SBR review: Charter

Western Union Sportsbook SCAM claims new victim

Poland-based con artists, previously behind CypressSportsbook (SBR rating F-) and CreditSportsbook (SBR rating F-), strike again as LasVegasSportsbookDK. The con follows the same course. A tout establishes a relationship with a gambler before referring the player to a sportsbook where he is promised a line of credit after an initial investment. The player is then asked to Western Union funds to Poland. History suggest LasVegasSportsbookDK.com will be off-line shortly and the handicapper phone numbers will soon be disconnected.

SBR Bill Dozer reports:

CypressSportsbook scammers back in business as CreditSportsbook(SBR rating F-). The scam is initiated when a sports tout recommends the player invest in a credit line at a specific online sportsbook. The bettor is promised a large line of betting credit if he will make an initial investment. Once the player has sent money the scammers bill the player for additional "fees" and new "administrative costs" until the player has finally had enough and refuses to send additional funds. As was the case with Cypress Sportsbook, the players have sent funds via Western Union to a Yosef Levine. Recipient names also included Eva Rowinska; both were collected in Poland. Randy Levine was the recipient of a bank wire.
Players should use caution when utilizing Western Union due to its anonymous nature. Read about similar Western Union scams here.

SBR Bill Dozer reports:

Player reports elaborate con involving Detroit radio station tout and CypressSportsbook (not rated). The details of the scam draw many similarities to the BetCharter(SBR rating F-) SCAM of 2004. This report is still unfolding.

BetRoyal (SBR rating D) exits the credit business.

Operating under BetMidas.com, Royal Sports attempt at the credit side of the business is finally over. BetMidas and BetCharter were both unprofitable and highly problematic involving scam artists and stiff agents. The move is a positive one which will allow Royal to focus on their core post-up business.

BetRoyal (SBR rating D-) Makes good to players scammed by Royal managed BetCharter.

In a meeting with SBR in Curacao, Netherlands Antilles, Royal Sports CEO has assured SBR that all players involved in the scam have been paid in full.

The BetCharter scam another black-eye for players and so-called watchdog sites.

BetRoyal (SBR rating F) who setup and managed the BetCharter scam site has bought and paid for silence on all the major watchdogs and none have even reported the scam. The ‘marks’ in this scam have settled and are being paid by Royal for a lower settlement amount. Players must be ever vigilant of scams as well as web sites that simply appear to hold the players interest when in fact they are in the scam sportsbook’s pocket.

SBR Bill Dozer reports:

BetRoyal (SBR rating F) has agreed to shut down scam sportsbook BetCharter (SBR rating F-).  The player whose funds were stolen was offered a settlement, and has accepted.

Note to operators: SBR will not overlook scam sportsbooks hiding behind the label of “credit shop” while quietly soliciting deposits.

BetRoyal (SBR rating F) continues to be a part in the alleged scam operation of BetCharter.com(SBR rating F-).

As of noon today, the scam operation of BetCharter remains being fully serviced by Royal Sports and the web site remains live. SBR has requested that Royal Sports take down this web site and stop participating in this alleged scam so that the number of victims does not increase.

BetRoyal agrees to resolve the activity with BetCharter (SBR rating F-)

Players and other victims of BetCharter should immediately stop all betting activity and call Royal Sports as well as write SBR. Players should be aware of a scam using Royal Sports and BetCharter. SBR will continue to monitor the settlement talks with the victims.

SCAM ALERT: BetCharter involved in an elaborate con for $9,500

BetCharter (hosted by BetRoyal) is apparently run by con artists who contact players that have subscribed to free sports picks from freeMailPicks.com.

Once the touts (calling themselves "a betting syndicate") make contact with the player, they tout the player into making deposits to BetCharter. The bait is a profit-sharing arrangement with Charter fronting $86,000 with an agreement to split the profits 50/50 on games picked by the "betting syndicate". The catch is the player has to invest 10% as part of this joint venture.

The player is enticed with discounts until he makes the deposit. When the $86k doesn't showup in the joint account, the player calls Charter. Charter tells the player that the discounted price expired and he must deposit more in order to meet the requirements for this program.

When the player can no longer or refuses to deposit further, Charter touts announce that there are no refunds and the deposit has been forfeited to the syndicate. The player reports being taken for $9,500.

Rating Change: Charter

Charter BetRoyal, Lay107, Gamblers Ave are lowered from D to F; BetMidas lowered from F+ to F-, BetCharter lowered from D- to F-

Rating Change: BetChanger

BetChanger BetRoyal, Lay107, Gamblers Ave are lowered from D to F; BetMidas lowered from F+ to F-, BetCharter lowered from D- to F-

Rating Change: Lay107

Lay107 BetRoyal, Lay107, Gamblers Ave are lowered from D to F; BetMidas lowered from F+ to F-, BetCharter lowered from D- to F-

Rating Change: BetRoyal

BetRoyal BetRoyal, Lay107, Gamblers Ave are lowered from D to F; BetMidas lowered from F+ to F-, BetCharter lowered from D- to F-

Breaking news of a sophisticated scam leads to a downgrade of all Royal Sports owned sportsbooks.

Downgrades to include BetRoyal, Lay107 and Gamblers Ave from D to F. BetCharter from D- to F-, BetMidas F+ to F- and MajorBetting unchanged at D-.

Rating Change: Charter

Charter Sportsbook rating initiated at D-

BoDog

(SBR rating B+ and being considered for the SBR Recommended List) CEO goes on the offensive releasing financial results and balance sheet figures - Compared to the end of the year figures BoDog provided SBR last year (2002), BoDog's Net Cash to Player Escrow ratio improved from $2.60 to $1 to $4.05 to $1, meaning for every dollar BoDog holds in escrow for players they currently have over $4 of net cash(less debt) on hand. The problem with this type of reporting is that it is not verified or audited in any way. However, SBR has over the past year raised BoDog from an early '03 low of D+ to its current rating of B+ based on collaborating reports from Costa Rican sources that their business model was solidly accelerating as well as player feedback. SBR recognizes BoDogs significant financial improvement but will not put significant weight into unverified financial reports released by the CEO. SBR would feel more comfortable seeing financial highlights that carry a verified endorsement as to accuracy by an independent registered Canadian Chartered Accountant.