BetEd Sportsbook out of business

BrickJames · 05-25-11, 11:16 PM

It makes me wounder who will be next. like that song, "who could it be now" lol

iceminers26 · 05-25-11, 11:20 PM

Originally posted by BrickJames

It makes me wounder who will be next. like that song, "who could it be now" lol

James did you just reference a Men at Work song on a gambling site

Foosball Champ · 05-25-11, 11:21 PM

I had a bad experince with them 7 years ago they confiscated my bonus after the rollover. Dicks

BrickJames · 05-25-11, 11:23 PM

Originally posted by iceminers26

James did you just reference a Men at Work song on a gambling site

You know it!

LostBankroll · 05-25-11, 11:32 PM

Damn its a party crackin like its a Barmitzvah.

katstale · 05-25-11, 11:33 PM

They were always that way on the casino side too. going back at least 5 years.

Scooter · 05-25-11, 11:44 PM

Originally posted by RickySteve

No f'ing way in hell ALL of BetEd's money was in accounts seized.

I'm only on Page 1 of this thread, but it's my understanding the money seized is the money they had at the payment processor.

How much money do you think BetEd is paying out during a given week?
Not much I would think, and certainly a small percentage of their overall funds.

Philphan · 05-26-11, 12:21 AM

Any others that have been seized?

chrisharvard01 · 05-26-11, 12:47 AM

from lou at covers:

I know you guys are rightfully angry, but your anger is misdirected.

Be angry at the American government.

That is who is responsible. They have seized the funds of bank accounts held in foreign jurisdictions.

It doesn't matter how well betEd did or didn't run their business... you have to store your player deposits in a bank somewhere.

And if the American government can convince the local authorities to allow them to seize those funds, there's not a lot that a company like betEd can do. The funds get seized.

And if the American government wants to have them arrested, they will be arrested. That's what happened a couple of weeks ago to the poker dudes in Costa Rica and Guatemala.

So, feel free to fling as much blame on the betEd guys as you want, but they are in a much worse position than you.

You lost a couple of hundred bucks. Maybe even a couple of thousand. They have lost their business, their savings, and might go to jail.

Blame the American government.

----------------------------------------------

RickySteve · 05-26-11, 01:34 AM

Originally posted by Kindred

I did but they have my ip blockd so one post and I'm insta banned. Got a VPN I can use?

Unplug your router and clear your cookies before you go to sleep. Should be good as new.

onlooker · 05-26-11, 01:35 AM

Covers was always a joke to me. I only use their print sheets.

As far as betED, who are they?

flyingillini · 05-26-11, 01:37 AM

Originally posted by onlooker

Covers was always a joke to me. I only use their print sheets.

As far as betED, who are they?

If Onlooker was in charge of the offshore industry things would improve immensely. He knows the industry better than anyone. God Bless you Onlooker! How much for an 8x10 auto pic?

No coincidences · 05-26-11, 01:37 AM

Originally posted by onlooker

Covers was always a joke to me. I only use their print sheets.

As far as betED, who are they?

Covers has pretty good resources for betting trends and such.

I don't use them for anything else, though. To shill for BetEd looking back now is inexcusable.

RickySteve · 05-26-11, 01:46 AM

Originally posted by Kindred

So fill me in, never claimed to know all but as far as I know bodog never did anything worse than payment delays. I know they limit sharps quick, look at their lines even if I didn't read that in a forum it's obvious. I've read the new ownership as ruined the poker room for all but the squarest of the squares. But what am I missing, who got ripped off?

For what it's worth I bet Johnny Sack to get whacked first in the final season of sopranos and lost at Bodog. I knew he would die first from lung cancer from leaks, bodog wouldn't pay out even though BetUs did. I was mad and raised hell. But at end of the day they were right..and it was just a $50 bet anway but even if more I would have pushed just until I got my money back. THey were right, he wasn't whacked he died of lung cancer.

What else has Bodog done? Seriously I'd like to know. I had an account with them that was so old I forgot and openeed a new one and they informed me I had little over $200 in the old account. I didn't know I had ever played with them. If you want I can probably dig up the emails from 2005 or so.

So I know of no dishnest theft from bodog, and I have no money there but if I did I'd feel pretty safe about it. Teh rake they charge is another story, rape to say teh least. But to compare them to BetEd isn't fair, and as far as payouts go they are in the top tier unless their is something I don't know in which case enlighten me.

There were some live betting issues that I believe were not settled in favor of the players. I don't remember the details.

