BetED bailout scam

[stats13]

you guys are gonna get a kick out of freedom's latest post. its in the "truth about beted" thread.

[todd73nj]

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.

[quote=Extra Innings;10369069]Blame someone else (the US Gov't) for bad behavior. Covers and BetED mgmt need a time out.


Im not agreeing with their methods in any way!

But what was their rating before this happened? Because everyone here is so supportive of SBR, as they should be. I think everyone appreciates the job SBR does. And Im just curious as to what their rating was?

I looked on the list and its gone. Figured maybe some updates with old ratings.

[NSN21]

I think they were a C-, but I am not 100% sure on that

[Extra Innings]

I think they were a C-, but I am not 100% sure on that

in the C range.

[Extra Innings]

Im not agreeing with their methods in any way!

But what was their rating before this happened? Because everyone here is so supportive of SBR, as they should be. I think everyone appreciates the job SBR does. And Im just curious as to what their rating was?

I looked on the list and its gone. Figured maybe some updates with old ratings.

5/24/2011 01:17 PM
BETED downgraded from C+ to C
8/17/2010 11:59 PM
BETED downgraded from B- to C+
10/27/2009 07:45 PM
BETED upgraded from C+ to B-
2/6/2009 05:52 PM
BETED downgraded from B- to C+
8/30/2007 01:07 AM
BETED raised from C+ to B-
8/1/2007 05:51 PM
BETED upgraded from C to C+
9/23/2005 04:38 PM
GrandSlam - SBR initiates coverage at C+, BETED upgraded from C- to C
6/17/2005 02:48 PM
BETED - SBR initiates coverage at C-

[BigSpoon]

But what was their rating before this happened? Because everyone here is so supportive of SBR, as they should be. I think everyone appreciates the job SBR does. And Im just curious as to what their rating was?

I looked on the list and its gone. Figured maybe some updates with old ratings.

Like the poster above me I am pretty sure they were rated as a C- book at SBR. A little generous in hindsight obv.

[Extra Innings]

Like the poster above me I am pretty sure they were rated as a C- book at SBR. A little generous in hindsight obv.

I believe there was little in the way of foreseeing that they would pick up and run. A (C) rating puts you funds at a 50/50 risk, covers had them rated #1.

[donkdown]

This is just sad that there is a bailout deal and these pieces of shit wont take it!! Everyone involved name's number's and addresses should be plastered on every forum going!! Along with there families info!! Plain bs that the player's are going to take a hit because ED is a crook!! I knew this guy was a crook 2 years ago when the Pittbull poker fiasco went down! Those ***** robbed me of 2500 I brought it to Ed's attention b4 any story of them ripping off ppl came out. He did nothing and after the fact he never returned one cent to players that lost to the superusers on that site.. Tony at 5dimes returned all money lost if u played on pittbull.. ED is a crook and he should be shot and hung in a public setting!! They should of been a F for the Poker thing alone!! SBG is d- they have paid me over 200k over the years and this pos book was a c?? Something not right here!!

[Bill Dozer]

Like the poster above me I am pretty sure they were rated as a C- book at SBR. A little generous in hindsight obv.

Sometimes we have inside info but the rating is not a crystal ball. They are based largely on what you can read on their SBR page history: BetEd which overlaps with feedback on the forum. BetED would actually have been rated higher but they weren't always fair to players and reached for ways to apply rules to void big winner balances. Players who took advantage of the info that was here and the last two SBR downgrades might have concluded that BetED was not a place they wanted to keep big balances. The attitude they showed during disputes is the same that would lead to turning down a bailout because there wasn't enough in it for them.

BetED did have assets and a history of good payout processing times and a good amount of years online. Looking back 'C' was about right...especially if they took a bailout offer that shows assets do = lower risk. If we moved ratings after it didn't matter, they'd obviously be an F now.

[nosniboR11]

looks like the betphoenix family books is trying to do the exact thing

calling 5 times a day looking for deposits

[GamblingMike]

Disgusting on the part of BetEd!

[cloudagh]

No need to mix phoenix in with Beted.

[jimbo747]

Agree cloudagh. Phoenix far dodgier.

[beyond]

covers said there no bailout, game over

[austin]

wow unbelievable. double scam

[todd73nj]

Didnt want to quote everyone who said they were C or C-, but thanks.

But thats an obvious reason to stay away from those books. They have to be a C- for a reason. Covers isnt SBR. I love some of the covers trackers, but when it comes to rating sports books - you always see some questionable books featured on there.

I believe there was little in the way of foreseeing that they would pick up and run. A (C) rating puts you funds at a 50/50 risk, covers had them rated #1.

As far as forseeeing the safety of your funds - if you are saying they are at a 50/50 risk - thats a risk Id never take with all the other books out there that have A ratings and great service history.

You could find plenty of negatives about Bet Ed on here... but not on Covers. But the books on here that you cant find negatives about - you probably wont find negatives on other sites.

