Topic: OLE7.IO scammed me 11700 USD in bitcoins without reasoning! - page 2. (Read 710 times)

It's been over 24 Hours since The casino representative asked for the username of OP, and he promised to come back with an update. Still no answer or explanation from them about this case. There is another scam accusation against this casino, and the case is similar. If a casino doesn't allow placing double bets on the exact match, Why they kept it open for players to make multiple bets? This is a door for shady casinos to confiscate winnings and freeze user balances.

I think that not only is the terms of service of the casino in question of importance in this matter, but also the casinos regulational status and location. Same goes for the player as well. If the player lives in a country with certain rules and restrictions, thats not something you will find in the terms of service of the online gambling casino but rather they should look at the laws of their government. Thats the players responsibility.

Although if gambling is outright banned in their country, the gambling casino will not even allow them to play on their platform in the first place.

I have not yet seen any evidence provided by the accuser that this matter is the casinos fault, but since the casino is accusing the player of multi-accounting or illegal practices, they should be able to provide proof. I agree on this.

Also, them not being able to even spell forfeited is a sign of unprofessionality. Red flag.

Thanks for your support, hope more members will read the whole story and support my red flag further.

I have no experience with Asian bookies and Asian agents, so I am a complete newbie in that regard. But if you say that you are allowed to bet double what the betting limits are, can you back that up with information provided in the Terms and Conditions of Ole7.io where they say that?

Same question to the Ole7.io forum representative: If the player is not allowed to bypass betting limits the way spyrosc200 explained it, is that clearly explained in your TOS? And is that the reason why the funds were seized?

If OLE7.io is a broker/agent then they shouldn't care about arbitrage betting at all. The betting brokers are not interested in the outcome of the event, they benefit solely from betting volumes. In this regard, brokers are loyal to arbitragers, because they often make big bets.
+ Pinnacle doesn't care about arbers anyway.


I supported your flag:
https://bitcointalk.org/index.php?action=trust;u=3518507;page=iflags

Can guarantee you i don't have multiple accounts and they can't have such proofs.

In reality, having multiple accounts with asian agents makes no sense. The reason is that odds change after 1 bet. So next user will take lower odds. But the first user can repeat the bet for the same event with lower odds as the second user so ''multiaccounts'' in asia doesn't make any sense.

Someone can say that you can make multiaccounts to take the 200USDT welcome bonus they offer. Hey, i haven't took any bonus. I never take bonuses in general as they are a headache when you withdraw due to rollover requirements and i want piece of mind.

The casino representative is already here. Op responded and confirmed the username to him. I believe the casino representative saw that post too. Let's see what their representative comes with. I am not a sports betting fan, and I have no idea what arbitrage trading is. I shouldn't comment on this matter since I don't understand how it works. But, If OP had multiple accounts and they have proof. I don't see any problem here. Let's see what they have to say.

Cool, you are clueless. I never arbitrage and i'm "guilty" of all these things.

Lets check Betsapi:
https://betsapi.com/rs/6092454/Cong-An-Nhan-Dan-vs-Binh-Dinh

So the opposite line needs to be at least 2.05 right(For +0.20% ROI)
188BET last line 1.95(-2.25% ROI)
BetVictor KickOff line 1.91(-3.27% ROI)

ofc i also believe you can repeat bets, with the odds decreasing as you bet, that has nothing to do with arbitrage betting.
If the bookmaker didn't want you to repeat bets, it shouldn't let you after you place one bet.

The one who wrote this got no clue about what arbitrage is.

Arbitrage betting is a gambling strategy that involves calculating all possible results of an event and placing bets on each.Thus, bettors guarantee a profit by making every outcome win for them. It is written in the arlicle you posted as well. The parameters you mentioned are only valid if a guarantee profit is expected, which is not the case with my bets.

As i already told you, in asia you can rebet normally as many times as you want, bookmaker only change the odds each time. You can ask anyone who bet in asia to confirm if you don't believe me.

Can post you a dozens of thousands of bets paid from giants like Pinnacle, Sportmarket etc but it seems you will continue ignoring what industry standards are.

I am pretty sure you never bet with asian bookmakers, otherwise you would already know that what you described is the common procedure.

Don't want to make this topic a conversation about what arbitrage is etc. You have your opinion which is defo wrong.

There are plenty of 3rd party mediators.

If Ole7.io believes that i broke their rules in any way, we can follow the case to one of those 3rd party mediators.

Hope i am wrong but I am pretty sure that Ole7.io will not accept my proposal which is 100% fair for both parties.

You need to read this one.

You clearly got no idea what arbitrage is so better don't post false/nonse posts mate.

What you describe is not arbitrage betting.

IM markets offered by Ole7.io allows you to place bets double the size of the original bet limits.

So when a bet has a limit of 22.04mbtc, you are free to bet a total of double that stake limit, hence i am allowed to bet 44.07,mbtc. They are the one who set the limits, not me. In no way i bet more that i was allowed.

