1. Overview
BetFund ("the Fund") is a sports betting investment fund operated by an individual fund manager ("the Operator"). By creating an account and depositing funds, you ("the Investor") agree to these terms.
2. Fund Structure
The Fund pools investor deposits and places algorithmic sports bets. Your deposit is converted to fund shares at the current Net Asset Value (NAV) price. You own a proportional share of the fund, not individual bets.
The Operator manages all betting decisions. Investors cannot direct, influence, or veto specific bets.
3. Deposits and Withdrawals
- Deposits: Accepted via Bitcoin Lightning Network or on-chain BTC. Minimum deposit: 50,000 sats (0.5 mBTC). Deposits are converted to shares at the prevailing NAV price after a 1% dilution fee.
- Withdrawals: Available at any time, subject to fund liquidity. Processed via Lightning Network. A 33.3% performance fee applies to profits above your personal high-water mark.
- Processing: Deposits and withdrawals are processed automatically via the Boltz exchange bridge. Processing times depend on network conditions and typically complete within minutes.
4. Fee Structure
- Dilution fee: 1% on deposits, distributed proportionally among all existing investors to protect against dilution.
- Performance fee: 33.3% of profits above your high-water mark, charged at withdrawal. If the fund has not generated profit for you, no performance fee is charged.
- Management fee: None. No annual, monthly, or subscription fees.
- Network fees: Bitcoin transaction fees and Boltz bridge fees are deducted from deposits/withdrawals at processing time.
5. No Guarantee of Returns
Past performance does not guarantee future results. The Fund engages in sports betting, which is inherently risky. You may lose some or all of your deposited funds. The Operator makes no promises, projections, or guarantees about returns.
6. Investor Accounts
- You are responsible for maintaining the security of your account credentials.
- Passwords must be at least 12 characters.
- The Operator may deactivate accounts with zero balance at their discretion.
- One account per person. Duplicate accounts may be merged or deactivated.
7. Operator Rights
The Operator reserves the right to:
- Modify the betting strategy at any time without notice.
- Adjust fee percentages with 30 days notice to existing investors.
- Pause deposits or withdrawals temporarily for technical or operational reasons.
- Wind down the Fund, returning all remaining capital to investors proportionally.
8. Limitation of Liability
The Fund is provided "as is." The Operator is not liable for losses arising from:
- Normal betting losses (the core risk of the fund).
- Bitcoin price volatility (the Fund is denominated in BTC, not fiat).
- Technical failures of third-party services (Boltz, Lightning Network, betting platform).
- Temporary unavailability of deposits or withdrawals.
The Operator's total liability shall not exceed the value of your current fund balance.
9. Dispute Resolution
Any disputes will be resolved through direct communication with the Operator. The immutable transaction log and fund audit trail serve as the authoritative record of all fund operations.
10. Amendments
These terms may be updated. Material changes will be communicated to investors. Continued use of the Fund after changes constitutes acceptance.