Over the last few days I’ve reviewed a half-dozen scams.
The one thing most of them have in common (other than being shoddy) is they’re not online anymore.
Except for BetCas.
You can sign up right now and bet on the following:
- Greyhound Racing
- Ice Hockey
- Table Tennis
- Motor Sports
- Winter Sports
- Live Betting – You can bet on live sports such as soccer, darts, tennis, football, rugby union, basketball, volleyball and greyhounds.
They have a casino, too, where you can play blackjack, scratch tickets, slots, video poker, keno, roulette and arcade games. They even have live dealer games.
And as for bonuses – they offer a 50% deposit bonus up to $500. And VIP members can get an additional 20% on deposits of $5,000 or more each month.
Now… I don’t point this out for you to get excited. Don’t run over there and sign up.
This is a scam page, after all.
The point you should take away is how much they look and act like a legit sportsbook.
And yet… they exist solely to screw their players over. They’ve been given an ‘F’ on BitcoinTalk.org (by member Peeps Place).
There are plenty of good reasons for it, too – including a $340,000 scam from a book most players claim is connected to BetCas.
Player Out €2,000
In one example a player deposited 300.
By the time he finished the rollover (or so he thought) he had spent 1100.
After he finished BetCas invited him back for another bonus. So he deposited another 300.
Except this time, when he finished the terms, BetCas took 900 from him.
They claimed that he bet on too small of odds (the terms stated he had to bet on odds of 1.9+, which isn’t very good anyway).
But, according to the player, BetCas told him he could bet on games with odds smaller than 1.9, they just wouldn’t count towards the rollover.
Well, apparently, there was some confusion or misunderstanding. What’s worse, though, is that BetCas said nothing until the player though he was done fulfilling the requirements.
They easily could’ve looked into the players’ account and told him he still had a little ways to go, or that he wasn’t supposed to bet on anything other than odds of 1.9+ while working on his bonus.
£1,000 + Regulated By The Irish Gambling Commission
In another example a player claimed to be cheated out of £1,000.
He was also upset that BetCas claimed to be regulated by the Irish Gambling Commission.
The problem? This commission doesn’t exist.
Out £20,000 For Violating T&C’s
Here’s an example from this past April.
A player claims that he made a deposit for £100, shortly followed by a £500 deposit. He lost both deposits.
He then deposited another £500 and got a deposit bonus. He received £3200 with a 14x rollover.
The player goes on to say that he completed the requirements in about 25 days. He had £23,000 in his account.
Because of the tax situation in his country he decided to wait until October to withdraw his funds. He continued to play, and by the time he made a withdrawal request (October 20th) he had £19,500 in his account.
But he was told he violated BetCas’s terms and conditions (due to ‘suspicious activity’ because the customer played from multiple devices, and subsequently, multiple locations) his funds were confiscated and his account suspended.
The player submitted this complaint to SBR in 12/2014 and nothing has been done since.
Poker Player Out $340,000
The worst example doesn’t come from BetCas, but instead a sportsbook many players claim to be connected to them (and connected to scam book Sportbet.im) – Coinbet.cc.
They’re not around anymore. But I can assure you this story won’t be going away any time soon.
The short of it is Michael Katz, a well-known online poker player, decided to place bets at BetCas after accumulating a ton of bitcoin.
So, he made a deposit and got a deposit bonus.
He claims to have been betting tens of thousands of dollars. So much that you’d think clearing the deposit bonus would be a cakewalk.
Except that wasn’t the case.
What Katz says is he tried to withdraw some of his money, but was told by support that he didn’t meet the rollover requirements for the bonus he received.
Over the next 45 days he tried everything he could to meet those terms (making crazy 5-figure+ bets).
Apparently, he deposited 25+ times and zeroed out his account at least that many times. At one point his rollover requirement exceeded $2.2 million.
After awhile he realized he might not get his money back. So, now it was time to go for the Hail Mary.
He told support that if they couldn’t make an agreement that he would go public with his story.
But, apparently, that’s against the terms:
“By joining CoinBet.cc, you agree to keep all experience, winnings, losses, payouts, disputes, and gameplay confidential and are forbidden from releasing any information publicly, including but not limited to, message boards, news agencies, forums, blogs, or other websites, without the express written consent of CoinBet.cc. Any information publicized without the express written consent of CoinBet.cc will result in immediate termination of the account in question and forfeiture of any winnings or account balances.”
Katz did it anyway, and sure enough, his account was closed.
But so was everyone else’s.
The day following Katz’s story BetCas closed their doors. And they took $5 million in player funds with them.
Katz was out $340,000.
The Moral of the Story?
Here are some takeaways:
==> Read reviews from legit portals (like ours). We’re players too – we’d never send players to scam sites to make a quick buck.
==> Create accounts at forums (like BitcoinTalk.org). Forums are the fastest way to find out if a sportsbook is on the up and up, or on the way out.
==> Don’t keep lots of money –or- all your money in one account. I recommend having your bankroll spread out over a few accounts (it’s good for shopping lines, anyway) and to make withdrawals frequently. That way if you do get scammed, it’s for the smallest amount possible.
Above all, do your due diligence and be skeptical. It might just save you a few bucks.