Platform Terms of Service — BetsWave Distributed Wagering Protocol
Effective Date: 8th June 2026
www.betswave.io · contact@betswave.io
PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE ACCESSING OR USING THE BETSWAVE PLATFORM.
BY ACCESSING OR USING THE PLATFORM, YOU AGREE TO BE LEGALLY BOUND BY THESE TERMS. IF YOU DO NOT AGREE, YOU MUST IMMEDIATELY CEASE USE OF THE PLATFORM.
In these Terms and Conditions, the following capitalized terms have the meanings set out below:
| Defined Term | Meaning |
|---|---|
| AML | Anti-money laundering laws, regulations, and guidelines applicable in relevant jurisdictions. |
| Company / BetsWave / we / us / our | BetsWave, a company registered and operated in Costa Rica, operating the Platform. |
| Content | All text, graphics, images, software, data, and other materials made available through the Platform. |
| Excluded Territory | Any jurisdiction listed in Schedule 1 of these Terms, as updated from time to time, from which access to the Platform is prohibited or restricted. |
| General Wager | A pool-based wagering format in which a User wagers against the protocol's pooled liquidity reserves. |
| KYC | Know Your Customer verification procedures requiring Users to provide identity and address verification documentation. |
| ORCA NFT | A soulbound (non-transferable) membership NFT issued by BetsWave, providing access to enhanced Platform features on a subscription basis. |
| Platform | The BetsWave website (www.betswave.io), mobile and web applications, smart contracts, APIs, and all associated services. |
| Privacy Policy | BetsWave's privacy policy, as amended from time to time, available at www.betswave.io/privacy. |
| Smart Contract | Self-executing software code deployed on the Hedera Hashgraph network that governs Platform transactions. |
| Technology Fee | The fee deducted from each wager as compensation for Platform technology infrastructure and development. |
| Terms / Terms and Conditions | This agreement, including all Schedules and incorporated documents. |
| User / you / your | Any natural person or legal entity accessing or using the Platform. |
| WAVE Token | The utility token native to the BetsWave ecosystem, used for Platform functions. |
| Whale Wager | A peer-to-peer wagering format in which Users create or accept specific wager terms directly with counterparties. |
| Whitepaper | BetsWave's technical whitepaper, as amended, available at www.betswave.io/whitepaper. |
By accessing, browsing, registering on, or using the Platform in any manner, you confirm that you have read, understood, and agree to be legally bound by these Terms, the Privacy Policy, and the Disclaimer, each of which is incorporated herein by reference. These documents collectively constitute the entire agreement between you and BetsWave with respect to your use of the Platform.
If you are accessing the Platform on behalf of a legal entity, you represent and warrant that you have full authority to bind that entity to these Terms, and all references to 'you' shall include both you as an individual and that entity.
BetsWave reserves the right to amend these Terms at any time. Material amendments will be communicated via email or platform notice with at least fourteen (14) days' prior notice. Continued use of the Platform following the effective date of any amendment constitutes acceptance of the amended Terms. It is your responsibility to review these Terms periodically.
If you do not agree to these Terms or any amendment thereof, your sole and exclusive remedy is to immediately cease use of the Platform.
3.1.1 You must be at least eighteen (18) years of age, or such higher minimum legal age for gambling or digital asset participation as prescribed by the laws of your jurisdiction of residence, to access or use the Platform. By accessing the Platform, you represent and warrant that you satisfy this requirement.
3.1.2 You must have full legal capacity to enter into binding contracts under the laws of your jurisdiction. Persons lacking legal capacity may not access or use the Platform.
3.2.1. The Platform is operated from Costa Rica. BetsWave makes no representation that the Platform, WAVE Tokens, ORCA NFTs, or wagering services are lawful, available, or appropriate for use in any jurisdiction outside of Costa Rica.
3.2.2. You are solely and exclusively responsible for determining whether your access to and use of the Platform, and any acquisition or disposal of WAVE Tokens or ORCA NFTs, is lawful in your jurisdiction.
3.2.3. Access to the Platform is prohibited for residents of and persons located in Excluded Territories. A current list of Excluded Territories is maintained in Schedule 1 to these Terms, which may be updated by BetsWave from time to time without prior notice. It is your responsibility to check whether your jurisdiction is an Excluded Territory before accessing the Platform.
3.2.4. Without limiting the foregoing, users located in jurisdictions where online sports wagering, participation in token sales, or acquisition of digital assets is prohibited or requires regulatory authorization are expressly prohibited from using the Platform.
