Terms & Conditions

FanBet is an on-chain parimutuel betting platform running on Chiliz Chain, where sports fans wager Fan Tokens on football match outcomes. Placing a bet means you accept every clause below — including the ones you were planning to skim.

These Terms are written to be read, which is why parts of them are funny. The jokes are load-bearing: each one sits on top of a rule somebody was going to email us about. Where a section is serious, we drop the jokes entirely — those clauses are marked, and you should read them as written.

Every stake placed on the same outcome flows into one shared pool. When the match settles, everyone who backed the winning outcome splits that pool pro-rata to their stake, minus the protocol fee. Your share of the winnings is your share of the pool — nothing more, nothing less.

There are no fixed odds and no bookmaker taking the other side of your bet. The "odds" you see are implied by how the pool is currently balanced, and they move as other people bet. FanBet is a non-custodial facilitator — the plumbing and the scoreboard — not your counterparty. We do not win when you lose; the losing side's stakes go to the winning bettors, not to us.

Your stake flows into an immutable, per-match pool contract on Chiliz Chain. It never touches an operator wallet. Winners claim directly from that contract by calling `claimPayout()`. The operator cannot move your funds, cannot seize them, and cannot freeze them — the one exception being a protocol-wide pause, which stops everyone equally and moves nobody's tokens.

This is the whole point. We wrote a vault whose door we deliberately did not keep a key to. That is a feature; it is also the reason we cannot "just refund you as a favour" outside the rules the contract already enforces.

FanBet takes a flat percentage of each pool at settlement. The fee is defined per-pool, fixed in the pool contract when the pool is created, and shown to you on the bet screen before you confirm anything. What you see before you bet is what the contract charges — it cannot be changed after the fact for a pool that already exists.

We are not going to print a number here that a future pool might contradict. The authoritative figure is the one displayed for the specific match you are betting on, and it is the same one the bytecode enforces.

Placing a bet takes two transactions: first you approve the Fan Token for the pool contract to spend, then you place the bet. Socios and other ERC-1271 smart-contract wallets are supported — that is exactly why the flow is approve-then-place rather than a single signed message. You pay Chiliz network gas on each transaction.

A placed bet is final. The contract does not offer an undo button, and neither do we; changing your mind after confirmation is not a supported move.

Each pool opens for betting and then closes relative to its match's kickoff, with a soft-close shortly before kickoff that tightens the window. The exact soft-close time is shown on the bet screen for that match.

Once a pool closes, it is closed. No more bets, no late entries, no "the transaction was pending" exceptions — the whistle does not wait for the mempool.

Match results are posted on-chain by an automated oracle that reads licensed free-tier football data. The oracle has no favourite team and no cousin with a betting slip; it reads the result and submits it.

Each posted result is provisional for a dispute window before it finalises. During that window the result can still be corrected. Only after the window closes does the pool move to SETTLED and payouts become claimable.

If a posted result looks wrong, an eligible stakeholder can raise a dispute within roughly the 48-hour window after it is posted. A dispute pauses finalisation of that result and sends it to a human admin arbiter.

The arbiter resolves the dispute one of three ways: confirm the oracle's result as posted, override it with the corrected result, or — where the fixture cannot be settled fairly — send the pool to a full refund. The arbiter's resolution is what the contract acts on.

There is no automatic distribution and no operator "payout" button — by design. Once a pool is SETTLED, each winner calls `claimPayout()` to pull their share. Nobody presses a button on your behalf; the winnings sit in the contract waiting for you to claim them.

Winnings that go unclaimed for 180 days after settlement are swept to the protocol fee vault. The app will prompt you when it detects a claimable win, but the 180-day clock is real — claim your winnings.

A pool refunds every stake in full — with no protocol fee taken — if it fails to reach minimum liquidity, is cancelled before it settles, or the oracle times out without a result. A refund means you get exactly what you staked back; the fee only ever applies to a pool that actually pays out winners.

Draws are not a refund; they are handled under the per-token settlement rules for the pool, which are applied on-chain the same way for everyone.

Your bets live on a public blockchain. Anyone with a block explorer can see them: which outcome you backed, how much, and when. That includes your rivals, your group chat, and an archaeologist several halvings from now.

There is no private mode for an on-chain bet. If you would not want a bet to be visible, do not place it on a public chain.

These Terms describe the behaviour of the deployed FanBet smart contracts in plain language. If any sentence here disagrees with what the deployed contracts actually do, the contracts are the final authority.

Think of this document as the match report; the bytecode is the match. When they differ, the match happened.