mybet.com Won't Pay Out. BEWARE !!!

Stumpage · 01-11-09, 10:32 AM

Money laundering? Wow, just when I thought I had heard everything...I guess they didn't have a problem hanging on to that laundered money for the past couple of years. Anyway, good luck. Wish I could offer some hopeful advice, but it appears they are part of the Jazette group (ie: Organized Theft Ring).....

bigboydan · 01-11-09, 01:33 PM

First off, Welcome to the SBR forum

The only rule I can remember off the top of my head that Mybet had in place is if you violate the rules they keep 10% and return the rest. Please feel free to fill out a complaint form and one of us will inquire to them on your behalf to find all the details surrounding your dispute, sir.

Mybet · 01-12-09, 02:21 AM

Kindly disregard what voin said.

We discovered that this is really a case of money laundering. He was 'laying' big underdogs on the exchange at odds of 1.02 and his 'friends' were buying them at high stakes in order to transfer money.

We had already caught some of his friends and that's how we arrived to him. He even emailed us now threathening us with a 'Doss Attack'.

bigloser · 01-12-09, 03:23 AM

Originally posted by Mybet

Kindly disregard what voin said.

We discovered that this is really a case of money laundering. He was 'laying' big underdogs on the exchange at odds of 1.02 and his 'friends' were buying them at high stakes in order to transfer money.

We had already caught some of his friends and that's how we arrived to him. He even emailed us now threathening us with a 'Doss Attack'.

Where do your rules allow you to confiscate his money?
If it is money laundering surely it isa case for the police, perhaps they should decide.
Irrespective of the outcome you have no right to the money

CS-Cedrick · 01-12-09, 03:47 AM

Originally posted by bigloser

Where do your rules allow you to confiscate his money?
If it is money laundering surely it isa case for the police, perhaps they should decide.
Irrespective of the outcome you have no right to the money

You're damn right on that, have no rights at all unless they're an auhority or at least have their permission.

noyb · 01-12-09, 07:11 AM

if the story about laying underdogs at low odds to move money around is true, i would say it's a bit far fetched to call it money laundering. it is however chip dumping, poker accounts are locked for that reason all the time with only deposits being refunded. that's common practice by mybet, and very very stupid behaviour of the guy who started this topic, whether you like it or not.

voin296 · 01-12-09, 01:50 PM

Originally posted by noyb

if the story about laying underdogs at low odds to move money around is true, i would say it's a bit far fetched to call it money laundering. it is however chip dumping, poker accounts are locked for that reason all the time with only deposits being refunded. that's common practice by mybet, and very very stupid behaviour of the guy who started this topic, whether you like it or not.

there is no chip dumping .. I did not play poker

there was no refunds whats whatever

and there is no refunds

they did not contact the police ''I know this 'cose I went there my self and filed a complain''

so call how you want but I call it stealing money. is like if your bank would say you know we think you make to mutch money .. we will lock you account and keep the money

tomwakefield · 01-12-09, 04:29 PM

Originally posted by voin296

there is no chip dumping .. I did not play poker

Different method, same basic principal. Deliberately arranging bets to attempt to move money from one account to another is always frowned upon.

Out of interest, I received a €800 withdrawal on 15th December no hassles.

Justin7 · 01-12-09, 05:03 PM

Originally posted by Mybet

Kindly disregard what voin said.

We discovered that this is really a case of money laundering. He was 'laying' big underdogs on the exchange at odds of 1.02 and his 'friends' were buying them at high stakes in order to transfer money.

We had already caught some of his friends and that's how we arrived to him. He even emailed us now threathening us with a 'Doss Attack'.

You had better have a much better reason for confiscating funds than this. Money laundering by definition is the movement of profits from a criminal enterprise. If you are accusing a player of laundering money, you had better be able to prove this player is a criminal.

If this is the only "wrongdoing" of the player and he filled out a complaint, I would advise settlement in his favor.

noyb · 01-12-09, 05:15 PM

Originally posted by Justin7

If this is the only "wrongdoing" of the player and he filled out a complaint, I would advise settlement in his favor.

the only wrongdoing?? you're really saying you would rule in favour of the player or even take on his case, if (and i'm saying if) a betting exchange has convincing evidence the player was moving money from account to account by laying and then immediately himself backing the same markets at ridiculous prices? that's a pretty big offense if you ask me.

bigloser · 01-12-09, 05:57 PM

Originally posted by noyb

the only wrongdoing?? you're really saying you would rule in favour of the player or even take on his case, if (and i'm saying if) a betting exchange has convincing evidence the player was moving money from account to account by laying and then immediately himself backing the same markets at ridiculous prices? that's a pretty big offense if you ask me.

why?

Justin7 · 01-12-09, 06:17 PM

What's wrong with this? Why does the exchange care, if they get to juice the player on each transaction? As long as there is nothing criminal, a player is free to do with his money as he sees fit.

APK · 01-12-09, 07:01 PM

Maybe it's against the rules of the regulator and it might cost them their licence?

noyb · 01-12-09, 07:39 PM

Originally posted by Justin7

What's wrong with this? Why does the exchange care, if they get to juice the player on each transaction? As long as there is nothing criminal, a player is free to do with his money as he sees fit.

ok, fair enough. so: as far as you are concerned, chipdumping is also perfectly ok (exact same mechanism, the site gets its rake), assuming the provider is unable to prove anything criminal has actually taken place?

noyb · 01-12-09, 07:47 PM

Originally posted by bigloser

why?

i can think of a number of reasons why. assuming the guy is not a complete lunatic, there has to be reason for this kind of action, and I cannot think of any reason a book would approve of.
For example, opening multiple accounts in false names to circumvent limits in the MyBet sportsbook, then transfering winnings to the exchange, and then losing it all to the one account which does have a valid name, to prevent any ID-requirement upon withdrawal on the fake accounts is one very basic strategy I can think of. I can think of more, but not much point in speculating as I don't have any details or have any idea what kind of proof MyBet has. Imo they do have the right to be very suspicous though.

Justin7 · 01-12-09, 08:24 PM

The main reason poker sites don't like chip dumping is because there are fraud issues. Player A loses 10k very quickly, and later complaints that someone hacked his account. This causes grief for the book regardless of whether there is truth to it.

If there were a law in a country against "chip dumping" or "wager dumping", I'd view this entirely differently. Is there such a law? Absent a law on point, any criminal activity, or any other reason why a player should not be allowed to "dump" money to a friend, why can a book penalize you for it?