1. #1
    imgv94
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    creditwagering.com ($1,000 Free Account)No deposit required.. How legit is this SBR?

    www.creditwagering.com

    All customers start with a $1000 Gambling Line of Credit

    NO Deposit Required!

    Weekly Settlements at CreditWagering.com simplifies banking into a once a week procedure. At the end of each week all accounts are settled. Any account that is up or down less than $400 will be carried over to the next settlement period. Any customer who is down $400 or more must make a deposit for the entire amount owed prior to placing additional wagers. Click on Deposits for more details.


    SBR help us out here..

  2. #2
    pokernut9999
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    This has been discussed for over 2 weeks.

  3. #3
    imgv94
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    Well then I obviously missed the threads.. Could of posted a link for me nut.. I'll go searchin

  4. #4
    bigboydan
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    Way a head of you on this one IMG.

    Here are a few threads about this potentially scam site:

    http://www.sportsbookreview.com/forum/state-indu...creditwagering

    http://www.sportsbookreview.com/forum/players-ta...creditwagering

    There are 11 domains hosted under the IP address their using out of Costa Rica.

    Here are a few of them:

    1. Creditwagering.com
    2. Giftcardsgalore.net
    3. Ipodprivacy.com
    4. Spanishdrills.com

    There are a couple of posters here at SBR that have received their winnings from them in the past week or so, however everyone is still unsure what exactly their angle might be. But here are just a few guesses on my part.

    #1. Legit...but I doubt it IMHOO

    #2. Could be a sting...but that would be entrapment

    #3. A scam to acquire everyones personal info to sell on the black market.

    #4. Possibly trying to weed out the "bad risks" in order to put the "good risks" on their sheets.

  5. #5
    imgv94
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    Thanks Dan.. Appreciate that man.

  6. #6
    JoshW
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    Given the number of scammers out there on the player side and people who will simply bet over their head, there is no way I can see this type of book surviving. They would pay out way more than they ever collected.

  7. #7
    Bill Dozer
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    Quote Originally Posted by imgv94 View Post
    www.creditwagering.com

    All customers start with a $1000 Gambling Line of Credit

    NO Deposit Required!

    Weekly Settlements at CreditWagering.com simplifies banking into a once a week procedure. At the end of each week all accounts are settled. Any account that is up or down less than $400 will be carried over to the next settlement period. Any customer who is down $400 or more must make a deposit for the entire amount owed prior to placing additional wagers. Click on Deposits for more details.


    SBR help us out here..
    Like most books, I don't think it's meant to be a scam out of the gate. I spoke to one of the owners today. They have a detailed plan, flawed as it may be. I think this is like any of the "rookie" books. Different novelty, likely same result. Players who get in fast for the bonus will be able to cashout. I wouldn't play there and even with their booking model aside, it's a place where players should be cautious.

    They are operating anonymously in all areas right now and they don't have any references. You can't really blame a book for going the anonymous route these days if they can get players regardless. But, like the other new no-name books, there is nothing for them to lose if they call it a day.

    The Pros are that no one should lose their post up. They have small limits and require players to settle weekly so they should be tested regularly if they managed to get some more forum users. The down side of that is if they run into a processing problem and can't pay, everyone who is in the hole says "hey, you weren't going to pay me if I won so I'm not paying you." So, they are out their money and losing all the players who they owe.

    They have a $1000 max win for the week. This means that if you win a +1100 bet you are out $100. Doesn't carry over.

    The problem with CW and a Blackdog is they don't realize the cost of a stiff. They may expect a modest 25% default rate but if all those players win 50% of the time before they stiff there will be guys that get them for $5500. I think they estimate the cost/stiff to be much lower than they will find out it is. If these books managed to be popular the fraudsters would come out in droves. Each stiff knows 20 others who will say, "oh, I lost my ID."

    There is a reason why a good book cancels winnings when an EFT fails or a credit card transaction gets pulled back. They have to assume the money wasn't going to reach them if the player lost.

    On paper it's less dangerous than any other no-name place that you have to send money to for a bonus.

