Full BetEd bailout offer made from top book...ball is in their court

[Doc JS]

From across the street...

"According to sources, the Deal was for this Book to just take over all the accounts . But it seems BetEd wants more out of it. "

It is not specified what exactly BetEd was looking for.

Bill, any ideas?

Doc

[NSN21]

This isn't entirely uncommon when a book goes under for whatever reason, right? Didn't Dimeline Sports do something like this when another scam sportsbook went under? (The name of the other book slips my mind right now).

[Bill Dozer]

From across the street...

"According to sources, the Deal was for this Book to just take over all the accounts . But it seems BetEd wants more out of it. "

It is not specified what exactly BetEd was looking for.

Bill, any ideas?

Doc

That sounds like speculation. We only know the details of the offer and the offer is good. We'll have to wait to see why they haven't taken it yet. We may find they have an equal or better offer for them and players but until this thread started, there wasn't mention of one.

[kilmerAsHolliday]

So is the DOJ planning on stealing the original money? I guess I'm out of the loop on this.

[OSUCOWBOYS]

IMO 100% bonus with 20 x roll is not a bailout. It is a simple bonus offer that isn't all that hard to find

I got that from BP. Rolled it 30x and will have to wait 6 months+ to see all my money.

Agreed, it aint that special of a deal.

[The Prick]

lol this might get real good real fast.

from that other joint:

Lou RSI View Space | Blog | Friends | Playbook | My Sportsbook: JustBet.com |



Veteran
Joined: May 2001
Posts: 4131
Location: Canada

#6Posted: 5/28/2011 10:29:38 PM

Well, the latest news is that there isn't a whole lot of news.

We haven't been in direct contact with anyone at BetEd, but we've had indications that there are negotiations going on between the different parties and the authorities.

As we hear it, there won't be any discussions about the seized accounts for quite some time. Why? I don't know. It probably makes sense to a lawyer.

For all the people who are making the claim that betEd has jumped ship with the player funds, I urge you to look at the government's own affidavit saying that accounts have been seized. It wouldn't be much of a getaway if the money ain't there.

This is a frustrating situation for everybody.

I might remind people that the poker indictments happened back in mid-April, and as of yet, neither FullTilt or AbsoluteBet have managed to repay players their funds yet. This is a process that takes time.

I'm sorry we don't have more information at this point.

- Lou

so if im readin this proper looks like SBR was working some kinda bailout while the site that pimped beted as #1 was sittin on their hands? bank this: covers will pull some old page outta the shrink playbook an spin this deal so their shit dont stink

long as the players get whats owed who cares about the back-pattin? dont sound like a better deal could be had than that no deposit-roll-over only crap dozer wrote about tho

[durito]

So is the DOJ planning on stealing the original money? I guess I'm out of the loop on this.

the doj doesn't have the money, you think beted kept all their money in one bank account?

[kilmerAsHolliday]

What I remember reading was that all the money was gone.

[WVU]

I got that from BP. Rolled it 30x and will have to wait 6 months+ to see all my money.

Agreed, it aint that special of a deal.

30x? wow. I thought you got like 15x deal. damn you must have destroyed them. almost 100 grand in total?

[bookie]

Check and see if they'll throw the ParlayMakers suckers (like me) into the deal.

[WVU]

How is anyone still comminicating with a BetEd high up? I thought they flew the coop and are not answering to anyone?

[OSUCOWBOYS]

30x? wow. I thought you got like 15x deal. damn you must have destroyed them. almost 100 grand in total?

Minus 8.

44 of it locked up. 47 and change still on the streets.

[chase hardy]

Maybe players will get paid, but I doubt it!

[Bill Dozer]

How is anyone still comminicating with a BetEd high up? I thought they flew the coop and are not answering to anyone?

Haven't heard of any players being contacted but they are still there. Office is gone.

[mtneer1212]

Lets hope for a good resolution here. Anytime a book runs, it hurts everyone.

[dark star]

I say its Legendz

[Dark Horse]

Never heard of a more disgusting book than beted. Just when you think they couldn't go any lower, after stealing everybody's money, they find another way.