3.2.5. VPN and Proxy Use: Use of a virtual private network, proxy service, Tor network, or any other technology to circumvent jurisdictional access restrictions is expressly prohibited. BetsWave may implement technical measures to detect and block such circumvention attempts. You acknowledge that BetsWave bears no liability for any consequences arising from access via such technologies, including any legal liability you may incur under the laws of your actual jurisdiction.
3.3.1. Access to certain Platform features may be conditioned upon successful completion of KYC and AML verification procedures. You agree to provide accurate, complete, and up-to-date information required for verification and to promptly update such information if it changes.
3.3.2. BetsWave reserves the right to restrict or suspend access to users who fail to complete required verification, whose verification cannot be confirmed, or whose verification reveals information that would prohibit their access under applicable law or these Terms.
3.3.3. You represent and warrant that: (a) you are not the subject of any sanctions administered by any governmental authority; (b) you are not a politically exposed person (PEP) without first disclosing this status to BetsWave; (c) funds used on the Platform are from lawful sources; and (d) you will not use the Platform in connection with any money laundering, terrorist financing, or other illegal financial activity.
4.1. BetsWave provides a decentralized technological infrastructure platform that facilitates sports wagering through smart contract-governed protocols. BetsWave functions exclusively as a technology provider.
4.2. The Platform does not constitute and is not intended to constitute: (a) financial, investment, or securities advice; (b) legal or tax advice; (c) brokerage, exchange, banking, or custody services; (d) a regulated gambling service in any jurisdiction other than as expressly licensed; or (e) any other form of regulated professional service.
4.3. BetsWave makes no representation or warranty regarding the continuous, uninterrupted, error-free, or secure availability of the Platform. The Platform may be subject to scheduled or unscheduled downtime, maintenance, technical failures, blockchain network congestion, or third-party service interruptions. BetsWave's limitation of liability with respect to service availability is set out in Article 15.
4.4. Smart Contract Finality: All wager executions, settlements, and fund releases are governed by Smart Contracts. Smart Contract outcomes are final, binding, and irreversible once confirmed on the Hedera Hashgraph network. BetsWave does not have the ability to reverse, modify, or override confirmed Smart Contract transactions. By using the Platform, you accept Smart Contract execution as final and waive any right to dispute settlements resulting from Smart Contract outcomes.
4.5. Oracle Dependency: Settlement accuracy depends on third-party sports data feeds and oracle systems. BetsWave is not liable for settlement errors caused by inaccurate, delayed, or unavailable third-party data. See the Risk Factors set out in the Whitepaper for a full discussion of this dependency.
5.1. Certain Platform features may require account registration. You agree to provide accurate and complete information during registration and to maintain the accuracy of that information throughout your use of the Platform.
5.2. You are solely responsible for maintaining the confidentiality and security of your account credentials, wallet private keys, seed phrases, and all authentication information. You agree to immediately notify BetsWave at contact@betswave.io of any unauthorized access to or use of your account.
5.3. BetsWave is not responsible for any loss, theft, or compromise of wallet credentials, private keys, or seed phrases, and cannot recover, restore, or replace such information. The permanent loss of access to a wallet due to loss of private keys is a material and foreseeable risk that you accept as a condition of using the Platform.
5.4. You agree not to: (a) share your account credentials with any third party; (b) use another user's credentials; (c) create multiple accounts for the purpose of evading restrictions or accumulating benefits; or (d) use automated scripts or bots to interact with the Platform without BetsWave's prior written consent.
6.1. WAVE Tokens are utility tokens designed exclusively for functional use within the BetsWave ecosystem. They are not, and are not intended to constitute, securities, investment contracts, equity instruments, or profit-participation rights in any jurisdiction. The acquisition of WAVE Tokens does not create any ownership interest in BetsWave, does not entitle the holder to any dividend, revenue share, or financial return, and does not create any fiduciary obligation on the part of BetsWave.
6.2. By acquiring WAVE Tokens, you acknowledge and represent that: (a) you are acquiring them solely for utility use within the Platform; (b) you are not acquiring them with an expectation of profit derived from the efforts of BetsWave or others; (c) you understand that WAVE Tokens may have no secondary market liquidity; and (d) the market value of WAVE Tokens may decline to zero.
