Terms of services
These Terms of Use are entered into between you, hereinafter referred to as “you” or “your” and betfury.io (hereinafter referred to as “BetFury”) as defined below. References to “you” and/or “your” are references to any person using, accessing, or attempting to use BetFury Crypto Staking. Please, read the terms carefully as they govern your use of BetFury Crypto Staking.
BetFury Crypto Staking are provided by Universe B Games B.V., a company incorporated under the laws of Curacao, registration no 155126 and license # GLH-OCCHKТW0712232020 in a partnership with the Service Provider company DIGITALRIDE SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ incorporated under the laws of the Republic of Poland, number in the Register of Virtual Currency activities RDWW-737, dated May 4, 2023
By making use of BetFury Crypto Staking, you acknowledge, agree and confirm that:
As with any asset, the value of Digital Currencies, as defined below, may fluctuate significantly and there is a substantial risk of economic losses when purchasing, selling, holding or investing in Digital Currencies and their derivatives.
You shall assume all risks related to BetFury Crypto Staking and transactions of digital currencies and their derivatives;
BetFury should not be held liable for any such risks or adverse outcomes;
You voluntarily use BetFury Crypto Staking;
You understand the mechanism and algorithm of BetFury crypto staking in total capacity.
You confirm your understanding that BetFury Crypto Staking is not a financial instrument. BetFury Crypto Staking is a product that is designed to attract new audiences to the Betfury platform.
You confirm your understanding that BetFury Crypto Staking is not an activity covered by our gaming license and is offered by Betfury separately from the main activity.
You expressly agree that you assume all risks in connection with your access and use of the services. You further expressly waive and release us from any and all liability, claims, causes of action, or damages arising from or in any way relating to your use of the BetFury Crypto Staking.
You represent that you are at least the age of majority in your jurisdiction and have the full right, power, and authority to enter into and comply with the terms and conditions of this Agreement on behalf of yourself.
By assessing, using or attempting to use BetFury Crypto Staking in any capacity, you acknowledge that you accept and agree to be bound by these Terms. If you do not agree, do not access BetFury Crypto Staking or utilize BetFury Crypto Staking service. You automatically agree to comply with these rules by using BetFury Crypto Staking.
General Provisions
1.Changes to these Terms
BetFury reserves the right to change or amend these Terms at its sole discretion. BetFury will notify about such changes by updating the terms on its website and modifying the “last revised” date displayed in the header of the document. All the changes to these Terms will become effective upon publication on the website or release to users. Hence, your continued use of BetFury Crypto Staking service implies your automatic acceptance of the modified Terms.
If you do not agree to any changes to these Terms, you must refrain from using BetFury Crypto Staking service immediately. BetFury highly recommends you to frequently review these terms to ensure your understanding of the Terms that apply to your use of our staking programs.
2.Staking Programs
BetFury may, but is not obliged to, provide Staking Programs for specific Digital Currencies to reward, as per certain conditions, users who participate in such programs. When making use of such Staking Programs, you should note that:
BetFury has the right to initiate or terminate Staking Program for any Digital Currencies or modify rules of such programs at its sole discretion;
You agree that all investment operation conducted on BetFury represent your true investment intentions and that you unconditionally accept the potential risks and benefits of your investment decision;
When using BetFUry Staking Program you should fully recognize the risks of investing in Digital Assets and operate cautiously;
When providing Digital Assets to BetFury for the purpose of staking, you are prompted to agree with all of the following terms:
The rewards rates or the APRs
The number of Digital Assets offered for staking
The minimum and maximum amount available for staking
The reward distribution frequency for every staking type
The minimum claim amount
The reward distribution ratio
2.1 Flexible Staking
With Flexible Staking there is no need to stake (lock) a specific amount. Once you confirm the Digital Assets you want to participate in our Flexible Staking, we will use your balance as a reference to calculate the rewards.
Flexible Staking consists of rewards that start accruing the minute you subscribe to a specific Digital Currency.
The rewards are distributed every 30 (thirty minutes) and have to be claimed for them to appear in your balance.