    My prediction is they have a big chunk of their customers on payment plans and another chunk of players accounts in the stiffed box. They either disappear like most of the others or have to give up the credit-to-all-users deal and will try to take post-up. Maybe they require initial $1 credit card deposits to cut into ID scams and ditch the casino. How many players are going to say, The casino is rigged, I'm not paying.?
    Last edited by Bill Dozer; 03-13-08 at 10:55 PM.

  8. #8
    vanzack
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    Quote Originally Posted by Bill Dozer View Post
    Like most books, I don't think it's meant to be a scam out of the gate. I spoke to one of the owners today. They have a detailed plan, flawed as it may be. I think this is like any of the "rookie" books. Different novelty, likely same result. Players who get in fast for the bonus will be able to cashout. I wouldn't play there and even with their booking model aside, it's a place where players should be cautious.

    They are operating anonymously in all areas right now and they don't have any references. You can't really blame a book for going the anonymous route these days if they can get players regardless. But, like the other new no-name books, there is nothing for them to lose if they call it a day.

    The Pros are that no one should lose their post up. They have small limits and require players to settle weekly so they should be tested regularly if they managed to get some more forum users. The down side of that is if they run into a processing problem and can't pay, everyone who is in the hole says "hey, you weren't going to pay me if I won so I'm not paying you." So, they are out their money and losing all the players who they owe.

    They have a $1000 max win for the week. This means that if you win a +1100 bet you are out $100. Doesn't carry over.

    The problem with CW and a Blackdog is they don't realize the cost of a stiff. They may expect a modest 25% default rate but if all those players win 50% of the time before they stiff there will be guys that get them for $5500. I think they estimate the cost/stiff to be much lower than they will find out it is. If these books managed to be popular the fraudsters would come out in droves. Each stiff knows 20 others who will say, "oh, I lost my ID."

    There is a reason why a good book cancels winnings when a EFT fails or a credit card transaction gets pulled back. They have to assume the money wasn't going to reach them if the player lost.

    On paper it's less dangerous than any other no-name place that you have to send money to for a bonus.

    My prediction is they have a big chunk of their customers on payment plans and another chunk of players accounts in the stiffed box. They either disappear like most of the others or have to give up the credit-to-all-users deal and will try to take post-up. Maybe they require initial $1 credit card deposits to cut into ID scams and ditch the casino. How many players are going to say, The casino is rigged, I'm not paying.?
    Im curious....

    When you spoke to one of the owners - did you ask them their plan when someone says "im not paying you"?

    I have heard crazy things like them threatening your credit or sending you to collections - which is absurd. Did they directly tell you their plan?

    The truth is all they could do is scare someone with bluffs - but Im curious if they owned up to that fact.

  9. #9
    picantel
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    I notice their casino is turned off unless you get permission. They change the rules every day.

  10. #10
    Bill Dozer
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    Quote Originally Posted by picantel View Post
    I notice their casino is turned off unless you get permission. They change the rules every day.
    You have to give them your ID to play it.

  11. #11
    Bill Dozer
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    Quote Originally Posted by vanzack View Post
    Im curious....

    When you spoke to one of the owners - did you ask them their plan when someone says "im not paying you"?

    I have heard crazy things like them threatening your credit or sending you to collections - which is absurd. Did they directly tell you their plan?

    The truth is all they could do is scare someone with bluffs - but Im curious if they owned up to that fact.
    Yes, they think they can mark up a credit report with the help of some other companies. They might be able to cause some problems for a few of the first stiffs but it's not a scalable plan.

  12. #12
    picantel
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    The only thing they are going to do is get any collection agency or credit bureaus sued for violations of the fdcpa, fcra, or applicable state law for reporting a debt that is in fact illegal to begin with.

  13. #13
    Bluehorseshoe
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    Quote Originally Posted by bigboydan View Post

    #4. Possibly trying to weed out the "bad risks" in order to put the "good risks" on their sheets.

    This is a possibility and it might be worth it for them to "get burned" in the beginning in order to find legit players. But the key is, if they're serous, they're not going to take on random players in another week. At some point you have to cut it off. They'd never survive taking the same chance of getting burned each and every week.

  14. #14
    zerocage
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    I got an email. They will send you to collections if you don't settle up. Says right in the advertisement. "The line of credit" they try to make it sound like it isn't a gambling debt which can't be collected under law!

