86FB Football Investment Platform Crashes, Investors Lament

86FB Football Investment Platform Crashes, Investors Lament
86FB Football Investment Platform Crashes, Investors Lament

86FB football, an investment platform that claims it focuses on football and works with William Hill, a global online gambling company based in London, England, to integrate probability and statistics has crashed.

86FB football crash is coming after a number of high-profile Ponzi investments have crashed in Nigeria in recent times. The football investment platform which claims to be owned by City Football Group also has been discovered to not be owned by the Abu Dhabi-based company which owns Manchester City Football Club in England.

What Is 86Fb?

The platform claims it “Focuses on football and works with William Hill to integrate probability and statistics. Calculations, mathematics and other principles make competitive football not only a game, but also a high level comparable to funds and stocks.

It says it runs a hedge fund arbitrage method that combines finance and conceptual science to earn stable returns with extremely low risk in sports gambling.

Some of its agents also claim it runs a reverse betting site investors can earn 3% of their capital daily (90% monthly ROI), if they play the game plan provided by the team.

Investors Lament Over 86FB Football Investment Platform Crash

Some investors have expressed displeasure over the crashing of 86FB investment platform where millions of naira seem to have been trapped.

Brand Spur Nigeria captured some reactions, see below

What You Should Know About Ponzi Schemes In Nigeria

Nigerians have recently been exposed to rising cases of Ponzi schemes, which are often pervasive during periods of the economic crunch.

The Securities and Exchange Commission (SEC) has expressed serious concern over the resurgence of Ponzi schemes and illegal fund managers in the country’s financial sector
The commission had earlier warned stakeholders and the investing public against the activities of some unlawful/unlicensed market operators and promoters of fraudulent schemes as they listed 12 fraudulent Ponzi schemes with bogus investment and return claims.

SEC had also read the riot act vowed to clamp down on illegal capital market operators, especially operators of Ponzi Schemes as the commission has identified their activities as a huge problem for the economy and the country in general.

86fb Crashes- Analysis

The fact that a lot of Nigerians lost money to 86fb is both disappointing and understandable. Because of the poor economic realities of many Nigerians, it is very easy to fall into traps like this.

The lesson from 86fb is that we should be more careful about where we put our money. Like they say, all that glitters is not gold. If you are going to stick to football betting, then you should do it on a legitimate site with a proven reputation and not just a site that has come out of the blue and promised big fortunes.

It is not too difficult to identify a good betting site. The first thing to look out for is their license information. Before you put your money on any site, ensure that it is licensed by the National Lottery Regulatory Commission or any of the recognized stage regulators.

In Lagos, for example, the regulatory body is the Lagos State Lottery and Gaming Authority.

Also, you can visit reliable affiliate sites like My Betting Sites Nigeria to find a list of trusted and safe bookies.

The 86fb ordeal is painful and unfortunate, but it is also very avoidable.