New Betting Exchange

**elgreco** · 01-15-12, 10:44 AM

Dude has emailed me twice asking for my ID so he can pay back my BTC balance. I literally registered with the name El Greco, we'll see if he pays it back without an ID.

**Legions36** · 01-15-12, 11:14 AM

Sucks personally i would not send them anything. Just think why would they want that now after scamming people, also that other poster should be banned he is the reason people even know about this place.

**Kindred** · 01-15-12, 01:56 PM

I use my bitcoins to buy pot on silk road, not going to waste them in this fishy looking site. We do need a good exchange but this just seems like fly by night operation to me. Hope I'm wrong.

**alling** · 01-15-12, 02:52 PM

link is dead

Forbidden

You don't have permission to access / on this server.

Additionally, a 403 Forbidden error was encountered while trying to use an ErrorDocument to handle the request.

Apache/2 Server at www.sportstradingexchange.com Port 80

**lsuheat911** · 01-16-12, 08:49 PM

did you guys get a second email that reads like this?

Please forward photo ID and Bitcoin address so we may process your
withdrawal.

Thx
Ops Dept

**elgreco** · 01-20-12, 08:06 AM

I got the same email. I explained that I registered under the name: El Greco and that I am not sending an ID. I included a BTC payout address for him to refund my balance, and surprise surprise, I haven't received sh!t yet.

I opened up a general bitcoin thread in The Saloon. I'm thinking we should keep the general Bitcoin chatter out of the "Sportsbooks & Industry" section.

SBR Forum - Sports Betting Talk - Sportsbook Review Forum

http://forum.sbrforum.com/saloon/1526199-bitcoin-thread.html#post13340327

Sports betting and handicapping forum: discuss picks, odds, and predictions for upcoming games and results on latest bets.

**lsuheat911** · 01-20-12, 02:59 PM

I have a strong feeling they are collecting IDs in order to deflect the blame on their customers when it comes to the law. It seems a couple of things are developing:

-Site owners are based here in the United States after some research.
-Authorities have shut their Apache server down. They can't even get back in themselves to check balances.
-They are claiming to the police that they aren't a sportsbook, but only an intermediary between people creating their own odds. In this way they can claim we're actually running the bookmaking operation illegally, and not them. This is why they are trying to bait us with the "give us ID and bitcoin address for a withdrawal" requests.

If any heads roll from running this joint out of the US, it will be their's and not ours regardless of whether they pass our IDs on or not.

**elgreco** · 01-24-12, 06:25 PM

He paid me back!!!!

Today he sent me BTC in the amount that roughly equaled my initial deposit. If we want to get technical, he sent me less than I was owed. I did win a bet before the site went down which was not included in the refund, and in his rules, he stated that my cash balance would be adjusted nightly to the BTC rate. If that was true, then I should have received the same amount of BTC that I deposited, instead I received half the BTC deposited which roughly equaled the original USD$ value of my BTC the day I deposited.

Anyway, considering he could have run off and not paid me a dime, this refund seems to be an honest gesture. My deposit was literally chump change. The big question is whether or not Cincy gets his money back.

Any word, Cincy?

**lsuheat911** · 01-25-12, 04:57 AM

rest of us with big amounts have to wait. email we got:

Below is the schedule for withdrawals:

1) Bitcoins - 2/22

2) LR - 2/22

3) Pecunix - 2/1

4) ************ - To be announced

Thanks for your patience, and we apologize for any inconvenience.

Mgmt

**lsuheat911** · 01-25-12, 05:00 AM

elgreco did he include a betting history or anything of that sort so you knew what you got paid for/on?

**elgreco** · 01-25-12, 08:05 AM

Nothing. This is all I got:

You were sent 5 bitcoins today from address
1N87bDBqBMN98gbYW5vL9iF***********

Please let us know if you did not receive it. This concludes our business.
Best of luck in the future.

Thanks
Management

I initially deposited 10BTC, there was no explanation for why I was getting 5 back, and no mention of the bet I placed and won. The only thing I can rationalize is that 5BTC = the same $USD as 10BTC did when I deposited.

I entered the BTC address into block explorer and it comes up with about $3000 worth of volume at that address since 12-23. This is actually a meaningless stat, I just figured I'd throw it out there.

**elgreco** · 02-02-12, 12:11 PM

Anyone else get their money back?

**lsuheat911** · 02-22-12, 05:31 PM

They claimed that funds would be sent today. I haven't received shit.