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Author: [Gaming Industry - US] Topic: Beted situation...Where have all the mods gone
richsox24 send a private message View Space | Friends | Playbook |
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#1
Posted: 5/28/2011 12:58:04 PM
Havent seen Lou or Freedom post in 3 days on this...ever since Freedom made his shallow promises on making a guarantee of getting people their money back.  Hmmmm
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#2
Posted: 5/28/2011 2:35:17 PM

they're waiting for this to blow over....and people keep bringing it up

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#3
Posted: 5/28/2011 2:52:29 PM
QUOTE Originally Posted by teddypadalack:

they're waiting for this to blow over....and people keep bringing it up

I hate to say it, but it seems that you are right. 

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Lippsman
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#4
Posted: 5/28/2011 2:56:52 PM

I'm a mod.  What do you want me to do ?  Write a check to everyone ? No one will be able to get thier money back if the goverment keeps it. 

Just depends on if they release it and no one in the world can do anything to make the goverment change it's mind if it doesn't. Not only did they take the money that was with the processor but the goverment froze a number of bank accounts.

BetEd had a great financial record before this. But as of yet they haven't made a statement about anyone getting thier money back and considering the legal issues I doubt they wiill say anything.

So there it is.  No one will know anything till BetEd makes a statement and that doesn't seem to be coming.

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#5
Posted: 5/28/2011 3:05:50 PM
QUOTE Originally Posted by Lippsman:

I'm a mod.  What do you want me to do ?  Write a check to everyone ? No one will be able to get thier money back if the goverment keeps it. 

Just depends on if they release it and no one in the world can do anything to make the goverment change it's mind if it doesn't. Not only did they take the money that was with the processor but the goverment froze a number of bank accounts.

BetEd had a great financial record before this. But as of yet they haven't made a statement about anyone getting thier money back and considering the legal issues I doubt they wiill say anything.

So there it is.  No one will know anything till BetEd makes a statement and that doesn't seem to be coming.

Lippsman...you are not the one the GUARANTEED that everyone would get their money back.  Answer me this question...How could a mod make such a guarantee? 

Also, im not saying you have to write every screwed person a check (although just from the advertising dollars from beted, you guys could prob come close).  How about using your advertising powers to cut a deal with an A rated book to take on the debts from beted with a 5-10x rollover.  At least do something...

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#6
Posted: 5/28/2011 3:24:28 PM
QUOTE Originally Posted by richsox24:

Lippsman...you are not the one the GUARANTEED that everyone would get their money back.  Answer me this question...How could a mod make such a guarantee? 

Also, im not saying you have to write every screwed person a check (although just from the advertising dollars from beted, you guys could prob come close).  How about using your advertising powers to cut a deal with an A rated book to take on the debts from beted with a 5-10x rollover.  At least do something...

No mod has made a guarantee that everyone would get thier money back.  Freedom at Stake and Lou are very much more than mods.  We gotta get that straight right off the bat.

I'm sure when they hear something they will post it here. But my personal opinion that does not represent Sports Inc. or Covers or any of the higher ups is that I really doubt anyone will get any money back.

Why isn't there so much bitching about Full Tilt stiffing everyone when they got busted.

You want to girl about BetEd being ranked No.1 with Covers.  How about bitching about Full Tilt being advertised on NBC and on a ton of other stations and such ??   Why is this never brought up.  Hell, Full Tilt had what in the kitty, about 60 million that no one has gotten back yet.

Right now The U.S. government is seeking the forfeiture of approximately $3 billion in defendants' assets as a remedy of Full Tilt and everyone is so worried and pissed at Covers with the BetEd situation.

Maybe Covers is trying to work a deal with another book to help the people that had money in BetEd.  But I can promise you that no one up at the top had any idea this was coming, just as no one at NBC and such any idea that Full Tilt was going to be busted.  If you want to get pissed at anyone, be pissed at BetEd for having so much money tied up in a couple places and not having a backup plan for anything like this happening.