The minimum claim amount is $0.10 and BetFury reserves the right to amend this amount at its sole discretion.
Real-Time APR is a live indication of rewards you can receive, and it's subject to change depending on the market conditions.
Rewards from Flexible Staking are provided in tokens of the staked currency. You can also opt for BFG.
Even though the rewards are accrued every 30 minutes, they are not automatically distributed to your game balance and have to be claimed.
Once you claim your rewards from flexible or classic fixed-term pools, 50% of the total amount will be distributed to your balance and the remaining 50% will be linearly distributed to the calendar over the period of 6 (six) days for common users and 3 (three) days for VIP users.
In the event when the rewards are not claimed from the calendar every day, they will be burned.
Flexible Staking does not imply the “lock” of funds on the platform. With Flexible Staking you can make use of your Digital Assets as you wish.
Tiered APRs are APRs that depend on the amount participating in staking and these types of APRs may be available for certain Digital Assets only.
Example: Flexible Staking with Tiered APRs
You subscribed 1,500 USDT to a Flexible Staking Offer for ABC token with the following tiered APRs:
Tier 1: 0 - 500 ABC = 11%
Tier 2: >500 ABC = 6%
Taking the aforementioned conditions into consideration, your rewards after 30 (thirty) days of Flexible Staking will be 9.45 ABC.
500 ABC * (11% / 365 days * 30 days) = 4.52 ABC;
1,000 ABC * (6% / 365 days * 30 days) = 4.93 ABC;
4.52 ABC + 4.93 ABC = 9.45 ABC.
This example is intended to illustrate how Flexible Staking Rewards are calculated. It is not intended to give any representation of the performance of particular Digital Assets nor the volatility of particular Digital Assets or the Digital Asset markets in general. The Digital Assets used in this example are completely fictional.
2.2 Fixed-Term Staking
Rewards
Fixed-Term Staking rewards start accruing at the Fixed-Term Staking Rewards Rate (APR) the day after your subscribe.
Fixed-Term Staking rewards will be calculated on the basis of the number of days elapsed and a 365-day year.
Fixed-Term Staking rewards will be distributed on a daily basis at 01:00 UTC+0.
You do not earn any Fixed-Term Staking rewards for the first day you subscribe.
The rewards will be calculated by reference to the Fixed-Term Rewards Rate (APR) on the day the rewards accrue.
Rewards from Fixed-Term Staking are provided in tokens of the staked currency. You can also opt for BFG.
In the event when your position expires and the auto-subscribe function is disabled, your subscription amount will be automatically transferred to your balance while all the unclaimed rewards have to be claimed manually from the “Active Position” tab.
Example: Fixed-Term Staking
You subscribed 50,000 ABC to a 90 (ninety) days Fixed-Term offer with an APR of 30%. Taking the aforementioned into consideration, your rewards at the Settlement Date would be 50,000 ABC * (30% / 365 days * 90 days) = 3,698.63 ABC.
Claim
Even though the rewards are accrued once a day, they are not automatically distributed to your balance and have to be claimed.
Once you claim your rewards, 50% of the total amount will be distributed to your game balance and the remaining 50% will be linearly distributed to the calendar over the period of 3 (three) days for VIP users and 6 (six) days for common users.
In the event when the rewards are not claimed from the calendar every day, they will be burned.
In the event when your position expires and the auto-subscribe function is disabled, your subscription amount will be automatically transferred to your balance while all the unclaimed rewards have to be claimed manually from the “Active Position” tab.
Changes to Rewards Rate (APR)
The Fixed-Term Staking Rewards Rate (APR) may vary from time to time but all users will be informed about such changes well in advance.
If the Fixed-Term Staking Rewards Rate (APR) gets changed, it will apply from the time and date specified by BetFury. If no time is specified, it will be 00:00 UTC+0 on the day BetFury announces the change will take effect on the platform.
Redemption
BetFury will return the staked assets to your game balance immediately after the end of the Fixed-Term Staking term.
