Posted:
#76
rPuck, I sent you a friend request, would love to message you if you have the time.
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An Official Message from Covers Regarding betEd
Posted:
#77
Quote Originally Posted by UsaSurfer:
The person who created this thread is a terrible human being. He is trying to push all responsibility away from covers and beted, and onto the US government.
If BetEd was a credibile book, they could have avoided this. If Covers.com wasn't a joke, they would not have recommended BetEd as a #1 book.
Covers made hundreds of thousands of dollars in advertising money from a poor sportsbook, and gave them a top rating in exchange. BetEd made millions of dollars from all of it's customers. Everyone got rich, except for the little guy who visits this site and trusted it's recommendations. Covers.com should never be trusted ever again.
Thats why covers needs to step up right now and do the right thing instead of delaying and just oping this all blows over.
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Posted:
#79
Im very sorry anyone lost any money, but if you look at the covers sportsbook ratings, they have always been a huge joke. And if you played at any decent books you would sureley realize beted was piss poor book.
I'm not trying not take all blame away from covers, but really if you see all the jazette books rated in the top 10, it doesn't take a genius to realize that advertising dollars determine the top 10.
I would be curious to know if Beted stiffed covers on advertising dollars?
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Posted:
#80
I wasn't ignorant to deposit with BetEd, because of my due dilligence utilizing the SBR ratings. However I have to agree with poster King Coebra & can understand his frustration.
Bet Ed is either lieing & stole the majority of money, or they were seriously underfunded. BetEd should have never been endorsed let alone rated #1 by Covers, who didn't do their homework & due dilligence. BetEd doesn't lose all their money from just one processor going down. Companies utilize multiple processors & have their $$$ spread out, not in one basket: Please refer to: https://www.youtube.com/watch?v=PjRWM0hqDbg
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Posted:
#81
Quote Originally Posted by SnotBoogy:
yeah but chief, they also know how much you've LOST at the sportsbook, which covers most people on here.
No it doesn't. You can deduct your losses only up to your winning amount yet you still pay taxes on your winnings. I would highly advise you to pay taxes on you winnings regardless of these new developments.
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Posted:
#83
Because Bookmaker doesn't keep $$$ in US banks. They're much smarter than that which is demonstrated by their new ag domain, which the US government can't touch.
Quote Originally Posted by alling:
Why didn't the Government go after all the bigger operations like they did in Poker? Why are Bookmaker et al still up running?
Why didn't the Government go after all the bigger operations like they did in Poker? Why are Bookmaker et al still up running?
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Posted:
#86
You all should go watch the Youtube video just posted-
Puts this whole covers crew through the ringer
"They have no more money, the government has it all"
BULL SHIT! Watch the video and you'll see what i mean-
Covers in was in bed so to speak with BETED-and now they are just box footing around things-
That money is gone, and covers directed players to a crap book that they knew had no liquidity
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Posted:
#89
Quote Originally Posted by beaner3445:
You may be correct,, but calling those two guy's experts is a joke, the site you reference, how to they make there money, Ad dollars,from books, Same,Same and the site is a very similar type company so i guess you can take it for what it's worth, that site sells 1 dollar picks, money comes from Offshore and i assume they know very little about the book they advertise,,just a thought
You all should go watch the Youtube video just posted-
Puts this whole covers crew through the ringer
"They have no more money, the government has it all"
BULL SHIT! Watch the video and you'll see what i mean-
Covers in was in bed so to speak with BETED-and now they are just box footing around things-
That money is gone, and covers directed players to a crap book that they knew had no liquidity
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Posted:
#91
I've been a long time lurker, it would be nice if covers tried to help return some money to players that have been stiffed. Maybe use some of the advertising dollars earned from BetEd over the years to help arrange a bailout with one of your other forum sponsors?
BetEd was small and knew they would lose many customers after this and the cost of doing business would be going up. So it seems more believable that they made a business decision to close shop which means it wouldn't make sense from their point of view to pay customers back, they have no reputation to protect.
Not saying covers is lying about all player funds being seized. I have no way of knowing if that's true or not. Just posting my opinion and suggestion that covers help arrange a bailout with a sponsor. I've seen SBR do this with low rated books that went under and another sportsbook bails them out with a rollover reqirement. If covers threw some money in the pot I would think they could get a sponsor to take all of beted's former customers and restore balances with a 5 or 10 time rollover. It would bring some respect and credibility back to covers recommended sportsbook list.
Bookmaker was prepared for this, which is why they should have been on top of your recommended list. Wish I had my money at Bookmaker insted of Beted
BetEd was small and knew they would lose many customers after this and the cost of doing business would be going up. So it seems more believable that they made a business decision to close shop which means it wouldn't make sense from their point of view to pay customers back, they have no reputation to protect.
Not saying covers is lying about all player funds being seized. I have no way of knowing if that's true or not. Just posting my opinion and suggestion that covers help arrange a bailout with a sponsor. I've seen SBR do this with low rated books that went under and another sportsbook bails them out with a rollover reqirement. If covers threw some money in the pot I would think they could get a sponsor to take all of beted's former customers and restore balances with a 5 or 10 time rollover. It would bring some respect and credibility back to covers recommended sportsbook list.
Bookmaker was prepared for this, which is why they should have been on top of your recommended list. Wish I had my money at Bookmaker insted of Beted
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Posted:
#93
Gambling911.com is learning that BetED.com principals nearly entered the US and were apprehended by federal officials. Last minute shoulder surgery stopped the process.