Because Bookmaker sure didn't miss hardly a beat.

It's bad either way.  They 1. were horrible at managing the money, or No. 2 they have a nice chunk of money that the goverment doesn't know about and that's not good.  Or No. 3 they are going to give that chunk of money back to the players.  But where they moved out of thier offices I'm not counting on No. 3.

And yes, before you even say it again I have a huge problem with all the special 100% and such sign up bonus' that BetEd had before the hammer went down,.

I see you haven't been on the board long, least under this user name.  Buy you can ask anyone that's been here any amount of time that I have always said to avoid any books that give out huge bonus' and such.  It's just asking for trouble.  You ever wonder why books such as Pinny, 5Dimes, Greek, Diamond and Bookmaker give little to no bonus' ?  It's because they don't have to, they are a solid book and don't need things like bonus' to get new or reload players.

Well that's it and just so everyone knows.

My views are not Sports Inc, Covers, Freedom at Stake or Lou.  They are mine...all mine......

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#7
Posted: 5/28/2011 4:00:18 PM

Lippsman...first off, here is what Freedom himself wrote.

"But I will end this post on a positive note. And by "positive" I mean, I am positive of one thing: Anybody owed money by betEd will get it back.

That's right. You heard it here first. 

We at Covers.com don't take kindly to having our clients money stolen from them. Hell, it makes us look bad. They were on our list.

We will do everything in our power to get your money back and in your hands. We are going to ask, beg, talk, whine, shout, whisper, or write to whoever it takes to get that money released to the players.

That is a promise."
 
 
Now when he writes that, I take it as  Im getting my money back.  You are right though Lippsman, I am new here.  Im a long time poster across the street though and I have seen them get an A rated book to bailout a stiff job on a few different occasions and they always did it in a very timely manner.  Im just waiting for Covers to accept "some" responsibility and do the same type of thing....even if it means costs some $$ or having to advertise for free to a particular site.  There is definately something Covers can do but so far they've done nothing except make hollow promises. 

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#8
Posted: 5/28/2011 4:06:42 PM

I gave you my view and opinion.  That's all I can do and I can't speak for anyone else.

BOL to you.

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#9
Posted: 5/28/2011 4:13:37 PM

lippsman

best mod.

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#10
Posted: 5/28/2011 4:18:40 PM
QUOTE Originally Posted by richsox24:

Lippsman...first off, here is what Freedom himself wrote.

"But I will end this post on a positive note. And by "positive" I mean, I am positive of one thing: Anybody owed money by betEd will get it back.

That's right. You heard it here first. 

We at Covers.com don't take kindly to having our clients money stolen from them. Hell, it makes us look bad. They were on our list.

We will do everything in our power to get your money back and in your hands. We are going to ask, beg, talk, whine, shout, whisper, or write to whoever it takes to get that money released to the players.

That is a promise."
 
 
Now when he writes that, I take it as  Im getting my money back.  You are right though Lippsman, I am new here.  Im a long time poster across the street though and I have seen them get an A rated book to bailout a stiff job on a few different occasions and they always did it in a very timely manner.  Im just waiting for Covers to accept "some" responsibility and do the same type of thing....even if it means costs some $$ or having to advertise for free to a particular site.  There is definately something Covers can do but so far they've done nothing except make hollow promises. 

this guy is not a customer,, he just looking to stir garbage.
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#11
Posted: 5/28/2011 4:24:11 PM

Lipps is good but KOAJ is the best.

A long suffering Jets fan just like me 

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#12
Posted: 5/28/2011 4:25:59 PM
It's a special bond with the long suffering green and white 
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#13
Posted: 5/28/2011 4:26:14 PM
QUOTE

Originally Posted by LVTruck:

this guy is not a customer,, he just looking to stir garbage.