BetFury also permits users to make use of an early redemption.
If you opt for redemption before the settlement date you will be charged with a penalty fee of 5% on your principal amount and you will not be entitled to any Fixed-Term rewards you have managed to claim till that time.
In the event of an early redemption, you authorize BetFury to deduct the penalty fee of 5% from your principal amount and the rewards that you have managed to claim within this position.
In the event of an early redemption, your assets will be redeemed to your balance immediately taking into account all penalty fees.
Example: Early Redemption with Fixed-Term Staking
Let’s take an earlier example with a 90 days lock period and an APR of 30% for ABC tokens. Imagine you decide to make an early redemption of your subscription amount meaning you are willing to return your Digital Assets before the Settlement Date. In this case, early redemption was triggered 40 days after the first interest date. This brings us to the following calculations.
Your rewards after 40 days of staking: 50,000 ABC * (30% / 365 days * 40 days) = 1,643.84 ABC.
Your penalty fee: 50,000 ABC * 5% = 2,500 ABC
Redemption Amount: 50,000 ABC (Principle Amount) - 2,500 ABC (5% Penalty Fee) - 1,643.84 ABC (your claimed rewards) = 45,856.36 ABC.
As can be seen from the above calculations, your redemption amount or the amount that will be returned to your balance as a result of an early redemption is 45,856.36 ABC. Formula for Redemption Amount = Principal Amount - 5% Penalty Fee - All Claimed Rewards.
Auto-Subscription
When you subscribe to Fixed-Term Staking, BetFury may permit you to automatically subscribe to the same Fixed-Term Staking product at the Settlement Date, using the Auto-Subscribe feature. Fixed-Term Staking Rewards generated from the previous Fixed-Term period will not be used when you use the Auto-Subscribe feature.
The new Fixed-Term period will have the same Fixed-Term period as the preceding Fixed-Term period.
Fixed-Term rewards start to accrue from the day you Auto-Subscribe to the new period.
You can amend the Auto-Subscribe feature at any time up until 23:59 UTC+0 the day before the Settlement Date of the preceding Fixed-Term period.
BetFury may refuse to act on your Auto-Subscribe instructions in case the Subscription Limit for a Fixed-Term product has been reached.
Manipulation Events
Changes to the Fixed-Term Rewards Rate may take place and the users will be informed accordingly via our social media channels. BetFury will not be liable for any losses arising from, or connected with, changes to the Fixed-Term Rewards Rate (APR), whether or not you were aware of those changes.
BetFury may stop, suspend or cancel your participation in Flexible and/or Fixed-Term Staking products in the event you create multiple accounts on the platform.
2.3 Fixed-Term Staking with Wager
All the terms and conditions stipulated in the 2.2 section apply to the Fixed-Term Staking with Wager.
Once you subscribe to one/multiple or all Fixed-Term Staking with Wager periods you acknowledge, agree and confirm that you are required to meet the minimum wager requirements for each of Fixed-Term Staking with Wager pools.
In the event that you do not meet the minimum wager requirements you acknowledge, agree and confirm that your Rewards Rate (APR) for that position will be based on the fixed APR of 0%.
If you have multiple Fixed-Term positions that require wager, your wager will be filled to the open positions starting from the lowest amount of wager required to the highest amount. Your accrued wager is distributed to your staking positions based on the amount (from lowest to highest) and not on the subscription date.
In the event when your position expires and the auto-subscribe function is disabled, your subscription amount will be automatically transferred to your balance while all the unclaimed rewards have to be claimed manually from the “Active Position” tab.
Example: you locked 1,000 USDT in a 30 days Fixed-Term with Wager Pool. The multiplier for this pool is set at 3 meaning that in order to receive the APR displayed for this pool on the Staking Page, your last 30 days wager at the moment of rewards distribution has to be at least 3,000 USDT. In the event that at the moment of reward distribution your last 30 days wager is below 3,000 USDT the platform will distribute the rewards based on the APR of 0%.
