[bigboydan]

IMPORTANT: Tradesports (SBR Rated C+) will be ceasing operations on Friday November 28th 2008.

It is with regret that the owners of TradeSports.com have decided to cease operations on Friday November 28th 2008.

It is expected that you will be anxious about your account balance. Please be assured that all customer balances are fully funded and will be returned to you with all possible haste and in accordance with the details below. Should you wish to have your funds sent by FedEx we are happy to do so. Likewise should you wish to receive your funds by bank transfer we will effect your instruction accordingly.

Noted below are the key dates and actions that will be followed to execute an orderly closure and a timely return to you of your account balance.

From Tuesday November 18th 2008:

No new markets will be listed and no new deposits will be accepted. Deposits in the process of clearing will clear normally and be returned in accordance with the details herein. Listed markets will remain open for trading until midday on November 21st. We are leaving the markets open for 3 days to allow you trade out of your positions and request your funds early to avoid any possible delays.

Friday November 21st 2008:

At midday ET on November 21st all open markets will be paused and closed for expiry. The expiry price set for each contract will be the last closing price set by the Exchange but cross-referenced with a number of independent other sources to ensure there has been no price manipulation leading up to the expiry. All contracts will then be expired at a representative closing price. The expiry price set by the Exchange will be final and will not subject to change in any circumstances.

Friday November 28th 2008:

Once all markets have been expired the Exchange will remain open until midday ET on this date to allow all members to withdraw their final account balance. This can be done by logging into your account and requesting a check or wire transfer on the Account screen.

Friday December 5th 2008:

All customers who have not requested withdrawals will be contacted by email to arrange for their funds to be returned to them.

Once again we would like to thank you for your custom and support since we acquired the TradeSports business in 2007. We would also like to thank our business partners for all their help through out our short ownership of TradeSports.com. We underestimated the difficulties that current and new customers would experience in funding accounts and partly as a result of this we have reluctantly decided to close TradeSports. While we are not hopeful that funding issues may dissipate soon, should they TradeSports will be back and it is therefore an imperative for us to effect and orderly and goodwill preserving closure for you all.

Sincerely,

TradeSports Inc trading as Tradesports.com

Below are their closure FAQs:

What happens to my money?

Your funds are safe and will be returned to you. All member funds are held in a segregated account that is legally separate from the company’s operating funds. To have your funds returned all you need to do is request a withdrawal from your account.

How do I withdraw the balance of my account?

First login to your account and visit the My Account page. You will see the withdrawal options in the menu down the side of the screen – select which option you would like to use and follow the on-screen instructions.

Are there any fees charged for withdrawing funds?

There is a $20.00 fee for requesting a wire transfer. All fee charged by the sending bank, the receiving bank and any intermediary bank the transfer may be routed through are payable by the receiver. These fees will not be paid for or refunded by Tradesports.

There is a $10.00 fee charged by our bank for issuing a check withdrawal. This fee will be deducted from the check amount.

How will you settle your markets?

All of our markets will be settled at fair market value at midday ET on Friday November 21st.

Fair value will be calculated using our own market prices, cross-referenced with a number of sportsbooks to prevent any attempts at price-manipulation.

The settlement of our markets will be final and no review will be conducted except in case of obvious error.

What happens to my recent check deposit?

If your check deposit has been lodged with our bank and is due to clear before the final closing date of November 28th then it will be added to your account when it clears.

If you have sent us a check in the last few days this will be returned to you in the mail and will not be lodged with our bank. Please allow 10-14 business days for the return of these checks by regular mail from Dublin, Ireland.

[Frank]

The greedy 4% was their downfall.

You can't compete for liquidity with Matchbook at double the commision rate.

[jjgold]

This type of betting fails miserably, it will never work.

[fiveteamer]

less takeout = more handle

what is so hard to understand???

[betplom]

The writing was on the wall, when they just recently announced they no longer accepted ************ for deposits.

Tradesports/Tradebetx = No CC deposits, no ewallet deposits, just check/wire, they had no chance of continuing.

RIP

[pico]

****, no wonder they're slow to respond on live chat.

thanks for the info, dan.

[laconic]

Is their non sports arm intrade.com continuing?

[Skidcom]

Was a reason given? Should we be reading between the lines?

[mathdotcom]

Tradesport is like having a phucking barter economy. People figured out markets and prices 1000s of years ago to avoid the problem that tradesport ran into.

[bigboydan]

Tradesports really dropped the ball IMO. They had the only exchange out there for a long time and had many of opportunities to put themselves in the elite status, but never did.

[wtf]

This type of betting fails miserably, it will never work.

what do you mean jj? exchange wagering wont work? someone better tell betfair!

[apk2k6]

I'm hearing some things on another forum about online gambling being shut down completely for U.S. citizens possibly in the near future....can anyone shed light on this?