Im not trying to stir anything.  I had just over $1500 in beted and was promised by a mod on here that I'd get it back.  Just trying to stay on top of everything. 

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#14
Posted: 5/28/2011 4:46:58 PM
Sorry people.

We were over at that IGaming Conference last week - Freedom was there too - and we are just getting home now.

I will say it was a shitty week trying to sort this stuff out while in the wrong timezone and trying to keep a schedule.

Of course, none of that matters to you guys, but we are back and on it.
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Posted: 5/28/2011 4:54:03 PM
QUOTE Originally Posted by Lou:

Sorry people.

We were over at that IGaming Conference last week - Freedom was there too - and we are just getting home now.

I will say it was a shitty week trying to sort this stuff out while in the wrong timezone and trying to keep a schedule.

Of course, none of that matters to you guys, but we are back and on it.

Lou...if you guys want my username and password with beted, pm me and i'll send it to you.  Just want to clear up the nonsense that i didnt have over $1500 in beted.  Im hoping that even if beted ran with everyones money, that you at least can access who had what in there at the time of their closing.

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#16
Posted: 5/28/2011 4:54:11 PM
OK guys,

No need to worry about yourselves, first of all.

Nobody - not the DOJ, and not the IRS  - is going to arrest you. They have nothing on you because you have broken no laws.

I have to apologize, because since I've been doing this for 16 years, I often forget and make assumptions that everybody on the site has the same general industry and legal knowledge that comes with experience.

I've seen so much mis-information and dis-information over the last week that I've decided to put together a general post that kind of sorts out where you all stand legally.

It will be up either tonight or tomorrow, depending on how much editing needs to be done to it.
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#17
Posted: 5/28/2011 5:09:33 PM
this is like investing.... u should keep all ur eggs in one basket. the beted situation sucks but this is online gambling. following the poker seizures people need to wake up. its okay too keep gambling but dont have keep large sums of money online right now. let things settle down and see what happens in the next six months.              and its pointless to blame covers.... people always want to blame others when bad things happen. take some accountability too. after the poker stuff went down u gamble at ur own risks. i still do but i have money in varies books
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#18
Posted: 5/28/2011 5:38:55 PM
Oops. Posted in the wrong thread. I feel like a rookie.

Anyway to richsox: Right now, we are trying many different ways to find out exactly how much is owed to whom. Unfortunately, we were not owners of betEd, they were advertisers, so we don't have immediate access to that information and what we do have is not 100% reliable. 

And betEd is in a position where they need to listen to the lawyers who are probably negotiating with the Feds about what information can be released to the public. This is all speculation on my part, BTW.

We are hoping that through the coming legal process, betEd will be able to provide somebody the latest exact information so that the payout process can begin.
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#19
Posted: 5/28/2011 5:43:47 PM
QUOTE Originally Posted by Lippsman:

No mod has made a guarantee that everyone would get thier money back.  Freedom at Stake and Lou are very much more than mods.  We gotta get that straight right off the bat.

I'm sure when they hear something they will post it here. But my personal opinion that does not represent Sports Inc. or Covers or any of the higher ups is that I really doubt anyone will get any money back.

Why isn't there so much bitching about Full Tilt stiffing everyone when they got busted.

You want to girl about BetEd being ranked No.1 with Covers.  How about bitching about Full Tilt being advertised on NBC and on a ton of other stations and such ??   Why is this never brought up.  Hell, Full Tilt had what in the kitty, about 60 million that no one has gotten back yet.

Right now The U.S. government is seeking the forfeiture of approximately $3 billion in defendants' assets as a remedy of Full Tilt and everyone is so worried and pissed at Covers with the BetEd situation.

Maybe Covers is trying to work a deal with another book to help the people that had money in BetEd.  But I can promise you that no one up at the top had any idea this was coming, just as no one at NBC and such any idea that Full Tilt was going to be busted.  If you want to get pissed at anyone, be pissed at BetEd for having so much money tied up in a couple places and not having a backup plan for anything like this happening.

