[vanzack]

There are 3 guys over at another forum saying that creditwager moneygramed them their roughly 600 bucks each this week.

In my opinion, this business model is absolutley totally unsustainable.

My guess is that this is one of two things:

1. They are honestly trying to make this work, and once the bonuse whores and other scammers get a hold of them they will be out of business. Even without scammers they will be out of business with regular deadbeat gamblers, these guys just speed up the process.

2. An out and out scam. Pay initially, get a good reputation, and when people pay you cash out. Also - cash out with a bunch of personal identities like SS#'s, DL#'s, addresses etc.

It is so ridiculous to think that when a gambler loses he is going to pay an internet site that has zero recourse to collect their money.

What do you guys think?

[vanzack]

BTW - I am even shocked they paid out the first week.

[MadCapper]

How do they collect payments?

[vanzack]

Originally Posted by MadCapper

How do they collect payments?

Its on your honor to pay them (i feel stupid even typing that). They give you a 1k limit, with a 400 mendoza, and you cant wager until you have paid off your losses.

So the obvious question is, what is stopping a high tech scammer from opening 500 accounts, losing half and collecting on the half he wins?

[Justin7]

I wish them the best of luck, but I agree that there's no way this business model can succeed.

[vanzack]

Originally Posted by Justin7

I wish them the best of luck, but I agree that there's no way this business model can succeed.

I do too - I wish them no ill will - I am just confused.

[MadCapper]

thats the dumbest thing ever.

cant believe this.

[MadCapper]

whats the website anyway

[vanzack]

I think it is just like it sounds, www.creditwager.com

[MadCapper]

try it. does that lonk work?

[vanzack]

sorry, www.creditwagering.com

[MadCapper]

Is there any reason not to play there?

[vanzack]

Originally Posted by MadCapper

Is there any reason not to play there?

I dont see any. Other than wasting your time. The only thing I would be a little nervous about is providing personal info - I think they require a SS# (not positive) and a DL# to cashout - but check on this.

That is the only reason I would be nervous.

Im sitting back waiting. I still cant see this going for more than a couple of weeks, but I hope they prove me wrong....

[Maledetto]

I've heard some people are skeptical of what they can do with just the last 4 SS# and name & address, let me say that's enough data to get you in a sh!t load of trouble for a while if it gets sold to a crafty thief. Your data is worth alot more than what you can win with this guys, it's not worth it.

[MadCapper]

many books ask for your last 4 digits and drivers license.

i think greek does too when you start with credit card deposits.

[MadCapper]

They re banking on the fact that they will lure in the addicts and people will lose to begin and then send them money to continue wagering because they are already hooked.

[vanzack]

Originally Posted by MadCapper

They re banking on the fact that they will lure in the addicts and people will lose to begin and then send them money to continue wagering because they are already hooked.

I honestly dont think so.

Think about it. Lets say a book has a 10% hold (much higher than reality, but lets use it in this example). How many non payers does it take to eat up that 10%?

I am confused about the details of what they are up to - but I am absolutely sure of 1 thing - this is 100% unsustainable.

[bigboydan]

Originally Posted by MadCapper

whats the website anyway

You might want to checkout this thread for more info about this book.

There are 11 domains hosted under the IP address their using out of Costa Rica.

Here are a few of them:

1. Creditwagering.com
2. Giftcardsgalore.net
3. Ipodprivacy.com
4. Spanishdrills.com


FWIW: After doing a little more searching. I did happen to see that one of these sites has a administrative contact info coming out of Stone Mountain, Georgia.

[MadCapper]

Good stuff BBD.

So what does all this tell you?

[vanzack]

Originally Posted by bigboydan

You might want to checkout this thread for more info about this book.

There are 11 domains hosted under the IP address their using out of Costa Rica.

Here are a few of them:

1. Creditwagering.com
2. Giftcardsgalore.net
3. Ipodprivacy.com
4. Spanishdrills.com


FWIW: After doing a little more searching. I did happen to see that one of these sites has a administrative contact info coming out of Stone Mountain, Georgia.

The confusing part to me is that they actually paid some people this week.

I cant figure out the angle and I am intrigued.

[bigboydan]

It could be a number of things MC.

#1. Legit...but I doubt it IMHOO

#2. Could be a sting...but that would be entrapment

#3. A scam to acquire everyones personal info to sell on the black market.

