-snip-
6) A legitimate company would never pay 30 BTC from their pocket to a foreign affiliate!
This calculation also confirms that the betcoin.ag scam pays the too good to be true promotions, 58-133% rakeback = 95,5% average + surprise boxes + affiliate commissions + signature campaigns + software provider fees + employees + infrastructure and whatever costs from the player deposits/not paid jackpot winnings/scams and this is called PONZI SCHEME! Maybe, just maybe, but maybe (<- didn't mean to use it again, but felt weird without) their rigged (for the most part) casino games generate good profits, as well as their sportsbook (pretty high margins). I don't think it's fair to accuse them like that without thinking about their sports volume and casino volume - not everything is poker.
While I do think Betcoin is a scummy site, I think your being too focused on attacking them.
Xiaoxiao itself stated that his poker players paid 75 BTC rake in August, while the casino revenue was around 3 BTC. The 3 BTC casino revenue can even not cover the 6 BTC for their signature campaign here.
For the 75 BTC rake collected, they have to pay around 70 - 80% rakeback + 40% commission to Xiaoxiao = 110 - 120% = 7,5 - 15 BTC
loss + too good to be true promotions
loss + business expenses
loss!
I assume this is GamesProtects way of pointing out Xiao is a liar.
To be clear, there's 0 chance Xiao's players pay a combined 75 btc in rake per month.
On average, they deal less than 200k hands a week. Including all tournament, freerolls included and cash and unless somethings changed recently it's mostly micro stakes. That's nothing.
He also claimed in the same post that the same players who were generating over 75 btc a month in rake generated less than 1 btc in casino, sports or dice revenue.
He was just trying to play the roll of a poker savior that gives everything he makes back to the players out of the goodness of his heart.
If Betcoin regulars weren't getting close to 100% rakeback, there wouldn't be any games.
I don't think it does anygood calling Betcoin a "scam", because there are reasonable arguments to be made that they are not. I'm also don't think that they plan to run away with everyones money any time soon.
I think whoever funds them hired a couple incompetent, under-qualified scumbags to manage the site. The owner is either not paying attention, doesn't care, or is dumb enough to be fooled by his employees into not realizing that Betcoin Andrew and Jessica are the reason they haven't increased their player base in two years+
Players get fucked out of money left and right, not bc Betcoin intended to, just because of their incompetence.
The players who don't complain (often because they don't even realize it) or don't complain enough, don't get compensated - despite Betcoin being fully aware that they are owed money.
Those who do complain, always get compensated. And then some.
All their energy and resources goes into trying to cover up all their fuckups and then cover up their coverups.
@cjmoles:
I think you should ask Betcoin about their recent addition of new Betsoft games with new progressive jackpots.
Here are some things they said last summer, could you please remind them of this and see what happened? If Betsoft didn't make any statement or conduct any third party audit, then why would they continue doing business with them? Especially when there are so many other options?
I think they might not delete your post since you've only say ever said good things about them in the past.