Because Bookmaker sure didn't miss hardly a beat.

It's bad either way.  They 1. were horrible at managing the money, or No. 2 they have a nice chunk of money that the goverment doesn't know about and that's not good.  Or No. 3 they are going to give that chunk of money back to the players.  But where they moved out of thier offices I'm not counting on No. 3.

And yes, before you even say it again I have a huge problem with all the special 100% and such sign up bonus' that BetEd had before the hammer went down,.

I see you haven't been on the board long, least under this user name.  Buy you can ask anyone that's been here any amount of time that I have always said to avoid any books that give out huge bonus' and such.  It's just asking for trouble.  You ever wonder why books such as Pinny, 5Dimes, Greek, Diamond and Bookmaker give little to no bonus' ?  It's because they don't have to, they are a solid book and don't need things like bonus' to get new or reload players.

Well that's it and just so everyone knows.

My views are not Sports Inc, Covers, Freedom at Stake or Lou.  They are mine...all mine......

 Lippsman, you are complete CLASS.  It is very noble to be forthright and state your views in front of an angry mob.  I hope the players get their money eventually, and I respect that you gave YOUR sincere feelings and opinions on this difficult matter.   

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#20
Posted: 5/28/2011 5:46:11 PM
Thanks guys for taking the time in keeping us informed 
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#21
Posted: 5/28/2011 5:48:31 PM
QUOTE Originally Posted by Freedom@Stake:

Oops. Posted in the wrong thread. I feel like a rookie.

Anyway to richsox: Right now, we are trying many different ways to find out exactly how much is owed to whom. Unfortunately, we were not owners of betEd, they were advertisers, so we don't have immediate access to that information and what we do have is not 100% reliable. 

And betEd is in a position where they need to listen to the lawyers who are probably negotiating with the Feds about what information can be released to the public. This is all speculation on my part, BTW.

We are hoping that through the coming legal process, betEd will be able to provide somebody the latest exact information so that the payout process can begin.

 Freedom, kudos to you for not skirting the issue and dealing with the problem as best you can.  People who are owed money by BetED (not me) hang on to your every word. 

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#22
Posted: 5/28/2011 5:52:03 PM
QUOTE

Originally Posted by LRM704:

Thanks guys for taking the time in keeping us informed 

  You have a change of heart or is this schizophrenia?  Before, it was only money, but now you are thanking them for trying to assist in retrieving player's funds? 

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#23
Posted: 5/28/2011 6:14:47 PM

I dont think Iv ever felt so bad for site owners as I feel now.

Some of you people are an uncontrollable lynch mob.

 

I guess my pyscologist friend is right.

The Internet is the greatest experiment in anarchy.

This is how some of you would behave if there were no laws set upon you?

 

Im appalled to know we are of the same species.

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#24
Posted: 5/28/2011 6:58:21 PM
QUOTE Originally Posted by mafioso:

I dont think Iv ever felt so bad for site owners as I feel now.

Some of you people are an uncontrollable lynch mob.

 

I guess my pyscologist friend is right.

The Internet is the greatest experiment in anarchy.

This is how some of you would behave if there were no laws set upon you?

 

Im appalled to know we are of the same species.



What are you talking about? With the exception of a very few posts, since removed, that used obscenity or wished injury upon people, the majority of the posts have been very restrained.

Perhaps you didn't lose money or very little, but if you had and then you read posts such as, "boy you had to be a dumb behind to use that book," all the while there was an ongoing relationship between Covers and this book, whereby they were ranked #1, you'd be upset too.

So be appalled as much as you like.
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#25
Posted: 5/28/2011 7:02:54 PM

They were ranked top 5 almost everywhere.

 

No I didnt have money in that book, but even if I did, Im a Big boy

Let me repeat that

IM A BIG BOY, Im responsible for my actions

Im a big boy and Im responsible for my actions

 

 

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