#4. Possibly trying to weed out the "bad risks" in order to put the "good risks" on their sheets.

[zerocage]

Who is the parent company ?

[zerocage]

Shouldn't last for long if anyone wins.

[bigboydan]

Originally Posted by zerocage

Who is the parent company ?

Thats the $64,000 question sir.

I'm still searching for that info and will let you know if I find out.

[Bill Dozer]

Originally Posted by vanzack

There are 3 guys over at another forum saying that creditwager moneygramed them their roughly 600 bucks each this week.

In my opinion, this business model is absolutley totally unsustainable.

My guess is that this is one of two things:

1. They are honestly trying to make this work, and once the bonuse whores and other scammers get a hold of them they will be out of business. Even without scammers they will be out of business with regular deadbeat gamblers, these guys just speed up the process.

2. An out and out scam. Pay initially, get a good reputation, and when people pay you cash out. Also - cash out with a bunch of personal identities like SS#'s, DL#'s, addresses etc.

It is so ridiculous to think that when a gambler loses he is going to pay an internet site that has zero recourse to collect their money.

What do you guys think?

Good post that actually describes most new books.

The biggest hit they will take is from players who win out of the gates who never had any intention to pay. Not only do they get stiffed for their 1k limit but the $10,000 that the player won on monopoly cash before going into the negative.

[robmpink]

Originally Posted by Bill Dozer

Good post that actually describes most new books.

The biggest hit they will take is from players who win out of the gates who never had any intention to pay. Not only do they get stiffed for their 1k limit but the $10,000 that the player won on monopoly cash before going into the negative.

With a $100 max cap win bet this won't be happening.

[horseplayer69]

Can you paste those threads of people that are saying they was paid..I know one guy here who just joined said he was paid moneygram..Then why does the site say they only pay check?

regardless my feeling is simple here..

They want you to send them your id. if you win and it must have the same address on the ID as the one you gave them and i am sure your last 4 numbers must be right too..

1, win and you send your id and it it all looks good maybe you get paid?>?>?

Lose and you don't pay then they call you and start saying they are going to **** your credit up ect ect..

Who knows

[wtt0315]

ok i joined and have been playing all day only up 76 dollars but will try to get up the 400 to cash out. will keep u informed

[vanzack]

Originally Posted by horseplayer69

Can you paste those threads of people that are saying they was paid..I know one guy here who just joined said he was paid moneygram..Then why does the site say they only pay check?

regardless my feeling is simple here..

They want you to send them your id. if you win and it must have the same address on the ID as the one you gave them and i am sure your last 4 numbers must be right too..

1, win and you send your id and it it all looks good maybe you get paid?>?>?

Lose and you don't pay then they call you and start saying they are going to **** your credit up ect ect..

Who knows

I dont know SBR's policy on posting links to other forums. I will say it is a big gambling forum, starting with the letter C, and it is the biggest thread in the gaming industry section with about 180 replies.


I dont think they can do anything with your credit as no American authority would recognize it as a legitimate debt / credit agreement.

[gmanea]

Originally Posted by horseplayer69

Can you paste those threads of people that are saying they was paid..I know one guy here who just joined said he was paid moneygram..Then why does the site say they only pay check?

regardless my feeling is simple here..

They want you to send them your id. if you win and it must have the same address on the ID as the one you gave them and i am sure your last 4 numbers must be right too..

1, win and you send your id and it it all looks good maybe you get paid?>?>?

Lose and you don't pay then they call you and start saying they are going to **** your credit up ect ect..

Who knows

I assume you're talking about me, I didn't just join but havn't made many posts... regardless, i got paid. I would have shared my experiences either way, if I got paid or not. At this stage I can only draw the conclusion they are legitimate as you would too after receiving your cash.

[bettilimbroke999]

This is freaking nuts. I mean this business idea ranks up there with opening an ice store at the north pole. This has got to be just an unbelievable scam, b/c they will get 10k customers on a 1k freeroll.

[horseplayer69]

Yes a few long time posters at covers have been paid.. I like to read one guy loss and pay these guys

[20Four7]

This is the internet horseplayer..... we are all winners

[purecarnagge]

I'm not risking my identity to a sportsbook that has no reputation guys...

You can... I hope the 400 to 10k you might win...would be worth the next 3 years of your lives cleaning up your credit.

[wtt0315]

my credit is so bad if they want to steal it and use then they just my help my credit