6.3. Token purchases in connection with any Private Sale or ICO are subject to applicable sale terms communicated to you at the time of purchase, which supplement and are incorporated into these Terms. All token purchases are final and non-refundable except as expressly provided in the applicable sale terms.
6.4. Vesting schedules applicable to WAVE Token allocations are as described in the Whitepaper and any applicable token sale documentation. BetsWave reserves the right to enforce vesting restrictions through Smart Contract mechanisms. WAVE Tokens are not offered or sold to residents of Excluded Territories or persons who are prohibited from acquiring digital assets under applicable law. You represent and warrant that your acquisition of WAVE Tokens is lawful in your jurisdiction.
7.1. ORCA NFTs are soulbound (non-transferable) ERC-721 tokens issued as platform membership instruments. They confer access to enhanced Platform features as described in the Whitepaper and on the Platform, subject to these Terms and any applicable membership terms.
7.2. ORCA NFT memberships operate on a yearly subscription model across ten (10) tiers. Tier pricing and associated membership benefits are as described in the Whitepaper and may be modified through the platform governance process upon notice to holders.
7.3. ORCA NFTs are non-transferable by design. Any purported transfer of an ORCA NFT is invalid and will not be recognized by the Platform. ORCA NFT membership rights are personal to the registered account holder and may not be sold, licensed, assigned, pledged, or otherwise encumbered.
7.4. BetsWave reserves the right to modify, suspend, or discontinue any ORCA NFT membership benefit at any time, including through the governance process. Changes to benefits will be communicated to ORCA NFT holders with reasonable notice. No modification of membership benefits creates any right to a refund of previously paid membership fees.
7.5. ORCA NFTs are platform membership instruments only. They do not represent equity, profit-sharing rights, ownership of BetsWave, or any other financial interest. Membership subscription fees are paid for access to platform features and are not investments.
8.1.1. All wagering activity on the Platform is conducted through Smart Contracts. By placing a wager, you irrevocably instruct the applicable Smart Contract to process your wager in accordance with its programmed logic. You acknowledge that wager outcomes are determined by Smart Contract execution and verified on-chain data, and that BetsWave has no ability to influence, alter, or override such outcomes.
8.1.2. The Technology Fee is deducted automatically from each wager at the applicable rate. You acknowledge that the Technology Fee is non-refundable once deducted.
8.1.3. You represent and warrant that all wagers are placed for lawful purposes only, using funds derived from lawful sources, and in compliance with all applicable laws in your jurisdiction. Wagering for money laundering, fraud, or any other illegal purpose is strictly prohibited.
8.2.1. General Wagers are placed against the protocol's pooled liquidity reserves. Settlement is automatic upon verification of match outcome data by the applicable oracle or data feed. You acknowledge the data provider dependency described in Article 4.5.
8.2.2. Wagers entered into Created/Pending status may be cancelled by the system where match data is unavailable, where the match does not proceed, or where other conditions specified in the Smart Contract are not satisfied, in which case staked amounts will be returned net of applicable network transaction costs.
8.3.1. Open Bets may be partially filled. Once a portion of a Whale Wager is accepted and executed on-chain, that portion is final and binding.
8.3.2. Closed Bets execute automatically upon reaching 100% fill before the applicable deadline. If a Closed Bet does not reach full fill before the deadline, committed funds are automatically returned to all participants net of applicable network transaction costs.
8.3.3. Private Wagers shared via invite link are governed by the same Smart Contract logic and settlement mechanics as public wagers. BetsWave bears no responsibility for the identity, eligibility, or conduct of participants invited through private links.
8.3.4. Odds on Whale Wagers are locked at the time of bet creation or acceptance, as applicable. BetsWave is not responsible for any losses resulting from odds movements prior to acceptance.
8.4.1. You acknowledge that wagering involves financial risk and that losses are possible, including total loss of staked amounts. You confirm that you are participating of your own free will, using funds you can afford to lose, and that you are not suffering from a gambling disorder at the time of participation.
8.4.2. Platform self-exclusion, wagering limit tools, and responsible wagering resources are available through the Platform. BetsWave encourages their use where appropriate. Details are set out in the Whitepaper Section 7.
9.1. Participation in the Platform's staking pool mechanics is exclusively available to active ORCA NFT holders. Staking participation is entirely voluntary.
9.2. Staking pool participation does not constitute an investment, deposit, loan, or any form of regulated financial product. No guarantee is made of any particular distribution amount. Distribution levels are variable and depend on platform activity, Technology Fee revenue, and the applicable emission schedule.
