Topic: BetcoinPoker.com Betcoin.ag-Big Tourneys-BONUS-Freerolls, Ring Games, Real Poker - page 15. (Read 367789 times)

They are only posting in shill campaign thread.

Come join the fun.

Betcoin's price has still not changed since yesterday. It is still at $555.56 while the average between Bitstamp.net and Preev.com is ~ $655. Lying, scheming scumbags.

I would strongly advise not playing any WPN tourneys through Betcoin until they either fix/address the currently incorrect conversion prices they are using

Good find. Everyone should stop playing any Betsoft Casino games if they refused to pay when a large amount is won.
Also, shame on Betcoin for not standing behind their own player. This is not good at all.

https://www.casinolistings.com/news/2016/06/warning-avoid-all-betsoft-slots-and-casino-games

I understand the math and it's correct. There is no money made by anyone until the bitcoin is sold though. So even if they paid back 360 chips in your example the bitcoin isn't worth anymore to the player than the price they paid to enter the tourney until they withdraw and sell it. This is all assuming that Betcoin didn't always sell all of their daily bitcoin intake for WPN tourneys right away and saved some for payouts. The price was consistently in the mid $400's for months so holding some wasn't a problem. This way they could use those saved coins to payout any winners and still take advantage of selling any new bitcoin taken in with their really low exchange rate. I could very well be mistaken but I still don't see any other reason for their exchange rate to be so low.

Whatever the case may be, Betcoin is blatantly lying about both there being a real-time exchange rate and their exchange rate coming from the average of the prices at Bitstamp and Preev.com. They have been making up their own exchange rate recently that has consistently been much lower than the price at any bitcoin exchange. I have checked Betcoin's exchange rate almost every day for the last 3-4 months in the morning, afternoon and evening and have never once seen it change more than once a day.



Betcoin's biggest referral affiliate Xiaoxiao first received confirmation from Betcoin sometime on or before June 14th, that BTC exchanges for WPN tourneys were in real-time. Then he was informed on June 17th that the rate will 'change a lot' or adjusted often. All lies told to him by Betcoin.

SatoshiPoker was owned by Bart Van Ooort (Known as Ghadafi on Betcoin).

Plo8 stood by him while he stole player deposits.

In the end, the site had to be sold to a 3rd party who agreed to repay the stolen funds.  Very similiar to FullTilt being sold to Pokerstars, just on a smaller scale.

I never played on satoshi poker though, or with InDaMuck (afaik)  Not sure what his deal is.  In fact, I don't play under TwitchySeal on other sites either.  

When Betcoin deletes one of my forum posts, I immediately repost it.  

When they ban me, I immediately create a new account.  It takes only slightly more effort than logging in with an already existing account.

I would never play poker on an alt account, and haven't played poker on Betcoin in months.  

Edit, also 6 of those accounts aren't even mine and the only other person who has called me "TwitchyCrotch" is plo8s son.

Twitchycrotch .... yeah this ass clown has been masturbating in bitcoin poker games for a quite a while. I don't even play Betcoin with any regularity, but I remember plomonster at Satoshi Poker (he's alright) and his word (poker) is gospel with me. Just ban crotch's IP and ignore his posts.

Welcome to my ignore list Twitchycrotch. Have a nice day.

I guess if we don't get a satisfactory answer by tomorrow I can contact Phil Nagy and ask him to look into this.  He's pretty interactive with the entire WPN community and this is a pretty serious revelation that he may want to look into.

I expect Betcoin to ignore all this and lay low for a while hoping for the mess Jessica made to blow over.  Then eventually return as if nothing happened.

Right, so that would be betting against the player.  They make money when the player loses money and they lose money when the player makes money.

Here's an example.  They are exchanging at a rate of 1:1.8.  The real rate is 1:1.6.  A player buys into a $100 MTT.  Betcoin debits 180 chips/.18BTC from their account.  .18BTC is worth $112.50.  WTN 'charges' Betcoin $100.  If the player doesn't cash, Betcoin profits $12.50 from the transaction (plus whatever fees WTN pays them for their traffic).  If the player does cash, then Betcoin has to pay them out at a 1:1.8 rate.  So if the player cashes for, say, $200, Betcoin has to pay them 360 chips.  But 360 chips are worth $225.  So when WTN 'credits' Betcoin, Betcoin has lost $25 on the transaction (for a net loss of $12.50 overall since they have overcharged on the buyin).  Obviously the more the player cashes for, the bigger a hit Betcoin takes.

Under this scenario, Betcoin is only making money when their players lose money.  Thats some sportsbetting shill type racket right there.  I wonder how many mysterious Betcoin-only disconnects have happened because they stood to lose too much money on the conversion if a player was running deep.

Not betting against their players exactly. I have to assume they have some bitcoins saved to pay out. I believe they pay back a win at the same rate you pay to enter. They are just really low-balling the exchange rate they give you when you enter a WPN tourney. When the price was mid $700's they were exchanging @ mid $600's. So for every 1BTC paid for WPN tourneys they were making over $100 IF they sold right away. I can't imagine why they wouldn't. There is NO other reason to set their price so low.

