BetED - Possible Good News?

[Ballpark]

http://www.gambling911.com/gambling-news/betedcom-founders-just-narrowly-avoided-arrest-us-052611.html

"As for BetEd.com customers, they appear to be the biggest losers in all of this, at least for now.
Eventually they should be able to file claims with the US Attorney’s Office, similar to what happened when a popular payment processor, NETeller, had funds seized by the US Government in 2006. That process took approximately nine months, however."
- Christopher Costigan, Gambling911.com Publisher




Would this be good for both U.S and European players at BetED who are owed money, or
just one or the other?

[dikefale]

I hope for all you guys to receive money

[cyberinvestor]

Not to be Debbie Downer, but the speculation is that BetEd didn't leave the money with the processor but instead is using this excuse to run off with the player's money as a "golden parachute".

In which case the money left at the processor would be a drop in the bucket to the money owed to BetEd's clients.

I hope that everyone gets all their money back but just being upfront.

[xstud]

Here is my concern.... Before money was seized from a processor (Neteller) and now money is essentially seized from the gambling site itself. I realize it technically was seized from a processor but only a handful of sites were involved so the money can be traced directly to the source a lot easier compared to Neteller where essentially everything was frozen.

I hope everyone does get their money back but like cyberinvestor said I find it highly unlikely that the government seized everything BetED had. Clearly they ran a scam promotion offering the 100% bonus just days before the seizure. I would say best advice is just attempt a **********.

[JoeVig]

The feds really don't seem to be interested in players, at least in a criminal setting. Maybe they send the list over to the IRS for tax evasion.

[patswin]

I hope everyone gets paid too

[Legions36]

Well we probably will get paid but it can take upto 9months so dont think it will be fast, expect it by next February .

[robmpink]

I hope everything works out.

[Kindred]

Not to be Debbie Downer, but the speculation is that BetEd didn't leave the money with the processor but instead is using this excuse to run off with the player's money as a "golden parachute".

In which case the money left at the processor would be a drop in the bucket to the money owed to BetEd's clients.

I hope that everyone gets all their money back but just being upfront.

I agree 100%, Beted most likely cut and ran with most of the money which would only leave a percentage of player balances to be claimed. Hope I'm wrong but I doubt the claim that every cent was with a single payment processor and it's all frozen, which means the frozen money won't cover all the money owed to players. Hopefully I'm wrong and everyone eventually gets their money.

[Seattle Slew]

Big difference was Neteller was trying to stay in business, which they did. They had no choice but to return funds to players when the accounts were unfrozen.

BetEd has already closed up shop.

[Fa11en]

There is literally zero chance that beted players will get paid. The company was not successful enough to even consider resurfacing under a different name. Maybe down the road they will try to sell their clientele list but that is unlikely. Sorry BetEd patrons.

[cyberinvestor]

Unfortunately I think Fallen is correct. We cannot compare Neteller to BetED. We have to compare BetED to BetonSports.

[nyplayer33]

How would you be able to prove how much you had in your account though...

[TobiasFunke]

Sorry but the US attorneys office is not going to care about money that was seized from players gambling with BetEd.

[slash]

Of course noone will be paid from BetED. I wouldn't even pay 1 cent on the dollar.

[thetrinity]

aint lookin good miracles do happen

[pokernut9999]

Site always seemed fishy to me , glad I never played there.

[princecharles]

all a bunch of nonsense

dont believ eit

[frankthetank]

probably never see your $ again. The guy over at Covers says he will ensure everyone gets their money back. Yeah Right.. LOL