Actionbets Update?

Dark Horse · 06-26-06, 06:37 PM

Uhoh. They've dropped to D+. I was hoping C- would be the low point.

What are the chances of this getting uglier? Worried because the ratings don't have E. The next step down is F...

Really guys, what is going on with this book? I received an e-mail from Aden on 6/22, saying that the problem was ONLY with Neteller, but now ALL payments have stopped?!

Dark Horse · 06-26-06, 07:29 PM

Just had an on-line chat with them. Was given the royal runaround by LittleMissy, who -this time- sounded as if she was on crack. Way too 'don't worry, be happy', if you ask me.

Basically came down to 'the owner' having to take money out of his other businesses to fund Actionbets. When I asked who the owner might be, and what financial backing he had, she was not at liberty to disclose.

The other reason to trust them, according to LittleMissy, was that, if they weren't legit, they would have continued to offer huge bonuses in order to take the money and run. Not exactly a comforting thought...

jjs100 · 06-26-06, 07:29 PM

Not a regular here, but am curious if there are any new developments with AB. I was enjoying the book and have made several cashouts recently, but still hold a balance of about $2k. I made 3 recent cashouts of $2500, including 2 the week of June 12th and one more at the end of last week, Thursday the 22nd. All Neteller..,

ronald · 06-26-06, 09:51 PM

John or Bill....anything to report on these guys?

Doug · 06-26-06, 10:27 PM

Their rep uses the name " Littlemissy" ?

is that her porn name ?

Illusion · 06-26-06, 11:58 PM

Originally posted by Doug

Their rep uses the name " Littlemissy" ?

is that her porn name ?

It sure sounds like a porno name.

JoshW · 06-27-06, 09:31 AM

I have a decent amount on deposit with them, hate to see them going down in terms of ratings.

Mudcat · 06-27-06, 09:44 AM

Yeah me too.

Bill Dozer · 06-27-06, 10:49 AM

Originally posted by ronald

John or Bill....anything to report on these guys?

As of yesterday they have not been able to send Neteller and weren't processing WUs with the exception of one transfer. They said they are still waiting for the wire. I'm expecting a call when it hits but maybe there is some good news already.

Anyone get a payout?

pags11 · 06-27-06, 04:05 PM

sorry to hear about this, but I can't say I didn't see it coming at the beginning of this year...

BigDog · 06-27-06, 04:50 PM

Hope everyone gets paid....Nothing worse than putting faith into a book by sending your hard earned money and then hear that there is no cash to be paid out when you do win.....Hopefully they'll get their act together and pay whats owed in a timely manner but I'd have to think that damage has been done @ this point to their reputation.....GL to all that is owed

pags11 · 06-28-06, 02:17 PM

has Aden posted on here lately?...

Mudcat · 06-28-06, 02:55 PM

Last post was 6/22 pags. Then the last one before that: 6/12.

Kdawg · 06-28-06, 03:33 PM

actually pags -- ive been speaking to aden throughout this whole process and he is as shocked as we the players are. I have a significant amount of money there and it has been very difficult to get it out. I am shocked it has come to this from a book like action -- they have had a great reputation for a while now (not an a book but still pretty damn good).

They had paid me using western union a couple of times but as of yesterday aden said "the boss" said no more money goes out -- he is cutting off all payouts until July 1 at the earliest -- which really means July 3rd becuase they dont pay on the weekends. Its at the point now where its absurd -- borderline betonstars!!

Aden and Jason say they completely agree with me but their hands are tied -- they literally cant do anything. i would love to speak to his boss person who as far as i know has never once been in the office when i called (and i called a lot) and tell him that his business is suffering becuase he is being a prick here. if he wont talk to me i would at least ask that he talk to bill or someone from sbr to straighten this whiole thing out becuase its a mess right now.

lets see if they can step up here and rectify this situation quickly. any thoughts??

isetcap · 06-28-06, 03:35 PM

Originally posted by Mudcat

Last post was 6/22 pags. Then the last one before that: 6/12.