For example, in the Vietnam bet you highlighted, my first bet was 22mbtc. I was allowed to bet a total of 44mbtc. I ended up placing bets of 30mbtc in that game. This is not arbitrage and it is according to industry standards. My bets respected bookie limits all the times. If you look closely, you will see that first bet of 22mbtc was at odds 1.96. Then IM Markets lower the odds to 1.88/1.90 and they allow you to place same bet once again. It is normal procedure for asia betting style.

Pinnacle on the other hand allows you to rebet as many times as you want, they only change the odds with each rebet. So a selection may have 5mbtc limit but you are free to rebet 3-4-5 times for a total of 25mbtc etc. Pinnacle will lower the odds with each bet though.

If you are not sure what arbitrage is, better don't post comments that may mislead someone

What? or he clearly max bet 0.96(22.04mbtc) and thought that 0.9 was still +EV?
Sometimes i max bet a opening line 3 times in a row, it doesn't have anything to do with arbitrage.

Although I've leave negative tag to the casino because they hired paid shill, but I don't think they're wrong for seized your funds due to arbitrage trading because you clearly did it. Why you're making repeated bet on the same match? you're taking advantage because you see the team is high likely to win, a legit gambler will only put bet one time. Since I'm not a part of the casino, I can't make sure if you're using multi accounts or work with other groups, after all you did a mistake.

My Ole7.io username is ''spyrosc200'', thank you.

Please don't come back with general statements like syndicate betting, arbitrage betting and all those stuff.

You know my bets were fair and that i did nothing wrong.

Hi, I have already read your concern and thank you for raising this.

Kindly send your OLE7.IO username as we are trying to look into this right now.

Or if you can just confirm if syprosc200 is your OLE7.IO username that would be great.

One of the issues that they resolve is the deposit issue they resolve it because is not about winning only deposit, but they have a lot of complaints about the players' winnings, I have this feeling that this is another 1xbit in the making and should be avoided, they have been tagged using a shill service, and you are right in your opinion that you deserve your winning and just limit your account because you earned that money for winning your bet, its better to create a flag on this casino, the complaints keep coming.

I believe they are lying about that. Evidence from multiple snapshots on the Wayback Machine (web.archive.org)suggests that they are indeed operated by the Ole Group International B.V. However, the statements were altered in recent months for an unknown reason. Here are a couple of screenshots:


http://web.archive.org/web/20230101190359/https://ole7.io/en/#/main


http://web.archive.org/web/20220505091014/https://ole7.io/en/#/main


I think that you were already aware of this, or perhaps this comment has slipped your memory:

nothing suspicious, many of those bets were taken on Pinnacle, Singbet etc as well without any issues, they all paid fine. Besides, Ole7.io is not a bookmaker itself but an agent. A bettor don't place bets against Ole7.io, they place bets via Pinnacle/IM Markets. Ole7.io give you access to 2 thirdparty bookmakers. So it is Pinnacle/IM Markets who settle the bets, not Ole7.io. Pinnacle/IM settle my bets fine without issues. Ole7.io, instead of pay my winnings they confiscated my balance.  

It is even stated in their terms that they are not a bookmaker but an intermediate:

''We provide betting intermediary services only and the Platform gives you access on an aggregated basis to sportsbooks operated by certain third party betting operators (“Bookmakers”). Each and every betting transaction (“Bet”) is between you and the Bookmakers only and the OLE Group is not, and will not, under any circumstances be a party to those Bets. The OLE Group does not act as, or hold itself out as, a bookmaker or betting operator.

You understand that, by using the Platform, you authorize the OLE Group to deal with the Bookmakers on your behalf, including collecting monies and depositing monies with the Bookmakers on your behalf.''

Since my bets were settle correctly from Pinnacle/IM Markets, it is obvious that OLE paid from bookmakers on mybehalf but they don't pay me!

A bettor can place bets on any leagues he wants as long as bookies offered those bets with certain limits. I haven't bypassed their limits in any way. There is no wrong with that nor it is consider abnormal betting, suspicious betting etc. That's why they paid me dozen of times earlier while i was always placing bets on exotic leagues.

Bets placed are defo not an issue, the issue is the profit. That's why they paid fine on first 3 months and they scammed me later. I was always betting on exotic leagues without issues. I took same competition bets on stake, nitrogen, betcoin, cloudbet, intertops, 5dimes etc, no issues at all.

If they didn't liked me they had the choice to limit my account but pay my legitimate winnings first. They haven't did that though, they simply confiscated profit which is against industry standard.

What happened here is obvious, they simply removed balance from account without proper explanation. Their live chat support only told some general accusations, their email support the same. Nothing more nothing less.

The type of leagues OP was betting on is highly unusual maybe even to the point of being suspicious. Iranian football, Algerian low division and Reserve league, and matches from Vietnam. But if it's part of the daily offer, then you are allowed to bet on it. Otherwise, either remove the leagues or limit the amount that players can wager.

I will PM the forum rep and ask them to explain the exact reason for locking the account. For the record, I do find your choice of leagues suspicious.