Just wanting to know what a consequence of a chargeback would be. I have a friend that lost about 5000.00 on sportsbook.com and he said he is going to do a chargeback. I told him to count his losses and move on.
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02-29-08 08:32 AM #1
Consequence of a chargeback
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02-29-08 08:40 AM #2
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02-29-08 08:53 AM #3
i told him that they probably notify a collections agency.
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02-29-08 08:55 AM #4
charge back 50 bucks its prolly not a big thing, but charge back five thousand bucks and it will prolly cause some issues, and how the heck did he get a cc to ok a five thousand charge to a book anyway
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02-29-08 08:57 AM #5
i was told he used a DC for about half and CC for about half. what type of issues.
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02-29-08 08:59 AM #6
They're going to try and collect on an illegal gambling debt? No chance.
Originally Posted by mikethetiger
1105ptsTOP SPORTSBOOK
WINNER
5/9/2012
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02-29-08 09:00 AM #7
so is there any other consequences...
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02-29-08 09:01 AM #8
Nope. Originally Posted by mikethetiger
1105pts
TOP SPORTSBOOK
WINNER
5/9/2012
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02-29-08 09:04 AM #9
how is it that easy with doing a chargeback
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02-29-08 09:06 AM #10
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02-29-08 09:08 AM #11
Originally Posted by mikethetiger
Simple. The CC companies aren't suppose to be dealing with ILLEGAL GAMBLING. (In the eyes of the US DOJ of course.) The books do not have any rights. If a sports book contests the charge back, what should they tell the CC co. what the charge is for?1105ptsTOP SPORTSBOOK
WINNER
5/9/2012
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02-29-08 09:14 AM #12
my guess is that the book will not return the five thousand to the cc co and the cc co will ruin your friends credit so the chargeback is not worth it. thats my guess
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02-29-08 09:17 AM #13
Originally Posted by hoopster42
That's a horrible guess.
There's nothing to return. The book didn't get paid from it yet.1105ptsTOP SPORTSBOOK
WINNER
5/9/2012
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02-29-08 10:16 AM #14
hopefully for mikes friend the book didnt get paid, but blue, are you sure the book didnt get paid from the cc yet, because you are coming off like you have firsthand info here
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02-29-08 10:41 AM #15
So Mike, a "friend" told you his sportsbook practices, then told you about his misfortune, and you subsequently took the time to come on here and look up all this for "him"?
Come on brother. You can't own up to your gambling debt, fine. However, at least have the courage to admit it's you on an anonymous internet forum.
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02-29-08 10:43 AM #16
I don't advocate ever not owning up to a debt. That said...if you were to ever do a chargeback, Sportsbook.com and Bodog would be the two that I would lose the least sleep out of due to their unsavory practices.
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02-29-08 11:55 AM #17
haha, bb we are all thinking the same thing but since he's new we didnt see need to run him off, yeah? blunt honesty is sometimes good though, haha
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02-29-08 12:19 PM #18
Confiscation of money from a sister book down the line may occur along with red flagging.
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02-29-08 12:38 PM #19
sportbook.com chargeback is hassle free, since they're doing shady business in the first place. bodog doesn't take ************...if they do, i would do chargeback in a heart beat.
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02-29-08 03:46 PM #20
well i lended my friend about 2500.00 for him to use to put down on a car. he turned around and used it on this crap. so yes i do have interest because my money is there and i want him to pay me back. so that is why i was wondering what happens if he does a chargeback. also anyone knows what your local bank does because he used his DC.
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02-29-08 03:48 PM #21
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02-29-08 03:51 PM #22
Mike, enough with the "my friend" crap. It's getting old. You are obviously going to proceed with the chargeback and just wanted to ensure you wouldn't be ruining your credit or making yourself liable in some other way- you won't be. And when your "friend" runs into this situation again three months down the line, do us all a favor and have "him" come explain it to us.... ty
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02-29-08 03:56 PM #23
Believe what you want to believe. I came here to see what the problems would be for him cause I want him to be able to give me my money back.
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02-29-08 04:22 PM #24
So u gave him money to place a wager for you ... you didnt win ... and now you come here crying to get your money back?
Lame bud ... very lame!
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02-29-08 04:23 PM #25
And whats that about "MiketheTiger" its more MikethePussy if you ask me
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02-29-08 04:29 PM #26
I was actually kidding in my earlier posts.
I have a friend who's doing 3 years for a charge back. They cut it down to 2 years.1105ptsTOP SPORTSBOOK
WINNER
5/9/2012
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02-29-08 04:41 PM #27
blue, that mustve been one huge charge back yeah
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02-29-08 04:42 PM #28
It was less than $5,000. Originally Posted by hoopster42
1105ptsTOP SPORTSBOOK
WINNER
5/9/2012
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02-29-08 04:46 PM #29
why would they give him time if he didnt authorize the charge.
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02-29-08 05:06 PM #30
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02-29-08 06:11 PM #31
The simple answer to the question is a chargeback will not hurt your credit.
There is a slim chance SB will pass it on to a collection agency, but then if you ask them for validation, they will not be able to provide it and will not be able to legally harm your credit.
Regarding who loses the money, it is SB, not the processor. All processors hold some funds as collateral. As you process without problems, you can process more and more with less collateral. Microsoft can probably process billions with a million in collateral. SB can probably process a million with $750k in collateral.... After a few months once you go past charge back potential, SB would get the money from the processor.
So what should you do?
If SB will not pay you, charge back. If you lost the bets, I would not..
Sean
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02-29-08 06:12 PM #32
I should add, you can only get in criminal trouble if you commit CC fraud.
If you chargeback and were given the goods and services advertised, you could get in criminal trouble, but I doubt it with gambling since the DOJ considers SB illegal.
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02-29-08 06:36 PM #33
It could affect credit YES. If a company is stiffed on a debt and they hire a collection agency the odds are it will be reported on your credit. They won't be taking it to court, but they can still easily get it on your credit report that will **** you and charge you higher interest rates in the future or affect getting other loans.
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03-17-08 09:11 PM #34
DO THE CHARGEBACK, sportsbook sucks..
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03-17-08 09:33 PM #35
thanks to DOJ, sb can't do shit. they're the idiots who accepts CC as a deposit method.
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