That means he'll be posting again on 6/32. Exactly.

isetcap · 06-28-06, 03:39 PM

Originally posted by Kdawg

...any thoughts??

I think this how these situations almost always go down. Workers are shocked when the investors finally say they don't want to throw away anymore money. Aden sure does seem like a great guy but the bottom line is that it's not his money.

Dark Horse · 06-28-06, 03:41 PM

Kdawg, the money has to come from Bolivia, and there is a limit to how much money can be wired from that country within a certain time period. This would reflect more on Bolivia than Actionbets. Yesterday, Jason estimated two weeks, so July 1st would be early.

marc · 06-28-06, 05:07 PM

anyone know if the credit players have been getting paid

BK · 06-28-06, 05:47 PM

hey guys... just letting you know i'm still here.

i was just holding off until i can submit the post titled "all caught up with the payouts" And yes, that post will come. I would have left already if I were not 100% sure of that. I would never be a part of a scam or of players getting stiffed.

BigDog · 06-28-06, 06:06 PM

Glad to see your response Aden but the question I have is how can your boss let this happen? I mean AB has been around for a few years and we all know in this buisness if you take the money without a hassle you must pay without a hassle.......anyway,GL to you as you seem like a nice guy

JoshW · 06-29-06, 07:25 AM

I am amazed Action could go from perfect payout to letting their reputation go to hell like this. Smart ownership

Doug · 06-29-06, 10:47 AM

Originally posted by lakerfan

I am amazed Action could go from perfect payout to letting their reputation go to hell like this. Smart ownership

The curse of the Roberto ?

ralphk · 06-29-06, 02:22 PM

This is just great -- requested a payout today

I hope this situation gets resolved soon! I didn't know about this problem. I deposited 7 days ago and just finished my rollover today and was told that my payout of $4700 via Neteller will take a couple of days. This was a warning flag so I checked SBR and sure enough I see all this happenning. I sure hope Actionbets will honor the payout and I get my money on Monday at the latest.

Bill Dozer · 06-29-06, 02:52 PM

I would push for western union. There won't be too many Neteller deposits but the credit side should bring in sporadic WUs.

JoshW · 06-29-06, 09:28 PM

I really can't blame Roberto on this one. I guess has to be some reason, but this was a decent sized operation with years of experience and a based of credit players already making them money. Makes no sense. Of all these situations, I think this one will be resolved ok, but they certainly don't need their rep ruined by being grouped in with these other books.

pags11 · 06-30-06, 01:31 AM

it really is a shame things have turned out this way...aden's a good dude, but it sounds like this owner's got to get things together...

Dark Horse · 06-30-06, 02:04 AM

If what I was told is true, and if I understood correctly, this was the perfect storm. A fraud situation involving an employee, a historically bad baseball season, and imposed limits on wiring money from Bolivia.

To me this suggests that they're not really on top on things, as in attacking potential problems before they mushroom; but it doesn't suggest that they won't be able to solve the situation.

There seems to be a certain 'slowness' about this operation. Bottomline is that they weren't prepared for a worst case scenario. They can blame circumstances all they want, but ultimately those only pinpointed a lack of awareness.

Compare to a bettor who, with every good intention in the world, keeps blaming circumstances for his losses. You can listen, and understand, and feel for the guy, but not much will change unless he cleans up his act.

Dark Horse · 06-30-06, 06:38 AM

Do like their free sports pager though.

Just hoping it's not a very expensive one.

Really rooting for 'm.

Bill Dozer · 06-30-06, 10:33 AM

Originally posted by Dark Horse

If what I was told is true, and if I understood correctly, this was the perfect storm. A fraud situation involving an employee, a historically bad baseball season, and imposed limits on wiring money from Bolivia.

To me this suggests that they're not really on top on things, as in attacking potential problems before they mushroom; but it doesn't suggest that they won't be able to solve the situation.