I also had that Johnny Sack bet and consider it the only dispute among a half dozen personally that Bodog didn't handle properly. Whacked is slang for killed. He was whacked by Joe Camel and animal fat and Superfund sites and turnpike exhaust and his own mutant cells.

I generally take any Bodog hate as either disgruntled losers upset they can't beat Bodog's lines or sore winners upset that they can't keep beating Bodog's lines.

No coincidences · 05-26-11, 01:51 AM

Originally posted by RickySteve

I generally take any Bodog hate as either disgruntled losers upset they can't beat Bodog's lines or sore winners upset that they can't keep beating Bodog's lines.

There is no reason for their line delinquency. None.

McFly86 · 05-26-11, 02:07 AM

Originally posted by chrisharvard01

from lou at covers:

I know you guys are rightfully angry, but your anger is misdirected.

Be angry at the American government.

That is who is responsible. They have seized the funds of bank accounts held in foreign jurisdictions.

It doesn't matter how well betEd did or didn't run their business... you have to store your player deposits in a bank somewhere.

And if the American government can convince the local authorities to allow them to seize those funds, there's not a lot that a company like betEd can do. The funds get seized.

And if the American government wants to have them arrested, they will be arrested. That's what happened a couple of weeks ago to the poker dudes in Costa Rica and Guatemala.

So, feel free to fling as much blame on the betEd guys as you want, but they are in a much worse position than you.

You lost a couple of hundred bucks. Maybe even a couple of thousand. They have lost their business, their savings, and might go to jail.

Blame the American government.

----------------------------------------------

Amazingly delusional viewpoint that player funds are insignificant. Sadly, this is typical of the unethical shysters who are in this industry.

vividjohn45 · 05-26-11, 02:25 AM

sigh. hard to believe a whole book closed down. absolute and tilt are still going. americans can still freeroll at absolute. for like wsop and

ap gear.

ap duffle bag. or ap track suit.

maybe beted can reopen just for freeerolls.

and bet ed tracksuits.

or bet ed tanktop freerolls.

also. ummm does this girl need a job? i'm sure we can find her one.

TheMoneyShot · 05-26-11, 02:32 AM

Originally posted by chrisharvard01

from lou at covers: I know you guys are rightfully angry, but your anger is misdirected. Be angry at the American government. That is who is responsible. They have seized the funds of bank accounts held in foreign jurisdictions. It doesn't matter how well betEd did or didn't run their business... you have to store your player deposits in a bank somewhere. And if the American government can convince the local authorities to allow them to seize those funds, there's not a lot that a company like betEd can do. The funds get seized. And if the American government wants to have them arrested, they will be arrested. That's what happened a couple of weeks ago to the poker dudes in Costa Rica and Guatemala. So, feel free to fling as much blame on the betEd guys as you want, but they are in a much worse position than you. You lost a couple of hundred bucks. Maybe even a couple of thousand. They have lost their business, their savings, and might go to jail. Blame the American government. ----------------------------------------------

Lou... Rizzo... All the other as$hole mods... F THEM!! Such a biased sports website.

I just love the lou (at covers) post... "Blame The American Government" such an easy way out Lou... for real. Why don't you blame yourself for promoting those BetEd A-holes to your followers. You are just as much to blame as the US. You run that damn website over there. About time you had some heat on your A$$.

vividjohn45 · 05-26-11, 02:35 AM

also. the us government did not get all the money.

rm18 · 05-26-11, 02:43 AM

Man I had like 50k in there one time, lucky I never been stiffed by a book only by one poker site pitbull

vividjohn45 · 05-26-11, 02:45 AM

here is bet eds dirty deeds done dirt cheap

http://www.sportsbookreview.com/sbr/beted/

u can click for a bigger picture.

kind of looks like beteds office. and also the employees.

tachi · 05-26-11, 03:33 AM

Originally posted by chrisharvard01

from lou at covers:
You lost a couple of hundred bucks. Maybe even a couple of thousand. They have lost their business, their savings

they ran with millions of $.
covers always promotes slow paying,unreliable bookies.

Sanka · 05-26-11, 04:00 AM

Deposited there last year for the 50% bonus, glad I scalped it all out instead of trying to pass the rollover.

Luckily I never redeposited, despite the reload offers they kept sending.

nyplayer33 · 05-26-11, 04:07 AM

so guy owes me 100 bucks and gets mugged....i should go after the mugger and the guy who owes me 100 is free/clear..lol....no lou at covers they took said risk in operating in usa....this is a bs excuse

Ltespd · 05-26-11, 04:25 AM

Originally posted by thisisit

BetED was a shot taker to players for years, anyone that played there got what they deserved..

