I am from Europe. Over the last couple of days I had several chats with their CS and was told that as of today they offer their service to several European countries.
Over the past weeks several posters of this forum mentioned that it seems like they currently have low funds, their moneybookers account may be dry, customers got moneybookers wd rejected etc etc etc.
All that could be true indeed.
According to the CS every European customer has to send them 100 Euro for avoiding fraud. What? I should send them 100 Euro for avoiding fraud? I guess they try to fill up their mb account and pay other customers with that money. Why should i post up 100 Euro to a creditshop for getting a 1k credit line? Even by sending them 100 Euro I could set up several mb accounts and send them e.g. 1k by mb, have 10 accounts with a 10k creditline etc etc etc.
To me this is a clear sign for loading up their mb account with the 100 Euro fee and pay other customers with the money which then will be in their mb account.
Example: 500 European customers * 100 Euro = 50000 Euro or 70345 USD
Presumably the €100 is meant to be a security deposit to deter people from stiffing them as it will be more costly for them to enforce any gambling contract against you. I'd be interested in whether it was legally enforceable against the bettor in a Euro jurisdiction such as the UK where gambling contracts are legally binding. Guess it would depend on the terms of the site, and where they state the contract is concluded, as well as whether those terms would themselves be seen as valid.
Regardless whether they're hard up and you might have troubles getting paid if you win, I'd advise against gambling on credit. Don't bet more than you can afford to lose, and if you're borrowing to bet, you can't afford to lose anything.
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Creditwagering - is this a bad sign???
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