Minimum wager requirements for each lock period are expressly stipulated on the staking popup. Minimum wager requirements can be modified at BetFury’s sole discretion. In case of any modifications to minimum wager requirements, the updated amounts will be depicted on the staking page but there will be no announcement via social media channels.
2.4 Wager Accrual
2.4.1 Original Games & Slots
For all Original games the multiplier is set at 0.75. Thus, for every 1,000 USD in bet amount, users will accumulate 750 USD in wager. For all slot games, the multiplier is set at 1, meaning that for every 1,000 USD in bet amount, users will accumulate 1,000 USDT in wager.
2.4.2 Sports Betting
In case of Sports Betting, the multiplier is set at 3. This signifies that for every 1,000 USDT in bet amount, users will accumulate 3,000 USD in wager.
2.4.3 Exclusions
Wager accrual does not apply to Live, Table and Special Games and is expressly excluded from the wager accrual process.
2.4.5 Modification of Multipliers
BetFury retains the right to modify the multipliers delineated in Sections 2.4.1, 2.4.2, 2.4.3 at its sole discretion and without prior notice. Any such modifications will be incorporated into the Terms of Use, hence, you should refer to these Terms on a regular basis.
2.5 Definitions
Early Redemption means ending your participation in the Fixed-Term product before the Settlement Date.
Eligible Fixed-Term Assets means Digital Assets selected by BetFury that are available for staking.
Locked Distribution Frequency means the time or frequency at which Fixed-Term Staking Rewards will be distributed to your game balance and your calendar.
Settlement Date means the last day of the Fixed-Term staking .
Rewards mean the returns you get on your subscription amount based on the Rewards Rate (APR).
Rewards Rate (APR) means the annual percentage rate at which Rewards are earned by you.
Subscription Amount means the amount you are willing to stake in the Fixed-Term Staking offerings.
Subscriptions Limits means the maximum amount of Fixed-Term Assets, or the quantity of any other matter that BetFury may determine at its sole discretion from time to time, that may be used to limit your ability to Subscribe to Flexible or Fixed-Term Staking.
Minimum wager requirements means the minimum amount of wager you are supposed to have in order to receive the APR for the pool you subscribed to.
3.Obligations and Warranties
By using the BetFury Crypto Staking you hereby undertake to:
Use only ONE Betfury account;
Use the Betfury Account, the Betfury Platform, the Betfury Crypto Staking in good faith;
Not violate or breach any terms of these Terms, and other platform documents, or any Applicable Law in any relevant jurisdiction;
Not commit, conduct or perform any misrepresentation, fraud, malicious act or criminal activities;
Not provide false, inaccurate, incomplete, out-of-date or misleading information;
Not interfere, intercept, or expropriate our network, system, data, or information;
Not transmit or upload any virus or other malicious software or program, or try to gain unauthorized access to other users’ accounts, website, network or systems concerning the Betfury Crypto Staking;
Not decompile, reverse engineer or disassemble any of our programs, systems or products, or in any way infringe the Intellectual Property rights and/or such of our partners;
Not cause or launch any programs or scripts for the purpose of scraping, indexing, surveying, or otherwise data mining any portion of any of our programs, systems or products, or unduly burdening or hindering the operation and/or functionality of any aspect of the Betfury Crypto Staking;
Keep the data required for using the Betfury Account unavailable for third parties;
Inform Betfury about any change in the information and documents submitted to Betfury, in particular in your contact details, within 1 (one) day of the change.
Comply with these Terms and other Betfury Platform Terms.
The list of obligations defined in this section is not exhaustive. If other obligations arise from the mechanics of using Betfury Crypto Staking or from other provisions of these Rules, the User is obliged to fulfill them.
4.Limitation of Liability
The BetFury Crypto Staking and any related products or services are offered on a strictly “as-is” and “where-available” basis and Betfury expressly disclaims, and you waive, all warranties of any kind, whether express or implied. Without limiting the generality of the foregoing, the BetFury Crypto Staking and any related products or services are offered without any warranty as to merchantability or fitness for any particular purpose.
