BetED bailout scam

[Bill Dozer]

We've received a bunch of questions about what a bailout would or could include....BetEd could include whatever terms they wanted including the pending future bets or the bonuses that are almost fully rolled over. Their first priority is getting more cash for themselves so they'll likely make the debt liability look as small as they can. They'll take the money instead of passing on what they can to the players.

They are essentially stealing from players twice by asking for cash and lessening the value of your money with balance requirements. By asking or receiving anything, players get less. It's not a new scam and has been going on since the early years. Sportsbook takes X in deposits and sells them to book Y for a profit and book Y adds a rollover and makes a profit. Everyone wins except players.

Covers really shot themselves in the foot by putting BetED's private terms out there and how BetEd had actually asked for cash and revenue share for the privilege of picking up the tab for their players. We didn't want BetED to turn away from the BetOnline offer because we publicized their requests for cash... but now that the curtain is pulled back, players can see how the scam was developing and why they wanted to ignore and discredit legit bailout offers.

[Dark Horse]

Give us the names of these guys, Bill. They're thieves, who won't be arrested and convicted in court, so at least let them feel a little public heat. Let them look over their shoulders for the rest of their lives.

[stats13]

hey covers, freedom, lou, i know you are reading this. y'all are f'n suspect!

(actually you're beyond suspect, you're really guilty - all your promises are flat out lies and spin)

[kero214]

So Bill, was Betonline the Book you were hoping would bailout Beted?

[Legions36]

So Bill, was Betonline the Book you were hoping would bailout Beted?

Yes that is the one.

[steve18]

Not surprising one bit.

[beyond]

they just waiting for a better deal for themselves. They already robbed the players with the 100% reload bonus thing at the end. Do you think they give a **** about the players now ?

[Bill Dozer]

So Bill, was Betonline the Book you were hoping would bailout Beted?

Yes. They were on it fast which is important in a bailout and they were the only ones who got as far as the basic figures from BetED. The offer was on the table and BetED didn't bother to even say no thanks when they were set to talk again.

There was another highly rated book that wanted to offer a full bailout but BetED missed their scheduled meeting. No chance that book #2 would put cash in their pocket either and they probably figured that out early on. Two other lower rated books wanted to discuss but BetED had no interest. Some of the biggest highly rated books who have bailed out others never got a call.

[gafl]

Doubt that any top book would want to be associated with Covers in any way after this.

[castaway]

How is it

Used to play there when it first opened. Didnt care much for it, but they did have
a nice Instant Check deposit opition which worked well and cash outs were easy there at that time I guess...Down hill? or still good?

[jeffksu]

Unreal...how can a book be so shitty to it's players, that have deposited and help them stay in business...What a kick in the ass this is...

[the_situation]

BetED is a pathetic joke...unreal what they're doing

[thisisit]

Bill Dozer what was the last decent sized book to be bailed out by a top notch book?

[tblues2005]

Bill what do you think is going to happen now with this issue? I know a few guys that have an account with them.

[alling]

they dint jump at it because they want to keep the funds

Wish I could have bet it was a scam.

[Bill Dozer]

Bill Dozer what was the last decent sized book to be bailed out by a top notch book?

Maybe the Las Palmas books that CRIS took over. There were some others but their conditions were they are billed as purchases or takeovers. In most cases once the book is offline a bailout is all but impossible. The valuable players are already scared into withdrawing at all costs.

Bill what do you think is going to happen now with this issue? I know a few guys that have an account with them.

I don't know. The only people who were speaking for BetED and working on their deals are distancing themselves from the whole thing.
Books that wanted to help are having to sit back and watch this turn messier and messier... probably now hoping this steaming pile doesn't come back their way. Almost every book in CR can't believe what's going on.

[Trident]

Looks to me like Covers is shopping for the best deal for them and the thieves from BetEd instead of putting the players interests first and foremost.

[DwightShrute]

thanks Lou

[blackbart]

they are trying to deflect criticism off themselves by attacking dozer, in some convoluted attempt at spin.

[Legions36]

All im saying is they think they will get away with $ they are wrong, things tend to work themselves out and if they scam people they will get theres everything always comes back to u when u screw people over. So the best thing to do is just give people a chance to get their $ or things will get worse than before for even trying to scam so many people.

[acarmelo1]

[stats13]

so who sucks more, beted or covers

[todd73nj]

so who sucks more, beted or covers

Or is it the US Govt?

I dont agree with what BetEd has done at all. But its our own Govt that forced this issue. Im not sure what BetEd's SBR rating was before the this situation, but it seems that after being seized the more reputable books resurfaced very quickly.

[Doug]

This offshore business gets dirtier every day !

[mtneer1212]

Give us the names of these guys, Bill. They're thieves, who won't be arrested and convicted in court, so at least let them feel a little public heat. Let them look over their shoulders for the rest of their lives.

Someone mentioned J********** and M**********, but I cannot confirm that. So please treat this as unconfirmed.

[Extra Innings]

Covers should have their domain name seized because of their actions.

[Legions36]

Or is it the US Govt?

I dont agree with what BetEd has done at all. But its our own Govt that forced this issue. Im not sure what BetEd's SBR rating was before the this situation, but it seems that after being seized the more reputable books resurfaced very quickly.

Don't let these crooks fool u as they knew they were gonna get hit before it happened and they went that extra mile to send emails to everyone of there customers with a 100% bonus upto $250 on the friday before it happened. They have never given away a reload bonus like this, i remember gettng emails for at the very most 40%. I can only imagine how many people fell for it and deposited right away, i did and lost $300 in the deal.

[Extra Innings]

Blame someone else (the US Gov't) for bad behavior. Covers and BetED mgmt need a time out.

[cloudagh]

I am a Cascade victim, always looking still for love from a bailout book savior. Almost any terms acceptable. Maybe BOL will make us an offer we can't refuse. Many of us are on file with SBR.

[nyplayer33]

covers is lookin really bad in this

[Bill Dozer]

Unfortunately we've spoken with every decent book, including the ones advertising on Covers.com and none have anything going with a bailout at this time. It does not look good. Offer stands for rep from betED to contact SBR.

[shari91]

Unfortunately we've spoken with every decent book, including the ones advertising on Covers.com and none have anything going with a bailout at this time. It does not look good. Offer stands for rep from betED to contact SBR.

Ok well, betDead and Covers can go get fukked. Seriously.

I realise the individual balances at this book wouldn't be in the pro ballpark so maybe they're not as dramatic as others. But that's what makes it worse to me. The people getting screwed here are every day gamblers like myself who just hope to make a bit of profit if we're lucky. Not pros, not carrying massive balances in relation to others, but still carrying balances that are important to us. And some of those balances carry deposits made thanks to the lovely 100% matching offer that came sailing out of the air on the Friday. Lovely.

I only wish that a decent book had offered a prop on whether this supposed bailout that Covers kept mentioning would've happened this week. Many of us in the other thread expressed our doubts. At least we could've placed some bets and helped to get some of the stolen money back for you guys because honestly, if you get it back from these pieces of trash now, I'll be truly surprised. SURPRISE ME BETDEAD AND COVERS!!

[LostBankroll]

Covers and Ed from BetEd are laughin somewhere in Belize while they snort all the drugs of their choice.

[princecharles]

this is such a total scam
what a shame

[FutureShock]

Props to SBR, as usual, for being credible and transparent and for keeping us all informed.