I appreciate the initiative being taken on this to try and get a clarification from Betcoin.  I have always been wary about the accuracy of the BTC->USD conversion made.  Like posted above, any WPN tourneys I play are done at ACR/Shark Tank, so it really doesn't affect me.  However I know alot of folks do play them through the Betcoin skin, so this should be a major heads up to those players!

So you are saying that you think that Betcoin is actively betting AGAINST it's players?  Giving them a bad conversion rate and making a profit when they don't cash?  That's really bad, maybe worse than selling their customer's emails to phishers. 

The alternative is actually worse.  If they provide a bad rate (1:1. for buyins and the correct rate (1:1.62) when players cash, that's legit just stealing.  I can't confirm or deny if this is going on, though, because I honestly don't know any tournament player who still plays on Betcoin especially after the other WPN skins started accepting bitcoin deposits and withdraws.  Maybe some sucker customer can inform us what the conversion rate when you cash a tournament is.

For the record, it's been 2 hours since I took the screenshot, and Betcoin's conversion rate is STILL 1:1.8.  And the exact rate is STILL 39.73mBTC for a $22 buyin.  So it's even clearer that their conversion is not dynamic at all.  Still curious why they would lie about that.

Because they fleeced each and every player over the last week or 2 that played any WPN tourney and they don't want to admit it. They absolutely have never changed the price in real time. They have never even changed the price once during the day to reflect a growing BTC price. There were days where the average bitcoin price was over $100 more than they were paying. They took all the bitcoin they got from players and sold them instantly at some exchange where they made a killing. If they didn't then they are dumber than I thought.

You said:


You then explained:


You then corrected yourself with:


So, your statement(s) is that Betcoin uses an at-the-moment average of bitstamp and preev prices.

Let's see how accurate that is:



So if you used a "blending" of bitstamp and preev, that would be 1BTC = $617.13 at the time of this screenshot.  If 1BTC = $617.13, then 1USD = 1.62mBTC (you use the wrong wording in your popup).  NOT 1USD = 1.8mBTC.  1USD = 1.8mBTC would be accurate if the price of 1BTC was $555.55.  Using the exact non-rounded conversion (39.73mBTC for a $22 buyin), you'd only be correct if the price of bitcoin was 1BTC = $553.74.  The price of bitcoin hasn't been that low in over 16 hours.

Why are you lying?

Oh that's Jessica.  She's not very good at her job.  She once was forced to take a break from posting publicly because of how hostile she was to customers.  Looks like she might be in line for another...

What time is the price changed? Is it roughly the same time everyday? I'm assuming it changes sometime early each day in EDT. That is what I have observed. Sometimes you change the price daily but never more frequently. For the most part of the last week or so your price was over $50 - $100 LESS than any exchange. I will be tracking and comparing the price you offer with the average of the prices at bitstamp.net and preev.com at a certain time or time-frame that either you provide me or I deduce.

BTW, preev.com takes the average of the prices at Bitfinex, Bitstamp and BTC-E.

I am the player that had the jackpot winning spin that was not paid.  Let me first state that up until this point I have been very happy with my treatment by Betcoin.  I play a large volume of BTC at their casino.  I would now like to set the record straight.  Here are the screenshots on imgur of the spin in question so you can decide for yourself if I should be paid.

http://imgur.com/a/hx7Ht

The statements made by Betcoin here are misleading:


Now I do understand that the rules are set by BetSoft.  I understand that the jackpot should have been paid by BetSoft.  What I do not understand is Betcoin not having my back on this.  I do have a serious problem with Betcoin's handling of this matter.  I believe that I have clear and irrefutable proof (see screenshot link above) that I should have won a jackpot on this game.  Betcoin has been less than cooperative in helping me to address this matter with BetSoft.  I have asked many times and been ignored for the name and contact info of someone at BetSoft that I can get in touch with to address this issue if they refuse to fight it for me.  I have also asked for any technical information from the software backend that could help me in my case (Spin ID, or some other information that I know Betcoin must have that identify this spin) so that I can take this to BetSoft directly.  Again I have been ignored.  I need their help in order to take this matter directly to BetSoft, and they have abandoned me.  

I do not understand this.  They could benefit greatly by helping me get this jackpot paid.  I have offered to do a marketing campaign for free to advertise a big jackpot winner at their casino.  I told Andrew that I would fly to wherever they are, and have them take pictures of Andrew handing me one of those large oversized checks, and allow them to use my name and image to advertise their website.  This has been met with silence, ignoring my posts, telling me they are still waiting to hear from BetSoft, etc.  They are hoping that I will eventually give up and just go away.  I will not.  I bet the max amount, hit 5 yachts on the payline, and according to the posted game rules should have been paid the jackpot.  I am now forced to go to public forums and try to shame them into helping me.

Betcoin I need you to have my back.  I am a high volume player on your site and you owe it to me to help me fight this injustice.  Prove to all of the players on this forum that play at your site that every player is treated fairly.  That when the rules as posted are followed that you have a fair chance to hit the jackpot.  And when you do hit said jackpot, and it isn't paid out by the software vendor, that you will fight for your players.  Have my back on this.  It will benefit us both.  And it will show your players that you have their back.  If you don't back me up on this it will show everyone how they can expect to be treated when they play at your casino.  Do the right thing.

wow. The roof is caving in. Why did it take so long for this to happen.