Safe to continue wagering at Actionbets?

[bigbet1234]

HAvent seen an update from Aden or anyone in the last few days. Seen a few more were paid last week, but whats the status as of now?

I still have a decent chunck to roll over yet, but waiting to see what transpires........any info?? Aden, you out there?

BB

[SBR_John]

I hate to give you an official SBR reply because obviously this book is in serious trouble and I would have to be conservative and tell you not to bet. If you bet into a failing book and win you will just be stiffed for a higher amount.

But if it were me, I would be playing here. I think this book will wobble into football and be ok...shaky yes but ok. Bottomline; I would recommend you complete your rollover.

[Doug]

I would have rolled already since you HAVE to anyway, I would have used a large quantity of small bets so the balance remains relatively stable. For example if you have to roll $1,000 then two $500 bets can change your balance by a dime or more. Fifty $20 bets will win and lose some leaving you close to where you were at and achieving the rollover.

I'd want out ASAP.

[SBR_John]

Fifty $20 bets will win and lose some leaving you close to where you were at and achieving the rollover.

Would a guy named "Bigbet" make $20 bets?

[bboots]

Ive been receiving regular pauments from them the last couple of weeks...received one today for 1700...they are making headway

[bigbet1234]

I have 20K left to roll. $20 bets is not an option. I will give it a little more time.

Thanks,

BB

I would have rolled already since you HAVE to anyway, I would have used a large quantity of small bets so the balance remains relatively stable. For example if you have to roll $1,000 then two $500 bets can change your balance by a dime or more. Fifty $20 bets will win and lose some leaving you close to where you were at and achieving the rollover.

I'd want out ASAP.

[Dark Horse]

They've been putting in their own money, so that doesn't sound like a book ready to make a run for it.

Idea is to complete rollover 1K (limit) at a time, so it pays to shop around a bit.

Right now, you can get the Brewers +1.5 at -115 at Actionbets, and the Giants -1.5 at +115 at Mansion.

I wouldn't worry to much about the Actionbets side winning the wager, because if you do this often enough it should even out.

[Doug]

I have 20K left to roll. $20 bets is not an option. I will give it a little more time.

Thanks,

BB

Make the bet size relative to the rollover needed. I suggest something along the lines of 1-2 % of the account amount, so in your case maybe some $100- 200 type bets would be in order ?

Basically make some small bets to help you get there, since waiting won't help. Small bets add up to get you closer. Just my opinion of what I'd do.

[Doug]

Would a guy named "Bigbet" make $20 bets?

John: I trust you see my logic of large volume/ small amount to get there ?

[SBR_John]

Doug,
Yes I do. Although the odds are not changed by the amount bet. But if your goal is to break about even then I would agree with the strategy.

I do believe this book makes it. They have a decent stable of football players and not long to wait for football.

[bigboydan]

football is about another 6 weeks away though. thats alot of time to kill there bussiness til then.

[Uncle B]

i don't think they have as good a future as John does..i think they are toast.

still, you may as well finish your rollover requirements at this point.. not much you can do either way, till you do.

once thats completed, i'd keep updated screencaps, and wait and see.

[Dark Horse]

They should be fine. And they deserve some kudos for dealing with a tough challenge in an appropriate way. By putting in their own money.

I will continue to play there during the football season, with reduced funds, to take advantage of the soft lines they often leave up (long after other books have changed theirs).

[pags11]

stay away...

[Uncle B]

stay away...

that would be my advice.. at least till football season is actually underway.


just not worth the risk, imo.. not with the steady stream of failures seen recently, though, to be fair, i think 2 of those (betonstars/betforaces) were outright scam outfits from the early going.

still, why risk it?

[Dark Horse]

Just talked to Aden. Things are looking up.

If I add a standard 15% of optimism - OK, a couple of cold Coronas- , I would say that this book is definitely going to make it.

[pags11]

making it means staying open I guess?...who's gonna play with these guys after all of this?...

[LGBoots]

making it means staying open I guess?...who's gonna play with these guys after all of this?...

You will be surprised, a lot of punters have short memories & if they are REALLY over this rocky patch they should be ok. They have a decent 8 years history & are not a Bet4Aces who lasted about 8 weeks

However Aden should post on this forum & let us know how this so called fraud problem started & how they have now (Presumably) solved it.

[BK]

Hey guys,

I've been out for a few days. Took a short vacation. It had been a trip that I had commited to a while back. Sorry for leaving you guys hanging like that.

Well, the fraud investigation is coming down to it's end very soon. Very soon we will be able to post more details on how all of that went down.

As for the "delinquent" payments, that's coming down to an end to. We have been paying slowly but surely. Every week we have sent out amounts of $1000 - $2500 to the people that were owed. What we owe now is a very much smaller amount and we have definitely gone further than the half-way mark with our overall debt to players. Tomorrow actually marks one month since we have been slow paying, although I'm sure it seems longer than that to some players.