  15. #15
    Bill Dozer
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    Quote Originally Posted by crazyl View Post
    I registered Bill. I hope they don't steal my identity, but then again, I'm not really worth that much to begin with so I don't think any Nigerians would have too much fun. I'll try them out for a few bucks.
    GL and don't forget to stay away from those big doggies/parlays

  16. #16
    Gotbeatagain
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    They pay the first week and then come up with some of the most unbeleivable excuses ever. Love to find someone who got screwed by them like me. All they do is talk about how many hundreds of people get paid each week on time. But they are over two weeks behind with me...what a shock!

  17. #17
    robmpink
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    After reading this I went on their live chat and asked about two week payment delays. They said they are on time and the only people who weren't paid were the people who didn;t follow the rules. Multiple accounts at same IP, incorrect signup info (address,etc). Take it for what its worth.

  18. #18
    Gotbeatagain
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    Wow Rob quick response. I would never guess you work for them???? Since you have the inside track, ask them if they cleared up those "problems" days ago, why they are still two weeks behind in paying and why they won't pay out the total owed, just the two weeks ago balance. They claim lat weeks' will be handled by check. I'd be gald to post the long chat transcripts of the promises from the last two weeks and the phone conversation with one of their guys. He also said all the right things, but still hasn't followed through. If it walks and talks like a duck.....it's a duck

  19. #19
    robmpink
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    Quote Originally Posted by Gotbeatagain View Post
    Wow Rob quick response. I would never guess you work for them???? Since you have the inside track, ask them if they cleared up those "problems" days ago, why they are still two weeks behind in paying and why they won't pay out the total owed, just the two weeks ago balance. They claim lat weeks' will be handled by check. I'd be gald to post the long chat transcripts of the promises from the last two weeks and the phone conversation with one of their guys. He also said all the right things, but still hasn't followed through. If it walks and talks like a duck.....it's a duck
    Yeah I work for WagerWeb, creditwagering, bigwhitecock.com, and a few more places. Go in there now and ask. I just posted what they said. Post your chat and see if you should have been paid. I spoke with a guy name Sam. They could be pulling the wool over my eyes, but that is what they said and this is what you said. As a put take it for what its worth.

  20. #20
    Gotbeatagain
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    No cares...maybe you work with them and maybe you don't. Not an issue. But, if you do, can you be the guy that runs down the ** and handles my payout? They seem to have a problem finding someone to do it....or they don't have the $$$$. Just another example that college kids who are use to taking $5.50 per bet from their roommates shouldn't go into the book biz. It's for professionals. Rob, if you're legit, thanks for your research

  21. #21
    Gotbeatagain
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    Just an update. Spoke to Sam. Now they shut down my account (up $360 this week). They still owe me $1800. Now after telling me I would be paid yesterday and then this morning. They said "we don't have to pay you, but we will. Just not today. When we want"
    SSSSCCCAAAMMMMM!!!!

  22. #22
    Gotbeatagain
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    got paid $540 a couple of weeks ago and now they owe me $2,160. I'll chalk it up as a loss. I've got 20 guys ready to sign up...they will. Think any of them will pay? not until i'm whole for $2,160. STAY AWAY FROM CREDITWAGERING.COM. They are amateurs and DON't PAY

  23. #23
    zerocage
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    I've heard where they start calling people stiffs before its even settlement day and saying they will have an international collection agency collect and they will harass like none other. Some place trying to make a quick buck I guess.

  24. #24
    Gotbeatagain
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    "George" from their office called me on the phone this week to try to explain why they won't pay me. He said "we go crazy on people who don't pay, call their neighbors, and tell them we are trying to get in touch with your deadbeat neighbor". He said there are no laws for that in CR. George needs to get a reality check. Some people are involved with people who can track them down and do damage, never heard of a book playing tough when they OWE $$$$.
    SSSSCCCAAAMMM

  25. #25
    Gotbeatagain
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    Don't want to scare people away from online gaming. Betcris, heritage and others are super legit, pay and act professionally. Some are just frauds...like creditwagering.com
    With the NCAA tournament this week....Be careful

  26. #26
    Bill Dozer
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    Quote Originally Posted by Gotbeatagain View Post
    Wow Rob quick response. I would never guess you work for them???? Since you have the inside track, ask them if they cleared up those "problems" days ago, why they are still two weeks behind in paying and why they won't pay out the total owed, just the two weeks ago balance. They claim lat weeks' will be handled by check. I'd be gald to post the long chat transcripts of the promises from the last two weeks and the phone conversation with one of their guys. He also said all the right things, but still hasn't followed through. If it walks and talks like a duck.....it's a duck
    Feel free to share the transcripts.

