[stats13]

OK, we finally have confirmation, but it's not good news...

betEd is out of business. Period. There will be no alternate site launched. They came to this conclusion upon the recommendation of their lawyers.

And to top it off... the American authorities have seized ALL of the players money. There is no middle ground here. The money is gone until the authorities decide to give it back.

And before you blame betEd for this and make accusations that they have cut and run with the money, it is not so. Yes, they have cut, and maybe they plan to run, but they have no money. They are victims too. In fact, they are currently liquidating their personal assets to fund the lawyers fees they will soon be needing. I am sure nobody is interested in hearing about their problems right now, but I thought I would mention it before the rumors start.

This sucks. No doubt about it.

If you are owed money from betEd, your best avenue right now is to immediately contact your Congressman and tell him that the American government stole you money. Because that is what happened.

I have been told to also mention that Covers will make an official announcement about this situation shortly.

[stats13]

that was all from Lou at Covers

[thetrinity]

i dont believe you can cut and paste verbatim from another site but GUILTY as charged now.

[justonetime]

How could the US government seize everything BetEd had? Did they keep everything with the undercover processor?

[thetrinity]

was like 33 million they arent that big a book. they were on the hook for WAY more then bookmaker. bookmaker was around 91000 i think.

[stats13]

well, this is gonna be interesting to see how we get that $ back, if ever.

[KEdge2k]

Very sad.

[thetrinity]

your local congressman will laugh n tell you to **** yourself. its time to move on with our lives, not enough people involved to mount some kinda mass effort IMO.

[pokerplayer22]

I dont feel bad for beted in the least. They solicited deposits out of people the last few days by offering 100% bonuses. When i called up to make my deposit, a manager there named Megan told me that they were even willing to go up to $500 for the 100% bonus. They knew exactly what they were doing.

I hope they enjoy their time behind bars and fill up on their baloney sandwiches

[pokerplayer22]

How could the US government seize everything BetEd had? Did they keep everything with the undercover processor?

Exactly...i guarantee that any offshore book would have their funds spread out in like 10 different places instead of keeping all their eggs in one basket. Damn theives.

[KEdge2k]

If the reports of BetEd offering a 100% matching bonus are true in the weeks and days before the seizure, it sure makes you wonder if they knew this thing was coming.

[thetrinity]

it was poor business. they didnt seize everything they had obviously, but i do think they seized enough to cause the deathblow.

[pokerplayer22]

it was poor business. they didnt seize everything they had obviously, but i do think they seized enough to cause the deathblow.

Im dropping my offer for my acct buyout to 15%.

[thetrinity]

If the reports of BetEd offering a 100% matching bonus are true in the weeks and days before the seizure, it sure makes you wonder if they knew this thing was coming.

putting 2 and 2 together quite possible. i didnt give the bonus a 2nd look. i had done a big bonus before the ncaa tournament was something like 33% up to 500 in bonus money.

[Legions36]

Well i wrote the $ i had in there as a lose when it happened and i was pretty sure it would happen as they were they main ones in the indictment who did so much sh-it, they could do all of this because they had years of paper work against them thats why everything is seized but bookmaker only did a small figure so there is only so much they can do, plus bookmaker has a ton of $ no contest.

[thetrinity]

Im dropping my offer for my acct buyout to 15%.

more like 1% now.

[thetrinity]

Well i wrote the $ i had in there as a lose when it happened and i was pretty sure it would happen as they were they main ones in the indictment who did so much sh-it, they could do all of this because they had years of paper work against them thats why everything is seized but bookmaker only did a small figure so there is only so much they can do, plus bookmaker has a ton of $ no contest.

exactly right. they were in this way deeper then bookmaker and a way smaller operation. thats why this happened.

[stats13]

I'm holding out hope that maybe a year or two from now I'll get a check for a fraction of the $1500 in my beted account

[pokerplayer22]

more like 1% now.

Deal

[thetrinity]

lol that c*****s still has the sponsored by beted banner up in their industry forum

[Legions36]

I'm holding out hope that maybe a year or two from now I'll get a check for a fraction of the $1500 in my beted account

Hey did u talk to that guy Lou on Covers cause i dont see any update from him since last night?

[stats13]

Hey did u talk to that guy Lou on Covers cause i dont see any update from him since last night?

he just updated saying the DOJ has taken everything from BETED.

[trixtrix]

lol, extremely typical of beted, steal player's money, blame problem on everyone else from the gov't to the players themselves

this is called the anti-stars approach

[pokerplayer22]

he just updated saying the DOJ has taken everything from BETED.

Supposedly yesterday beted told Lou at covers that all players funds are safe. What a fukin joke

[Legions36]

he just updated saying the DOJ has taken everything from BETED.

Damn oh well they can enjoy that $ as a tax and after they cut a deal is when we will probably have a chance to get our $ if any.

[thetrinity]

lol, extremely typical of beted, steal player's money, blame problem on everyone else from the gov't to the players themselves

this is called the full tilt approach

thats better

[thetrinity]

LOL at that this was c***ers.com's #1 book!

obviously why. they deserve some of the blame in this as well, the most blame still goes to the feds, even with how inept beted was.

[SBR_John]

KIA

Bookmaker, Bodog, Sportsbook, PokerStars and many many other sites have had money confiscated and still paid their players. BetEd lost $2 million and can not pay its players??? They were Covers #1 book and probably made at least $10 million a year for the last 5-8 years.

[thetrinity]

KIA Bookmaker, Bodog, Sportsbook, PokerStars and many many other sites have had money confiscated and still paid their players. BetEd lost $2 million and can not pay its players??? They were Covers #1 book and probably made at least $10 million a year for the last 5-8 years.

where do you see 2 million. the lions share of that 33 million was there money. i believe only 91k was bookmaker.

[skrtelfan]

BetEd stole from plenty of people before it was just a matter of time.

[trixtrix]

obviously why. they deserve some of the blame in this as well, the most blame still goes to the feds, even with how inept beted was.

most of the blame rests on beted, actually 100% of the blame does.

[Legions36]

where do you see 2 million. the lions share of that 33 million was there money. i believe only 91k was bookmaker.

In the course of 2 years 33 mil was processed not all at once and only 91k for bookmaker in the course of 22 years.