SCAM Alert-Betstreak posted excessive profit number for raising ICO fund.

[deadley]

ANN- https://bitcointalk.org/index.php?topic=2131763.0

During its first year of operations, Betstreak has 3,500,000 Euro and 1500 BTC wagered on its platform and has gained a profit of over 2150 BTC

I calculated with lowest price of Bitcoin in euro since Aug 2016 it was around 500 Euro per BTC. Betstreak wrote in ANN that they had wagered 3500000 in fiat this means 7000 BTC @lowest price of BTC in last 1 year. 7000 BTC in fiat+1500 BTC in crypto it's total is 8500 BTC and they have 2150 BTC profit out of 8150 BTC wagered means 25% min edge/margin when I calculated with lowest price of BTC.

Let's take avg price of BTC of last year it will around 1300 Euro per BTC. 3500000 Fiat will convert into around 2700 BTC+1500 BTC in crypto total 4200 BTC wagered out of this 2150 BTC they got profit means more then 50% edge/margin they have.

When I raised this question in their telegram they asked me buy the ICO and we will provide bi-annually report and you will see.

When I asked their avg edge of site, they dodge the question by saying

There's a different edge in each game. Nothing uniformly the same due to our wide game selection. You are free to check out every game and if you can find a game which states an unfair edge then we can look at it
Since we work with licensed providers the games are transparent. Details per game is there for all to see in our casino

They don't know avg edge/margin of their site. They don't know min and max edge of their site, but they want to raise 90k ETH hard cap it was set when ETH price around 400$ means 35 M$. Just in the name of license crypto casino.

[amagra11]

Perhaps this will help:

On their whitepaper, they say "We accept fiat currencies such as EUR, USD, CNY as well as Bitcoins, and all our games are with licensed providers."  You're only calculating their profits with the amount of Euros and Bitcoins they accepted.  You need to include the other currencies they accept.  If you do, the profit margin will be much lower.

This is the whitepaper:
https://ico.betstreak.io/wp-content/uploads/2017/09/betstreakwhitepaper.pdf

The quote is from page 3.

Edit:  I realize that they only tell how much Euros and Bitcoin they accepted in the whitepaper.  I don't know why; perhaps it was because they accepted a lot of fiat currencies, and it would be tiring to list how much they accepted of them all.  But without those numbers, your calculations are way off.

[deadley]

Perhaps this will help:

On their whitepaper, they say "We accept fiat currencies such as EUR, USD, CNY as well as Bitcoins, and all our games are with licensed providers."  You're only calculating their profits with the amount of Euros and Bitcoins they accepted.  You need to include the other currencies they accept.  If you do, the profit margin will be much lower.

This is the whitepaper:
https://ico.betstreak.io/wp-content/uploads/2017/09/betstreakwhitepaper.pdf

The quote is from page 3.

Edit:  I realize that they only tell how much Euros and Bitcoin they accepted in the whitepaper.  I don't know why; perhaps it was because they accepted a lot of fiat currencies, and it would be tiring to list how much they accepted of them all.  But without those numbers, your calculations are way off.

I took all details from Betstreak white paper and ANN, It's clearly written they had wagered 3.5M euro and 1500 BTC in crypto in last 1 year. Just calculate yourself and you will be stunned with all details.

[game-protect]

1) Betstreak.co claims that they are premier licensed but they are not able to show it and ignore all my questions in their gambling thread:

☆☆☆ Betstreak.co ☆☆☆ ✔ The most trusted Bitcoin casino

2) If you take a look at their Alexa Global Rank 2,557,299 (minus 1,261,836) and strange chart, it is clear that they never ever have wagered and earned the huge amounts they claim in their ICO!

3) Betsreak.co claims that they are owned and operated by Direx N.V. and at least 17 casinos operate under this fake license!

validator.antillephone.com/validate?domain=betstreak.co

If they are a part of Direx N.V., why does only betstreak.co have an ICO and not the other casinos or Direx N.V. directly?

I assume that they are a white label brand and plan an exit scam with their ICO aiming $35 million!

$35 million is absurd if you consider the small size of this failed casino!

[deadley]

Just found image of their back office posted on their telegram by support.
Showing total more then 8k members but there is another tab where it's showing only 559 real members, support said real member means they did KYC for them but I don't think.
Strange thing only 1 player online. If you have more then 8k players registered and only 1 player online.

[Lauda]

1) I wonder why nobody has picked this up. You should send this to some DT members for evaluation.
2) I wonder why OP hasn't tagged the user(s) in question himself?
I'm considering whether or not to tag them as 'high risk'.

[deadley]

1) I wonder why nobody has picked this up. You should send this to some DT members for evaluation.
2) I wonder why OP hasn't tagged the user(s) in question himself?
I'm considering whether or not to tag them as 'high risk'.

First I posted this on altcoin discussion. No one even reply there. I am not DT2 member even I did tag them it did not show to anyone.
I thought about sending to some DT member but mostly who is active on these investigation work regular visit scam accussation board so I moved thread here so they will notice.

I hope I answer your querry.

Just calculate everything yourself if I did mistake in calculating anything wrong I am ready to appologize Betstreak team. Now they even blocked me on telegram after I took this back office pic from there.

[game-protect]

Despite from the point that their calculation with a 25% house edge or more and a $2 million profit or more within the first year for such a small white label casino has nothing to do with the reality, there is still something missing:

1) Where is the percentage of the gross revenue they have to pay to the white label network SoftSwiss?

2) Where are the 25 - 45% affiliate commissions they have to pay to its affiliates?

[ChopChops]

1) I wonder why nobody has picked this up. You should send this to some DT members for evaluation.
2) I wonder why OP hasn't tagged the user(s) in question himself?
I'm considering whether or not to tag them as 'high risk'.

First I posted this on altcoin discussion. No one even reply there. I am not DT2 member even I did tag them it did not show to anyone.
I thought about sending to some DT member but mostly who is active on these investigation work regular visit scam accussation board so I moved thread here so they will notice.

I hope I answer your querry.

Just calculate everything yourself if I did mistake in calculating anything wrong I am ready to appologize Betstreak team. Now they even blocked me on telegram after I took this back office pic from there.

Why you deadley have some many people that been trusting in your and your are not in the default trust of this forum ?

[deadley]

1) I wonder why nobody has picked this up. You should send this to some DT members for evaluation.
2) I wonder why OP hasn't tagged the user(s) in question himself?
I'm considering whether or not to tag them as 'high risk'.

First I posted this on altcoin discussion. No one even reply there. I am not DT2 member even I did tag them it did not show to anyone.
I thought about sending to some DT member but mostly who is active on these investigation work regular visit scam accussation board so I moved thread here so they will notice.

I hope I answer your querry.

Just calculate everything yourself if I did mistake in calculating anything wrong I am ready to appologize Betstreak team. Now they even blocked me on telegram after I took this back office pic from there.

Why you deadley have some many people that been trusting in your and your are not in the default trust of this forum ?

Because default trust not work like that. It's complex system. Only DT1(7-8 elite) member have power to give other power to enter into DT2 system.

[cdtc]

Interesting, thanks for bringing that up.