[Ballpark]

covers said there no bailout, game over

Is this official on their site or forum?
I can't see any announcement.

[StraitShooter]

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?

yeah..me too..the good old citcom\**\{primapin days..I left after this option went south

[Frogger]

BetEd.com are the worst kinds of scum. I thought this before, so I'm not too surprised by this, but still hard to believe someone would miss meetings and not even give an answer to the BetOnline generous offer. These owners can't think beyond the present, and I just hope they get punished not only in this industry but in any future business dealings people know these people are scum and stay far far away.

I never respected covers for advertising books that obviously steal, but they need to come out with a strong statement distancing themselves from BetEd along with a full condemnation of how BetEd owners are acting.

[alling]

BetEd.com are the worst kinds of scum. I thought this before, so I'm not too surprised by this, but still hard to believe someone would miss meetings and not even give an answer to the BetOnline generous offer. These owners can't think beyond the present, and I just hope they get punished not only in this industry but in any future business dealings people know these people are scum and stay far far away.

I never respected covers for advertising books that obviously steal, but they need to come out with a strong statement distancing themselves from BetEd along with a full condemnation of how BetEd owners are acting.

How can they distant themselves when its been reported Covers owns 95% of Beted?

[borgata]

any advice SBR can give to the players regarding bailout or their money ?

[Extra Innings]

any advice SBR can give to the players regarding bailout or their money ?

It's over borgata. It's over!

[lt56]

It's over borgata. It's over!

Exactly; BetEd was seized by DOJ on May 26th. Their money and assets frozen. They're finished. No one in their right mind would cut a deal with them. The processor in question was a set up; a processor set up by Homeland Security and watched for over a year. Unfortunately; this is no game; it really sucks. Doubtful anyone's laughing from BetEd

[dzzznutz]

yeah covers was gettin greased heavily to spin for bet ed. any bet ed thread leading up to doomsday was constantly positively spun by lou from covers they greased em and played em

[SBR_John]

yeah covers was gettin greased heavily to spin for bet ed. any bet ed thread leading up to doomsday was constantly positively spun by lou from covers they greased em and played em

Reading between their lies it appears they wanted to set up a deal at a book that would honor their marketing deal which was a lifetime deal on players they sent.

They tried to make that work but no one was interested. They looked into setting up a white label at sportsbook.com or SBG but their "preferred partner" would only offer them a token amount. They knew they would be burned to the stake going through another crap book with a lot worse terms than the offer from BetOnline.

So they decided to walk away from BetEd completely and let it die.

That's my best guess.

[todd73nj]

Exactly; BetEd was seized by DOJ on May 26th. Their money and assets frozen. They're finished. No one in their right mind would cut a deal with them. The processor in question was a set up; a processor set up by Homeland Security and watched for over a year. Unfortunately; this is no game; it really sucks. Doubtful anyone's laughing from BetEd

When you say the processor was set up by Homeland Security - does that mean the they will go after anyone who used it to deposit/withdraw also?

I dont think Ive ever read a story about them going after a player. Are there such instances?

That would be really awful, to have lost money that you had in your account - and then get a letter from the DOJ.

[Thremp]

So releasing the BOL terms helped players get stiffed completely?

THANKS SBR!!!

[pokerplayer22]

So releasing the BOL terms helped players get stiffed completely?

THANKS SBR!!!

Brutal

[reddog61]

Hmmm?????

I have been watching this whole thing unfold and something smells fishy to me. Freedom's last post over at Covers was that "He was trying to contact someone in the DOJ to talk about releasing funds for players"...... I can't imagine why the Government of the United States would talk to anyone that has said "They don't own or have never owned any part of BETED"! Who is Covers to be talking to the DOJ on behalf of someone as I can't imagine the DOJ would be interested in talking to a non entity of BETED... honestly I think those guys over there think that most players are complete idiots.....

[chrisharvard01]

covers has lost all credibility

[Ballpark]

So SBR, as far as you know is there now zero chance of a bailout happening via Covers?

[alling]

When you say the processor was set up by Homeland Security - does that mean the they will go after anyone who used it to deposit/withdraw also?

I dont think Ive ever read a story about them going after a player. Are there such instances?

That would be really awful, to have lost money that you had in your account - and then get a letter from the DOJ.

The only government entity to maybe worry about is the IRS. Since BETED routinely limited winning players doubt there would be many people in the IRS crosshairs.

[pokerplayer22]

Hey Bill...in your opinion, would the betonline bailout deal have got done if it had not been for covers getting in the way???

[ffeafeaaaaaaaaa]

A friend sent me that email with the 100% bonus promotion, it is ok, probably the only sign there was the RO being too good. But, no one can claim that saw it coming, or BetEd had a background of anything bad. They just fold under pressure, and fold big time.

[cloudagh]

Where is the bailout love for Cascade.