There seems to be a certain 'slowness' about this operation. Bottomline is that they weren't prepared for a worst case scenario. They can blame circumstances all they want, but ultimately those only pinpointed a lack of awareness.

Compare to a bettor who, with every good intention in the world, keeps blaming circumstances for his losses. You can listen, and understand, and feel for the guy, but not much will change unless he cleans up his act.

Good post.

ActionBets was giving bonuses on winnings. Sharps were taking a payout and were ready to hit the next book offer but ActionBets would say come on back and we will give you a bonus on the money you just withdrew. Doing this will put a small shop up against Pinnacle and Cascade.

Turning the RCS guy loose was a big mistake. The players being investigated have many emails between AB and themselves talking about their buddies who are also betting. How can Actionbets apply rules to their winning bets when the rep was encouraging them to play?

Did fraud hurt the book or does getting hurt cause the book to look for fraud? The same thing is going on at Bet4Aces. After a month of not paying anyone the book holds a fraud investigation and tells players you aren't getting paid because the accounts are linked. Where did the players come from? BetOnStars.

At some point the book is the one taking the shot. The rep can invite these guys in, tell them to bring their buddies, and then if it doesn't work out they are expendable.

What do you guys think?

Doug · 06-30-06, 11:23 AM

I think when you stop paying your players your book is doomed to fail.

jjs100 · 06-30-06, 11:24 AM

Good news folks - $1000 (about half my balance) from AB just hit my neteller account!!!

Doug · 06-30-06, 11:26 AM

great !

CA_Bettor06 · 06-30-06, 11:36 AM

how did AB get hit by sharps?

Originally posted by Bill Dozer

Good post.

ActionBets was giving bonuses on winnings. Sharps were taking a payout and were ready to hit the next book offer but ActionBets would say come on back and we will give you a bonus on the money you just withdrew. Doing this will put a small shop up against Pinnacle and Cascade.

Turning the RCS guy loose was a big mistake. The players being investigated have many emails between AB and themselves talking about their buddies who are also betting. How can Actionbets apply rules to their winning bets when the rep was encouraging them to play?

Did fraud hurt the book or does getting hurt cause the book to look for fraud? The same thing is going on at Bet4Aces. After a month of not paying anyone the book holds a fraud investigation and tells players you aren't getting paid because the accounts are linked. Where did the players come from? BetOnStars.

At some point the book is the one taking the shot. The rep can invite these guys in, tell them to bring their buddies, and then if it doesn't work out they are expendable.

What do you guys think?

Bill, can you clarify how this group of bettors hurt AB and what they did that was fraudulant? Did they all bet the same side of a game aginst a cheap line at Pinnacle and that side happen to win? Or did half of them bet one side and the other half bet the other side? I assume that the fraud was due to some collusion among these bettors, like a syndacite?

In anycase offerring bonuses on winnings looks like an act of desparation to avoid payouts. Why don't sportsbooks just not offer deposit bonuses with rollover requirements. Why don't they offer cash refunds like 1.5% on all action (win or lose) as long as the player doesn't take a payout. This will encourage players to not take a payout and keep playing with the book. This would reduce the "hit and run" sort of activity and encourage player loyalty. Just a thought.

Doug · 06-30-06, 12:11 PM

[QUOTE=CA_Bettor06]Bill, can you clarify how this group of bettors hurt AB and what they did that was fraudulant? Did they all bet the same side of a game aginst a cheap line at Pinnacle and that side happen to win? Or did half of them bet one side and the other half bet the other side? I assume that the fraud was due to some collusion among these bettors, like a syndacite?

In anycase offerring bonuses on winnings looks like an act of desparation to avoid payouts.
Why don't sportsbooks just not offer deposit bonuses with rollover requirements.

Bodog does it just fine, you can withdraw, re-up get bonus with rollover

Why don't they offer cash refunds like 1.5% on all action (win or lose) as long as the player doesn't take a payout.

You can do that without restricting payouts ( Wagerweb), or like CRIS with loyalty points that in effect become cash if you play the 3-team parlay all 8 ways.