it seems like you are really breaking their rules
no, it doesn't. there is no evidence presented from either sides, so it's their words vs OP words.
If they are so sure about their decision then why did they offer him a refund of ~$900?
they are not giving him money he won. the $897.11 is just his initial deposit that they are letting him withdraw before closing his account. (at least they didn't take as well, like some others do)
@OP, if you are confident you didn’t violate any of their terms and didn’t try to cheat their system, then the best you can do at this point is to make some noise on their social media pages to draw more attention to your case. Maybe this will force them to take a second look and investigate it more thoroughly.
and if he still has access to his account, he should post screenshots of the bets details they are accusing him of value betting on, it should be easy to verify if he did value bet by comparing betby odds (winna sports provider) with other providers odds at the time he placed those bets.