You acknowledge and agree that the use of the BetFury Crypto Staking is at your own risk. To the maximum extent allowed by law, Betfury, its affiliates and subsidiaries, its licensors, and their respective employees, contractors, agents, suppliers, and vendors shall have no liability or responsibility whatsoever for any damages or loss - whether direct or indirect, consequential, incidental, punitive or otherwise - arising in connection with BetFury Crypto Staking or any data or values relating thereto, whether arising out of negligence or otherwise. Without limiting any of the foregoing, in no event shall Betfury have any liability for any lost profits or indirect, punitive, special or consequential damages or losses, even if notified of the possibility thereof.
BetFury does not bear any responsibility in the case of loss of funds, which occurred because of illegal actions of third parties, in particular, but not exclusively in the case of hacker attacks, DDOS attacks, and other actions of third parties, which are aimed at acquiring funds.
We assume no liability or responsibility for any:(a) errors, mistakes, or inaccuracies of content and/or software, or services, proposed by BetFury;(b) interruption or cessation of function related to the software and BetFury Crypto Staking services;(c) bugs, viruses, trojan horses, or the like that may be transmitted to or through the website;(d) errors or omissions in, or loss or damage incurred as a result of the use of any services from the BetFury website.
5.Taxation
The User shall be responsible for payment of all applicable taxes, if any, to which the Staking Rewards might be subject and any and all other taxes that may apply to the User. Betfury makes no representations in this regard. The User agrees to indemnify and hold Betfury harmless against any taxes, including penalties, duties, and interest levied by any government on the Staking Rewards.
BetFury shall not be required to compensate you for your tax obligations or advise you in relation to your tax issues. The uncertainty in tax legislation relating to the Digital Assets may expose you to any currently unknown or future tax consequences, associated with your holding of Digital Assets and the use of the BetFury Crypto Staking, for which BetFury shall not be held liable. You shall hold BetFury harmless from any expenses and losses, resulting from the above uncertainty.
6.Anti-Money Laundering, Suspension and Termination
The Digital Assets, which you have topped up or will top up into your BetFury account, or the funds, which you have used or will use for the purchase of the Digital Assets to be topped up into your BetFury account and which you will use in BetFury Crypto Staking are not derived from money laundering, terrorist financing, fraud or any other illegal or criminal activity under any Law in the respective jurisdiction.
We may be forced to suspend, discontinue, or change aspects of the BetFury Crypto Staking in any jurisdiction, without notice, if demanded by the regulators or Applicable Law, or for whatever other reason. In this case, the Digital Assets in your BetFury Account may be frozen for an indefinite period of time until the matter is resolved.
BetFury reserves the right, without explaining the reason, to ask you for confirmation of the origin of the funds which you have topped up or will top up into your BetFury account, or the funds, which you have used or will use for the purchase of the Digital Assets to be topped up into your BetFury account. Betfury reserves the right to freeze your funds until you confirm the origin of these funds.
BetFury reserves the right to restrict, suspend or terminate access to BetFury Crypto Staking without notice where:
We reasonably suspect that you or your BetFury Account and/or BetFury Crypto Staking and/or money on it is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime;
You use multiple accounts to bypass the AML policy or to abuse the system.
Your BetFury Account and/or BetFury Crypto Staking is the subject of any legal, regulatory or government process and/or we, in our sole discretion, consider there to be a heightened risk of legal or regulatory non-compliance;
Suspicious accounts can also be considered accounts that have no activity on the platform and/or perform the same type of operations for a certain period of time.
BetFury reserves the right to require the user to withdraw funds to the same wallet from which the deposit was made.
BetFury also reserves the right, in the event of suspicion of a violation of the AML policy, to require you to undergo a KYC at any stage of interaction, both at the stage of depositing funds and during their withdrawal. This requirement is mandatory for all users of the Betfury platform.