9.3. Lock-in periods of 30 days or 90 days are available. Tokens subject to a lock-in period may not be withdrawn during that period, except as permitted by the applicable Smart Contract and subject to applicable network transaction fees.
9.4. The tax treatment of staking distributions is uncertain and may vary by jurisdiction. You are solely responsible for determining and satisfying all tax obligations arising from staking participation. Staking distributions are not guaranteed returns, yields, dividends, or profit shares. They are variable platform-generated distributions from Technology Fee revenue and pre-allocated token pools. BetsWave makes no representation that staking participation will generate any positive financial outcome.
You agree that you will not, directly or indirectly:
11.1. All Platform content, including logos, trademarks, trade names, software, source code, user interfaces, graphics, text, and data compilations, is the exclusive intellectual property of BetsWave or its licensors and is protected by applicable intellectual property laws. BetsWave reserves all rights not expressly granted.
11.2. Subject to these Terms, BetsWave grants you a limited, non-exclusive, non-transferable, revocable licence to access and use the Platform for personal, non-commercial purposes only. This licence does not include any right to: (a) copy, reproduce, distribute, or commercially exploit any Platform content; (b) reverse engineer or decompile Platform software; or (c) create derivative works based on Platform content.
11.3. The BetsWave name, logo, and associated trademarks may not be used in any manner without BetsWave's prior written consent.
By accessing and using the Platform, you represent and warrant that:
13.1. The Platform may integrate with or link to third-party services, including blockchain networks, oracles, data providers, wallets, exchanges, DApps, and analytics tools. These third-party services are independent of BetsWave and are governed by their own terms and conditions.
13.2. BetsWave does not endorse, control, or assume responsibility for any third-party service. Your interactions with third-party services are at your own risk. BetsWave is not liable for any loss arising from your use of third-party services accessed through or in connection with the Platform.
13.3. Settlement accuracy depends on third-party oracle and data provider systems. BetsWave is not liable for settlement errors, delays, or incorrect outcomes attributable to third-party data failures, as further described in Article 4.5.
14.1. The Platform and all Services are provided 'as is' and 'as available,' without warranty of any kind, express or implied. BetsWave expressly disclaims all warranties, including but not limited to implied warranties of merchantability, fitness for a particular purpose, non-infringement, accuracy, completeness, and availability.
14.2. BetsWave does not warrant that: (a) the Platform will operate without interruption, error, or delay; (b) any defects or errors will be corrected; (c) the Platform is free from viruses or harmful components; (d) Smart Contract execution will be error-free; or (e) any financial outcome from wagering or staking will be positive.
14.3. No statement made by BetsWave in the Whitepaper, on the Platform, or in any communication constitutes a warranty, representation, or guarantee of any financial outcome, token value, platform performance, or regulatory compliance in any jurisdiction.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE BETSWAVE PARTIES SHALL NOT BE LIABLE TO ANY USER OR THIRD PARTY FOR ANY LOSS, DAMAGE, COST, OR EXPENSE OF ANY KIND — WHETHER DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE — ARISING FROM OR IN CONNECTION WITH: (A) USE OF OR INABILITY TO USE THE PLATFORM; (B) ANY WAGERING OUTCOME OR RESULT; (C) SMART CONTRACT EXECUTION ERRORS, VULNERABILITIES, OR EXPLOITS; (D) ORACLE OR DATA FEED FAILURES; (E) LOSS OR COMPROMISE OF WALLET CREDENTIALS OR PRIVATE KEYS; (F) TOKEN VALUE FLUCTUATION OR LOSS; (G) SERVICE INTERRUPTIONS; (H) UNAUTHORIZED ACCOUNT ACCESS; (I) REGULATORY ACTIONS IN ANY JURISDICTION; OR (J) ANY OTHER MATTER ARISING FROM USE OF THE PLATFORM, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.
Where liability cannot be entirely excluded under applicable mandatory law, BetsWave's aggregate liability to you for all claims arising in connection with these Terms or the Platform shall be limited to the total Technology Fees paid by you to BetsWave in the sixty (60) days immediately preceding the event giving rise to the claim.
You acknowledge that the limitations of liability in this Article reflect a fair and reasonable allocation of risk and constitute an essential element of the basis of the bargain between you and BetsWave. Without these limitations, BetsWave would not be able to provide the Platform at the current fee levels.
