Topic: Bitcoinsports.eu Bit365 SCAM Discussion Thread - page 6. (Read 26093 times)

http://www.bitcoinsports.eu/inv/24516 is my investment.  I settled on 50% which is just over 15btc.  It has been over 2 months and bit365 says he "hopes" to send a partial payment this weekend. I have learned not to get my hopes up.

Have PM'd bit365 with the investment details again. Owed BTC8

i still maintain a sliver of hope that he is going to make good on his debts... I probably shouldn't but i can't help it - the eternal optimist

When will i learn that humans are not intrinsically moral, merely products of their moral upbringings?

He probably laughs himself to sleep and wakes up with a smile on his face...

Do you think he has opened up another sportsbook under a different name for seconds? Clearly most should not be dumb enough to get burned a second time.

That's too funny. What you gonna answer? No? It's not like any answer can effect the outcome anyhow

I'm still owed 4.2 btc from http://www.bitcoinsports.eu/inv/98926. I've PMed multiple times but no answer

If he's really running a true scam the investment option would probably still be left on the off chance that someone will still deposit. Somehow he lost the money and now I think he's trying to win them back.

I have two 5.5 BTC investments, Bit has committed to payment dates of "by the end of February" for the first investment, and "end of march" for the second.

For anyone who is owed 1 BTC or more in payment, please speak up and post when you receive payment.

Finally got a response back:

"Your bet will be paid in full by the end of this weekend. I hope this time table is acceptable for you.

Please let me know."

Will keep you posted!

Pm's and emails have gone nowhere. I've even asked him to tell me that he doesn't plan on ever paying me so I can move on....but nothing!!!!!

He's a scammer!

I pm'd him again asking for another update on my 26btc balance owed. http://www.bitcoinsports.eu/inv/67440

The last I heard via pm was the same kind of 2 week estimate in late dec.

They might not start off with the intention to scam, but risky investments or business practices might leave them out of pocket somewhere down the line and thus to default on payments might be their only option.

Looks like a pretty scammy situation.

Needs to be blown up and the person identified because thats a lot of btc unaccounted for.

I agree with you...I'm sure he didn't want to take our BTC and run but why not be honest and say you lost the coins? Why come on and say everyone will be paid in 2 weeks and nothing happens? Why log in almost daily without saying something?!?

Now a major sporting event is coming up and thread closed to hide the fact he just doesn't pay....if it smells like a scam and taste like a scam it's gotta be a scam!

This might be a good example of the difference between a sportsbook and a casino.

A casino is pretty much a license to print money, unless there are some technical problems with the software or you are giving away too much in bonuses you will theoretically always make money whenever a customer makes a bet.

In a sportsbook you might have a great liquidity and a full department that actively manages the risk, but still lose money. If you are just copying the odds of someone else and don't do any risk management yourself you are just gambling, only with slightly better margins than the customers.

If you are investing in a sportsbook that you are not 100% sure is professionally run you are basically giving your money to somebody else and asking them to gamble with the money.

I still don't think that he started the site with intention to scam. (Yes, I realize the people who get scammed usually rationalize just like this.. "I trusted the site and I'm too smart to get scammed, so it cannot possibly have been a scam." ) The site was quite weak from technical point of view with slow payouts, timeouts with bets... Seemed like it required lot of manual work, but it seemed like he was trying to make it work. The investment feature was great and I think there was potential for "just-dice"-like growth with that feature. I did two investments on the site: 1 btc that was paid back in October and 10 btc that has been unpaid since early November.

It's possible he just lost the btc in October/November somehow; there certainly were a lot of opportunities to lose btc during that time. Assuming he really lost the coins somewhere he should have just been honest and open about it, instead of coming up with nonsensical explanation of technical problems and continuing to pay random small investments and bets. Maybe he hoped someone would lose a big bet on the site. If he wants to continue the site without being accused of scamming and grow the site, he just needs to do normal "Chapter 11"-like deals about payment schedules and try negotiate to his debts down.

After removing the link to the thread from the site and finally closing the thread here (just before major sport betting events) while not answering pm:s or emails, it does look like he has finally changed the sites business model to full scamming.

I think bit365 will pay everyone who is owed.
the question is. WHEN
in 4 years?

Isn't that weird?  It seems like that would increase the chances that someone who's owed 50 BTC will track him down...and make him pay.

A lot of people are owed for their signatures too, but I guess that's not as important over the outstanding bet money.

The weird thing is that he is online pretty much every day. Most scammers just take the money and dissapear. I wonder why he is still around.

He was paying smaller payouts to keep the image of a legit site. I've been waiting for 3 months for a small payout.

http://www.bitcoinsports.eu/bet/b5ab0


Scammer for sure!

I bet you that the link to the previous thread would be most helpful here, given that this thread is a continuation of an older thread that Bit365 has closed.

https://bitcointalksearch.org/topic/bitcoinsportseu-bitcoin-sportsbook-parlays-teasers-no-registration-142101

Brief History

1. November, bitcoin hit 1200
2. Bitcoinsports.eu became illiquid
3. FUD
4. The coins were lost (the private keys)
5. No one has/had docs on Bit365
6. He changed his email address, and removed the link to the thread from his website
7. He closed the thread itself.
8. People are still owed plenty of money!