For flexible staking, the requirement that all crypto deposits must meet a basic rollover requirement is applied. A rollover means that all users must make a 100% wager for the gaming or 300% for the sports betting from the coming deposit before a withdrawal can be made. This rule does not apply to fixed staking, provided that the entire amount of the deposit is made to the fixed staking. If the part amount of the deposit is made to fixed staking, then the rollover requirement is applied to the remaining amount that is not made to fixed staking.
BetFury will make all reasonable efforts to provide you with notice of any decision to restrict, suspend or terminate your BetFury Account and/or the BetFury Crypto Staking services that BetFury offers, unless we are prevented from doing so by any legal or regulatory process or requirement, or where doing so may compromise BetFury’s security and/or risk management procedures. You accept and agree that Betfury is under no obligation to disclose to you the fact of or reason for any decision to restrict, suspend or terminate your BetFury Account and/or the BetFury Crypto Staking services, and shall have no liability to you in connection with the restriction, suspension or termination of your BetFury Account.
BetFury Crypto Staking is subject to all AML requirements defined by the Betfury platform Terms and Conditions.
7.Restrictions
You represent that you are not (a) the subject of economic or trade sanctions administered or enforced by of United Nations, European Union, and United States of America or otherwise designated on any list of prohibited or restricted parties by any governmental authority or (b) a citizen, resident, or organized from the country or territory which is a subject of economic or trade sanctions enforced by of United Nations, European Union, and United States of America.
You are not permitted to access or use Betfury Crypto Staking in any jurisdiction or country if it would be contrary to the law or regulation of that jurisdiction or if it would subject us to the laws of, or any registration requirement with, such jurisdiction. We reserve the right to limit the availability of Betfury to any person, geographic area, or jurisdiction, at any time and at our sole and absolute discretion.
Access to Betfury Crypto Staking is prohibited to wallets and persons who are citizens and/or residents of the United States of America. Access to Betfury Crypto Staking is prohibited to wallets and persons located in, established in, or a resident of Belarus, Myanmar (Burma), Côte D'Ivoire (Ivory Coast), Cuba, Crimea and Sevastopol, the so-called Donetsk People’s Republic, Democratic Republic of Congo, Iran, Iraq,Gaza, Libya, the so-called Luhansk People’s Republic, Mali, Nicaragua, Democratic People’s Republic of Korea (North Korea), Russia, Somalia, Sudan, Syria, Yemen, Zimbabwe. The use of software to change the IP address by citizens or residents of the countries defined in this clause will be considered a gross violation of these Terms and will give Betfury the right to confiscate the deposited funds and block access to such a person. Confiscated funds may be returned subject to confirmation of the legality of the origin of such funds and full-person verification.
YOU ARE RESPONSIBLE FOR DETERMINING WHETHER THE USE OF THE BETFURY CRYPTO STAKING IS LEGAL IN YOUR JURISDICTION AND YOU SHALL NOT USE IT SHOULD SUCH USE BE ILLEGAL IN YOUR JURISDICTION. IF YOU ARE UNCERTAIN, PLEASE SEEK INDEPENDENT LEGAL ADVICE.
8.Service Availability
While we will do everything we can to provide continuous operations, Betfury does not provide any warranty or guarantee in relation to the availability of the Betfury Crypto Staking. Without limiting the generality of the foregoing, we do not guarantee continuous access to the Betfury or to the Betfury Crypto Staking, and make no representation that the Betfury and/or the Betfury Crypto Staking offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions or loss of transmitted information.
9.Final Provisions
This document may have been translated and published in different languages. In the event of any inconsistency, misstatements, omissions, or errors appearing in any translated version, the English version shall prevail.
You confirm that you are familiar with these Terms and that you fully understand them. These Terms are mandatory for everyone using BetFury Crypto Staking service. By using it, you accept these Terms and undertake to comply with them. These Terms are binding on all users, without exception.By using Betfury Crypto Staking, you automatically agree to these Terms and undertake to comply with them.
This Document, together with the Betfury Terms and Conditions, the Privacy Policy and other Betfury platform`s rules, represents the entire agreement between you and Betfury in relation to the use of the BetFury Crypto Staking.
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