Credit Wagering synopsis

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  • magynuck
    SBR Wise Guy
    • 09-17-09
    • 891

    #1
    Credit Wagering synopsis
    [COLOR=#000000 ! important]They burst on the scene with a perfect business model. Offer a free $1000 limit to everybody (in an environment so honest that Willie Bee has nothing to do because nobody tries to circumvent the system for points which are way more valuable than money) and offer lines so weak they make SIA look sharp. All that was left was to open the doors and wait for the money to roll in.

    Now don't get me wrong. They were a must have out...tell them Uncle Richie sent you. They needed to establish some credibility so to do that if you got in on the ground floor they paid quickly. If you knew what you were doing , you are walking around with thousands of their dollars in your pocket. However, all good things must come to an end.

    For nearly half a year, basically they have been running a Ponzi scheme. They are paying slowly because they are keeping most of what they get in and paying out in a trickle so they can say they have had nobody they did not pay. Anybody who has played there can validate this because the statistical probability that one company can have as many processor difficulties as them is astronomical.

    Now the next piece of advice will probably cost me a couple of thousand dollars since it will reduce the chances of getting paid but like anybody who went into this with "eyes wide open" would have done I reduced my exposure with them when the warning signs first presented themselves. If you owe them money, politely tell them that you are not stiffing them but you are waiting until they start paying those who are owed money on a "regular" basis, not just a few here and there, until you pay them. If they are a reputable company they will understand and collect payment from you when their processors are up and paying out weekly. If "they are who we think they are", they will react violently.

    While this will reduce my chances of getting paid, I hope it will decrease the amount of people getting "stiffed" paying CW when they are not going to be paid if they win.
    [/COLOR]
  • WileOut
    SBR MVP
    • 02-04-07
    • 3844

    #2
    When was your payout request made? I am waiting since mid November. My payout request was made in Mid November.

    I paid them immediately the times I was down to them.
    Comment
    • smitch124
      SBR Posting Legend
      • 05-19-08
      • 12566

      #3
      My Payout request was made in late November, I was paid by ** last week.
      Comment
      • WileOut
        SBR MVP
        • 02-04-07
        • 3844

        #4
        Originally posted by smitch124
        My Payout request was made in late November, I was paid by ** last week.
        WTF? Why would they pay you before me? Don't get me wrong, I am very happy that you are paid but it makes no sense.
        Comment
        • smitch124
          SBR Posting Legend
          • 05-19-08
          • 12566

          #5
          Maybe mine was less money? ($400)
          Comment
          • WileOut
            SBR MVP
            • 02-04-07
            • 3844

            #6
            Originally posted by smitch124
            Maybe mine was less money? ($400)
            Mine is around the same. I don't think that is it.
            Comment
            • smitch124
              SBR Posting Legend
              • 05-19-08
              • 12566

              #7
              Hmmm don't know. The point of my post though was that I got paid recently so you should as well.
              Comment
              • magynuck
                SBR Wise Guy
                • 09-17-09
                • 891

                #8
                Smitch I am glad you were paid. I have been paid many times. It used to be like clockwork. Then 1,2,3,4....week delays.

                The point of my thread is now if they have 10 people owed they pay 1 or 2 a week and put the others off. They get the advertising of paying players and yet their overall debt is increasing weekly. Ask yourself if they can pay some every week why can't they pay everyone? My latest withdrawal is a month and counting.
                Comment
                • soxwin1917
                  SBR MVP
                  • 09-09-08
                  • 1188

                  #9
                  It's clear the CW ship is heading for the iceberg. They we're a nice out for a little bit, but now theres no reason to continue playing there.
                  Comment
                  • smitch124
                    SBR Posting Legend
                    • 05-19-08
                    • 12566

                    #10
                    Originally posted by magynuck
                    Smitch I am glad you were paid. I have been paid many times. It used to be like clockwork. Then 1,2,3,4....week delays.

                    The point of my thread is now if they have 10 people owed they pay 1 or 2 a week and put the others off. They get the advertising of paying players and yet their overall debt is increasing weekly. Ask yourself if they can pay some every week why can't they pay everyone? My latest withdrawal is a month and counting.
                    I totally understand what you are saying, anybody could see red flags all over the place. What I find really odd, though, is their free contest. They give out $3000 a week and have $52,000 as a grand prize fund. My recent payment was from their free contest and I don't even play at CW.com (although I transfer the money there before withdrawing). Just find it odd that they even bother with such a contest if they are that strapped for cash

                    ah the speculation continues ......
                    Comment
                    • magynuck
                      SBR Wise Guy
                      • 09-17-09
                      • 891

                      #11
                      Credit Wagering customer service rep application.

                      Monday...sorry sir check back middle of the week

                      Wednesday....maybe Friday

                      Friday...Should be this weekend

                      Sunday...Next week for sure

                      Monday repeat
                      Comment
                      • Bugeater
                        Restricted User
                        • 12-25-09
                        • 3

                        #12
                        This forum loves to bash Credit Wagering, and there are a lot of holes in their business model, but I would guess they have picked up a few juicy customers that are honorable that dont have a local agent.

                        Maybe I'm wrong, but I would guess they are around forever, weather or not they end up paying these other guys.
                        Comment
                        • magynuck
                          SBR Wise Guy
                          • 09-17-09
                          • 891

                          #13
                          Now they have "suspended" payments until the New Year
                          Comment
                          • WileOut
                            SBR MVP
                            • 02-04-07
                            • 3844

                            #14
                            I was paid this weekend.
                            Comment
                            • pats3peat
                              SBR MVP
                              • 10-23-05
                              • 1163

                              #15
                              bullshit book
                              Comment
                              • acarmelo1
                                SBR Hall of Famer
                                • 09-29-09
                                • 6321

                                #16
                                Do not pay until the pay STIFF DOES MOTHER FUKERS!!!!
                                Comment
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