  27. #27
    Gotbeatagain
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    here's the back ground

    I beat them for $800 two weeks ago. I sent in a payout request, which was about an hour late. They honored the request and said I would get an ** or ** by last fri (nothing), last Sat (didn't have someone available to do it), Sunday ("can't get it done today).
    I processed another $1,000 on Monday early morning.
    On Thursday they said they found a violation...I was using the same ip address at owrk that another guy (I put into them) was using. George called me on the phone and said he needed to investigate/audit that we were not making the same plays and were indeed different people.
    George emailed me later in the day that all was ok and I would be paid late Friday (NOthing).
    I contacted them today and was told they couldn't give me a time they would be doing it.
    I aired my grievances in this site and then they shut my account down, threatened not to pay unless I admitted full guilt on this fourm, etc.
    see below
    kind of a This is from csd@creditwagering.com:
    FYI.....If you followed the rules none of these problems would of happened!

    FYI...You will never play here again, as we do not need customers who
    blame us for their mistakes!

    FYI....You will post the truth about why you did not get paid on the
    forums before you get a dime! Not your truth, the real truth!

    1) You requested a withdrawal late.

    2) You not on purpose violated our rules that clearly state that more
    than one person can play from the same ip, and you and your friend did
    multiple times.

    3) After reviewing your plays, we still decided to pay you, even
    though our site is clear that we did not have to pay you.

    Until you tell the truth, you will get nothing, as nothing is owed to
    a rule violator!

    I will contact Bill at sbr and prove to him you are a violator and let
    him know, that when you admit the truth, and Bill will see the truth,
    then and only then will you get paid.

    You can lie all you want on the forum, as we both know the truth and
    what kind of person you are!

    back:
    Do they think I was born last night? They want me to post a glowing review and THEN i'll get paid what I beat them? Come on. That's how frauds run. This site will be closed before the NCAAs begin...trust me.
    Per what they wrote: Bill if you want to contact me and get clarification, transcipts, emails and a taped phone call....I'd be glad to provide. Already sent them to others to see and "investigate"

  28. #28
    Gotbeatagain
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    Bill
    Unfortunately, my name is on my emails and I'd rather not post them. Can I print them and fax to you? Just want these frauds to be exposed

  29. #29
    Bill Dozer
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    GotBeat,

    I'll be happy to discuss with them.

    Can you cut n paste the email and email it to Bill@sportsbookreview.com? Edit out what you need.

    My guess is they reviewed your plays and and see thet they don't overlap with your referral. (They are going to have a lot of problems with the IP issue because they are relying on it for much more than other books in that each person only gets a certain limit. Can't work.) Now, they need you to admit that there was a reason for the audit for folks in the red.

  30. #30
    Gotbeatagain
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    Just got off the phone with creditwagering.com. They agreed to send me 800 today and my balance on wednesday via check. Nice gesture (if and when it happens, I've been promised before). If it happens we are alright and it's safe to say neither was blantantly wrong, just the trials and tribulations of a new book with gliches. I may have been innocently wrong in some things (without intent), but they handled wrong. Let's see if they handle it right now. All i can do is wait.

  31. #31
    Bill Dozer
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    GL Gotbeat. Is there a max on checks?

  32. #32
    zerocage
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    very unprofessional place

  33. #33
    zerocage
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    they can sell my info they ain't gonna get nothing out of it

  34. #34
    imgv94
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    Now if settlement is $400, what happens if you take it to $399 and then stop?

  35. #35
    bigboydan
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    Quote Originally Posted by imgv94 View Post
    Now if settlement is $400, what happens if you take it to $399 and then stop?
    I'm sure they some type of "squatters rule" in place IMG.

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