Your thread is right here. No one has replied to it yet.
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this is turning into quite the suckComment -
Why was this thread moved from the sportsbook/industry forum??Comment -
How would a buyout affect beted wagers that are still pending?
I had several mlb futures bets with beted. How would they be affected in a buyout? I assume the winnings would face the same rollover restrictions as existing account balances?Comment -
God only knows mlb ... but presumedly soComment -
BetEd could include whatever terms they wanted including the pending future bets or the bonuses that are almost fully rolled over. Their first priority is getting more cash for themselves so they'll likely make the debt liability look as small as they can. They'll take the money instead of passing on what they can to the players.
They are essentially stealing from you twice by asking for cash and lessening the value of your money with balance requirements. By asking or receiving anything, players get less. It's not a new scam and has been going on since the early years. Sportsbook takes X in deposits and sells them to book Y for a profit and book Y adds a rollover and makes a profit. Everyone wins except players.
Covers really shot themselves in the foot by putting BetED's private terms out there and how BetED had actually asked for cash and revenue share for the privilege of picking up the tab for their players. We didn't want BetED to turn away from the BetOnline offer because we publicized their requests for cash... but now that the curtain is pulled back, players can see how the scam was developing and why they wanted to ignore and discredit legit bailout offers.Comment -
What would keep beted from reducing/zeroing out your balance to make a offer look better?
Example: we owe players 400,000$. If we make it look like we only owe 250,000 maybe the bailout with throw us some bucks for us cause the bailout isn't very big?
I have been just sitting and watching this.....but I have a decent sized balance there from a deposit a long ass time ago....I'm afraid they would do as described as aboveComment -
Wow, somewhat new to the offshore villainy, but it is amazing to me a book would offer to carry another scumbag books water. Good to see its a Panama based book.Comment -
why we cheering panama, theres no news is there? of course there isn'tComment -
Huh?Covers really shot themselves in the foot by putting BetED's private terms out there and how BetED had actually asked for cash and revenue share for the privilege of picking up the tab for their players. We didn't want BetED to turn away from the BetOnline offer because we publicized their requests for cash... but now that the curtain is pulled back, players can see how the scam was developing and why they wanted to ignore and discredit legit bailout offers.Comment -
Covers posted some "bailout" details for the players. Not only did they outline what the players would get, they revealed that BetEd would get cash and part of any future revenue from the players that were formerly at BetED. I'm sure whoever this book is, if real, had their head in their hands when they read that. Telling players that BetED benefits from their play is a sure fire way to assure withdrawals the day the rollover is over.
BetOnline said no to BetED's request for cash but BetOnline hoped they could still help players. No one wanted to out BetED that they were treating stiffed players as a commodity. Now that Covers did that, potential bail-out books want to make sure they aren't seen as making money at players' expense. They know if there is equity there it should go to the victims not BetEd's pocket.Comment -
OhhhComment -
It's very possible. That's why a book in trouble has the rescuing book to its office to see the numbers, the biggest balance list, and does so before the site is offline and the office is cleared out. Nothing is to keep BetED from seeding the balance sheet with fake accounts or deleting a 10 team parlay winners.Comment -
This industry needs more violence.Comment -
they should make lines on this.
Who will bail out ED?
Cris -400
Greek +150
BetOnline -450
5dimes -110
Heritage +300
BoDog -110
maybe you can come up with better lines
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Bodog would be a natural fit...one can only hope BetEd players would get that lucky.
Covers have proven themselves (yet again) to be scumbags in this ordeal. The owners can't be too happy to have their names and locations revealed in the article. A lot of pissed off customers.Comment -
off the top of my head that looks to be about a 67% edge
actually its likely a 100% edge as you aren't offering 'any other' or such
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i think covers just has their hands in cookie jar so they can get the balance due to them for advertising and also make sure they get money from the advertiser who is taking the players on as they want them to be on their affiliate list
-stashComment -
neverComment -
i say it's going to be a new book that will carry our accounts but not the balance.Comment -
guys this pissing contest you have with covers is about as juvenile as it comes. you dont like them, they dont like you. we get it. lets worry about a deal being done sooner rather then later. they are a clown operation, everyone knows that already. just ignore them they arent worth it.Comment -
This is really disguisting.BOL wanted to help out...I think they will eventually do it.Cris/Greek would probably do something.Could be a combination of the 3 books.Comment -
There is no pissing contest.
We received a communication from a book wanting to acquire the betED database. We forwarded it to Covers. If you recall they denied there was an offer for the longest time and denied we had emailed them and went on to call us liars. It was ONLY when we threatened to release proof of the deal and all the communications that covers began spinning their way towards recognizing there indeed was a deal. A deal they had somehow overlooked.
SBR posted the deal to inform betED players. Covers denied the deal existed for some unknown reason. SBR only returned fire when covers insisted there was never an offer for betED and that SBR was lying. It remains a mystery why they purposely lied and tried to lead discussion away about the existence of a deal that could have restored betED player balances within 3 days of going out of business.
SBR does not like or dislike covers. But their actions required us to stand up and call bull she-ite.Comment -
'declare shenanigans' you mean ... its a much nicer turn of phrase
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Why don't this book offer the players to come forward with info and just help out the players? I guess they couldn't trust people that they are telling the truth on their balances.Comment -
FuuuuuuuuuuuuuuuuuuuuuuuuuuComment -
well, they could contact players from the DB and ask them how much approx is in their account at beted, for verification purposes. it would look totally unprofessional and shaky but at least they'd know Beted isn't scamming them. unless beted sets up dummy accounts or something
this entire thing reeks like it's going to fail. **** covers for getting in the way, **** beted for being shaky as shit, **** everyone involved who has been a greedy bastard thru all this.Comment -
I hope something is sorted soon as i had over $3k in there
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