Maybe you played there because you were a newbie. Maybe you saw the A rating Covers gave them. Regardless...no one deserved to get ripped off! Whats the point in kicking a bettor when he's down?

RenoOSB · 05-26-11, 05:03 AM

Originally posted by chrisharvard01

from lou at covers:

I know you guys are rightfully angry, but your anger is misdirected.

Be angry at the American government.

That is who is responsible. They have seized the funds of bank accounts held in foreign jurisdictions.

It doesn't matter how well betEd did or didn't run their business... you have to store your player deposits in a bank somewhere.

And if the American government can convince the local authorities to allow them to seize those funds, there's not a lot that a company like betEd can do. The funds get seized.

And if the American government wants to have them arrested, they will be arrested. That's what happened a couple of weeks ago to the poker dudes in Costa Rica and Guatemala.

So, feel free to fling as much blame on the betEd guys as you want, but they are in a much worse position than you.

You lost a couple of hundred bucks. Maybe even a couple of thousand. They have lost their business, their savings, and might go to jail.

Blame the American government.

----------------------------------------------

People should be writing back to Lou and letting him know that Beteds funds from two payment processors were affected. Thats money they were sending out to players in the form of payouts. The fact of the matter is that all of their money except for payouts is still in the hands of the BetEd management. If they decide not to pay players its outright theft. The US attorney's office has not seized anything, they have FROZEN the accounts of two payment processors that BetEd does business with.

So Lets Say Beted has $5 Million in the bank and $500K in pending payouts at the processor. The processors funds get Frozen. Beted can hope for them to be released or can chalk it up as a cost of
doing business and just send checks through a different method to their players. They are choosing to do neither and can walk away for $4.5 Million in player funds and blame the US government. That will be equivalent to their profits for a couple of years after expenses so they can walk away and screw everyone. Unfortunately there is not a darn thing players can do but to go after the site that sent them there. At this point c*vers is not prepared to accept reality that their #1 book took off with everyone's funds.

Podes · 05-26-11, 05:05 AM

Agreed.

Resler · 05-26-11, 05:06 AM

I almost took advantage of the 100% bonus. I saw the email twice and almost got out the CC, but glad I didn't.

nyplayer33 · 05-26-11, 05:19 AM

I'm not gonna wonder what will be next, I mean we have gas at 4 plus dollars, people can't find jobs, many many many things..end of the world according to some..and u want me to worry about sportsbooks..ill keep money nline..if it isn't for you then withdraw..let's not make this a drawn out discussion

mighty maron · 05-26-11, 05:24 AM

what was their final rating here?

saintjames · 05-26-11, 05:28 AM

what really sux is that beted does not have live call customer service

gryfyn1 · 05-26-11, 05:32 AM

looks like they lost a portion via the funds seizures and instead of trying to figure out how to make that up, they decided to cut and run ---

All this being set off by the US government seizures, which the US will use as an excuse for why they need to seize these regulated sites,

thespeculator · 05-26-11, 05:35 AM

covers will just shut down any thread with to many complaints, they kept sportsbook.com number one after months of complaints ,this is what they came up , even now sportsinteraction is 1 and pinnacle 2, that is funny, sorry to you guys who lost your cash it gotta hurt,

keep hope alive( a little jesse jackson) to make people even more angry

Thremp · 05-26-11, 06:04 AM

Originally posted by RickySteve

I generally take any Bodog hate as either disgruntled losers upset they can't beat Bodog's lines or sore winners upset that they can't keep beating Bodog's lines.

Bodog Live was basically constructed/carried out in a way that defrauded players. Winning players were accused of using faster feeds. Losing players were allowed to lose. It was no different than any other scam perpetuated by any other organization. Whether out of malice or just abject stupidity. It was heinous.

thisisit · 05-26-11, 07:21 PM

Originally posted by Ltespd

Maybe you played there because you were a newbie. Maybe you saw the A rating Covers gave them. Regardless...no one deserved to get ripped off! Whats the point in kicking a bettor when he's down?

If this was the begining of the internet gambling phase, I would agree ESB, and places like that how would you know. In this day, and age when you could google BETED, and read pros and cons noway do i feel bad for the players. Please don't give me the A+ at covers excuse either. Do you read one review on a product online before you buy it? No you go to multiple sites, that is common knowledge. People played there cause of the bonus's, or the fact they didnt wanna waste the time to do real research on the book.