So why on Earth would anyone from the online gambling sector dare to enter the United States post 2006 when a series of high profile arrests of operators made everyone think twice about their travel plans?
Well, it turns out the principals in BetED may have had little idea they were about to enter the US.
One of the seized bank accounts was located in Guam. Many people have no clue that Guam is actually a US territory, the folks behind BetED.com included. And that is apparently where they were headed.
The US Attorney’s Office out of Baltimore set up an elaborate sting operation that lured BetED.com into its trap. They opened a phony payment solutions company that transferred over $30 million in gambling transactions on behalf of the online gambling company. On Monday, the BetED.com domain was seized, its two founders - Darren William Wright and David Parchomchuk – were indicted, and the company officially closed its Costa Rican-based office Wednesday.
The Baltimore office may have struck out a second time in regard to the gambling sting we are learning.
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
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Posted:
#94
Quote Originally Posted by contraband71:
I've been a long time lurker, it would be nice if covers tried to help return some money to players that have been stiffed. Maybe use some of the advertising dollars earned from BetEd over the years to help arrange a bailout with one of your other forum sponsors?
BetEd was small and knew they would lose many customers after this and the cost of doing business would be going up. So it seems more believable that they made a business decision to close shop which means it wouldn't make sense from their point of view to pay customers back, they have no reputation to protect.
Not saying covers is lying about all player funds being seized. I have no way of knowing if that's true or not. Just posting my opinion and suggestion that covers help arrange a bailout with a sponsor. I've seen SBR do this with low rated books that went under and another sportsbook bails them out with a rollover reqirement. If covers threw some money in the pot I would think they could get a sponsor to take all of beted's former customers and restore balances with a 5 or 10 time rollover. It would bring some respect and credibility back to covers recommended sportsbook list.
Bookmaker was prepared for this, which is why they should have been on top of your recommended list. Wish I had my money at Bookmaker insted of Beted
I've been a long time lurker, it would be nice if covers tried to help return some money to players that have been stiffed. Maybe use some of the advertising dollars earned from BetEd over the years to help arrange a bailout with one of your other forum sponsors?
BetEd was small and knew they would lose many customers after this and the cost of doing business would be going up. So it seems more believable that they made a business decision to close shop which means it wouldn't make sense from their point of view to pay customers back, they have no reputation to protect.
Not saying covers is lying about all player funds being seized. I have no way of knowing if that's true or not. Just posting my opinion and suggestion that covers help arrange a bailout with a sponsor. I've seen SBR do this with low rated books that went under and another sportsbook bails them out with a rollover reqirement. If covers threw some money in the pot I would think they could get a sponsor to take all of beted's former customers and restore balances with a 5 or 10 time rollover. It would bring some respect and credibility back to covers recommended sportsbook list.
Bookmaker was prepared for this, which is why they should have been on top of your recommended list. Wish I had my money at Bookmaker insted of Beted
Yes...SBR was able to get customers a bailout when a couple different books went under (and these were books that SBR didnt even endorse).
The question is....can Covers do the same? From reading other forums, my guess is no as Ive read nothing but negative things about covers. I do, however, hope Im wrong because i have just over $1500 waiting for me.
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Posted:
#95
Quote Originally Posted by richsox24:
Yes...SBR was able to get customers a bailout when a couple different books went under (and these were books that SBR didnt even endorse).
The question is....can Covers do the same? From reading other forums, my guess is no as Ive read nothing but negative things about covers. I do, however, hope Im wrong because i have just over $1500 waiting for me.
Yeah SBR was helping players from books that folded that SBR didn't even sponsor so Covers should be willing to step up to the plate on this. I haven't read anything positive about this situation anywhere, here or elsewhere on the net. I'm hoping somebody comes to their senses at covers and realizes it's a good investment to set up some kind of bailout for the players they sent to BetEd.
I only had $800 there, hope we get paid someday from somebody
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Posted:
#97
Quote Originally Posted by MRSARATOGA:
Slamming Covers is a mistake. Any book on any sportsbook list on any site could get hit at anytime at all. Covers has nothing to do with that. When you play offshore you are in uncharted waters, I don't care what book you want to mention. Stepping out and putting a guarantee on funds being returned is a bold move to me and I hope it works.
This is life, don't knock a site that wants things to work more than we do!
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Posted:
#100
Quote Originally Posted by LVTruck:
Gambling911.com is learning that BetED.com principals nearly entered the US and were apprehended by federal officials. Last minute shoulder surgery stopped the process.
So why on Earth would anyone from the online gambling sector dare to enter the United States post 2006 when a series of high profile arrests of operators made everyone think twice about their travel plans?
Well, it turns out the principals in BetED may have had little idea they were about to enter the US.
One of the seized bank accounts was located in Guam. Many people have no clue that Guam is actually a US territory, the folks behind BetED.com included. And that is apparently where they were headed.
The US Attorney’s Office out of Baltimore set up an elaborate sting operation that lured BetED.com into its trap. They opened a phony payment solutions company that transferred over $30 million in gambling transactions on behalf of the online gambling company. On Monday, the BetED.com domain was seized, its two founders - Darren William Wright and David Parchomchuk – were indicted, and the company officially closed its Costa Rican-based office Wednesday.
The Baltimore office may have struck out a second time in regard to the gambling sting we are learning.
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
To me, this is the most fascinating piece of information I have heard/seen since the DOJ crackdown on poker sites and the books started a few months ago.Between their lawyers and executives, not one person knew Guam was a US territory. I wonder if Puerto Rico was also considered?
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