person is permitted. Duplicate accounts may be merged or closed at our discretion, and balances on closed duplicate accounts may be forfeited.
4. FanCoin (FC)
FanCoin (FC) is the internal accounting unit used on the platform. FC is not a cryptocurrency, security, or legal tender. It has no value outside FanBet247 except where exchanged back to fiat via the withdrawal process described in Section 7.
New accounts receive a starting balance of 100 FC for evaluation. Promotional balances are non-withdrawable until a wagering requirement (where applicable) has been met.
FC balances do not earn interest. We may apply exchange rates between FC and fiat currencies that vary over time. The current rate is published on the deposit and withdrawal pages.
5. How Betting Works
A "challenge" is a sporting fixture (or other event) listed on the platform with two possible outcomes (Team A win / Team B win) plus, where applicable, a draw. A user creates a bet by selecting an outcome and a stake. Other users may match the bet, in whole or in part, until the challenge closes.
Betting closes 30 minutes after kick-off for time-bound events, or earlier if the admin closes the challenge. Bets placed after closure are not accepted.
The minimum stake per bet is 1.00 FC. The maximum stake per bet is 1,000.00 FC. Limits may change and are enforced server-side.
Once the official result of the event is known, an administrator settles the challenge in line with publicly reported scores from a recognised source.
6. Fees & House Cut
- Win / Loss: The winner receives their stake back plus the opponent's stake at the agreed odds. FanBet247 takes no fee on a clean win/loss settlement.
- Draw: Where a draw outcome is settled and both stakes are returned, FanBet247 retains a 10% service fee on each refunded stake. This fee covers settlement, dispute handling, and platform operating costs.
- Deposits: FanBet247 does not charge a fee on deposits, but your payment provider may.
- Withdrawals: Withdrawal fees, if any, are shown on the withdrawal page before you confirm.
7. Deposits & Withdrawals
You can fund your account ("credit your wallet") by submitting a credit request together with proof of payment to one of the supported payment methods. Once an administrator verifies your payment, FC is added to your balance at the rate then in effect.
Withdrawals convert FC back to fiat using a payout method you select (bank transfer, mobile money, or other supported method). Withdrawals are subject to the daily limits in Section 8 and to manual review when required.
Reasonable processing times: deposits within 24 hours of payment confirmation; withdrawals within 1–3 business days of approval. We may apply rate limits (currently 1 withdrawal per hour, 3 per day) to prevent fraud and abuse.
8. KYC & Withdrawal Limits
To withdraw FC at scale you must complete identity verification ("KYC"). KYC tiers and their corresponding daily withdrawal caps are:
- Basic — up to $500 / day equivalent.
- Standard — up to $2,000 / day equivalent.
- Premium — up to $10,000 / day equivalent.
To upgrade your tier, submit: a clear photo of your government-issued ID (front), the back of the same ID, a selfie holding the ID, and a recent proof of address (utility bill, bank statement, or government letter dated within the last 3 months). All uploads are scanned for integrity using SHA-256 hashing and are encrypted at rest. See the Privacy Policy for details.
9. Prohibited Conduct
- Using bots, scrapers, or automated tools to interact with the platform.
- Collusion: coordinating bets with another user to manipulate odds, results, or settlement.
- Match fixing or insider betting on events you have non-public information about.
- Money laundering, structuring deposits, or using third-party payment instruments without authorisation.
- Creating multiple accounts to abuse promotional offers.
- Harassment, hate speech, doxxing, or sharing other users' personal information in chat or messaging features.
- Attempting to bypass KYC, withdrawal limits, or geographical restrictions.
10. Suspension & Termination
We may suspend or close your account at any time for breach of these Terms, suspected fraud, regulatory request, or extended inactivity. Where we close an account for breach, we may freeze the balance pending investigation. Where no breach is found, remaining FC will be paid out subject to KYC and minimum-withdrawal rules.
You may close your account at any time by emailing support@fanbet247.com. Open bets must be resolved before closure can complete.
11. Liability
FanBet247 provides the platform on an "as is" basis. To the maximum extent permitted by law, SP Gaming World Limited is not liable for:
- Loss of FC arising from your own betting decisions.
- Loss arising from a counterparty user's behaviour, except where caused by our gross negligence.
- Service interruption, scheduled maintenance, or events outside our reasonable control (e.g. network outages, force majeure).
- Indirect, consequential, or punitive damages.
Nothing in these Terms limits liability that cannot lawfully be excluded.
12. Disputes & Governing Law
If you have a complaint, contact support@fanbet247.com. We aim to acknowledge within 2 business days and resolve within 14 days.
These Terms are governed by the laws of the Federal Republic of Nigeria. The courts of Lagos State have exclusive jurisdiction, unless mandatory consumer-protection laws in your country of residence require otherwise.
13. Changes to These Terms
We may update these Terms from time to time. Material changes will be announced via email and on the platform at least 14 days before they take effect, except where a shorter notice is required by law. Continued use after the effective date is acceptance of the updated Terms.
14. Contact Us
SP Gaming World Limited
Operator of FanBet247
Lagos, Nigeria
Email: support@fanbet247.com
Phone: +234 123 456 7890