You agree to defend, indemnify, and hold harmless BetsWave, its affiliates, officers, directors, employees, contractors, agents, and successors from and against any and all claims, damages, liabilities, losses, costs, and expenses (including reasonable attorneys' fees) arising out of or relating to: (a) your breach of these Terms; (b) your violation of any applicable law or regulation; (c) your use of the Platform from an Excluded Territory; (d) your use of VPN or proxy services to circumvent access restrictions; (e) any third-party claim arising from your conduct on the Platform; or (f) any misrepresentation made by you in connection with your use of the Platform.
17.1. BetsWave reserves the right, in its sole discretion, to suspend, restrict, or terminate your access to the Platform at any time, with or without notice, including where: (a) you have violated these Terms; (b) we have reason to believe you are accessing from an Excluded Territory; (c) required by applicable law or regulatory obligation; (d) your account is subject to legal proceedings, a freezing order, or regulatory investigation; or (e) continued operation of your account presents a risk to the Platform or other users.
17.2. You may close your account at any time by contacting BetsWave at contact@betswave.io. Account closure does not affect any obligations that arose prior to closure, and any pending wager obligations will be settled in accordance with the applicable Smart Contract.
17.3. The following provisions survive termination of these Terms: definitions, representations and warranties, limitation of liability, indemnification, governing law and dispute resolution, and any other provision that by its nature should survive.
18.1. These Terms shall be governed by and construed in accordance with the laws of Costa Rica, without regard to any conflict of laws principles that would require the application of the law of any other jurisdiction.
18.2. Any dispute, controversy, or claim arising out of or in connection with these Terms, or the breach, termination, or invalidity thereof, shall first be subject to good-faith negotiation between the parties. If a dispute is not resolved by negotiation within thirty (30) days of written notice, the dispute shall be referred to and finally resolved by binding arbitration under internationally recognized arbitration rules, as agreed between the parties or, failing agreement, under the rules of the ICC International Court of Arbitration. The seat of arbitration shall be San José, Costa Rica. The language of arbitration shall be English.
18.3. Class Action Waiver: To the maximum extent permitted by applicable law, you waive any right to bring any claim as a class action, collective action, or representative proceeding. All disputes must be brought on an individual basis only.
18.4. Nothing in this Article prevents BetsWave from seeking urgent injunctive or other equitable relief from any court of competent jurisdiction where necessary to protect its intellectual property, confidential information, or other proprietary rights.
18.5. If you are a consumer in a jurisdiction that requires disputes to be resolved in that jurisdiction, this Article shall apply to the extent permitted by law in that jurisdiction.
19.1. Severability: If any provision of these Terms is held invalid, illegal, or unenforceable under applicable law, that provision shall be modified to the minimum extent necessary to make it enforceable.
19.2. Entire Agreement: These Terms, together with the Privacy Policy, Disclaimer, Whitepaper, and any applicable token sale documentation, constitute the entire agreement between you and BetsWave concerning the Platform and supersede all prior agreements and understandings.
19.3. No Waiver: BetsWave's failure to enforce any right or provision of these Terms shall not constitute a waiver of that right or provision.
19.4. No Assignment: You may not assign or transfer your rights or obligations under these Terms without BetsWave's prior written consent. BetsWave may assign these Terms in connection with a corporate restructuring, merger, acquisition, or sale of assets.
19.5. Force Majeure: BetsWave shall not be liable for any failure or delay in performance resulting from causes beyond its reasonable control, including blockchain network failures, governmental actions, natural disasters, pandemics, civil unrest, or internet infrastructure failures.
19.6. No Fiduciary Duty: Nothing in these Terms creates any fiduciary, advisory, trust, or similar relationship between BetsWave and you. BetsWave acts solely as a technology infrastructure provider.
19.7. Electronic Communications: You consent to receive communications from BetsWave electronically, including by email and platform notification. Electronic communications satisfy any legal requirement for written communication.
19.8. Language: These Terms are published in English. In the event of any inconsistency between an English version and any translation, the English version shall prevail.
For questions or notices under these Terms, please contact BetsWave at contact@betswave.io or through the Platform at www.betswave.io.
The following jurisdictions are currently designated as Excluded Territories for the purpose of these Terms. This list is subject to update by BetsWave at any time without prior notice. Users are responsible for monitoring this Schedule.
This Schedule will be updated as regulatory conditions change. Users are responsible for verifying whether their jurisdiction is an Excluded Territory before each use of the Platform. The current version of this Schedule is published at www.betswave.io/legal.