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Thread: Cloudbet is a ponzi style scam sportsbook, Do not play there.

  1. #1
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    Exclamation Cloudbet is a ponzi style scam sportsbook, Do not play there.

    For those who don't know, Cloudbet.com is a bitcoin sportsbook/casino. For a small bettor and most bettors they would seem like a legit book because most of them are losing bettors and if they pay out the small to medium bettors. But if you are a long term winning bettor they will find every excuse to not only keep your winnings but also your original deposit. They change their terms on conditions on the go as they please to justify their decisions.

    I am a success full bettor and i follow a successful syndicate tipster Max XXXXXX from maxXXXXXX.com. Entire 2018 my go to book was pinnacle and betcris and I had no problem betting and getting paid there. But the limits in those books for some of the college football/basketball games are only $3000. This is when I decided to check out cloudbook since they tout themselves as the highest limit sportsbook. During the the final 2 weeks of december, college basketball bowl season, Max XXXXXX, posted all 6 of his 5 unit plays well ahead of time since the lines were out. This was a great opportunity for me to go heavy because he usually has only 2 to 3 five unit tips each month. I wanted to bet all 6 big and also play a parlay. Cloudbet already has sent me an offer earlier in 2018 where they offered 100% matching bonus for max of 5 bitcoins. This means they will match my deposit for up to 5 bitcoins. I decided try it and opened an account with cloudbet and deposited 5bitcoin and my account was credit extra 5 bitcoin for a total of 10 bitcoin. I went ahead and placed 1.5 bitcoin bet on each of the 6 bets and 1 bitcoin bet on a 6 team parlay. All 6 games won including the parlay and I i won total of 53 bitcoins and my total balance in my account now is 63 bitcoin. On the first week of January, I requested a withdrawal of 40 bitcoins into my bitcoin wallet and it was never processed. Customer service that responded almost instantly when i asked questions about depositing now took days to respond. They kept saying they are investigating few things and the payment will be processed upon completion. During the investigation they asked so many things for identification (nonsense because as a bitcoin book they tout themselves as a book to play anonymously) but i complied and gave them everything. THey concluded that I broke their terms and conditions and closed my account without any payment, not even my original deposit. I didn't break any rules. Only thing that I did was follow a tipster and no where in their terms and condition it says that I cannot follow syndicate tipsters. This month i found out that I was not alone. There is a complaint of a heavy hitter, probably another maxXXXXX client, complaining about cloudbet holding 338 of bitcoins after he deposited 112 bitcoins and ran up it up to 338 with winnings. You can find his story in bitcointalk forum adn as well as ask gamblers forums and few blogs/media covered his story as well. There are numerous other complaints.

    cloudbet is a scam. if you are a winning bettor or big bettor, stay away.
    Last edited by littleroundman; 02-18-2019 at 11:05 PM.

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  3. #2
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    Re: Cloudbet is a ponzi style scam sportsbook, Do not play there.

    macslear, Welcome to RS. Thanks for the heads up on this scam.

    I do have q question for you: Have you filed a complaint with the appropriate law enforcement agencies involved against them? Also encourage all the others who have complained to do the same. The more people filing a complaint the more likely the authorities will open an investigation and hopefully shut them down.
    EagleOne
    Founder/President Eagle Research Associates
    https://eagleresearchassociates.org
    Author: "Robbing You With A Keyboard Instead Of A Gun - Cyber Crime How They Do It" available in soft cover and eBook at Amazon.com
    Lifetime Member of the National Association of Distinguished Professionals

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  5. #3
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    Re: Cloudbet is a ponzi style scam sportsbook, Do not play there.

    Quote Originally Posted by EagleOne View Post
    macslear, Welcome to RS. Thanks for the heads up on this scam.

    I do have q question for you: Have you filed a complaint with the appropriate law enforcement agencies involved against them? Also encourage all the others who have complained to do the same. The more people filing a complaint the more likely the authorities will open an investigation and hopefully shut them down.
    Law and order cannot do anything here because they are a bitcoin sportsbook. See what happened to the bitcoin exchange quadrigacx they ran away with 190 million of canadians money.

    Cloudbet/bitcoin books tout themselves books that gives full anonymity and able to bet without having to give personal information. They also tout that because of the anonymity, you can play from any part of the world. However, if you win they will change the tune and restrict you if you play from countries where legalities of online betting is in the grey area or restricted, example usa. They know that legally people from those countries cannot do anything, so they can do anything. There are numerous complains about this book not paying in many places.

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  7. #4
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    Re: Cloudbet is a ponzi style scam sportsbook, Do not play there.

    Quote Originally Posted by macslear View Post
    Law and order cannot do anything here because they are a bitcoin sportsbook. See what happened to the bitcoin exchange quadrigacx they ran away with 190 million of canadians money.

    Cloudbet/bitcoin books tout themselves books that gives full anonymity and able to bet without having to give personal information. They also tout that because of the anonymity, you can play from any part of the world. However, if you win they will change the tune and restrict you if you play from countries where legalities of online betting is in the grey area or restricted, example usa. They know that legally people from those countries cannot do anything, so they can do anything. There are numerous complains about this book not paying in many places.
    I take it you are from Canada the way you are speaking. They have to be registered as a company somewhere to do business, and this is where you report them to the authorities, Bitcoin Sportsbook or no Bitcoin Sportsbook.

    When dealing with these types of programs you really have to do serious due diligence. Never, ever rely on their website information or testimonials to join and use their services. Also never just look at the first 2 pages of a Google, or any other search engine for that matter. Many times you have to get past 5 pages before you start seeing all the complaints and negative articles. They pay to make sure they first 2-4 pages have nothing but favorable or outstanding reviews.

    But most importantly, NEVER, EVER bet money you cannot afford to lose. You have to play with the mentality that you will lose it all, but hopefully you might win. This comment is not for you but for those reading this and considering doing this type of gambling but don't know the risks involved.

    They can be shut down, it's just not easy to do it. If no-one complains, just like in quadrigacx, they will get away with it. Thanks again for the heads up on this and hopefully people will now be aware of them and avoid them like the plague they are to lose your money.
    EagleOne
    Founder/President Eagle Research Associates
    https://eagleresearchassociates.org
    Author: "Robbing You With A Keyboard Instead Of A Gun - Cyber Crime How They Do It" available in soft cover and eBook at Amazon.com
    Lifetime Member of the National Association of Distinguished Professionals

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