[tmoney]

good this book is a piece of garbage good riddance tradesports u pussys

[noyb]

they could've at least tried to build a customers base outside the us, so they wouldn't have been hit so hard, but for some reason they didn't want to. they simply were not willing to add any kind of e-wallet, to make it possible for me or other non-us people to actually use them without problems (I did for a short while and definitely would've continued if they would have had some decent deposit options). altough i don't know the ins and outs, as far as i can tell very clear case of management sitting on their asses instead of actually doing something to gain new customers.

[Dark Horse]

Tradesports really dropped the ball IMO. They had the only exchange out there for a long time and had many of opportunities to put themselves in the elite status, but never did.

Exactly. They became a dinosaur when Matchbook stepped in to show how it is done. But they still have Intrade. The demise of TS was in the works when Intrade split off. That was the writing on the wall.

[Dark Horse]

What a surprise. Suddenly they no longer care about the customers, but want to try to get as much money as possible into Intrade. One last hurray from a manipulative management.

[pico]

What a surprise. Suddenly they no longer care about the customers, but want to try to get as much money as possible into Intrade. One last hurray from a manipulative management.

seems like it.

intrade sucks. markets are almost non-existent. if you want to win 20 dollars, that is the place for you.

[jjgold]

Exchange betting does not work in USA
Americans like traditional wagering only

[Dark Horse]

Of course it works. Look at Matchbook.

[wtf]

yes exchange play will take time to catch on, but it is the future of play, nothing is more fair.

especially with horse racing, which your not a fan of i know.

[jjgold]

Never will catch on

We have been saying this for 4 years not and volume decreasing and not increasing and most places closed up

matchbook is not even close to big success

betfair is a success because in Europe

[fiveteamer]

After comission, matchbook lines are no better than most others usually.

That is, even if you can get a bet down.

[durito]

After comission, matchbook lines are no better than most others usually.

That is, even if you can get a bet down.

ah no.

[fiveteamer]

You can pretty much get the same number at pinny or 5 dimes when it comes to hockey.

[durito]

5dimes lol

[fiveteamer]

lol

durito let me suck your rooster pal.

are your balls bald like your head.

i'll lick your taint pal.

[tsoprano415]

While I'm sorry to see that TradeSports is going under, I'm not entirely saddened because of the recent success and launch of a new stock market trading platform called www.OneSeason.com

It is a virtual sports trading platform with social features and content for sports fans. The system provides sports enthusiasts with a way to compete, interact and have a vested interest in their passion.

Thus far I've already made $7,400, and a friend that I know collected $27,000 in his first check!

This is real money we're talking about. I highly suggest you check it out, and give it a shot. The market is starting to rebound right now, so it's as good a time as ever to get started trading.

[bigboydan]

While I'm sorry to see that TradeSports is going under, I'm not entirely saddened because of the recent success and launch of a new stock market trading platform called www.OneSeason.com

It is a virtual sports trading platform with social features and content for sports fans. The system provides sports enthusiasts with a way to compete, interact and have a vested interest in their passion.

Thus far I've already made $7,400, and a friend that I know collected $27,000 in his first check!

This is real money we're talking about. I highly suggest you check it out, and give it a shot. The market is starting to rebound right now, so it's as good a time as ever to get started trading.

Hmm, No thanks sir.

Here is a little info about [iSBRFORUM]OneSeason[/iSBRFORUM]:

OneSeason is a San Francisco-based startup that lets you invest real money in professional athletes. Alex Rodriguez is a steal at $7.00 per share ($17.6 million total value). I just bought one share of Kobe Bryant for $7.48 (he’s valued at $77.6 million).

The company was founded by CEO Mike Sroka and CTO DJ Burdick with $250,000 in seed funding from investor Phil Drayer.

[jjgold]

While I'm sorry to see that TradeSports is going under, I'm not entirely saddened because of the recent success and launch of a new stock market trading platform called www.OneSeason.com

It is a virtual sports trading platform with social features and content for sports fans. The system provides sports enthusiasts with a way to compete, interact and have a vested interest in their passion.

Thus far I've already made $7,400, and a friend that I know collected $27,000 in his first check!

Get lost scammer

This is real money we're talking about. I highly suggest you check it out, and give it a shot. The market is starting to rebound right now, so it's as good a time as ever to get started trading.

Get lost scammer

[WileOut]

While I'm sorry to see that TradeSports is going under, I'm not entirely saddened because of the recent success and launch of a new stock market trading platform called www.OneSeason.com

It is a virtual sports trading platform with social features and content for sports fans. The system provides sports enthusiasts with a way to compete, interact and have a vested interest in their passion.

Thus far I've already made $7,400, and a friend that I know collected $27,000 in his first check!

This is real money we're talking about. I highly suggest you check it out, and give it a shot. The market is starting to rebound right now, so it's as good a time as ever to get started trading.

From the FAQ area of the website:

"Is there a maximum amount of money that I can transfer into a OneSeason Account?

Yes. You can transfer a maximum of $2,500 for any 12 month period into a OneSeason account. We want to ensure that this is used only for fun and entertainment purposes."

[wtf]

you tell him jj!!!

[xyz]

Has anyone received their check in the mail after it closed? I am still waiting for mine. Thanks.

[dlew2k]

Yes.. received it Dec 03.