Credit wagering

[robertg]

has anyone heard of this site? Interesting concept, but I can't see it ever working. Not enough honarable people, I fear. I've searched their website and can't find anything about ownership of the site, so it probably is a total scam. Apparently everone starts with 1k line of credit and you settle up each week if your'e up or down 400 or more. What do you think? Could something like this ever work. I know from a buddy of mine that books, that a certain percentage of people won't pay when they lose. And basically there's not much you can do about it unless your "organized crime."

[johnny1212]

A couple of things I noticed

$1,000 credit line, $100 max bet
rollover on everything post up too
shady do it urself web design
they do not really disclose a location or an address except one little line about costa rica laws.
brand new website, prolly a fly by night
free credit line with no credit check or anything 4 every1, lmfao

[robertg]

Thats what I think too Johnny.........I just can't figure out their angle. There
has to be a scam, but what is it? How do they gain financially from offering credit and closing up shop? There are plenty of deposit only books out there with unreal signup bonuses, and their angle is easy to figure out, but offer credit and run??????? It just doesn't make sense. How will they profit? What are they pulling????

[captaincapper]

Originally Posted by robertg

Thats what I think too Johnny.........I just can't figure out their angle. There
has to be a scam, but what is it? How do they gain financially from offering credit and closing up shop? There are plenty of deposit only books out there with unreal signup bonuses, and their angle is easy to figure out, but offer credit and run??????? It just doesn't make sense. How will they profit? What are they pulling????

They can offer credit all day long and never ever pay out. They profit by collecting from the few honest suckers out there. Since they don't ever actually pay out one red cent they have absolutely no risk, brilliant!

[robertg]

Originally Posted by captaincapper

They can offer credit all day long and never ever pay out. They profit by collecting from the few honest suckers out there. Since they don't ever actually pay out one red cent they have absolutely no risk, brilliant!

yeah, that occurred to me, but settling up on the 4oo's, if they don't pay word will get out real quick. i started wondering if this could be a way to collect personal info for an idenity theft ring? maybe their perfectly legit, and this all works out for everyone...but i am very skeptical.

[captaincapper]

Originally Posted by robertg

yeah, that occurred to me, but settling up on the 4oo's, if they don't pay word will get out real quick. i started wondering if this could be a way to collect personal info for an idenity theft ring? maybe their perfectly legit, and this all works out for everyone...but i am very skeptical.

word will get around quickly, but in the meantime they will have made risk-free money and since a sucker is born every second there will always be a large pool of suckers to milk.

[sesh]

Well hopefully I can get to +$400 before I get to -$400 and I'll let you guys know.

[jaypasco]

they just had 1000 new signups from broke gambelrs seing this thread. goterps and seanmac can start betting again

[sesh]

Originally Posted by jaypasco

they just had 1000 new signups from broke gambelrs seing this thread. goterps and seanmac can start betting again

and don't forget your alter ego

[Chicago RED]

Originally Posted by sesh

Well hopefully I can get to +$400 before I get to -$400 and I'll let you guys know.

Did you really sign up?

[SecretStash]

I signed up about a week and a half ago jus for the affiliate purposes....and figured it cant hurt to see if they pay..i mean its no different then a contest, but a credit side of things.

only disadvantage is the 100$ max per bet,(unless u deposit to get upgraded)


-------------------------


-stash

[sesh]

Originally Posted by Chicago RED

Did you really sign up?

yeah it's not that hard to signup just need an e-mail and password really. They don't ask for the photo id and utility bill until you wanna withdraw

Might just wait for an SBR review before I take funds out (assuming I am up lol)

[Chicago RED]

Originally Posted by sesh

yeah it's not that hard to signup just need an e-mail and password really. They don't ask for the photo id and utility bill until you wanna withdraw

Might just wait for an SBR review before I take funds out (assuming I am up lol)

BOL

[WAXER]

Now i saw everything... There can be NO way NO how this is legit. I first also though this is a SCAM to obtain info on ones self but saw nothing but name & addy to sign up. What i think is the case here is that when & if you win then it's now KILL or be KILLED as you will have to then give your senative info to be paied & well if you dont well no pay. They can force your hand & think a sec. if you have 4 bills coming you might get stupid & give that Licence & info. I would just about say 100% this is a phising scam.. As far as OC NO WAY.. Not if effect of there comes collectors but again for info yes. Still fell of my rocker seeing it.'

[johnny1212]

Here is what OSGA says about this site

Credit Wagering
By Sportsbook Advocate
Mar 6, 2008, 14:37

This website was created in December 2007 and their registration expires in December 2008. The creditwagering.com website has no phone numbers to contact and though they claim they are in Costa Rica, there is no valid information filed within their Internet registration.

The website registration or sign-up page asks for the last four numbers of your Social Security number, your birthdate and a common security question, in addition to the usual name and address info. They are dangling the credit carrot to phish player information.....there is no other explanation for this. STAY AWAY