Topic: BitcoinSports.eu - Bitcoin Sportsbook - Parlays & Teasers - No Registration! - page 18. (Read 117184 times)

Waiting over 3 weeks for this payout...

http://www.bitcoinsports.eu/bet/8a0d8

Sent 0.2 but it never showed up here or returned...

http://www.bitcoinsports.eu/bet/d6484

Transaction ID:  ae6d88400e30582a0d527dd2c0f411097ea4918ef6dad9f64b7954e3a0e91d39

Would really appreciate getting this resolved.

I have a game coming up on the 7th. I will NOT be placing my bet with bitcoinsports.eu (go, RSL!)

I think it's pretty clear that a bet's a bet ... and an investment's an investment. No communication, no appeals to the community for patience... just radio silence. This is unjust. I would never dodge someone I owed money to (and I never have).

I'm boycotting bitcoinsports.eu indefinitely, and withdrawing any and all colloquial support. My advice to you, reader, is that you do the same.

If anyone knows an administrator for this site, I suggest returning 365's ad money and not running the banner ads.

Is it still the case that you have to post on the forum to try and get paid out?  I moved my money over to bitbook.biz (link in my signature).  Payouts are automatic and very quick.  I definitely recommend!!

http://www.bitcoinsports.eu/inv/67440


26 btc here.  Waiting 2+ weeks.

http://bitcoinsports.eu/bet/23456?destination=bet-slip

10.5 btc, unpaid since Nov 17th, unpaid since 15 days ago.

Bitcoinsports.eu, where even when you win, you lose.

Untrustworthy site! Do not send your bitcoins!

40btc guy is still waiting.

Nice to hear there's some progress.

I'm still waiting 10 BTC from http://www.bitcoinsports.eu/inv/6bc71 that I closed month ago. So it looks like these aren't done in chronological order.

It is great to see an investment being paid out but what is frustrating is that we were told we would be receiving our investments back in the order they were cashed out. I have an investment I have been waiting over 2 weeks that is on the etherpad and seeing someone get paid out before me that requested only a week ago is disheartening. Are these investments being paid back randomly? I have been patient but it is hard to remain so when he has hundreds of dollars of my money and in other cases thousands or tens of thousands of other peoples money. If we could just hear a gameplan or an actual estimation time for each investment that would help ease our stress tremendously.

It is great to see these investments going out!  I'm looking for an update about the previous pending bets/investments.

1. The 40btc investment where the profit was waved.  https://blockchain.info/tx/406bfd13ebcb3299a72c972e49bedac2eea4adeeff4c762511c114554153c81e here is the transaction that was posted.  The investment was closed 3 weeks ago.  I don't see any transactions sent to those addresses recently.

2. http://bitcoinsports.eu/bet/23456 from 2 weeks ago, it is one of the bigger bets that I don't think was addressed.

3. https://etherpad.mozilla.org/MZ3eG4apz2 Anything from here (the user compiled pending payouts).  I see some large investments

Please update anyone with information

Hey guys, I would like to give everyone an update.

I cashed the following investment out on the November 25th: http://bitcoinsports.eu/inv/2078e

and I have just received the coins a few hours ago, Hopefully this will give you guys a heads up on current progress.

Continue to file complaints we now have a total over 106 btc's owed. We tried to warn guest a month ago but few believed us.

Impatiently waiting...

Great analysis!

At current writing investments are 404 BTC. Do you have any idea how many individual investors this may be?

How much of this is involuntary? In other words, how many people asked for their investment back, but have not received it? How many people or how many BTC?

I noticed that some investors are saying that even though the investment slips are marked 'CLOSED', they have not received their payout. Does this imply a 'black budget', in that the BTC is used to fund bet payouts, but is not on the books officially as an investment?

That would be unethical, IMO. It would be a deal-breaker for me if I thought the business was still using my investment off-the-books.