[d2bets]

Never heard of a more disgusting book than beted. Just when you think they couldn't go any lower, after stealing everybody's money, they find another way.

Let's not jump to conclusions. Time will tell. Hopefully they will do the right thing and accept an offer in the best interests of their customers.

[pokerplayer22]

Let's not jump to conclusions. Time will tell. Hopefully they will do the right thing and accept an offer in the best interests of their customers.

I hope you're right but if they are unwilling to work out a deal to take care of their customers because they are lookiing for something more out of it, then i hope they all rot in jail for many years.

[DIXONBETS]

Hope they make a deal quick! Be nice if it's 5Dimes

[gafl]

Sounds like progress is being made. Good luck to the BetEd players on a bailout.

[stikymess]

Nice gesture, would depend on the strings attached.

[Scorpion]

Hey Guys,

We have been monitoring a potential BetEd bailout. A top sportsbook approached with an offer to cover balances in full. No deposit would be required for players to have their funds guaranteed by rescuing book. BetEd has the offer and the ball is in their court.

Unfortunately they didn't jump at it and it was laid out Friday. No response yet. Hopefully a lesser deal for players with a lesser book isn't in the works. BetEd of course should do what makes players closest to whole again.

how about betcascade players?

[secretstash]

Lol @ cascade... Beantownjim is still begging for his money

[LegitBet]

Right, this isn't a huge amount in total either. Yes, the two companies discussed on Friday. The call back didn't happen. We first spoke to their director in Ireland last week and got the update on the status today.

http://www.poker-strategy.org/

I see a forum advertiser of theirs is saying something as good is in the works and very close. That's great news and hopefully it materializes soon while the value is still there for the 2nd book. Maybe this offer from a top book raised the standard on the bailout and assures players won't have to jump through hoops.

Sorry Bill, but you tipped your hand.
Ireland involved means Spiro, et al.

Good news since no one is more respected now than the Olympic Group.

Damn for a total square I'm pretty good sometimes :-)

[pokerplayer22]

Sorry Bill, but you tipped your hand.
Ireland involved means Spiro, et al.

Good news since no one is more respected now than the Olympic Group.

Damn for a total square I'm pretty good sometimes :-)

Does this mean its betjam/greek?

[Tomato]

Exactly.

Truth is, I don't know why a book would even want to bail out beted.

Clients who haven't been booted from there are lifetime losers who will give an investor at least 4X ROI.

[HOTSTREAK11]

I have a bit of a problem. i have over 15 dimes tied up in beted. how am i suppose to do a 15x or 20x rollover??

[fury]

Thanks for the updates Bill.

[LVHerbie]

Clients who haven't been booted from there are lifetime losers who will give an investor at least 4X ROI.

Although the exact details hasn't been mentioned if a rollover is included the bailout figure should also go down significantly... Regardless anything is better then nothing (which Beted's players are currently looking at) so hopefully something gets worked out for them...

[jay777]

Thay can't take it right now, supposedly the funds were "seized". There would be alot of egg on alot of faces. I hope all beted customers get their paper back and continue the grind. GL... Besides it really looks like they want to bag the loot and run. Anything else is BS.

[stats13]

even covers is now saying this is for reals

[alling]

Aren't bailouts for keeping companies in business? BETED shut down.

What's BETED motivation to accept said bailout?

[thetrinity]

Aren't bailouts for keeping companies in business? BETED shut down. What's BETED motivation to accept said bailout?

money. book x gets a new customer list and beted gets paid. even though beted has a list of clientele, its utterly useless to them right now IMO. weve heard the rumor that beted was gonna run off and start a new book with players funds, however its completely unfeasible in this climate, no one in their right mind would be depositing in a new startup book at this time, especially someone who was ripped off by BETED.

[durito]

Aren't bailouts for keeping companies in business? BETED shut down.

What's BETED motivation to accept said bailout?

Bailouts are for the players that got stiffed, beted´s motivation should be to not be complete ******* scumbags.