We do apologize for the trouble that all the legit players have had to go through. We will be back on our feet and stable soon. We are still answering the phone, we are still sending money out, and we are still going to be around when all of this is over.

[Dark Horse]

You know, it's funny. This is supposed to be the time to take a break and get ready for football, but with the internet legislation battle, this Actionbets thing, and the Carruthers arrest, this has been one helluva stressful month. lol

Let's hope football season won't be too relaxing...

I'll have one of those smokes now, Aden.

[Illusion]

SBR Bill Dozer reports: ActionBets (SBR rating D-) meets with SBR to discuss current situation. Ownership tells SBR that it is liquidating assets and that the majority of delinquent bettor accounts will be settled next week. For most players, this would be the final payment during one month of delays. SBR has also received seven complaints from ActionBets players whose accounts have been frozen for nearly two months. SBR will assist Actionbets with the assessment of these accounts. Players who hold frozen balances should supply Actionbets with a picture ID and two documents, such as utility bills, that confirm the address listed in their ActionBets account.

[pags11]

thanks for the update illusion...

[isetcap]

Liquidating assets to pay players is admirable but does not speak well to the future of this organization.

[Dark Horse]

Liquidating assets to pay players is admirable but does not speak well to the future of this organization.

I believe it does. It speaks to the profitability of the business. If a business is profitable for 8 years, and then experiences one bad quarter, any businessman would reinvest some earlier profits to get it back on track.

Still, this should never have happened. The money shouldn't have been tied up elsewhere, with waiting periods for liquidation. If your going to inspire trust with statements such as the one below, you better live up to it.

ActionBets.com especially provides you the assurance that all of your funds will be kept in secure trust. ActionBets.com maintains your account separate from its corporate funds, and does not use any of your deposits or winnings for its operating expenses, or for any other corporate purpose. We understand the basic business principle that your money is your money, not ours!

Ultimately, any serious challenge should serve as a lesson, and as such can be a blessing in disguise. If the lesson is learned the person, or business, comes out the stronger for it. Therefore everybody deserves a second chance. A real problem would be if the lesson is ignored.

Once everyone is paid off, it can't be back to business as usual for Actionbets. They should go OUT OF THEIR WAY to ensure that this will never, not ever, happen again. They should step it up, go the extra mile, and all that good stuff. If takes years to build trust, but only a minute to destroy it.

No idea if this is an option, but if this were my business and I needed to restore integrity, I would bring in one of the top people in the industry.

[pags11]

still a D- in my book...

[increasedodds]

ARe ramjetsports and actionbets related? A while ago, when I asked for a withdrawal from ramjet, action replied by email.

I got the withdrawal promptly, but dont want to reup anytime soon if they are related..

-Sean

[onlooker]

ARe ramjetsports and actionbets related? A while ago, when I asked for a withdrawal from ramjet, action replied by email.

I got the withdrawal promptly, but dont want to reup anytime soon if they are related..

-Sean

Yes, both Actionbets and Remjetsports are apart of the Abetnet parent company. So was Xtremewager, but they are offline.

[BK]

Yes, both Actionbets and Remjetsports are apart of the Abetnet parent company. So was Xtremewager, but they are offline.

Actually, Xtremewager was never part of the ActionBets network. That had been explained a while back. The Xtrememewager website design was provided to them by the same person who designed our website. So it did look identical. However, they never had any actual ties to us, monetarily or otherwise. Only, they used the same marketing company.

However, RamJet is tied to us. RamJet is being run under ActionBets' wing and is the second book in the ActionBets network.

[pags11]

Aden,

not trying to be a dick, but I believe extremwager and actionbets were researched to have the same IP address?...how can you guy's not be affiliated?...

[BK]

Aden,

not trying to be a dick, but I believe extremwager and actionbets were researched to have the same IP address?...how can you guy's not be affiliated?...

The marketing company that did our website, also hosted our website on their servers for a short period of time (about 3 months), during which xtreme was also run on their website. It was only our front end that was on their servers though, when you were taking your wagers it switched you over to our servers in CR.

That's the only tie we really had with Xtreme, we used the same marketing company.

[pags11]

I wouldn't want to share the same servers/ marketing company with a book that was known to be a scam book...just bad association...hopefully actionbets has learned from all of this and will get everyone paid...

[ronald]

Aden,

Let's get some more payouts processed. Last week I was told that payouts would resume on Monday (24th). They did not. I called on Monday and was told I would get my payout on Wed (26th). I did not. I phoned on Wed and was told that I would get paid on Friday (today). Will I?

[BK]

hello ronald. Sorry I couldn't answer you yesterday. I was on my day off. But you should see a payment from us in your NEteller account. We paid the money out last night.

[ronald]

I did indeed receive a payment late last night after contacting Jason. He was quite understanding and paid me promptly. He also told me I could request another payout on Monday for payment at that time. thanks.

[pags11]

good to hear you got paid ronald...