To take a break from the arguments between forum members waiting for bit365 to show up here again, I decided now might be an interesting time to review some of the facts in the case.  Using the data provided at the top of the Bitcoinsports web page under the “Invest” tab, I reconstructed the following plots.  First, there is the raw data of the cumulative results since August 20.  

http://photos.symmunity.net/bitcoinsports/Bitcoinsports_fraud_analysis_files/image002.jpg

http://photos.symmunity.net/bitcoinsports/Bitcoinsports_fraud_analysis_files/image004.jpg

http://photos.symmunity.net/bitcoinsports/Bitcoinsports_fraud_analysis_files/image006.jpg

A few features of these plots were particularly interesting to me.  
•   The initial amount invested was something close to 290 bitcoin.  The “company” was treated as having an initial value of that much.  Based on the price of bitcoin at that time, that would seem to be an entirely reasonable valuation.  I might even be a bit concerned that it was too cheap.  However, this built-in equity for bit makes the 15% commission seem more reasonable.  
•   The volume of bets being processed through the site accelerated dramatically in September, after the site began taking investements.  However, that pace began slowing by late October, before investors began pulling out en masse.
•   Some time around November 10, investments rapidly reversed.  Unfortunately, due to the sparseness of the data I have around that time, I can’t be sure that it wasn’t several days earlier or slightly later.  That maximum is the “Ponzi point” at which one would expect the meltdown to begin if invested funds were disappearing.  
•   The site’s profit followed the amount bet remarkably closely.  One interesting exception, barely visible on this scale, occurred in the last 24 hours.

To make these salient features easier to see, I replotted the data.  

http://photos.symmunity.net/bitcoinsports/Bitcoinsports_fraud_analysis_files/image008.jpg
Note that the scale for the amount wagered (dashed blue line) is 15x larger than the scale for the other two data series.  Plotted this way, it is apparent that the average profit has remained remarkably close to 1/15, i.e. roughly 6.5%.  
This plot also shows that the amount withdrawn by investors over the past 3 weeks is already nearly equal to the total profits the site.  If investors’ bitcoins had been lost somewhere, e.g. by converting them into hard currency just before the recent rally, then it would take months of the site operating at its peak to repay them.  


http://photos.symmunity.net/bitcoinsports/Bitcoinsports_fraud_analysis_files/image010.jpg
Since investments stopped paying out in mid-November, new wagers (shown in violet) have plummeted.  This obviously makes repaying investors with profits hopeless unless confidence can be restored.

http://photos.symmunity.net/bitcoinsports/Bitcoinsports_fraud_analysis_files/image012.jpg
This plot shows the performance of Bitcoinsports since the confidence crisis began.  The scale on the (right) profit axis is again 15x smaller than the scale on the (left) wager axis.  As you would expect, profits plummeted when people stopped placing wagers.  At the current average of about 20 BTC of wagers per week, the 6.5% profit rate reported throughout the past two months would imply a weekly profit of 1.3 bitcoin for the site.  With such a small profit, it doesn’t seem likely that it would be worth the site operator’s time.  
Then something interesting happened.  Although the total volume of wagers remained very low, profits shot rapidly upward.  Suddenly, the site has become extraordinarily lucky.  As I’m writing this, the average win rate on bets under 0.25 bitcoin over the past 24 hours is around the usual 5%.  However, all 5 bets of 0.5 BTC or more were losers for the gambler and thus winners for bitcoinsports.  This seems remarkably convenient, but there were only four of these larger bets; mathematically, I can't rule out the possibility that it really is just a coincidence.

You never did respond to my question. What would you do in my situation, being the largest outstanding bet unpaid ($12k to $13k, depending on the echange rate)? Just hope and pray and be quiet?

My intention is to help other people be aware that bitcoinsports.eu is not paying out. You would rather help him scam other folks by keeping quiet?

OR...what exactly is your suggestion? Hmmmmm?

The site is up a fair amount on bets made today, hopefully this will help in processing payouts.

No updates? Looks like a couple of small amounts have been paid out but nothing over 1 BTC

I am happy to see 11 day old bets paid.   Has anyone received larger bets from 13 and 14 days out paid or Investments - even with profits forgone? This reeks of ponzi paying the smaller bets to keep more coming